Healthcare Cloud Computing Market Insight
Market Research Future (MRFR)’s extensive study confirms that the healthcare computing market 2020 can boom at a significant rate between 2018 and 2023 (analysis period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Healthcare Cloud Computing Market Top Boosters and Restraints
The foremost reason for the significant market growth is the surging uptake of cloud computing software by a rising number of healthcare professionals across the globe. The latest and highly advanced cloud computing solutions are increasingly being used in laboratories and hospitals for efficient patient data management. Also, the increasing generation of administrative and clinical data in hospitals and laboratories calls for efficient software to carry out maintenance and analysis. Therefore, the voluminous data generation and the rising need for effective software bolster the demand for healthcare cloud computing technology in the healthcare sector.
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Prominent market participants are introducing services and software that enable integrating and storing huge healthcare data, leading to further business growth. Since this software allows easy access to extensive patient data, healthcare professionals are able to achieve accurate and sound decisions in a short period. The adoption of healthcare cloud computing software has also escalated owing to the fact that is helps boost hospital administration and facilitates fraud prevention, among other benefits.
Supportive regulatory framework ensures top quality of healthcare cloud computing solutions and software, which results in their strong demand. Regulatory authorities like EU Commission and the U.S. FDA frame guidelines and laws that bring down the defects in systems and software developed by renowned industry firms, resulting in further market expansion. Many of the players adopt several strategies such as acquisition, product launch and partnerships to uplift their market position. To illustrate, in October 2020, ZEISS Group partnered with Microsoft Corp. to accelerate its entry into the cloud computing arena. The partnership and the resultant expansion of the cloud computing platform will ensure improved patient care and efficient manufacturing.
Healthcare Cloud Computing Market Segmentation
The global healthcare cloud computing market is segmented in MRFR’s report on the basis of applications, deployment, service and end-user.
Healthcare cloud computing has applications in Clinical Information System (CIS) and Non-Clinical Information System (NCIS). The CIS-based segments are computerized physician order entry system (CPOE), pharmacy information system (PIS), electronic health records (EHR), and others.
Deployment-based segments of healthcare cloud computing are public cloud, hybrid cloud and private cloud.
Healthcare players and healthcare providers are the key end-users in the healthcare cloud computing industry.
Healthcare Cloud Computing Market Regional Insight
The global market can be regionally considered for Latin America, Europe, APAC/Asia Pacific, MEA/Middle East and Africa and North America.
The high frequency of technological innovations in healthcare cloud computing solutions and the resultant increase in its adoption by healthcare providers has helped North America take the lead in the global market. Favorable regulatory scenario has ensured high availability of upgraded and efficient software and solutions, leading the market to greater heights in the region. Moreover, the expanding geriatric populace that is highly susceptible to numerous diseases has spurred the number of hospital admissions, which has been favorable for the healthcare cloud computing market in North America.
The APAC market benefits largely from the rising uptake of wearable devices, IoT and big data analytics in healthcare. Developing economies such as India and China are extremely populous with a vast patient population, which boosts the need for efficient healthcare technologies like healthcare cloud computing. The market growth is also bolstered by the rising number of initiatives by various countries to improve the healthcare system and the efforts to modify the existing policies, in terms of more digitalization and higher use of cloud computing solutions.
Healthcare Cloud Computing Market Key Market Firms
The key market firms mentioned in the MRFR report are Athena Health Inc., NextGen Healthcare, CareCloud Corporation, Agfa-Gevaert N.V., ClearData Networks Inc., Nuance Communications, Sectra AB, GE Healthcare, Microsoft Corporation, Dell Inc, Merge Healthcare Inc., Cerner Corporation, Carestream Corporation, Oracle Corporation, Siemens Healthineers, IBM Corporation, to list a few.
Healthcare Cloud Computing Market Latest News
September 2020: Hyland Software has acquired Alfresco Software; a move that can usher the former into the cloud computing market. The move will enhance Hyland Software’s advanced cloud computing platform, as the company entrenches itself into the healthcare vertical, among others.
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