Healthcare Cloud Computing Market Dynamics
- Going by the deployment model, the healthcare cloud computing market can be classified into public cloud, private cloud, and hybrid cloud. While the public cloud deployment model is fast growing and is advantageous due to its scalability, the private cloud model is more advantageous than the former for the direct control over the cloud contents it gives to the health IT department while enabling organizations to protect health information and patient data closely. A hybrid model is a combination of the best of both worlds.
- The classification based on the service model is Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Service (PaaS), of which the SaaS segment made up the largest market share in 2021. The reason is that there are limited upfront capital expenses linked to this model, along with enhanced security features.
- The two segments of the healthcare cloud computing market, when classified based on the products, are the healthcare provider solutions which consist of the clinical information system and non-clinical information system, and the healthcare payer solutions. The COVID-19 pandemic led to the adoption of various healthcare technology solutions when there was a rising need for remote patient care. This scenario caused the healthcare provider solutions segment to hold a greater market share.
- Among the locations in the purview of the healthcare cloud computing market, North America takes the largest share globally due to its technological advancements and EHR incentive programs by several healthcare providers.
Restraints in the market:
It is a wise idea to opt for professional cloud solutions and service providers to avail of the cloud technologies in the digital upgradation of your business.
Applicability Of Cloud Computing In The Healthcare Industry
- Cloud technology helps maintain patients’ electronic medical records (EMRs) for quicker access to physicians and nurses. It is a streamlined way of maintaining data, which ensures better data protection than paper records of the past. For instance, a relocated patient may visit different hospitals for the same illness. In this case, cloud-based EMRs can help the hospital staff gain access to the patient’s information at different facilities through the stored electronic health records.
- The digital health information stored in the cloud infrastructure greatly helps in research methodology wherein medical researchers would require to analyze large sets of data.
- Healthcare cloud computing solutions help to run critical applications that extract crucial patient information from huge chunks of unstructured data through machine learning capabilities that involve natural language processing. This automation also helps to reduce the problem of staffing shortages in the healthcare industry.
- They offer an enriched patient experience by making remote patient care possible, as witnessed during the recent pandemic.
- It reduces the potential risk of data loss.
- It is cost-effective.