News Feature | April 17, 2015

2015 Healthcare Cloud Computing Forecast: Growth Leads To Need For Storage

By Megan Williams, contributing writer

2015 Healthcare Cloud Computing Forecast: Growth Leads To Need For Storage

Research And Markets has announced its 2015 look at the global healthcare cloud computing market, Global Healthcare Cloud Computing Market 2015-2019.

Market Growth

According to PR Newswire, the market is expected to grow at a CAGR of 21.95 percent between 2014 and 2019, mostly driven by industry-wide increased adoption of IT. The market still faces challenges (such as high implementation costs and lack of skilled workers), but a significant jump in adoption is still expected. This growth has also led to a need for storage devices to house the data that’s being generated across the industry. Cloud solutions are recognized as an effective method for reducing costs in IT.

Additionally according to the report, payers and research departments have also been driven to seek out more economic solutions. Moving to cloud solutions is a reliable path for physicians and hospitals looking to begin IT investment without the worry of cost and maintenance. Cloud solutions also address the myriad security issues that are becoming an increasing burden on the industry.

Key Players

Research and Markets identifies key players in the market, including Merge Healthcare, Agfa HealthCare, Cisco Systems Inc., CareCloud Corp, Carestream Health Inc., Cleardata Networks, GE Healthacre Inc., and Dell Inc.

Additional prominent vendors include Epic Systems, GNAX Health, Siemens, UnitedHealth Group, Verizon, Netapp, IBM, Iron Mountain, MEDITECH, Microsoft, EMC, and athenahealth.

New Entrants

Additional signs of growth in the cloud sector include increased investment.

A Madison WI-based provider of cloud hosting in the healthcare sector, Catalyze, has received $4M in investor capital to grow its healthcare offerings. It received the first $2 million through Gener8tor’s Milwaukee accelerator program in 2013, and raised an additional $2 million three months later. That Series A round was led by Baird Capital’s venture capital group, Chicago Ventures, and Arthur Ventures of Fargo, ND.

Catalyze’s suite of products include an API for healthcare apps, specifically those that work with Apple’s HealthKit and Google Fit. They service software companies of a range of sizes, as well as healthcare providers and insurers.

Going Deeper

To read more about cloud computing and introducing your clients to all the benefits it has to offer, read “The Cloud: Taking Healthcare Clients To The Next Level”. You can also access a report on advanced cloud topics here.