Healthcare Databases have Cloud-Based Implementations for Faster Response Times

Cloud computing is one of the major modern trends being followed in almost all industry verticals. Adopting cloud technology allows an organization to be faster, more efficient, and in a position to use high-end software, which can rapidly increase output. The use of cloud computing in healthcare is highly diverse and currently in a formative stage, where the use of modern technology is creating a large scope of growth for this market. Cloud computing can offer a unique advantage to most verticals – that of being relatively low-cost while still giving access to high-end software and storage options to help speed up processes.

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The competitive landscape of the global cloud computing market in the healthcare industry is crowded by the presence of a large number of players. The presence of a large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., and Oracle Corp

Concerns About Data Leakage is a Major Challenge for Market Players

Rapid transformations in the healthcare IT sector, coupled with the growing demand for security of access and data integrity have supported the growth of cloud computing in the healthcare industry. “An increasing number of companies are reducing investments in the creation and maintenance of a physical IT infrastructure and are shifting towards cloud computing for easier management of profiles,” states TMR.

However, data relocation from established systems is a major hiccup in the market’s growth during the forecast horizon. Data integration and consistency is also another challenge faced by the market players. The growing concerns pertaining to data leakage have made a number of healthcare providers apprehensive about the adoption of the cloud computing technology. The market players are focusing on the introduction of wireless technologies in cloud computing solutions to allow remote access of data on a real-time basis. The increasing usage of ACOS for data sharing through mobile devices has created ample opportunities for the growth of the market players.

PaaS to be Largely Preferred by the Healthcare Industry

Among the major service models, the Platform-as-a-Service (PaaS) model is expected to register the highest demand. “Simple application and high rate of deployment are the primary factors driving the demand for the PaaS model,” states TMR. The PaaS model does not rely on hardware and software and offers support within the service’s lifecycle. Though the market was dominated by the IaaS model in 2011, PaaS is anticipated to generate more revenue in the years to come.

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The global cloud computing market in the healthcare industry is projected to expand robustly at a CAGR of 21.30% during the period between 2012 and 2018. The market was valued at US$1.82 bn in 2011 and is anticipated to be worth US$6.79 bn by 2018.

In terms of service model, the report expects most consumers to prefer PaaS cloud computing as it offers the greatest number of advantages to the healthcare industry. PaaS cloud computing holds rapid deployment speeds and simple application, allowing it to be used on a wider scale than other service models. Additionally, PaaS cloud computing does not entail software or hardware reliance for the client, as the service provider can offer both.

The report also describes the numerous public, private, and hybrid cloud services in the market and how they affect the global cloud computing market in the healthcare industry.

From a geographical perspective, the global cloud computing market in the healthcare industry was dominated by North America in 2011. The report expects North America to continue leading this market for the given forecast period, while Europe and Asia Pacific follow closely.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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