Pune, India, July 2019, MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on the Global Health Cloud Market.
The Affordable Care Act and reimbursement policies initiated by government across various countries have created mandates and incentives for healthcare providers, payers, medical device and pharmaceutical companies to focus on patient care and satisfaction, as well as the patient’s expectations for information, interaction and access, have grown considerably. This has increased the demand for health cloud platform across the healthcare sector for a smarter patient management system.
The prominent players in the market of health cloud are IBM Corporation (US), Amazon Web Services, Inc. (US), Microsoft Corporation (US), Oracle Corporation (US), Salesforce.com Inc. (US), General Electric Company (US), Cisco Systems, Inc. (US), Siemens AG (Germany), and ClearData Networks Inc. (US).
Others players include Cerner Corporation (US), Carecloud Corporation (US), PLEXIS Healthcare Systems (US), Carestream Health (US), Sectra AB (Sweden), Athenahealth, Inc. (US), and Eclinicalworks, LLC (US).
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According to Market Research Future, the global health cloud market has been segmented on the basis of component, deployment, service model, pricing, application, end user, and region.
By component, the market has been segmented into software and services. The services segment has been further segmented into consulting, implementation and maintenance, and training. The software segment is expected to dominate as well as register the highest CAGR.
Based on the deployment, the market has been segmented into private, public, and hybrid cloud. The hybrid cloud segment is expected to register the highest CAGR during the forecast period.
By service model, the market has been segmented into IaaS, PaaS, and SaaS. The SaaS segment is expected to lead the market.
By application, the market has been segmented into clinical data management, analytics & assessments, data storage, care management, others. The reporting and analytics segment is expected to exhibit the highest CAGR.
By end user, the market has been segmented into hospitals, diagnostic and imaging centers, pharmacies, ambulatory centers, and others. The hospital segment is expected to lead the market as well as register the highest CAGR during the forecast period.
The global health cloud market is projected to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis for global health cloud market has been conducted for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America is expected to emerge as the leading region for global health cloud market during the forecast period. The region has been segmented, by country, into the US, Canada, and Mexico. Presence of leading health cloud solution providers planning on investing in developing their solutions with advanced capabilities to cater to a wide application area is driving the growth of health cloud market in North America. Well-established infrastructure and early adoption of advanced technologies such as IoT and big data analytics to analyze the patient and organization data are further propelling market growth. However, government regulations, such as HIPPA, are expected to hamper the market growth up to some extent.
Europe is following North America in the global health cloud market in terms of market share. Europe is experiencing an increasing adoption of health cloud solution owing to the growing utilization of cloud health platform for smart patient management, storage of patient data, and reporting and analytics. Furthermore, a high focus of European government on increasing awareness and adoption of IoT technologies and initiatives taken to develop a code of practices for IoT security is expected to have a positive impact on the health cloud market in the Europe. However, data privacy and security concerns are expected to limit market growth. The region has been segmented, by country, into the UK, Germany, France, Italy, Spain, Benelux, and the rest of Europe.
Asia-Pacific is expected to register the highest CAGR during the forecast period. There is an increasing adoption of advanced technologies, such as wearable devices, IoT, and cloud platform, across the healthcare sector to provide personalized patient experience and enhance the patient care systems in the region. Furthermore, initiatives by the various governments in the region to adopt digitalization, and the growing adoption of the cloud platform to effectively handle the massive amount of data generated are some of the factors driving the demand for health cloud platform across the healthcare sector. The region has been segmented, by country, into China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific.