Healthcare cloud computing market set to be worth $5.4 billion

Press Release   •   Jul 04, 2012 10:34 BST

In 2011, infiltration within the healthcare cloud computing market was approximately 4% and the market was valued at $1.7 billion. A large number of healthcare organisations are allocating funds for migration to cloud computing in the next five years and by 2017 the market is set to be worth $5.4 billion, growing at a compound annual growth rate (CAGR) of 20%.

The healthcare cloud computing market is a fragmented one with no player occupying a share of more than 5%. Healthcare cloud computing market leaders include, CareCloud (US), a company with the mission to create a digital ecosystem by leveraging cutting-edge technology to connect a disjointed healthcare industry and to improve the healthcare experience. Carestream Health, Inc. (US), a worldwide provider of dental and medical imaging systems and healthcare IT solutions and GE Healthcare (UK), a service provider of medical imaging and information technologies.

Cloud computing offers significant benefits to the healthcare sector; Doctor's clinics, hospitals, and health clinics require quick access to computing and large storage facilities which are not provided in the traditional settings, moreover healthcare data needs to be shared across various settings and geographies which further burdens the healthcare provider and the patient causing significant delay in treatment and loss of time.

Cloud technology has been adopted only in certain regions of the world, with the majority share being held by the developed nations. North America accounts for the lion's share in the healthcare cloud computing market with the US being the largest contributor to this region.

For more information on the healthcare cloud computing market, see the latest research: Healthcare Cloud Computing Market Report

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