Healthcare Cloud Computing Market Financial Overview and Growth Prospects Predicted by 2027
Market Insights
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.
Market Research
Future (MRFR) studied the cloud computing market 2020 through the review period
till 2023. As per MRFR analysis, the global healthcare
cloud computing market is anticipated to register considerable CAGR and
earn substantial revenue by end of the review period. The ingression of
cloud-based technology in healthcare facilities offers several important
benefits that aid in boosting operations efficiency of organizations. The cloud
deployment of IT software assists in the collection of real-time data and data retrieval
with greater convenience and eliminate manual errors. Document processing is a
rigorous task in healthcare facilities and cloud computing only accelerates
work with better performance efficacy. Moreover, cloud computing curbs the
overall costs as it eliminates the need for physical infrastructure. These are
identified as some potential factors that can promote the global healthcare
cloud computing market in the years to come.
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Key
Players
GE Healthcare,
IBM Corporation, Athena Health Inc., Sectra AB, Carestream Corporation,
CareCloud Corporation, ClearData Networks Inc., Agfa-Gevaert N.V., Nuance Communications,
NextGen Healthcare, Microsoft Corporation, Oracle Corporation, Cerner
Corporation, Siemens Healthineers, Dell Inc, and Merge Healthcare Inc. are some
major companies in the global healthcare cloud computing market that are listed
by MRFR. Innovations by marketers are observed to cast significant impact on
the competitive landscape of the global healthcare cloud computing market.
The IT revolution and upscaling demand for cloud computing have positively influenced the healthcare sector. The large volume of data generated in the healthcare sector has encouraged the enormous adoption of cloud computing solutions. Moreover, the voluminous data generation has further increased the need for scalability and flexibility in working dynamics. Top-notch healthcare cloud computing players are actively investing in the development of improved and new services that will continue to optimize operations in complex and large industries; such as healthcare. These are other causes that are expected to add momentum to the healthcare cloud computing.
Market
Segmentation
The segment
study of the global healthcare cloud computing market is based on deployment,
applications, service, and end-user among others.
The
application-based segments of the healthcare cloud computing market are
Clinical Information System (CIS) and Non -Clinical Information System (NCIS).
The CIS segment studies electronic health records (EHR), pharmacy information
system (PIS), and computerized physician order entry system (CPOE) among
others. The growing demand for non-clinical information system, along with
electronic health records solutions, can favor the market surge in the study
tenure.
The
deployment-based segments of the healthcare cloud computing market are hybrid
cloud, private cloud, and public cloud. The public cloud segment is expected to
rise at considerable CAGR by 2023. However, increase in cases of cyber data
breach and growing awareness about security threats in case of public cloud is
driving the adoption of private cloud that is expected to support the
healthcare cloud computing market rise through the rapid growth of the private
segment.
The service-based segments of the healthcare cloud computing market are innovative forms, such as; Infrastructure-As-A-Service, Software-As-A-Service (SaaS), and Platform-As-A-Service. The software as a service is observed to gain traction due to its large-scale and diversified utility, which can bolster the SaaS healthcare cloud computing segment rise. The platform as a service segment is anticipated to rise at high pace and acquire significant share of the global market. The increasing adoption of infrastructure as a service is likely to improve its segment impetus, thus favor the market
Regional
Analysis
The US is
expected to garner decent revenue for the North America healthcare cloud
computing market in the near future. The presence of a high concentration of
marketers in the region and expansion of the healthcare sector are likely to
contribute to the regional healthcare cloud computing market. The concentration
of developed economies displaying affinity for advanced technologies is
observed to add momentum to the market.
In Asia Pacific, the healthcare cloud computing market is likely to thrive due to the fast-paced development of the healthcare sector. India, Australia, and China are some countries in the region with massive patient population and are investing in innovations that can boost efficacy of operations in treating these masses. Thus, the surge in rate of adoption of advanced healthcare cloud computing solutions can prompt APAC market during the forecast term.
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