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Growth Seen in the Healthcare Cloud Tech Market

by: Sarah Joson

Wednesday, October 28, 2015 |

A new report created by MarketsandMarkets, a market research reports and custom research services company, revealed that the healthcare cloud technology market could grow by 2020. The report projects that the healthcare cloud computing market will reach $9.48 billion in 2020 - from $3.73 billion in 2015. By 2017, it is expected that nearly 20% of the healthcare industry will be using some type of cloud technology.

Factors that are seen to propel growth in the segment are healthcare reforms, technology integration in healthcare, and creation of new payment models.

Healthcare DIVE, which published highlights of the MarketsandMarkets’ report, said innovations have been identified in the healthcare industry as it continues to accept cloud computing. They even cited that Google, Amazon, and other companies have HIPAA-compliant servers and agreements.

Meanwhile, experts aired their opinions on the matter. Missy Krasner, Managing Director for healthcare and life sciences at cloud storage and collaboration firm Box, said the move towards cloud technology is not just about the growing need for data storage, and is more of having the ability to operate from different hubs, easier and secure payment options, accessibility, and data security.   

Another expert, Egor Kobelev, Software Delivery Manager at DataArt, said most hospitals will outsource some parts to the cloud while retaining important functions in-house.

However, Mounil Patel, Vice-president of strategic field engagement at Mimecast, said while the cloud has lots of benefits, organizations should be prepared to mitigate any risk that comes with it.


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