Nov 24, 2021, 11:15 ET
DUBLIN, Nov. 24, 2021 /PRNewswire/ -- The "Healthcare Cloud Computing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Healthcare Cloud Computing Market to Reach $76.8 Billion by 2026
Global market for Healthcare Cloud Computing estimated at US$26.8 Billion in the year 2020, is projected to reach a revised size of US$76.8 Billion by 2026, growing at a CAGR of 18.7% over the analysis period.
Services, one of the segments analyzed in the report, is projected to grow at a 19.6% CAGR to reach US$70.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 15.9% CAGR for the next 7-year period. This segment currently accounts for a 24.6% share of the global Healthcare Cloud Computing market.
Key benefits offered by IT technologies that enable providers to tackle the healthcare value challenge, include development of evidence based care, enhancement in medical practice efficiencies, and significant cost savings, among numerous others. The proliferation of cloud computing in healthcare helps drive these benefits further by adding capabilities such as such as mobility, collaboration with patients and peers, easy archiving of electronic records, streamlined collaboration, ability to access and deploy high-powered analytics, telemedicine capabilities, and simplification of data storage challenges, among others.
loud computing technology also offers several benefits to healthcare providers such as hospitals, physician clinics, and health clinics that need quick access to large storage facilities and computing. With cloud computing, healthcare providers can easily share healthcare data across regions, thereby eliminating delays in patient treatment.
Cloud-based solutions also allow healthcare organizations to improve patient care and reduce costs of deploying IT infrastructure. Software as a Service (SaaS), for instance, has come as a boon for small-scale healthcare facilities keen on incorporating IT in their service delivery. SaaS has all the ingredients for small scale implementations, including low initial investments, and need for very less or no IT proficiency.
Major factor favoring adoption of cloud-based approaches to healthcare include cloud computing`s ability to allow mobilization of patient data among physicians, hospitals, and laboratories to provide improved services to patients and enhance operational efficiency.
Applications of cloud in the healthcare industry include physician order entry, electronic health records (EHRs), software for pharmacy and imaging use, revenue cycle management, claims management, and patient billing. Healthcare organizations are increasingly turning to cloud computing in order to reduce costs of storing hardware locally.
The technology is also gaining wider acceptance driven by the fact that the cloud can hold big data sets for genomic data, radiology images, and EHRs for clinical drug trials. Furthermore, growing need for storing radiology images in PACS (Archiving and Communication Systems) is also driving adoption of cloud computing technology in the healthcare industry.
Leveraging the benefits of cloud delivery models, healthcare organizations are provisioning storage and management of their healthcare IT resources as services over cloud, wherein a third party cloud service provider hosts healthcare information systems on remote cloud servers and provides access to the same directly to the users over the Internet as a service.
In this context, information captured by client devices from different functional areas in a healthcare facility are directly transferred to respective healthcare information systems hosted on a centralized cloud data center, where they are not only stored and archived but can also managed and controlled remotely by cloud service providers.
By helping provide access to healthcare information systems and data hosted on external cloud servers to healthcare organizations over the Internet in shared/multi-tenant, dedicated or hybrid service models, healthcare cloud computing especially comes across as the most cost effective healthcare information system provisioning model for healthcare organizations.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Rising Healthcare Costs & Migration to Value Based Care Spin World Healthcare Economics On its Head
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- India's Second Wave Makes It Clear That Equity is Not a Part of Global Policy on Tackling COVID
- Progress on Vaccinations, Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback
- A Retrospective Review of Year 2020 as the Worst Year in Humanity's History that Left the World in Shambles & Industries and Markets Upended
- Healthcare Cloud Computing: Definition, Scope & Importance
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 115 Featured)
- Amazon.com, Inc.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Salesforce.com, Inc.
3. MARKET TRENDS & DRIVERS
- Rise of IT in Healthcare Provides the Cornerstone for the Rise & Rise of Healthcare Cloud Computing
- High Costs of In-House Management of Healthcare Information Systems Drives Migration to Cloud
- Here's How the Cloud Helps Save Money & Optimize Costs
- COVID-19 Accelerates Digitalization in Healthcare Benefiting Cloud as the Starting Point for the Digital Journey
- Massive Shift Towards Telemedicine Spurs Adoption of Cloud Computing
- Here's How the Cloud Enables Telemedicine Capabilities
- Here's How the Cloud is Taking Over All Facets of Healthcare Operations
- Cloud Based Clinical Information Systems (CIS) Replaces Conventional CIS
- Cloud Based EMR Score Over Traditional Client-Server Models
- Cloud PACS Takes Imaging to the Cloud & Grows in Prominence
- Strict Healthcare Data Compliance Pushes Up the Importance of HIPAA Compliant Cloud
- Strict HIPAA Regulations Spur Interest in Private Cloud & Community Healthcare Cloud
- Significance of Clouds that are HIPAA-Compliant
- A Diverse Healthcare Environment & Need for Load Balancing Spur Interest in Hybrid Cloud
- Growing Security Concerns Spur Adoption of Encryption & MFA in Public Healthcare Clouds
- Big Data Spurs Cloud Adoption in Healthcare
- "The Cloud" is a Perfect Fit for Healthcare Big Data
- Rise of E-Pharmacies Spurs Adoption of Cloud Computing
- What this Means for Cloud?
- Cloud Enables Delivery of Personalized Healthcare. Here's How
- Cloud-based Drug Discovery Platforms Rise in Popularity
- Cloud-Based Patient Billing & Claims Management Rises in Prominence
- Cloud-Based Healthcare Robotics Gains Ground
- Major Challenges Haunting Cloud Adoption in Healthcare
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/txu0vx
Research and Markets
Laura Wood, Senior Manager
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