Healthcare Cloud Computing Market Growing At A Healthy CAGR Of 18.6% During The Forecast Period From 2021 To 2027

Precision Business Insights published a research report on “Healthcare Cloud Computing Market By Product Type (Hardware, Software, Services), Deployment model (Hybrid cloud, Public cloud, Private cloud), Application (Clinical information systems, Non-clinical information systems), service model (Information service, Software service, Platform service), End-user (Healthcare Payers, Healthcare providers, Others) and Geography - Global/Region/Country Forecast to 2027”.

One of the most widely utilized applications in healthcare is cloud computing. Healthcare companies are very worried about the privacy and security of patient data, and the burden of handling the expanding amount of healthcare data has prompted the adoption of cost-effective alternatives like cloud computing. As a result, healthcare organizations are embracing cloud computing as a viable data storage option. This technology has a number of advantages, including increased business agility, improved privacy and security, and lower costs. The growing use of information technology in the healthcare business has resulted in a rise in cloud computing usage by the worldwide healthcare industry in cloud computing industry.

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Rising use of IoT devices in healthcare, as well as increased usage of different smart wearable gadgets among patients to keep track of their health, are likely to propel the worldwide market forward. Furthermore, increased internet penetration and the development of innovative payment structures to enable healthcare services are among the other factors predicted to boost worldwide market growth to some extent. Furthermore, hospitals and clinics are increasingly using cloud services due to many benefits such as flexibility, greater storage, and data scalability, which makes data sharing and workflow management easier. Another element that is likely to enhance worldwide market expansion is this. Other factors likely to help the target market's growth include increased government investment on healthcare infrastructure development and a focus on establishing strict regulatory compliance. Data breaches and data privacy concerns, on the other hand, are projected to stifle worldwide market growth. In addition, a lack of infrastructure and issues with data portability are two more challenges that are predicted to stymie worldwide market expansion to some extent.

The Healthcare cloud computing market is fragmented on the basis of application, component, service model, pricing model, deployment, and end user. On the basis of component, the healthcare cloud computing market is divided into services and hardware. The healthcare cloud computing market is segregated on the basis of application which is further divided into non-clinical information systems and clinical information systems. On the basis of service model, the healthcare cloud computing market is divided into infrastructure-as-a-service, software-as-a-service, and platform-as-a-service. On the basis of deployment, the healthcare cloud computing market is categorized into public cloud, private cloud, and hybrid cloud. Based on pricing model, the healthcare cloud computing market is segmented into spot pricing model and pay-as-you-go. In terms of end user, the healthcare cloud computing market is bifurcated into healthcare providers and healthcare payers.

In terms of revenue, North America is predicted to lead the worldwide market, and this dominance is expected to continue during the projection period. This may be linked to the region's well-developed IT infrastructure, significant adoption of IoT in healthcare, and the presence of large service providers. Furthermore, increased merger and acquisition activity between regional and international businesses is projected to assist the target market's growth in this area to some extent. Because of increased government spending on healthcare infrastructure development, high internet penetration, and increased usage of smart wearable devices, the market in Asia Pacific is likely to grow quicker. Over the projection period, the Latin American market is predicted to increase at a modest pace. The increase can be ascribed to the presence of large manufacturers, as well as increased government investment in the healthcare sector.

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There are some major players working in healthcare cloud computing market, which include GNAX Health (U.S.) CareCloud Corporation (U.S.) Athenahealth, Inc. (U.S.) Iron Mountain, Inc. (U.S.) ClearData Networks, Inc. (U.S.) IBM Corporation (U.S.) Nextgen Healthcare Information Systems (QSI Management, LLC) (U.S.) Carestream Health (U.S.) VMware, Inc. (U.S.) Merge Healthcare, Inc. (U.S.) Roper Technologies, Inc. (U.S.)

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