Healthcare Cloud Computing Market worth .93 billion by 2023

Posted by Makarand Vaidya on August 6th, 2019

The key factors driving the growth of Healthcare Cloud Computing Market include increasing adoption of big data, wearable devices, and IoT in healthcare; advantages of cloud usage (such as improved storage, flexibility, and scalability of data); implementation of healthcare reforms such as the Patient Protection and Affordable Care Act; and the dynamic nature of health benefit plan design.

Based on application, the market is segmented into clinical information systems and nonclinical information systems. The clinical information systems segment is expected to grow at the highest CAGR during the forecast period. The high growth in the clinical information systems market can be primarily attributed to the growing prevalence of chronic diseases and rising geriatric population resulting in increased clinical information to be stored. 

Based on type, the clinical information systems segment is further segmented into EMR, PACS, VNA, and image sharing solutions, PHM, telehealth, LIMS, PIS, RIS, and other CIS. The nonclinical information systems market is categorized into RCM, billing and accounts management, financial management, HIE, fraud management, supply chain management, and other NCIS.

Based on deployment model, the healthcare cloud computing market is categorized into private cloud, hybrid cloud, and public cloud models. The hybrid cloud is expected to register the highest CAGR during the forecast period. This can primarily be attributed to the growing demand for hybrid cloud solutions as they offer advantages of public as well as private clouds.

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Based on pricing model, the healthcare cloud computing market is categorized into pay-as-you-go and spot pricing. The pay-as-you-go segment is expected to register the highest CAGR during the forecast period. This can be attributed to the fact that the pay-as-you-go model allows healthcare providers to use the latest software solutions while keeping operating costs at a minimum.

Based on service model, the healthcare cloud computing market is categorized into software-as-a-service, infrastructure-as-a-service, and platform-as-a-service. The infrastructure-as-a-service segment is expected to register the highest CAGR during the forecast period. This can be attributed to the fact that the this model simplifies application development and deployment on the cloud.

By component, the services segment held the largest share of the market in 2018

By component, the healthcare cloud computing market is segmented into software and services. In 2018, the services segment is expected to account for the largest share of the global market. The large share of this segment can be attributed to the recurring nature of services such as training and education, installation, software upgrades, consulting, and maintenance.

North America to dominate the market in 2018

In 2018, North America held the largest share of the healthcare cloud computing market, followed by Europe. Factors such as the increasing adoption of EHRs among medical professionals and active participation by private sector players in the development of the healthcare industry in that region are contributing to the dominant share of this region.

Some of the players in the global healthcare cloud computing market are CareCloud Corporation (US), ClearData Networks Inc. (US), Athenahealth (US), Cerner Corporation (US), Epic Systems Corporation (US), NextGen Healthcare (US), Carestream Corporation (Canada), Dell Inc. (US), DICOM Grid Inc. (US), INFINITT Healthcare (South Korea), Sectra AB (Sweden), Merge Healthcare Inc. (US), Siemens Healthineers (Germany), iTelagen Inc. (US), NTT DATA Corporation (Japan), Nuance Communications (US), and Ambra Health (US).

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Makarand Vaidya

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Makarand Vaidya
Joined: July 3rd, 2019
Articles Posted: 116

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