Cloud technology is the computing method for proving services and data on internet through different web-based tools instead of a direct connection with the server. These data and software are stored on server, which is easily accessible. The technology makes it very easy to access and use all the patient records including medical images. Technologies such as mobile devices, video conferencing, and cloud speeds things up and allows better communication for the applications built specifically for services in health care organizations.
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Cloud technologies in healthcare market are in emerging state as they provides high quality and high efficiency for storing the healthcare data Electronic records, streamlined collaboration, saving on data storage, accessing high powered analytics, easy data sharing, and capability of telemedicine are the advantages of using cloud technologies. However, pitfalls such as unavailability of data due to an internet connectivity or bandwidth issue with the internet introduces a risk for healthcare data, and redundancy at the data center level, hinders the market growth.
The global cloud technologies in healthcare market is segmented based on application, service model, deployment mode, pricing model, component, end user, and geography. Based on application, the market is categorized into clinical information systems and nonclinical information systems. Clinical information systems are further sub-segmented into Electronic Medical Records (EMR), Pharmacy Information System (PIS), Radiology Information System (RIS), Picture Archiving and Communication System (PACS), Computerized Physician Order Entry (CPOE), Laboratory Information System (LIS), Pharmacy Information System (PIS), and others. Nonclinical information systems are further sub-divided into Revenue Cycle Management (RCM), payroll management systems, Automatic Patient Billing (APB), cost accounting, claims management, and others. Based on service model, the market is segmented into software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS). Based on deployment mode, the market is classified into private, public, and hybrid cloud. Based on pricing model, it is bifurcated into pay-as-you-go, and spot pricing. Based on component, the market is segmented into hardware, software, and services. Based on end user, it is categorized into health care providers and health care payers. It is studied across North America, Europe, Asia-Pacific, and LAMEA.
The market registered substantial growth in the recent years, owing to the various strategies adopted by the leading market players. The key strategies adopted are product launch, collaboration & merger, and acquisition. Athenahealth, Inc., acquired RazorInsights, a leader in cloud-based electronic health record, in January, 2015. Athenahealth and RazorInsights, the combined organization, introduced new cloud-based services for rural, critical access and community hospitals creating a high growth in cloud technologies in healthcare market.
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Comprehensive competitive analysis and profiles of major market players such as Athenahealth, Inc., CareCloud Corporation, VMware, Inc., Merge Healthcare, Inc., IBM Coeporation, ClearData Networks, Inc., Carestream Health, Lexmark International, Inc., NTT Data Corp., and Iron Mountain, Inc. is also provided in this report.
Key Market Benefits:
- The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the investment pockets.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- The report provides a quantitative analysis from 2016 to 2023, which enables stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of different segments facilitates to understand the various products of the market.
- Key players are profiled in this report and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.
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