A recently released report from ‘Esticast Research and Consulting’ reveals that global healthcare cloud computing market will touch $25.7 billion by 2024.
In 2016, the cloud healthcare market was valued at just $4.9 billion, where infrastructure as a service (IaaS) model segment generated the highest market share. It is supposed to grow at a CAGR of 23.4% during the forecast period 2016 to 2024, as per the report “Healthcare Cloud Computing Market Estimation and forecast 2016-2024”.
Picture archiving and communication system (PACS), the digital imaging communication tool, has transformed how cloud computing works in healthcare. It accounted for 3/7th of the market share in 2016, and is predicted to grow at a CAGR of 29.8%.
“Cheap and easy to use technology is continuing to push the envelope in terms of the options available to the patients, not just those who struggle to get to their medical facilities or hospitals. Self-monitoring devices and receiving ‘virtual’ care will continue to increase through 2017 and beyond. It becomes easier for the patients to monitor their own vital signs and report the information without having to make an appointment with a medical care provider.
Post-hospitalization, patients can check in and upload their information, and connect with the medical staff. Doctors can video conference with the patient or with other members of their team to monitor and consult critical cases. Telemedicine also helps to lower readmissions to the hospital, providing aid with Medicare reimbursement.”– ERC
Cloud healthcare solutions build a collaboration among doctors, healthcare providers, patients and peers. They open many opportunities for the healthcare industry, and benefit the patients with a treatment that is cost-optimized and more effective.
The cloud healthcare technology is not only beneficial for patients, it is also helping hospitals, clinics and insurance firms in enhancing their computational facilities at a lower cost.
North America generated around $3.4 billion in 2016, thereby, holding the highest revenue share in cloud healthcare market. It is expected to lead the cloud healthcare market during forecast period by growing at a CAGR of 25.6%. The reasons behind North America’s dominance are the advanced healthcare infrastructure and various prominent healthcare companies operating in the US.
Second to North America, the Asia-Pacific region is also showing some notable growth in cloud healthcare market with an increased number of digital hospitals.
CareCloud, ClearDATA Networks, Oracle, Microsoft, Agfa Healthcare, IBM, Cisco, Intel, Carestream Health, and Merge Healthcare, are the top cloud vendors for healthcare in the market.
For full report, visit- https://www.esticastresearch.com/market-reports/healthcare-cloud-computing-market
Image source- Esticast Research and Consulting