A report from Transparency Market Research, titled “Cloud Computing Market in Healthcare Research and Development - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, states that the global cloud computing market in healthcare research and development is predicted to expand rapidly during the period from 2014 to 2020 due to the increasing acknowledgment of the advantages of cloud computing and rising spending of pharmaceutical and biopharmaceutical companies on research and development activities.

Cloud computing is a practice of using a network of remote services hosted on the internet to store, manage, and process data, rather than using a local server or a computer. Cloud computing eliminates the need for a computer’s hard drive or a local server for data sharing and management. One of the primary advantages of using cloud computing is that it globalizes the workforce affordably and effortlessly. People from any location across the globe can easily access the stored data, applications, and programs, provided they have an internet connection.

Reduction in the burden of personal training, cost-effectiveness, and unlimited storage are some of the advantages of cloud computing. The use of cloud computing is increasing across various verticals, especially in the healthcare industry. As far as healthcare research and development is concerned, cloud computing helps reduce the cost associated with introducing a new medicine in the market by enhancing interoperability. Storing and managing a massive amount of data related to next-generation sequencing is very difficult for any local storage platform. Cloud computing resolves this drawback of data storage.

The global cloud computing market in healthcare research and development is expected to expand at a rapid pace due to factors such as the rising spending by leading pharmaceutical and biopharmaceutical companies on research and development activities. Further, globalization of biopharmaceutical and pharmaceutical companies is predicted to play a lead role in propelling the global cloud computing market in healthcare research and development in the years to come. Drug companies across the world are focusing on housing and maintaining various central processing units (CPUs) that run constantly during the medicine discovery phase of research and development. With cloud computing technology, scientists working on medicine discovery can easily access the stored data.

By geography, the global cloud computing market in healthcare research and development is divided into North America, Europe, Asia Pacific, and Rest of the World. Currently, North America dominates the global cloud computing market in healthcare research and development as most of the major biopharmaceutical and pharmaceutical companies are located in the U.S. The Europe cloud computing market in healthcare research and development is expected to register rapid growth in the years to come.

Over the past few years, developing countries have been slow in adopting cloud computing technologies, resulting in restricted growth of the global cloud computing market in healthcare research and development. However, quick adoption of cloud computing technologies by developed countries is predicted to boost the global cloud computing market in healthcare research and development in the next five years. Some of the dominating companies in the global cloud computing market in healthcare research and development are Microsoft Corporation, IBM Corporation, Intel Corporation, and Oracle Corporation.