(EMAILWIRE.COM, January 31, 2019 ) The key factors driving the growth of Healthcare Cloud Computing Market include increasing adoption of big data, wearable devices, and IoT in healthcare; advantages of cloud usage (such as improved storage, flexibility, and scalability of data); implementation of healthcare reforms such as the Patient Protection and Affordable Care Act; and the dynamic nature of health benefit plan design.

Increasing Adoption of Big Data Analytics, Wearable Devices, and Iot in Healthcare

Healthcare providers generate and collect a large amount of data from a vast array of internal sources, such as electronic health records (EHRs), radiology images, pharmacy sales, prescription information, lab tests, and insurance claims data. The volume of this digital data is growing exponentially every year majorly due to the changes in the payer environment, such as incentives for the meaningful use of EHRs and a shift towards value-based payments.

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Moreover, technological changes are also resulting in the generation of a larger volume of healthcare data. For instance, patients are increasingly employing mobile digital devices, including activity monitors and chronic disease monitoring products (such as blood glucose trackers for diabetes). Similarly, the growing use of Internet of Things (IoT) applications is further increasing the data-storage and data-analytics needs of healthcare providers.

Better Storage, Flexibility, and Scalability of Data Offered By Cloud Computing

Hospitals are realizing the benefits of storing data off-site as it saves space (which can be utilized for accommodating more patients). Moreover, this approach does not require hospitals to maintain an in-house IT staff since the maintenance of data is generally outsourced to hosting vendors.

Through cloud computing, healthcare organizations can almost instantaneously scale up or scale down their IT infrastructure (which includes processing power, storage, networking, and the number of users) and adjust it with consumption. This avoids costly upgrades, reduces waiting times, and eliminates capacity constraints. Owing to this on-demand scalability, healthcare organizations do not need to plan for future IT infrastructure needs. As a result of these functionalities, the demand for cloud computing is increasing among healthcare organizations.

North America to dominate the market in 2018

In 2018, North America held the largest share of the healthcare cloud computing market, followed by Europe. Factors such as the increasing adoption of EHRs among medical professionals and active participation by private sector players in the development of the healthcare industry in that region are contributing to the dominant share of this region.

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Some of the players in the global healthcare cloud computing market are CareCloud Corporation (US), ClearData Networks Inc. (US), Athenahealth (US), Cerner Corporation (US), Epic Systems Corporation (US), NextGen Healthcare (US), Carestream Corporation (Canada), Dell Inc. (US), DICOM Grid Inc. (US), INFINITT Healthcare (South Korea), Sectra AB (Sweden), Merge Healthcare Inc. (US), Siemens Healthineers (Germany), iTelagen Inc. (US), NTT DATA Corporation (Japan), Nuance Communications (US), and Ambra Health (US).

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