Healthcare cloud computing market to be worth $5.4 billion by 2017

Ciol

The cloud computing market is to grow at a CAGR of 20.5 per cent from 2012 to 2017 in healthcare. A large number of healthcare operators are allocating funds for migration to cloud computing in the next five years.

The “Healthcare Cloud Computing (Clinical, EMR, SaaS, Private, Public, Hybrid) Market – Global Trends, Challenges, Opportunities & Forecasts (2012 – 2017)”, by Marketsandmarkets analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and the rest of the world.

Cloud computing is estimated to serve as a boon to the healthcare industry and the market is witnessing an increased adoption of this technology. In 2011, the penetration of cloud in healthcare was approximately 4 per cent.

Cloud technology has been adopted only in certain regions of the world, the majority share being held by the developed nations. North America accounts for the lion’s share in the cloud computing market with U.S. being the largest contributor to this region.

Although cloud computing offers significant advantages to healthcare operators and other stakeholders, it has set of restraints. Security of patient information, interoperability and compliance with government regulations are some of the factors which are slowing down this market.

The healthcare industry has been slow to adopt public clouds due to its highly regulated nature where as the private and hybrid cloud models have a higher affinity.

The Market is fragmented one with no player occupying a share more than 5 per cent. Few players are CareCloud (U.S.), Carestream Health, Inc. (U.S.), Merge Healthcare, Inc. (U.S.), GE Healthcare (U.K.), and Agfa Healthcare (Belgium).

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