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Healthcare cloud market gets boost

Frost & Sullivan says new business models powered by cloud will transform healthcare.

Frost & Sullivan says new business models powered by cloud will transform healthcare.

The global market for healthcare cloud computing will be worth almost $10 billion by 2021, Frost & Sullivan predicts.

The market research and analysis firm released a global outlook report for the healthcare industry, and found revenue generated by cloud computing services will be primarily driven by the need to store the exponentially increasing volume of healthcare data.

According to Frost & Sullivan, the research analyses and assesses key growth opportunities, business models, challenges, drivers and industry-specific solutions being introduced using cloud platforms.

"One major industry game-changer will be real-world data. The volume of unstructured medical and health data that is generated outside of clinical settings is growing exponentially, while the need for such data sets is even direr among providers, pharmaceuticals, medical technology vendors, governments and university researchers," says digital health research manager Natasha Gulati.

"Growing awareness of the benefits of open platforms and increasing industry focus on interoperability and collaborative solution design are creating a huge demand for vertically integrated cloud platforms that open the data to multiple stakeholders who are willing to share the risks and the rewards of shared data assets," adds Gulati.

The firm also forecast that hospitals, physician practices, and other facets of the continuum of care will rapidly adopt cloud-based platforms to improve data and application access, enhance interoperability, and manage, store and archive a wide range of health data for the enterprise.

Applications that leverage de-identified patient information – collated from and analysed at multiple points of care – are an important growth opportunity, says Gulati.

"An increasing number of providers are opting to build versus buy when it comes to their organisational applications. In the past few years, there have been significant investments in internal apps that integrate with electronic health records, with the United States taking the lead in this area."


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