Healthcare Cloud Computing Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Japan, China, India, Australia, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE) Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI242
Healthcare Cloud Computing Market size is projected to experience significant growth from 2019 to 2025.
Growing urge of healthcare providers to adopt technologically upgraded software and solutions is expected to drive the healthcare cloud computing market growth over forthcoming years. Demand for cloud computing solutions is specifically high in developing countries due to large amount of patient data generated every year. Recently developed software have several benefits such as easy data access and data security. Additionally, healthcare software also offers maximum flexibility and data integrity to the users. Therefore, high adoption of such upgraded software will positively influence the healthcare cloud computing market.
Increasing involvement of IT companies in healthcare sector leads to development in innovative healthcare IT software. Companies such as IBM, Carecloud, Oracle provide IT solutions and software to efficiently manage healthcare operations. For instance, Oracle’s ERP cloud reduces cost and provide standardized financial processes. Oracle’s ERP cloud enabled RHT health trust to save operational cost by 40%. Therefore, applications provided by such solutions will increase its adoption among healthcare providers. However, lack of skilled technicians to operate software will impede the industry growth to some extent.
Clinical information systems segment will show considerable growth during analysis timeframe. Clinical information includes electronic health record, telehealth software, picture archiving & communication System, laboratory information management system, radiology information systems. Electronic health records are automated system containing clinical data about patients used in treatment. Currently clinical information systems are useful in critical care such as ICUs to efficiently manage patient data. Also, telehealth software provide health related services and allows long distance patient care thus, huge demand for clinical information systems from hospitals and healthcare providers will positively impact segmental growth.
Software segment will show lucrative growth during analysis period. Recently developed healthcare cloud IT software can address wide range of issues ranging from data storage to data management. Healthcare cloud software such as EMR systems, EHR systems, e-prescribing has proven its efficiency in managing big data, providing accurate outcomes and to analyze patient information. Thus, growing applications of software in healthcare industry has substantially boosted the segmental growth in the upcoming years.
Private cloud segment will show considerable growth during forecast period. Private cloud models are owned by single organization that enables use of cloud computing technology as a centralized IT resource that can be accessible by different departments and location of the organization. Private cloud provides data protection that is added advantage. Thus, most of the organizations prefer private cloud solutions over public cloud. However, high prices associated with private cloud solutions will hamper the segmental growth.
Health insurance company segment will show lucrative growth during analysis period as recently developed software are utilized extensively in claims processing. Increasing adoption of software to automate claim processing will impact segment growth. For instance, PLEXIS deliver comprehensive enterprise platform to automate claims processing that will be beneficial for segmental growth.
U.S. dominated North America healthcare cloud computing market. Increasing healthcare expenditure in U.S. leads to development of better healthcare solutions. For instance, U.S. spends USD 3.5 trillion on healthcare services and public health activities. Increasing healthcare expenditure will create large amount of data and that will surge demand for technologically advanced software for processing the data. Moreover, government is taking initiatives to create awareness about cloud computing. For instance, National Institutes of health (NIH), launched new initiatives to utilize the power of commercial cloud computing services to provide cost-effective and advanced computational infrastructure that will positively influence industry growth.
Major industry players in healthcare cloud computing market are athenahealth Inc, Carestream Health, Cisco Systems, IBM, EMC, Oracle, Carecloud, Cleardata, GNAX Health and Merge Healthcare. Industry players focus on innovative product launch as their main strategies as well as mergers and acquisitions to expand existing product portfolio and capture high market share. For instance, in October 2017, Oracle launched cloud mitigation service to provide cost-effective IT solutions.
Healthcare Cloud Computing Market by Application, 2014-2025 (USD Million)
- Clinical Information Systems
- Electronic Medical Record
- Picture Archiving & Communication System (PACS)
- Pharmacy Information Systems
- Laboratory Information Management System
- Radiology Information Systems
- Nonclinical Information Systems
- Revenue Cycle Management
- Supply Chain Management Solutions
- Health Information Exchange
Healthcare Cloud Computing Market by Component, 2014-2025 (USD Million)
- Software as a Service (SaaS)
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
Healthcare Cloud Computing Market by Deployment, 2014-2025 (USD Million)
- Public cloud
- Private cloud
Healthcare Cloud Computing Market by End-use, 2014-2025 (USD Million)
- Research labs
- Health insurance companies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Carestream Health
- GNAX Health
- Merge Healthcare
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