Global Microservices In Healthcare Market - Forecasts from 2024 to 2029

Global Microservices In Healthcare Market - Forecasts from 2024 to 2029

The global microservices in the healthcare market are projected to grow at a CAGR of 21.29% during the forecast period to reach US$1,014.192 million by 2029, up from US$262.674 million in 2022.

Microservices are a modern drift in healthcare IT that can grant various preferences to healthcare undertakings. Microservices can increment versatility, adaptability, and general effectiveness by breaking solid applications into smaller applications, more controllable services. Moreover, these administrations can encourage the advancement and arrangement of modern features and apps, as well as make a more secure and adaptable design. Various factors are pushing the utilization of microservices in healthcare.

Microservices in the healthcare industry are a sort of design that breaks down complex applications, and independent administration services, permitting for more prominent adaptability, versatility, and dexterity in creating, deploying, and maintaining healthcare applications. Key highlights of microservices incorporate seclusion, versatility, interoperability, agility, faster improvement, progressed maintenance, improved fault confinement, and innovative technological diversity. They advance in approach to software improvement, permitting developers to work on and send individual services without influencing the complete system.

Microservices can be assessed independently based on demand for particular services, empowering healthcare organizations to designate assets proficiently, it encourages interoperability between diverse healthcare applications and systems, encouraging consistent information trade and integration over different platforms and systems. Spry improvement practices empower healthcare organizations to reply rapidly to changing prerequisites and market demands, whereas maintenance accords more sensible with microservices. The adoption of microservices in the healthcare industry is majorly driven by the requirement for more spry, versatile, and interoperable healthcare IT arrangements.

Market Drivers:

Rising demand for automation in the healthcare industry would bolster market growth.

The growing need for automated processes in the healthcare sector, the increasing adoption for speeding up service deployment and the resourcefulness of microservices to resolve issues of complexity, the rapid adoption of inventive technology and an increase in overall productivity, and the increasing reliance on cloud-based offerings are some of the factors expected to drive the global microservices in the healthcare market.

Increasing investment by key market players in the development of new goods and raising awareness of the deployment of microservices is creating new chances for healthcare participants to expand microservices in the healthcare industry. The emergence of loT applications and a surge in microservice architecture deployment among healthcare organizations are expected to generate considerable prospects for healthcare microservices adoption.

Furthermore, an increase in investments by leading suppliers to build new applications and software, as well as an increase in awareness about the installation of microservices, is expected to open up new avenues for the growth of healthcare microservices adoption in the years ahead.

Increasing microservices and healthcare IT systems complexity is anticipated to boost the market growth

The growing complexity of healthcare IT systems makes managing monolithic applications more difficult. Furthermore, the demand for increased agility and flexibility is driving healthcare firms to implement more modular and scalable infrastructures. Finally, the rise of cloud computing is making dispersed application deployment and management easier.

Microservices are increasingly being used in the healthcare industry to improve care delivery. By separating multiple aspects of the healthcare system, microservices can assist with developing and deploying new care models that are more reactive to patients' requirements. The ability to swiftly update and deploy new services can assist healthcare organizations in remaining nimble in the face of rapidly changing conditions, such as the outbreak of a new illness.

Moreover, microservices can be utilized by healthcare organizations in sticking to regulatory requirements that involve the Health Insurance Portability and Accountability Act. HIPAA requires that patient health and well-being data be kept private. When microservices are utilized, each efficient service can have its security conventions to guarantee that only authorized clients have access to the information. Microservices give various preferences to healthcare businesses, constituting expanding scalability, adaptability, and security.

The North American region is anticipated to dominate a significant market share.

Within the healthcare industry of the USA, microservices are picking up ubiquity due to their potential to move forward interoperability, improve and upgrade patient care, and decrease costs for these services.

The market expansion is associated with diverse attributes, among the expanding demand for healthcare IT solutions, the requirement for interoperability between distinctive healthcare frameworks and applications, and the developing selection of cloud-based applications as a solution. In general, these companies are contributing to microservices innovation to progress healthcare results, improve interoperability, and decrease costs for healthcare organizations. This will encourage results within the healthcare market of the United States to rise exponentially.

Google Cloud has moreover been investing in the healthcare division, with a goal of utilizing microservices design to make strides in interoperability between diverse healthcare frameworks. In 2020, Google Cloud reported an association with the healthcare IT company Virtusa to create healthcare solutions utilizing microservices.

Key Developments:

July 2023- AWS HealthScribe is a generative AI-powered service that automates clinical documentation for healthcare software providers. It uses a single API to create robust transcripts and extract key details and summaries from doctor-patient discussions. This information can be entered into an electronic health record (EHR) system. Powered by Amazon Bedrock, it simplifies the integration of AI capabilities into applications, particularly in general medicine and orthopedics. This service reduces the time spent on compiling clinical documentation, allowing physicians to focus on patient discussions.
March 2022- Microsoft introduced Azure Health Data Services, a cloud-based platform that supports Protected Health Information (PHI) and enables both transactional and analytical workloads from the same data store. This innovative PaaS unifies diverse data types at the patient level, providing a real-time view of structured, unstructured, and imaging data. It uses a unified Fast Healthcare Interoperability Resources structure for quick data querying and deployment. Azure Health Data Services works with existing systems to improve processes and is built on open standards for new solutions and innovations.
March 2022- COPE Health Solutions presented a population health analytics and network management platform, integrating data from healthcare organizations with national Medicare and Medicaid benchmark datasets. The platform allows healthcare providers and payers to identify opportunities for quality improvement, cost reduction, product development, and market entry. Providers can access detailed data for all attributed Medicare members, while health plans can view data on their own members and Medicare fee-for-service information.

Market Segmentation:

Global Microservices In Healthcare Market is segmented and analyzed as below:

By Component
Platforms
Services
Consulting Services
Integration Services
By Delivery Model
On-premise Models
Cloud-based Models
Private Cloud
Public Cloud
Hybrid Cloud
By End-User
Healthcare Providers
Healthcare Payers
Life sciences Industry
Research Organizations
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
India
South Korea
Taiwan
Thailand
Indonesia
Japan
Others