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Published Date: 2013-01-24Number of Pages: 100

Cloud Computing Market In Healthcare Industry (Service Models: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS); Pricing Models: Spot pricing or subscription model, and Pay-as-you-go model; End Use: Clinical Information systems (CIS) Market (EMR, PACS, RIS) and Non-clinical Information systems (NCIS) Market (RCM, Claims Management, APB)) - Global Industry Analysis, Size, Share, Trends and Forecast 2012 - 2018

Cloud Computing Market: Snapshot 

The global market for cloud computing in the healthcare industry is slated to amount to US$6.79 bn by 2018, registering a strong double-digit CAGR during the forecast period. The rapid pace of expansion in this market can be attributed to the rising need for healthcare organizations (HCOs) to provide more flexible and faster healthcare services to patients, to manage as well as fully optimize their IT systems, to comply with evolving regulatory norms, and ensure the security of confidential patient information. The emergence of cloud computing in the healthcare industry is designed to increase cost efficiency and productivity among HCOs and the growing digitalization within the sector has considerably supported the market. 

Private Cloud Computing Dominates overall Market; Public Clouds More Lucrative 

Cloud services are of three main types: platform-as-a-service (PaaS), infrastructure-as-a-service (IaaS), and software-as-a-service (SaaS). Owing to the fact that SaaS was introduced to users before the other two services, this segment holds a larger market share. 

By way of pricing model, the cloud computing market in the healthcare industry comprises pay-as-you-go model and spot pricing or subscription model. Currently, the spot pricing model accounts for a larger share in the overall market and is also projected to be the more attractive investment option among the two. 

Based on end user, the cloud computing market is bifurcated into clinical and non-clinical information systems. Although the market for non-clinical information systems (NCIS) is much larger than clinical information systems (CIS), the latter is projected to register a CAGR higher than the former by 2018. 

On the basis of cloud type, the market for cloud computing in the healthcare sector is segmented into private, public, and hybrid. Private clouds presently account for the dominant share owing to the need for secure storage of highly sensitive patient data. Public clouds will, however, expand at a much faster rate than the other two cloud types. 

North America takes the Lead as EMRs Gain Prominence 

The global market for cloud computing in the healthcare industry is geographically segmented into North America, Asia Pacific, Europe, and Rest of the World. North America is the regional leader in this market and is slated to account for a massive share of over 72.0% by 2018. The region is also likely to emerge as the most lucrative market by the end of the forecast period. One of the leading factors fueling this market is the large-scale adoption of electronic medical records, despite tight regulatory constraints. The U.S. healthcare market, on the whole, is characterized by technological innovation and a high level of research and development in the field. The country is also home to several prominent companies operating in the cloud computing market, which further drives its growth. 

Europe is also a prominent market for cloud computing in the healthcare industry. The growing need to implement cost-saving processes in the healthcare sector in the region and, at the same time, deliver quality care to patients, has resulted in the adoption of cloud computing across countries. 

The Asia Pacific cloud computing market is powered by developing economies such as China, India, and Japan, where the healthcare sector has been undergoing a technological transformation. The generation of massive amounts of data and an increasing number of hospitals going digital have also significantly contributed toward the growth of the Asia Pacific cloud computing market. 

ClearDATA Networks, Agfa Healthcare, Microsoft, IBM Corporation, Oracle Corporation, Merge Healthcare, and CareCloud are some of the leading players currently operating in the global market for cloud computing in the healthcare industry.

The emergence of wireless technologies and the rise in data sharing through accountable care organizations (ACOs) are some of the primary factors driving the demand for cloud computing in the global healthcare industry. In addition, the robust growth and transformation of healthcare IT is projected to contribute significantly towards the growth of the overall market in the next few years. 

The global cloud computing market in the healthcare industry has been classified on the basis of service models, pricing models, and end use. By service models, the market has been segmented into infrastructure-as-a-service, software-as-a-service, and platform-as-a-service. By pricing model, the market has been categorized into pay-as-you-go model and subscription or spot pricing model. Furthermore, the key end users of the global cloud computing market in healthcare industry comprise clinical information systems and non-clinical information systems market. 

The research study has used analytical tools in order to determine the primary growth prospects of the market and throws light on the lucrative opportunities. Additionally, the latest trends in the cloud computing market in the healthcare industry across the globe have also been highlighted in the research study. The growth drivers, limitations, product segmentation, and challenges in the market have been discussed at length in the research report. 

Overview of the Cloud Computing Market in Healthcare Industry 

As per the research report, the global market for cloud computing in the healthcare industry was valued at US$1.82 bn in 2011 and is projected to reach a value of US$6.79 bn by the end of 2018. The market is projected to register a remarkable 21.30% CAGR between 2012 and 2018. 

The security of access and data integrity and several other benefits offered by cloud computing are estimated to encourage the growth of the market in the next few years. However, data leakage concerns, data integration and consistency, and data relocation are some of the key factors estimated to restrain the growth of the global cloud computing market in the healthcare industry in the next few years. 

At present, the software-as-a-service segment leads the global cloud computing market in the healthcare industry. Nevertheless, the platform-as-a-service segment is estimated to witness substantial growth in the coming years. Furthermore, on the basis of end use, the non-clinical information systems market is projected to lead the global market in the near future. 

Among the key geographical segments, North America is estimated grow at a swift pace and account for a massive share in the global market for cloud computing in the healthcare industry in the next few years. The high growth of this region can be attributed to the presence of a large number of biopharmaceutical players. In addition, the rising focus on research and development activities is expected to contribute extensively towards the growth of the market. 

Companies Mentioned in the Research Report 

The global market for cloud computing in the healthcare industry is extremely fragmented in nature as no key players hold more than a share of 10% in the market at present. CareCloud, ClearDATA Networks, Oracle Corporation, Microsoft, Agfa Healthcare, IBM Corporation, and Merge Healthcare are some of the key players operating in the global cloud computing market in the healthcare industry. 

Key Segments of the Global Cloud Computing market in Healthcare Industry 

Global Cloud Computing market in Healthcare Industry, by service models 

  • Infrastructure-as-a-Service (IaaS)
  • Platform-as-a-Service (PaaS)
  • Software-as-a-Service (SaaS) 

Global Cloud Computing market in Healthcare Industry, by pricing models 

  • Spot pricing or subscription model
  • Pay-as-you-go model 

Global Cloud Computing market in Healthcare Industry, by end users 

  • Clinical Information systems (CIS) Market
    • EMR
    • PACS
    • RIS
    • Others
  • Non-clinical Information systems (NCIS) Market
    • RCM
    • Claims management
    • APB
    • Others 

Global Cloud Computing market in Healthcare Industry, by Geography 

  • Europe
  • North America
  • Asia Pacific
  • Rest of the World 

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years 

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments 


 
 
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