Research and Markets has announced the addition of the "North American Healthcare Cloud Computing Market by Applications, Deployment, Service, Pricing & End Users - Forecast to 2018" report to their offering.
The significance of cloud computing is expected to increase in the healthcare industry. The healthcare industry is facing increasing pressure to lower the costs associated with providing healthcare; adopt new systems that support electronic medical records (EMR); and share data in a quick and secure manner with other healthcare providers and government agencies. The need to reduce costs in the healthcare industry ecosystem is a key factor that is increasing the adoption of cloud computing.
Moreover, cloud computing can help healthcare organizations to share information stored across disparate information systems in real time and enable the IT staff to attend to more critical tasks, which results in an increase in productivity and cost-efficiency. The cloud-based Clinical Information Systems softwares market is the fastest growing segment in the North American Healthcare cloud computing market, by application. The rapid growth of this market can be attributed to factors such as federal pressure to convert all paper-based records into digital forms, increasing healthcare costs, and increased awareness about the benefits of cloud computing.
However, information such patient records, medical imaging data, and prescription records are to be kept confidential. Thus, the security concern over the transfer of such information on cloud is hindering the adoption of cloud computing in the healthcare sector. In the CIS market, the EMR market is expected to grow at the highest CAGR. The high growth of this segment is attributed to the implementation of the HITECH Act, which has outlined the plans for the adoption of electronic health records.
The North American healthcare cloud computing market has witnessed the highest deployment of applications on private clouds. A private cloud provides a dedicate network and infrastructure which is exclusive to one client. This increases the security of data being transferred on the cloud, which is the prime requirement in the healthcare industry.
The SaaS application accounted for the largest share of the North American healthcare cloud computing market, by services. However, the market for IaaS is growing at a higher rate, owing to the increasing need to fill the gap between existing and required infrastructure without incurring significant expenses.
The cloud computing market is highly fragmented, with none of the players accounting for a significant share of the market. The companies in this market focus on growth strategies such as client acquisitions; agreements, partnerships, collaborations, and alliances; new product launches; acquisitions; and others (fund raising, event participation, marketing and promotion, expansion, and educational promotion) to increase their customer base.