Healthcare Cloud Computing Market (Clinical, EMR, SaaS, Private, Public, Hybrid) Worth $5.4 Billion by 2017 - Report by MarketsandMarkets
The “Healthcare Cloud Computing (Clinical, EMR, SaaS, Private, Public, Hybrid) Market - Global Trends, Challenges, Opportunities & Forecasts (2012 – 2017)”, analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.
Browse more than 100 market data tables spread through 231 pages and in-depth TOC of “Healthcare Cloud Computing Market"
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This report studies the global healthcare cloud computing market over the forecast period 2012-2017. Cloud computing market in healthcare is estimated to grow at a CAGR of 20.5% from 2012 to 2017. The global Healthcare cloud computing market revenue is expected to increase from $1.8 billion in 2011 to 5.4 billion by 2017.
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Cloud computing is estimated to serve as a boon to the healthcare industry and the market is witnessing an increased adoption of this technology. In 2011, the penetration of cloud in healthcare was approximately 4%. A large number of HCOs are allocating funds for migration to cloud computing in the next five years.
Cloud technology in healthcare market can be segmented by applications, deployment models, service models, pricing models, and components. Applications in healthcare are of two main types; Clinical Information Systems (CIS) and Non Clinical Information Systems (NCIS). CIS includes EMR, CPOE, PACS, RIS, LIS, PIS, and others while NCIS includes Revenue Cycle Management, Automatic Patient Billing, cost accounting, payroll management, and claims management.
The market is witnessing a surge in the adoption of technology and cloud computing is expected to bring about a revolution in the healthcare IT market. Healthcare organizations are expected to deliver more while limiting healthcare costs at the same time. Despite this a few factors restrain the growth of this market with security and privacy concerns being the primary reasons for slow adoption of this technology.
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Cloud computing is a utility based or pay-per-use type of a service and the market can be categorized by two types of pricing models offered by the service vendors, the pay-as-you-go model and the subscription-based or spot pricing model. The fifth segmentation of the market is by its components namely, software, hardware, and services.
Private, public, and hybrid clouds are the three deployment models across the healthcare industry. The healthcare industry has been slow to adopt public clouds due to its highly regulated nature where as the private and hybrid cloud models have a higher affinity. The healthcare cloud market by service models is further classified into Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS). The market is dominated by SaaS providers such as Carestream Health, Inc. and GE Healthcare (U.K.).
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