integrated service offerings for healthcare is driving the Healthcare Cloud Computing Market
Technavio analyzes that the Healthcare Cloud Computing Market is expected to grow at a CAGR of 31.52% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 98.6 billion.There are various factors that contribute to the growth of the market. The healthcare cloud computing market encompasses a range of integrated service offerings designed to streamline and optimize healthcare operations. These solutions include data storage and management, telemedicine, electronic health records, and analytics. By leveraging cloud technology, healthcare providers can enhance patient care, improve efficiency, and reduce costs. The integration of these services enables seamless data exchange and accessibility, ultimately leading to better patient outcomes and improved operational workflows.
In the dynamic healthcare industry, Software-as-a-Service (SaaS) solutions have emerged as a preferred choice for organizations seeking to streamline their operations and reduce IT infrastructure costs. SaaS refers to the delivery of applications over the internet on a subscription basis, allowing healthcare providers to avoid the expenses associated with on-premises software solutions. Major players in the healthcare cloud computing market, such as Cerner and Amazon Web Services, offer a range of SaaS applications for various functions, including patient portals, clinical information systems, and big data applications. These solutions cater to both public sectors like Medicaid and Medicare, as well as the private segment. By adopting SaaS-based healthcare information systems, organizations can efficiently manage non-clinical information, such as customer relationship management (CRM), accounting, payroll, and supply chain management (SCM), while the service providers assume maintenance and support responsibilities.
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Healthcare Cloud Computing Market Segmentation
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The Healthcare Cloud Computing Market encompasses various components including Electronic Health Records (EHR), Telehealth, Internet of Things (IoT), Big Data Analytics, and Wearable Devices. Cloud deployment facilitates Data Storage and Scalability, enabling access to Non-clinical and Clinical Information Systems. Payment models, Patient Portals, and Big Data Applications enhance service delivery to Healthcare Providers. Personalized Medicines, Clinical Research, Drug Development, and Blockchain Technology are key applications. Data migration, Regulatory Compliance, and Wearable Medical Devices are also significant aspects of this market.
The Healthcare Cloud Computing Market is a significant segment of the larger Internet Services and Infrastructure Market. Key components of this market include Electronic Health Records (EHR) systems, Telehealth services, Internet of Things (IoT) devices, Big Data analytics, and Wearable devices. Cloud deployment models, such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS), facilitate data storage and scalability. Payment models, including subscription, pay-per-use, and usage-based, cater to various business needs. Companies offering IT services, including consulting, integration, application, and infrastructure services, as well as cloud computing services, dominate this market. Chronic disease management is a significant application area, leveraging IoT devices, telehealth, and big data analytics.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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