Market Research Future (MRFR) proclaims that the Global Healthcare Cloud Computing Market is predicted to garner a stellar CAGR during the forecast period (2018-2023).
The surging adoption of the Internet of Things (IoT) has catalyzed the growth of the market across the globe. Cloud computing can be referred to as the practice of using a network of remote servers which are hosted on the internet, in order to manage, store, and process data. Cloud computing does not require a local server and reduces the overall cost efficiently by cutting infrastructural expenses. Cloud computing provides several benefits which have impacted the general market for cloud-based technologies.
Cloud computing helps to reduce the overall cost as it is used without the interference of physical infrastructure. The internet stores and manages data which cuts down the maintenance cost, thereby propelling the healthcare cloud computing market across the globe. With the widespread and high demand for cloud computing and revolution in IT, the overall healthcare sector has been affected positively. The amount of data generated in the healthcare sector has triggered the adoption of cloud computing across the globe. Moreover, major market players of the healthcare cloud computing are actively engaged in the development of improved services which has continued to optimize operations in complex and large sectors, for instance, healthcare.
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The advent of blockchain technology in cloud computing is considered one of the key trends which are anticipated to gain prominence in the global market. The healthcare sector is highly deploying cloud computing systems in order to streamline claims, achieve greater data security, ensure drug supply chain, manage billings, and ensure health research integrity. Blockchain also provides integrity and superior data security to the systems in which is further employed owing to its distributed characteristics. Such factors are expected to bolster the market growth worldwide.
- January 02, 2019: 3M has recently announced their plan to acquire the cloud-based clinical documentation unit of M*Modal for USD 1 billion. 3M has planned to add the Pittsburgh-based M*Modal business to 3M Health Information Systems unit which is a supplier of services and software to healthcare payers and providers.
- In November 2018, ClearDATA, a Texas-based healthcare exclusive cloud provider, has secured USD 26 Mn in its latest funding as an investment for healthcare cloud computing services.
- In December 2018, it has been announced that Magellan Health, an American for-profit managed healthcare company, is adopting software-as-a-service (SaaS) for identity management and other functions as a part of digital
The prominent players operating in the global healthcare cloud computing market comprises Microsoft Corporation, Oracle Corporation, Merge Healthcare Inc., Cerner Corporation, Carestream Corporation, ClearData Networks Inc., International Business Machines (IBM) Corporation, CareCloud Corporation, Agfa-Gevaert N.V., Sectra AB, Siemens Healthineers, GE Healthcare, NextGen Healthcare, Dell Inc., athenahealth Inc., and Nuance Communications.
The healthcare cloud computing market has been segmented on the basis of application, deployment, end-user, and service.
By mode of applications, the global healthcare cloud computing market has been segmented into clinical information system (CIS) and non-clinical information system (NCIS). Among these, the clinical information system is considered to command the major share owing to the increased prevalence of chronic diseases coupled with the surging geriatric population resulting in an increased patient data volume.
By mode of deployment, the global healthcare cloud computing market has been segmented into public cloud, private cloud, and hybrid cloud. Among these, the private cloud is likely to gain prominence in the coming years owing to its higher adoption rate due to better security.
By mode of end-user, the global healthcare cloud computing market has been segmented into healthcare players and healthcare providers.
By mode of service, the global healthcare cloud computing market has been segmented into software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), and platform-as-a-service (PaaS). Among these, the software-as-a-service is anticipated to gain prominence during the appraisal period owing to its easy deployment, less lead time, and service provider’s ownership of support and maintenance tasks.
Geographically, healthcare cloud computing market span across regions namely, Latin America, Europe, Asia Pacific, North America, and the Middle East & Africa.
Considering the global scenario, the healthcare cloud computing market is dominated by the North American region owing to the presence of the U.S. with a high concentration of market players. Also, the presence of a significant healthcare sector is estimated to foster growth. The region also exhibits an affinity for the adoption of advanced technologies, which is further estimated to contribute to the market growth.
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The Asia Pacific region is considered to expand at a rapid pace owing to the presence of well-developed healthcare infrastructure. Economies like China and Japan are among the most populous countries, possessing a massive patient population. The need to have proper operations in order to treat such a huge patient population has triggered the adoption of advanced healthcare cloud computing solutions in this region.
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