According to a new market research report "Healthcare Cloud Computing Market by Application (EMR/HER, PACS, VNA, PHM, RECM), Service (SaaS, IaaS), Deployment (Private Cloud, Hybrid Cloud), Pricing (Pay as you go), Component (Software), End User (Healthcare Provider) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is expected to reach USD 44.93 billion by 2023 from USD 19.46 billion in 2018, at a CAGR of 18.2%.
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The key factors driving the growth of this 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.
By application, the clinical information systems segment held the largest share of the market in 2018
By application, the Healthcare Cloud Computing Market is segmented into clinical information systems and the nonclinical information systems. In 2018, the clinical information systems segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to rising prevalence of chronic disease and rising geriatric population leading to increasing volume of patient data.
By deployment model, the private cloud segment held the largest share of the market in 2018
By application, the Healthcare Cloud Computing Market is segmented into private cloud, hybrid cloud, and public cloud models. In 2018, the private cloud segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to its higher adoption owing to its better security.
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.
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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