Dublin, June 24, 2024 (GLOBE NEWSWIRE) -- The "Global Microservices In Healthcare Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global microservices in healthcare market is experiencing a significant upturn, with forecasts revealing a robust growth rate of 21.29% CAGR. This market is expected to reach US$1,014.192 million by 2029, a substantial increase from US$262.674 million in 2022.
Key features of microservices, such as increased modularity, scalability, and interoperability, contribute to this growth by offering enhanced agility and data exchange across platforms and systems within the healthcare industry.
The surge in the market is primarily attributed to the rising demand for automated and efficient healthcare processes. The integration of microservices streamlines the deployment of services and addresses the complexity of IT healthcare systems, fostering a significant increase in productivity and reliance on cloud-based offerings. Furthermore, investments in new applications and raised awareness regarding the potential of microservices are generating promising opportunities for expanded applications within the healthcare sector.
Healthcare IT Complexity and Cloud Computing
The increasing complexity of healthcare IT frameworks has been propelling the market forward, with a particular emphasis on the importance of adaptable, scalable infrastructures. The evolution of cloud computing further simplifies the deployment and management of distributed healthcare applications, highlighting the need for services that can rapidly adapt to evolving industry demands and regulatory requirements, such as HIPAA compliance.
Regional Market Insights
The North American region, and the USA in particular, is taking the lead in the adoption of microservices within healthcare. Factors propelling this trend include growing demands for improved healthcare IT solutions, advancements in interoperability, and the escalating adoption of cloud-based applications. These dynamics are expected to yield exponential growth in the market within the region.
Recent Industry Developments
Recent advancements within the space include the introduction of AWS HealthScribe, which leverages generative AI to automate clinical documentation, and the unveiling of Microsoft's Azure Health Data Services, a platform designed to unify transactional and analytical healthcare data workloads. Additionally, COPE Health Solutions has launched a population health analytics platform to assist healthcare providers and payers in enhancing care quality and operational efficiency.
Segmentation of the Market
The global microservices in healthcare market is scrutinized across multiple segments. These encompass cloud-based models, including private, public, and hybrid clouds, on-premise models, various components such as platforms and services, and end-users like healthcare providers, payers, and life sciences organizations. The geographical review assesses the market across North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions.
The steady growth and enhancements in the microservices in healthcare market reflect an industry keen on maximizing operational efficiency, improving client service deployment, and ensuring scalability and flexibility to adapt to the constantly evolving healthcare landscape. With a strong trajectory set for the coming years, the market is well-positioned to foster significant advancements in global healthcare IT infrastructure and services.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $262.67 Million |
| Forecasted Market Value (USD) by 2029 | $1014.19 Million |
| Compound Annual Growth Rate | 21.2% |
| Regions Covered | Global |
Companies Featured
- Amazon Web Services Inc.
- Capgemini SE
- Cognizant Technology Solutions Ltd.
- IBM
- Infosys
- Microsoft
- MuleSoft, Inc.
- Oracle Corporation
- Salesforce
- Syntel
- Tata Consultancy Services Limited
- IBM Corporation
For more information about this report visit https://www.researchandmarkets.com/r/vljd2f
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