The global healthcare cloud computing market is estimated to be valued at USD XX million in 2016 and is projected to reach USD XX million by the end of 2021, at a CAGR of XX% during the forecast period from 2016 to 2021. A healthcare cloud is a cloud computing service used for storing, maintaining and backing up personal health information by healthcare providers; the technology opens endless opportunities to the beneficiaries of healthcare. The information is capable of being stored on on-site physical servers. The cloud has the following characteristics viz. on-demand self-service, broad network access, resource pooling, rapid elasticity and measured services.
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The benefits of a healthcare cloud are data analytics, options for mobility, collaboration with patients, doctors, peers and healthcare providers etc. The prime reason for the adoption of the technology is to the need to control rising healthcare costs and quality. Cloud computing provides for an infrastructure that allows hospitals, medical infrastructures, insurance firms and research facilities to improve their computational facilities at a much lower capital outlay.
The market is majorly driven by the emergence of big data and the rise in the adoption of information technology into different domains. Favourable government regulations and the implementation of the Patient Protection and Affordable Care Act, dynamic health benefit plans, new payment models and the gradual shift in the industry towards an information-centric model are some of the prominent factors driving the market growth. However, the lack of interoperability and industry standards, data security issues, lack of experiences professionals are factors of restraints for the market growth.
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The global healthcare cloud computing market has been segmented by components: hardware, software and services; by applications: Clinical Information Systems (CIS) and Nonclinical Information Systems (NCIS); by deployment: private cloud, public cloud and hybrid cloud; by service model: Software-as-a-service (SaaS), Infrastructure-as-a-service (IaaS) and Platform-as-a-service (PaaS), and by pricing model: Pay-as-you-go and spot pricing. The Clinical Information Systems (CIS) has been further segmented into Electronic Medical Record (EMR), Picture Archiving & Communication System (PACS), Radiology Information System (RIS), Computerized Physician Order Entry (CPOE) and Pharmacy Information System (PIS); and Nonclinical Information System (NCIS) into revenue cycle management (RCM), Automatic Patient Billing (ABP), Payroll Management, Claims Management and Cost Accounting.
The global healthcare cloud computing market has also been geographically segmented into North America, Europe, Asia Pacific, Middle East & North Africa and Latin America, with North America dominating the global market. Asia Pacific is also an emerging market which has a scope for growth and can potentially dominate the market in the future.
The global healthcare cloud computing market is growing due to the opportunities in Telecloud, use of mobile devices for delivery of healthcare services, and increase in the number of Accountable Care Organizations (ACOs) formed. The major companies dominating the market with its products, services, and continuous product developments are IBM, Intel, Microsoft, GE Healthcare, Oracle, Cisco, Dell, Amazon Web Services, etc.
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Key Deliverables in the Study
Market analysis for the global healthcare cloud computing market, with region specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market shares.
Identification and analysis of the macro and micro factors that affect the healthcare cloud computing market on both global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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