Healthcare Cloud Computing Market – Scenario
The Global Healthcare Cloud Computing Market is experiencing increasing traction owing to the rising uptake of cloud computing in small, medium, and large healthcare setups, worldwide. The volume of digital data in healthcare centers has multiplied over the years owing to changes in payment modes, increasing patient pool, etc. Advances in technology and increasing healthcare expenditure have further catalyzed the growth of the market.
The need for the deployment of cloud computing and cutting-edge analytical tools has intensified, enhancing operational efficiency. These factors subsequently escalate the market on the global platform. According to Market Research Future (MRFR), the global healthcare cloud computing market is expected to expand exponentially by 2023. In its recently published analysis, MRFR also asserts that during the forecast period (2018 – 2023) the market would register a phenomenal CAGR.
The market value has increased tremendously in recent years and is expected to continue with the same growth trends in the future. The rising adoption of Internet of Things (IoT) has accelerated the integration of cloud computing in the healthcare sector. Additionally, factors such as growing demand for technologically upgraded services, an increase in the numbers of professional and managed services, alongside, the increasing awareness about cost-effective cloud-based healthcare services drive the market growth, predominantly.
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On the other hand, data security, coupled with the possible challenges presented during the migration to cloud-computing like incompatibility with legacy systems, etc., are expected to impede the growth of the market during the anticipated period. Nevertheless, widespread adoptions of cloud computing and wireless technology in healthcare sectors would support the growth of the market throughout the review period.
Highly competitive, the global healthcare cloud computing market appears to be fragmented characterized by the presence of several well-established players. To gain a substantial share in the market, these players incorporate strategies such as mergers & acquisitions, collaboration, expansion, and technology launch. For extensions, these players tap the growing markets. Strategic partnerships support these companies’ growth and expansion plans. These players invest heavily in R&D to develop a technology that is entirely on a different level compared to their competition. Players compete with each other based on factors such as the product and technology launch, quality, reliability, and cost.
Players heading the global healthcare cloud computing market include CareCloud Corporation, International Business Machines (IBM) Corporation, Agfa-Gevaert N.V., Carestream Corporation, Merge Healthcare Inc., Cerner Corporation, Oracle Corporation, Microsoft Corporation, ClearData Networks Inc., Nuance Communications, Sectra AB, GE Healthcare, NextGen Healthcare, Athenahealth Inc., Dell Inc., and Siemens Healthineers, among others.
August 28, 2019 – Google Cloud announced its partnership with a leading IT services provider and global innovation partner – NTT DATA Services (the US) to develop healthcare cloud computing applications. Companies will develop healthcare solutions that help health plans better engage with members and providers in an environment of changing payment models, regulations, and technology.
The partnership would enable providers to deliver better patient outcomes while increasing efficiency and reducing costs by using healthcare cloud computing, artificial intelligence, and data analytics. Google Cloud Platform, offered by Google, is a suite of cloud computing services that runs on the same infrastructure that Google uses internally for its end-user products, such as Google Search and YouTube. NTT DATA is based in more than 40 countries. The company emphasizes long-term commitment and combines global reach and local intimacy to provide premier professional services.
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.
Regional Analysis – Healthcare Cloud Computing Market
North America leads the Global Healthcare Cloud Computing Market with the largest market share. Factors such as the presence of large numbers of players, well-established healthcare sector, and substantially large IT market, substantiate the regional market growth. Also, well-developed infrastructure in the region provides impetus to the market growth, allowing the developments and early access to advanced technologies.
Europe Healthcare Cloud Computing Market is another significant market globally. The market is expected to grow over further by 2023, accounting for a substantial monetarily growth. The high concentration of market players and the presence of a significant healthcare sector are the factors fostering the regional market growth. Many European countries are witnessing economy boom, which is allowing the adoption of advanced technology in the well-established healthcare sector in the region.
The Healthcare Cloud Computing Market in the Asia Pacific region is rapidly emerging as a profitable market globally. The market is further estimated to grow at a considerable CAGR during 2018-2023. The presence of rapidly developing countries such as India & China and the proliferating healthcare sector influence the regional market growth.
Besides, highly populated countries such as India and China, that have a massive patient base create the need to have efficient healthcare services and therefore, encourage the adoption of advanced healthcare cloud computing solutions.
Segments – Healthcare Cloud Computing Market
The report is segmented into five market dynamics to widen the scope of understanding,
By Applications: Non-clinical information system (NCIS) and Clinical information system (CIS).
By Deployment: Private cloud, Public cloud, and Hybrid cloud
By End-user: Healthcare Providers and Healthcare Players.
By Service: Infrastructure-as-a-service (IaaS), Software-as-a-service (SaaS), and Platform-as-a-service (PaaS).
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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