Why Should You Consider Entering the Healthcare Cloud Market?

The healthcare cloud computing market could present many growth opportunities for cloud services providers (CSPs) over the next few years, which is reflected in recent data from Research and Markets. 

This market research firm noted the United States accounted for the largest share of the North American healthcare cloud computing market in 2014. 

In addition, Research and Markets said the U.S. is expected to witness the highest growth rate in the North American healthcare cloud computing market.

“The market for healthcare cloud computing in the U.S. is expected to rise in insurance enrollments triggered by the Patient Protection and Affordable Care Act (March 2010), inadequate IT infrastructure among payers and conference, symposia and seminars conducted on cloud computing in the U.S.,” Research and Markets said in a prepared statement. 

Many healthcare providers are leveraging the cloud and other IT solutions to become more productive, according to Frost & Sullivan. 

The market research company recently noted many of the IT decision-makers in healthcare companies across the United States and Europe have moved the majority of their enterprise communications to the cloud as well.

Frost & Sullivan also pointed out the U.S. healthcare cloud market generated $903.1 million in revenue last year and expects the sector to top $3.5 billion in revenue by 2020.

“Government initiatives to optimize healthcare information exchanges have underlined the importance of synchronized real-time data management and personalized healthcare delivery, lending impetus to the healthcare cloud market in the U.S. and Europe,” Shruthi Parakkal, a senior healthcare research analyst at Frost & Sullivan, said in a prepared statement. “Operational efficiency, lower upfront costs, access to on-demand capacity, quick deployment and easier management of IT staff are the major advantages strengthening the case for managed healthcare services.”

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