Research report presented by UnivDatos, Emphasis on Services (Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS)), Deployment (Private, Hybrid, Public), Applications (Clinical Information System, Non-clinical Information System), End-User (Healthcare Providers, Healthcare Payers) and Geographical analysis (key regions and countries).
As per the research report, Global Healthcare Cloud Computing Market is expected to reach the market valuation of US$ 80.5 billion by 2027 expanding at a reasonable CAGR of 14.5% during the forecast period (2021-2027) from US$ 23.7 billion in 2019.
Cloud storage is a self-service network infrastructure that helps users to access computing resources at any time and from any place. Transforming healthcare across the cloud is about more than just delivering patient information from various computers at any moment, everywhere, and on any mobile device. It also discusses the benefits of connecting medical centres and cloud users to exchange patient health data over the Internet. It changes healthcare by allowing medical services to exchange patient details in real-time on acute cases.
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Cloud computing boosts efficiency thereby lowering prices in the healthcare sector. Cloud infrastructure simplifies and secures the exchange of medical records, automates back-end procedures, and simplifies the creation and management of telehealth apps. The increase in healthcare cloud adoption is due to improved patient data management, reduced infrastructure load, and cost savings on the company's side. According to a study by West Monroe Partners, 35% of healthcare institutions surveyed had more than 50% of their data or technology in the cloud. In comparison to other industries, healthcare has been the slowest to embrace cloud technology. The pervasive use of cloud computing in healthcare goes far beyond simply storing cloud architecture data. Healthcare providers are now using this technology to improve efficiencies, streamline workflows, and healthcare delivery expenses, and personalise care strategies to improve efficiency. According to numerous estimates, about 93 percent of cloud providers in healthcare are at a medium-high vulnerability risk, with almost 94 million cumulative healthcare data revealed in the past year. In addition, the average expense of an individual health record is $50, with 7 percent of cloud providers in operation complying with enforcement and compliance standards, and an average health provider uploading 8 TB of data to the cloud each month.
Insights Presented in the Report
“Amongst services, SaaS segment holds the major share”
The sector is divided into three types of services: SaaS, IaaS, and PaaS. Because of increased security, lower cost of ownership, faster implementation time, and limited up-front investment expenses, SaaS dominated the market with a share of 61.3 percent in 2019 and is expected to retain its dominance during the forecast period.
“Amongst deployment, private cloud is anticipated to dominate the market during the analyzed period”
The competition is divided into three categories based on deployment: private cloud, public cloud, and hybrid cloud. Because of the increasing access and leverage it offers companies over their data, Private Cloud accounted for a highest market revenue share of 38.7% in 2019 and is projected to remain dominant throughout the studied timeframe. It allows businesses to personalise their cloud environment and security. The Hybrid cloud, on the other hand, is expected to rise at the fastest CAGR during the projected period.
For a detailed analysis of the applications in the Healthcare Cloud Computing Market browse through – https://univdatos.com/report/global-healthcare-cloud-computing-market-current-analysis-and-forecast-2020-2027
“Amongst application, non-clinical information systems segment dominated the market during the forecast period”
Clinical information systems and non-clinical information systems account for the majority of the industry. Non-clinical information systems held the highest industry sales share of 54.2 percent in 2019 and are projected to continue to do so during the forecast period. Automating cloud-based patient billing and payments saves time, increases practise revenues, and drastically reduces document statement costs. Clinical information systems, on the other hand, are expected to develop at the fastest rate over the forecast period.
“Amongst end-user, Healthcare providers segment holds the major share”
The sector is divided between healthcare providers and healthcare payers based on end-user. Patient data, healthcare providers had the largest market share of 68.4 percent in 2019 and are projected to continue to be the leading segment of the Healthcare Cloud Computing market over the forecast period.
“North America represents one of the largest markets of Healthcare Cloud Computing market”
A systematic research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC), and the Rest of the World, to get a greater understanding of the global dynamics of the Healthcare Cloud Computing Market. Because of the growing adoption of healthcare IT solutions, electronic health records (EHRs) by medical practitioners, regulatory measures, and usability of advanced healthcare IT technology, North America led the industry and delivered revenue of US$ 13.6 billion in 2019. During the forecast period, Asia-Pacific is projected to have the highest CAGR.
The Healthcare Cloud Computing Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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