The global healthcare cloud computing market is anticipated to be valued at US$ 14.5 Bn by the end of 2021, and is expected to expand at a stupendous CAGR of 24% over the next 10 years, to reach an estimated value of US$ 90.5 Bn.
Persistence Market Research has conducted a detailed research on the healthcare cloud computing market, and has predicted the market to surge at a stellar CAGR of 24% through. The market is expected to surge 6X over the next ten years and top a valuation of US$ 90 Bn in 2031. The market in South Korea is expected to surge at a phenomenal CAGR of 34% over the decade.
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FACTS AT A GLANCE
Companies: Microsoft Corporation.,ORACLE CORPORATION.,International Business Machines Corporation.,Dell Inc.,CareCloud Corporation.,Agfa-Gevaert N.V.,Merge Healthcare Incorporated.,Other
Coverage: All major geographies and key segments
Segments: Type(Electronic Medical Records (EMR) System,Picture Archiving and Communication System (PACS),Pharmacy Information System (PIS),Radiology Information System (RIS),Laboratory Information System (LIS),Computerized Physician Order Entry (CPOE) System); Applications(Non-clinical Information System (NCIS),Clinical Information System (CIS))
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Improvement of healthcare infrastructure invites the implementation of cloud computing as an effective data transportation and storage facility is bound to transform the sluggish pace at which clerical activities in medical organizations take place.
A database that tracks a patients previous health records, denotes it to any concerned hospital and updates with the current health and medicine conditions sounds benefitting for several medical professionals and pharmacologists.
In 2021, the global healthcare cloud computing market is anticipated to be valued at approximately US$ 14.5 Bn. Enduring an astronomical projected CAGR of 24%, the global market for healthcare cloud computing is slated to attain a market value of US$ 90.5 Bn by the end of 2031.
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Key Market Dynamics
The growth of global healthcare cloud computing market is influenced by dozens of benefits derived from using cloud computing in healthcare activities. Speeding up the data or document processing in healthcare facilities is a key factor prompting the use of cloud computing.
The global healthcare cloud computing market is expected to reap unlimited cost-savings from upgrading their conventional information & data systems with cloud computing services that can share crucial and important information of patients and their medications among healthcare professionals and pharmacists.
Turning over confidential data, however, is a risky move as the world has witnessed the jinx of cloud computing when several personal information and data of public figures had gotten leaked in the recent years. Additionally, handing over such data to a third party draws skepticism and anxiety among patients.
Error limitations and inefficient disaster backup are also key restraints curbing the use of cloud computing in the healthcare industry. Furthermore, incorporating with a tech company might hamper the existence of the medical organization if the former loses its operational and financial stability or even worse, goes bankrupt.
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