Cloud Computing Market in Healthcare Research and Development - Global Analysis and Industry Forecast 2014 – 2020

In general terms, cloud computing may be defined as an internet based computing where storing, access to data and programs are achieved through internet instead of computer’s hard drive. Cloud computing eliminates the need of local server or personal system for data sharing and other computing resources. One of the major advantages of cloud computing is that it globalizes the workforce at low expenses. People across the globe can have access the data, programs and applications, provided they are equipped with access to internet. Some other advantages of cloud computing include reduction of exspenditure on technology infrastructure, streamlining processes, minimization of licensing new software, increased flexibility, reduction of personnel training burden, cost effective and almost unlimited storage.

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Along with other verticals, healthcare is also witnessing a rapid adoption of cloud computing technology for delivering improved services in a cost competitive manner. In healthcare research and development, cloud computing reduces cost associated with bringing a new drug into the market by improving inter-operability. Storing massive data associated with next generation sequencing is difficult for local storage to take up which can be easily resolved by cloud computing. Many pharmaceutical companies including Pfizer, Ltd. are also using cloud computing for conducting online clinical research.

Globally, the market for cloud computing in healthcare research and development is driven by increasing spending by major pharmaceutical giants on research and development, evolving next generation sequencing and various advantages associated with cloud computing. The globalization of major pharmaceutical and biopharmaceutical companies is also expected to play a key role in driving the market growth globally as they establish R&D facilities at various locations across the...