N. American healthcare cloud computing market to reach $6.5B by 2018

Laura Pedulli | | Health Exec | Economics

The North American healthcare cloud computing market is predicted to grow to almost $6.5 billion by 2018, according to a report from research firm MarketsandMarkets.

The market, valued at $1.7 billion in 2013, is poised to grow at a CAGR of 29.8 percent from 2013 to 2018.

The increased adoption of health IT, federal legislative reforms, the dynamic nature of health benefit plans, the proliferation of new payment models, improvements in storage technologies and greater flexibility and scalability of data all are driving adoption of cloud computing in the healthcare industry, according to the report.

However, growth is somewhat hindered by data security concerns and reduced control over applications and content.

The market is categorized into five broad segments: Applications, deployment mode, services, pricing model, components, end users and geography. The healthcare cloud computing market, by application, comprises clinical and non-clinical information systems applicable for the healthcare providers and payers industry, according to the research firm.

 

Laura Pedulli

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