Market Study Report adds global Healthcare Cloud Computing Market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.
Healthcare Cloud Computing Market will exceed USD 55 billion by 2025; as per a new research report. Clinical information systems segment is estimated to show over 15% CAGR by 2025. Rising demand for evaluating and maintaining raw data generated from physicians will further lead to segment growth. Increase in the demand for health information system that should positively impact the segmental growth. Public cloud segment will witness more than 15.5% CAGR over the forecast timeframe. North America healthcare cloud computing market will witness over 15% CAGR over the coming years. Growing technological advancements along with rising healthcare expenditures will foster regional growth.
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Software segment was valued around 4.5 billion in 2018 and should witness similar growth trend over the coming years. Advancement in technology and advantages associated with software upgradation drives segment growth. Advantages include reducing operational costs by robust auto-updating mechanism and helping healthcare providers to invest in best treatment decisions should boost business growth.
Hospitals segment was valued around 4 billion in 2018 and will grow significantly during the forecast timeframe. Digital transformation in hospitals through cloud computing will provide better health initiatives that will favor segment growth. Further, hospitals can begin to lay work for IoT technologies and improved data analytics for improved approach among the patients thus, should boost industry growth.
Increasing adoption of cloud computing software in laboratories and hospitals will drive healthcare cloud computing market growth over the coming years. Healthcare cloud computing software tracks patient specific health information for betterment of lives that should boost business growth. Every year numerous amount of administrative and clinical data is obtained from laboratories and hospitals that needs specific software for further health analysis. Thus, growing demand for healthcare cloud computing will further surge revenue size during the forecast timeline. Moreover, rising expense on cloud computing in hospitals should favor healthcare cloud computing industry growth.
Few of the prominent players have introduced specific software that results in easy access to patient data helping healthcare professionals to make corrective and definite actions. As the adoption rate of cloud computing software continues to escalate in diagnostic & imaging hospitals and ambulatory centers this will augment healthcare cloud computing business growth in foreseeable future. Increasing awareness regarding availability of technologically upgraded healthcare cloud computing software in developed and developing economies will boost business growth.
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Leading market players in the market:
Few market players in the healthcare cloud computing market include
o Carestream Health
o GNAX Health
o Merge Healthcare.
Major industry competitors adopt numerous strategic initiatives that include acquisitions and new product launch enabling them to sustain market competition. For instance, in September 2018, Carestream collaborated with Intel this collaboration has expanded the capabilities with advances that simplify radiology reading process while simultaneously optimizing quality of radiology reporting. In September 2018, Carestream is continuously adding new cloud-based data centers around the world with most recent one in 2018 in China thus, expanding companys geographic reach.
Global Healthcare IT Market 2020 by Company, Regions, Type and Application, Forecast to 2025
The global Healthcare IT market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 12.1% in the forecast period of 2020 to 2025 and will expected to reach USD 210560 million by 2025, from USD 133350 million in 2019.
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