Recently MarketResearchReports.biz has added a new market study to its repository that offers useful insights into the latest trend of leveraging cloud computing by healthcare players to bring down their capital and operational costs. Cloud-based telehealth services, for example, do away with the need to install hardware and other infrastructure that is set up in hospitals and telecardiology centers. It is also gaining popularity with organizations opting for an information-centric business approach. In fact, cloud-based solutions are fast supplanting on-premise software solutions in the healthcare segment.
The report predicts the global healthcare cloud computing market to clock a stellar CAGR of 21.24% from 2017 to 2021.
The market study, titled, “Global Healthcare Cloud Computing Market 2017–2021,” finds the growing uptake of healthcare informatics as one of the primary growth drivers of the market. This is because cloud-based applications have massive storage capacity that enables storing data intensive medical images and other crucial information. Further, the information and images can be accessed from any geographic location. Other factors supporting growth in the market are the shift from ICD-9 to ICD-10, the advent of digital healthcare services and health 3.0., and the soaring popularity of service-oriented architecture in the domain of healthcare.
Countering the growth in the global market for healthcare cloud computing are the problem of system integration and interoperability issues, concerns about data privacy and security on account of the vulnerability of public cloud, patchy network, and bandwidth glitches. The report also chronicles some of the key trends in the market such as the emergence of cloud analytics in healthcare, increased adoption of cloud computing for telemedicine and in research of genome, popularity of cloud brokerage services, increasing take-up of cloud-based e-prescription and medical transcription, the reformation of healthcare BPO services by BPaasS, and progress in connected healthcare technologies.
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Additionally, the report segments the market based on the services available into software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS). Among them, SaaS is exhibiting maximum growth in the healthcare domain and going forward, will continue to outpace all other segments on account of its ability to lessen the initial investment required for software licensing and the lesser time taken to implement it compared to on-premises software solutions.
From a geographical perspective, the Americas hold a sway over the market on the back of increasing number of IT investments in the healthcare industry and laws mandating maintaining electronic data for patients. Overall, the global healthcare cloud computing market is highly competitive and diversified on account of a copious number of regional and international players worldwide. Some of the key players operating in the market profiled in the report are Salesforce, Amazon Web Services, Oracle, GE, and IBM.
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