Microservices In Healthcare Market Is Witnessing Significant Growth, Fueled by Digital Transformation and Focus on Patient-Centric Care

AUSTIN, TEXAS, UNITED STATES, February 20, 2024 /EINPresswire.com/ -- The report provides a comprehensive analysis of the microservices in healthcare market, detailing its current size and anticipated growth. Valued at USD 274.08 million in 2022, Global Microservices In Healthcare Market is expected to reach USD 1310 million by 2030, growing at a compound annual growth rate (CAGR) of 21.6% over the forecast period from 2023 to 2030. The report explores key factors driving this growth, such as increasing adoption of digital transformation in healthcare, rising demand for interoperable and scalable IT solutions, and advancements in microservices architecture. Additionally, it delves into market trends, including the development of cloud-native applications, adoption of DevOps practices in healthcare IT, and regulatory landscape. By offering insights into market size, growth projections, and key trends, the report aims to assist stakeholders in understanding the dynamics of the microservices in healthcare market and making informed decisions to capitalize on growth opportunities.

Microservices architecture represents a modern approach to software development, characterized by the decomposition of large, monolithic applications into smaller, loosely coupled services that can be independently developed, deployed, and scaled. In the healthcare industry, microservices offer a flexible and modular framework for building interoperable, distributed, and resilient healthcare systems that can adapt to changing patient needs, evolving regulatory requirements, and emerging technologies.

Major Key Players in the Microservices in Healthcare Market:

• Amazon Web Services Inc. (AWS)
• CA Technologies (now part of Broadcom Inc.)
• IBM Corporation
• Microsoft Corporation
• Software AG
• NGINX Inc. (now part of F5 Networks)
• Oracle Corporation
• Pivotal Software, Inc. (now part of VMware)
• Salesforce.com
• Infosys Limited
• Syntel, Inc. (now part of Atos)

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Microservices in Healthcare Market Growth Drivers

The Microservices in Healthcare market is experiencing significant growth primarily driven by increasing demand for advanced data analytics tools in the healthcare sector. One of the key drivers propelling this growth is the need for improved operational efficiency and cost reduction within healthcare organizations. BI solutions offer valuable insights into patient care management, revenue cycle optimization, and resource allocation, enabling healthcare providers to make data-driven decisions that improve overall performance and outcomes. Additionally, growing emphasis on personalized medicine, regulatory compliance requirements, and rising adoption of electronic health records further fuel the demand for BI solutions in the healthcare industry. As technological advancements continue to evolve amidst a rapidly changing landscape, organizations are increasingly turning to BI tools to leverage big data analytics and predictive modeling capabilities in order to streamline operations, enhance patient care quality, and drive sustainable growth.

Microservices in Healthcare Market Opportunities

The Microservices in Healthcare market is experiencing exponential growth due to the increasing demand for data-driven decision-making in the healthcare industry. With the rise of electronic health records and digital patient information, healthcare providers are facing a deluge of data that needs to be efficiently managed and analyzed to improve operational efficiency and patient outcomes. As a result, there is a growing need for BI solutions that can provide insights into key performance metrics such as revenue cycle management, clinical analytics, population health management, and regulatory compliance. This presents significant opportunities for vendors offering BI tools tailored to the unique needs of healthcare organizations. By leveraging advanced analytics, machine learning, and predictive modeling capabilities, healthcare providers can gain valuable insights that drive strategic decision-making and ultimately improve the quality of care delivered to patients. In order to stay competitive in this rapidly evolving landscape, it is essential for healthcare organizations to invest in innovative BI solutions that enable them to harness the power of their data effectively.

Microservices in Healthcare Market Segmentation

By Component
• Platforms
• Services
• Consulting Services
• Integration Services
• Services

By Delivery Model
• On-premise Models
• Cloud-based Models
-Private Cloud
-Public Cloud
-Hybrid Cloud

By End-user
• Healthcare Providers
• Healthcare Payers
• Lifesciences Industry
• Research Organizations

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Key Regional Development

The microservices market in the North American healthcare sector is expected to grow substantially during the forecast period, due to a growing trend for automation of services across different sectors and easy adoption of technologically advanced solutions that will improve health care systems in this region.
In view of the strong demand for advanced solutions to manage a broad range of services, as well as increased awareness about their benefits in terms of business development within this region, microservices are expanding at an impressive rate on the Asia Pacific health care market.

Key Takeaway from Microservices in Healthcare Market Study

• The growing adoption of IT solutions in healthcare, microservices are expected to have strong growth over the next few years.
• Innovation solutions for improving patient care and operating efficiency are expected to result from the integration of Artificial Intelligence and Machine Learning with microservices.
• The adoption of microservices architecture is also anticipated to be driven by the growing demand for remote patient monitoring solutions.

Recent Development Related to Microservices in Healthcare Market
• In December 2023, to increase accuracy and decrease delays, Amazon Rekognition has released version 7 of Face APIs.
• In December 2023, The Strategic Cybersecurity Partnership has been expanded by IBM Consulting and Palo Alto Networks.

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Akash Anand
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