Global Cloud In Healthcare Market Forecast 2014 – 2020 Occams Business Research & Consulting
Table of contents • Introduction • Cloud Healthcare Market Segmentation • By application • By Deployment Model • Healthcare IT as a Service and its Benefits • Market Determinants • Drivers of Cloud Healthcare Market • Restraints of Cloud Healthcare Market • Challenges of Cloud Healthcare Market • Opportunities of Cloud Healthcare Market • Cloud Healthcare Market – Sector Analysis • Market share Analysis • Key Strategies of Market Leaders • Geography Analysis • Market Estimation • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
INTRODUCTION Healthcare is one of the most dynamic application of cloud computing. Although healthcare organizations are highly concerned about the privacy and security of patient data, the pressure of controlling the increasing healthcare cost has driven the adoption of cost effective solutions such as cloud computing. There has been a surge of interest of the healthcare companies in adoption of cloud computing. Companies are leveraging cloud providers for it various benefits such as providing business agility, reducing cost, and so on. • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Cloud Healthcare Market Segmentation Clinical Applications-EHR- Laboratory Information System-Pharmacy Information System-PACS-Digital Pathology & Bioinformatics Cloud healthcare Market Exhaustive segmentation & estimations. Deployment Model -IaaS -PaaS -SaaS GeographyNorth America -USA -Canada Europe -UK -Spain -Germany -Italy -France APAC -China -Japan -India -Thailand Source: OBRC Analysis • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Percentage Penetration of Cloud based CIS Applications (2013-2020) 2020 2013 Source: OBRC Analysis • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Cloud Healthcare Market Segmentation By Service Model Business Process as a Service • Laboratory Analytics –Clinical Genomics for Diagnostics • Application & Data Integration • Marketing & Operations • Private Exchange Services • HR Recruitment & Management • Knowledge & Learning • Patient & Member Communities Software as a Service Healthcare Workloads Platform as a Service • High Performance Compute • Legacy Transaction Systems – Storage / Archiving • Development & Testing • Developer Services • Provision validated environments clinicians • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Infrastructure as a Service
Healthcare IT as a Service (HITaaS) will be in more demand Cost Comparison – Traditional v/s HITaaS in % • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Source: OBRC Analysis
Healthcare Goals To Be Accomplished By Cloud Computing Deliver Collaborative Care for Prevention and Wellness Cloud Computing by collaborative management of patient data through various departments helps in delivering effective patient care. Coordinated Work Achieve Better Quality And Outcomes Provides advance analytics of patient data thereby enabling more efficient diagnosis. Healthcare Goals Cloud Computing Enhance Quality Improve Operational Effectiveness Brings Flexibility in operations to support cost reduction and excels both clinical and business performance. Cost Benefits • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Source: OBRC Analysis
Benefits Of Cloud In Healthcare • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Source: OBRC Analysis
Market Determinants – Favorable Government Policies US HIPPA Act -1996 - The Health Insurance Portability and Accountability Act of 1996 (HIPAA) protects “individually identifiable health information,” creating powerful incentives for organizations to implement systems and processes to reduce risks. HITECH Act - The HITECH Act, enacted as part of the American Recovery and Reinvestment Act of 2009 promotes the adoption and meaningful use of health information technology. Patient Protection act - The Patient Protection and Affordable Care Act (PPACA) represents the most significant regulatory overhaul of the US healthcare system since the passage of Medicare and Medicaid in 1965. Europe The European Union has the Data Protection Directive (95/46) regulating the processing of personal data across 28 member states. It is an important part of EU privacy and human rights law (European Commission, 2013). • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Key Market Drivers • Rising IT Investments in Healthcare • Need to Store Big Data • Government Funding Supporting IT in Healthcare • Effective Data Sharing and interoperability • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Source: OBRC Analysis
Market Restraints • Security Risks - The risk of unauthorized access and loss of sensitive information are the basic reasons for creating doubt among users for using cloud services. • Legal Barriers - The data stored on cloud could be shared among various geographies and thus comes under multiple jurisdictions having different laws regarding data security, privacy, and usage. Many countries impose severe restrictions on the kind of data its citizens can leave their national territory with. • Ethical Issues - Hospitals are responsible for any medical data collected from patients. Usage of cloud computing business model is a threat to the privacy of such data, due to cases of medical data breaches from hospitals and people suffering the consequences of such data theft. • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Opportunities For Cloud Healthcare Market • Cloud companies see huge potential in healthcare cloud • Virtual Integration • Personalized Healthcare Gadgets • Insurers to Leverage Healthcare cloud for tracking client details • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Market Challenges • Data lock-in: Organizations that store their data on a cloud have serious trouble in shifting from one cloud provider to other. If the organizations want to migrate from one vendor to another or shift to in- house IT environment or if the vendor is ceasing services, then it becomes difficult for the organization to transfer the data as maximum vendors have very little capability on data, applications, and service interoperability. • Data transfer bottlenecks This often occurs in case of research laboratories that need to upload or download huge amount of data and due to improper network connections or the size of data, there is a considerable slowdown in the process. • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Sector Analysis IT investment pattern of Healthcare Organizations • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Source: OBRC Analysis
Market Share Analysis • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Step by Step Strategic Analysis of Market Participants 1. Innovation And New launches-Innovative new products and process making cloud services even better for healthcare industry2. Focusing on geographic expansion to provide better services to patients and practitioners3. New Product Launches specifically for the Healthcare Market 4. Partnerships and Collaborations to expand market and make the product available to the masses More Information Click: Cloud Market In Healthcare technologies, EHR Market, LIS Market, PACS, PIS, EMR, SaaS, PaaS, IaaS Bioinformatics, Hybrid cloud Market - Global Trends, Challenges, Demand, Opportunities & Forecasts 2014 – 2020 • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Geographic Analysis Global Healthcare Cloud Market by Geography in $ million (2013-2020) Source: OBRC Analysis • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD.
Market Estimation – Sample Tables Table: Cloud based Healthcare Application Market by Deployment Model in $billion (2013-2020) Table: Cloud based Healthcare Application Market by Deployment Model in $billion (2013-2020) • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Source: OBRC Analysis
Market Estimation contd… Table: Cloud Healthcare Market by Applications in $billion (2013-2020) • Table: Cloud Healthcare Market by Geography in $billion (2013-2020) • OCCAMS BUSINESS RESEARCH & CONSULTING PVT. LTD. Source: OBRC Analysis
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