Healthcare Cloud Computing Market Assessment Till 2021

Integration of information and technology with healthcare systems has increased tremendously in the past decade. Large numbers of medical devices are connected to smartphones or hospital servers to continuously track and monitor vital parameters of patients. There has been a surge for medical data in digitalized form. This data is fed not only through hospital patient information systems, but through a plethora of smartphone apps used by billions of individuals globally. Images obtained from MRI, CT, PET, X-ray, ultrasound, endoscopy and others have also increased drastically. With increasing size of medical data being generated each day, there is an urgent need of efficient data storage and data management systems that can be accessed anytime during emergency. The healthcare cloud computing market has provided cost effective solutions in managing clinical trial data. Increasing application of DNA sequencing has also led to surge in amount of genetic data that needs to be analyzed and securely stored. Advent of 2nd and 3rd generation sequencers has enables cost effective sequencing and also allowed successful implementation of the sequencing technology in healthcare diagnostics. These factors have been a major drivers for the global healthcare cloud computing market.

Efficiency in data management and sharing has increased many folds due to application of cloud in healthcare. One of the most important applications within the healthcare cloud computing market is in telemedicine. Doctors can access patient data placed in remote locations, and consult through video conferencing and telephonic interactions. To assure data security, The Department of Health and Human Services Office of Civil Rights recently issued guidance on Health Insurance Portability and Accountability Act (HIPAA) and cloud computing, that confirms cloud services providers are business associates under HIPAA. Other challenges that the healthcare sector is currently facing is the compatibility of currently installed infrastructure being incompatible with cloud setup required. This dictated extra investment in complete implementation of cloud computing.

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North America and Europe currently have widespread integration of information and technology services in medical sector. Hence the cloud computing market is rapidly growing in these regions. In Asia Pacific, healthcare IT services are been currently used majorly by larger hospitals. However penetration of smartphone and healthcare apps has been rapid. Healthcare cloud computing market is forecast to witness fastest growth in the Asia Pacific region considering rapid economic development in countries such as Japan, China, Australia, India, Singapore, Thailand and others. Increasing trend for adoption of new technology medical devices that produce medical results in digitalized form and simultaneously increasing per capita income has leveraged the overall healthcare cloud computing market growth.

Key players in the healthcare cloud computing market include Allscripts Healthcare Solutions, Inc., Carestream Health, Inc., ClearDATA, GE Healthcare, IBM, Intel Corporation, Amazon Web Service, and others.

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