As a recent Forbes article stated the healthcare system could be revolutionized through data and modern technology. This is no surprise, but the extent to which it can transform the healthcare system, and how it could do that, might surprise you. In fact, the same article states that, according to figures from PwC, the connected health market is predicted to be worth $61B worldwide by 2020. An additional report from the Transparency Market Research suggests that by 2025 the global digital health market will hit a staggering $536.6B.
The future aside, there are currently many impressive advancements being made by a number of startups in this area today. John Snow Labs, an award-winning global data operations and AI company, recently announced the launch of John Snow Labs Data Market. The Data Market is an online store that allows users to subscribe to datasets and/or data packages in the healthcare and life science domain.
John Snow Labs helps accelerate progress in data science and analytics by taking on the headache of managing data and AI platforms. The launch of its Data Market will help researchers, data scientists, or anyone looking to collect data to better do their job, by giving them access to the reference datasets they need.
Developers building a mobile app to give advice to people with diabetes, for example, can use the Data Market to access diabetes related datasets that contain essential information, such as nutritional data, diagnosis terminology, or available drugs, that they would require to build the app.
A simple keyword-based search allows users to identify all datasets and data products having a given keyword in their name, description or summary. A catalog of datasets and data packages can also be explored by navigating the list of categories (e.g., Healthcare, Life Science, Core, Terminology) and selecting the subcategories of interest.
Premium databases are high quality datasets that have been curated, normalized, optimized and enriched and are constantly kept up-to-date by a team of expert data researchers and industry experts. They are ready to use and can be easily loaded into Python, R, SAS, Hadoop, Spark, SQL & BI tools. Datasets are provided in both CSV and Parquet formats, which are read-optimized for big data deployments. Metadata is provided in both a human-readable PDF and machine-readable JSON formats.
“John Snow Labs data is the highest quality data available in the healthcare domain to date,” said Dr. Dia Trambitas, Product Manager of John Snow Labs’ Data Market. “Our data researchers use their clinical domain understanding when collecting the data, cleaning, normalizing and enriching it – and then apply our state of the art tools and processes before publishing it in a ready to use format.”
“John Snow Labs datasets are ready to use for analysis or model training and reduce your reference data preparation efforts to zero,” added Trambitas.
The data science platform market is expected to grow to over $100 billion by 2021 and $385 billion by 2025. The healthcare industry in particular is embracing the need for data science platforms to deliver deeper insights into health and lifestyle data. Currently, data science platforms are often developed, installed and managed by data science companies, restricting access to companies and researchers who acquire these services. John Snow Labs allows individuals, startups, hospital and healthcare institutions to instantly gain access to data packages required to build their products and services.
Disclosure: This article includes a client of an Espacio portfolio company