Global Cloud Security in Healthcare Market - Segmented by Type of Power Source, Product, and Application - Growth, Trends, and Forecasts (2020 - 2025)

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The global cloud security in healthcare market is expected to register a CAGR of approximately 18.2% during the forecast period (2018-2023). North America dominates the market, due to the favorable regulatory framework by the government and technological developments in that region.

Cloud computing is one of the major shifts from the traditional way of doing business to using IT resources. Cloud computing security or cloud security is a fast-growing service in IT that includes protecting critical information from theft, data leakage, and deletion. Cloud security is increasingly being adopted in healthcare, in order to reduce healthcare cost pressures, while maintaining the quality of care. In the coming decade, the economic benefits from this market would play a vital role in the operational and functional perspectives of healthcare.

Rise in the Adoption of Cloud-based Clinical Applications

There are significant economic benefits that cloud computing can provide, like cost flexibility and potential for reduced costs. There has been a significant rise in digitization of medical records, including adoption of electronic medical records, electronic health records, and personal health records. Apart from that, there is increasing digital output from medical imaging devices, such as CT/MRI scanners, bedside monitoring devices, and infusers, which provide high volume of varied data. There is high need for IT in healthcare to reduce costs, provide point-of-care access to medical data, and medical applications in mobile devices for both patients and medical staffs. This increases the use of cloud solutions in healthcare, thereby driving the market.

Other factors, such as the need for increasing the volume and scalability of healthcare data, rise in new payment models, and rising awareness of benefits of open platforms, drive the cloud security in healthcare market.

Privacy Concerns related to Patient Information

Privacy and security of patient health data, along with ensuring the availability of the correct information and timely synchronization of data, remain a significant set of concerns with devices like electronic health records. The confidentiality of patient information between the concerned endpoints is of prime importance to provide secure data management. The concerns further extend toward sharing physical devices and virtualized resources, with a trust chain among providers and payers being highly useful. Other factors, such as issues related to interoperability and standardization of cloud, restrict the market.

Public Cloud Model of Deployment to Dominate the Market

The global cloud security in healthcare market is segmented by application, deployment, distribution model, component, end user, and geography. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

Among deployment models, the public cloud is expected to dominate the market, with approximately 65% of market share. It provides greater performance in terms of quick access and analytics, when compared to other models. The developed markets have favorable regulatory framework by the governments, data protection policies, and guidelines, which are still improving in the emerging markets, due to its higher costs and IT resources.

Major key players: Athenahealth Inc., Carecloud Corporation, Carestream Health Inc., Dell Inc., Cleardata Networks Inc., IBM Corporation, Iron Mountain Inc., Merge Healthcare Inc., Cisco Systems Inc., and Symantec Corporation, among others.

Reasons to Purchase the Report

  • Market analysis for the global cloud security in healthcare Market, with region-specific assessments and competition analysis on a global and regional scale
  • Analyzing various perspectives on the industry with the help of Porter’s five forces analysis
  • The treatment type that is expected to dominate the market
  • The regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • Three-month analyst support, along with the Market Estimate sheet in Excel.

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