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MongoDB (MDB) Boosts App Development for Healthcare, Insurance
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MongoDB (MDB - Free Report) has introduced MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance. These two new programs help companies in the healthcare and insurance sectors accelerate the innovation efforts and deliver modern data-driven applications to its users more effectively.
These initiatives encompass expert-guided innovation workshops, customized technology collaborations and industry-specific knowledge boosters, offering personalized training paths for developers working on various use cases within these industries.
The offerings in MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance comprise solutions and features that enable organizations to transform their interactions with end users. This is achieved through the deployment of data-driven applications that offer flexibility, security and resilience tailored to the unique needs of the healthcare and insurance sectors.
These programs offer specialized educational resources, such as customized MongoDB University courses and learning materials. These initiatives enable organizations to efficiently train both new and experienced developers in the art of building modern and data-centric applications, thereby enhancing their operations and transforming user experiences.
MongoDB Faces Tough Competition in the Healthcare Cloud Market
According to a GVR report, in 2022, the global healthcare cloud infrastructure market reached a value of $56.3 billion and it is projected to experience a compound annual growth rate of 16.7% from 2023 to 2030.
Several factors are contributing to this growth, including the increasing shift toward digitalization in healthcare, the incorporation of advanced AI/ML algorithms, the adoption of cloud-based healthcare systems, rising healthcare expenditures, challenges in facility management and overwhelmed healthcare systems.
These trends are driving a significant demand for healthcare cloud infrastructure. By integrating these systems, healthcare facilities can streamline the operations, improve functionality, enhance data management and security, and ultimately provide better patient care. This is expected to drive higher adoption and demand for healthcare cloud infrastructure systems, leading to market expansion.
MongoDB encounters stiff competition in the healthcare sector, with formidable rivals like Amazon’s (AMZN - Free Report) division, Amazon Web Services (“AWS”), SAP (SAP - Free Report) and Oracle (ORCL - Free Report) .
AWS empowers healthcare institutions to create patient-centric digital interactions using cloud services, facilitating the development of mobile applications and engagement portals for patients. AWS Marketplace provides a carefully curated selection of third-party solutions that support the modernization of healthcare, the improvement of patient outcomes, regulatory requirements and the unlocking of the full potential of healthcare data.
In the realm of life sciences, SAP aims to leverage the SAP Business Technology Platform and industry-specific cloud solutions to offer customers tailor-made and end-to-end suites constructed from components cultivated within the industry's leading ecosystem. SAP's extensive expertise in life sciences has positioned it to provide foundational solutions in four key areas, such as clinical trials, manufacturing supply chain, batch release, and cell and gene therapy.
Oracle Cloud Infrastructure, a prominent player in this sector, is designed to support a wide range of healthcare workloads, including legacy applications, data-driven processes and modern machine learning services. Its purpose is to enable healthcare providers to make more informed decisions, anticipate patient risk factors and enhance the overall patient-centric healthcare experience.
MongoDB, which currently carries a Zacks Rank #3 (Hold), has entered into a strategic partnership with Inovaare to enhance and simplify healthcare compliance. This collaboration goes beyond just integrating technology and aims to fundamentally transform the healthcare compliance landscape. This partnership is expected to aid the company’s top-line growth as well as the number of customers in the upcoming quarters. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for MDB’s fiscal 2024 revenues is pegged at $1.61 billion, indicating year-over-year growth of 25.06%. The Zacks Consensus Estimate for total customers is pegged at 48,075, indicating a year-over-year increase of 17.8%.
Shares of MDB have gained 70.7% year to date compared with the Zacks Computer and Technology sector’s rise of 32% due to its progress in the healthcare sector.
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MongoDB (MDB) Boosts App Development for Healthcare, Insurance
MongoDB (MDB - Free Report) has introduced MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance. These two new programs help companies in the healthcare and insurance sectors accelerate the innovation efforts and deliver modern data-driven applications to its users more effectively.
These initiatives encompass expert-guided innovation workshops, customized technology collaborations and industry-specific knowledge boosters, offering personalized training paths for developers working on various use cases within these industries.
The offerings in MongoDB Atlas for Healthcare and MongoDB Atlas for Insurance comprise solutions and features that enable organizations to transform their interactions with end users. This is achieved through the deployment of data-driven applications that offer flexibility, security and resilience tailored to the unique needs of the healthcare and insurance sectors.
These programs offer specialized educational resources, such as customized MongoDB University courses and learning materials. These initiatives enable organizations to efficiently train both new and experienced developers in the art of building modern and data-centric applications, thereby enhancing their operations and transforming user experiences.
MongoDB, Inc. Price and Consensus
MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote
MongoDB Faces Tough Competition in the Healthcare Cloud Market
According to a GVR report, in 2022, the global healthcare cloud infrastructure market reached a value of $56.3 billion and it is projected to experience a compound annual growth rate of 16.7% from 2023 to 2030.
Several factors are contributing to this growth, including the increasing shift toward digitalization in healthcare, the incorporation of advanced AI/ML algorithms, the adoption of cloud-based healthcare systems, rising healthcare expenditures, challenges in facility management and overwhelmed healthcare systems.
These trends are driving a significant demand for healthcare cloud infrastructure. By integrating these systems, healthcare facilities can streamline the operations, improve functionality, enhance data management and security, and ultimately provide better patient care. This is expected to drive higher adoption and demand for healthcare cloud infrastructure systems, leading to market expansion.
MongoDB encounters stiff competition in the healthcare sector, with formidable rivals like Amazon’s (AMZN - Free Report) division, Amazon Web Services (“AWS”), SAP (SAP - Free Report) and Oracle (ORCL - Free Report) .
AWS empowers healthcare institutions to create patient-centric digital interactions using cloud services, facilitating the development of mobile applications and engagement portals for patients. AWS Marketplace provides a carefully curated selection of third-party solutions that support the modernization of healthcare, the improvement of patient outcomes, regulatory requirements and the unlocking of the full potential of healthcare data.
In the realm of life sciences, SAP aims to leverage the SAP Business Technology Platform and industry-specific cloud solutions to offer customers tailor-made and end-to-end suites constructed from components cultivated within the industry's leading ecosystem. SAP's extensive expertise in life sciences has positioned it to provide foundational solutions in four key areas, such as clinical trials, manufacturing supply chain, batch release, and cell and gene therapy.
Oracle Cloud Infrastructure, a prominent player in this sector, is designed to support a wide range of healthcare workloads, including legacy applications, data-driven processes and modern machine learning services. Its purpose is to enable healthcare providers to make more informed decisions, anticipate patient risk factors and enhance the overall patient-centric healthcare experience.
MongoDB, which currently carries a Zacks Rank #3 (Hold), has entered into a strategic partnership with Inovaare to enhance and simplify healthcare compliance. This collaboration goes beyond just integrating technology and aims to fundamentally transform the healthcare compliance landscape. This partnership is expected to aid the company’s top-line growth as well as the number of customers in the upcoming quarters. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for MDB’s fiscal 2024 revenues is pegged at $1.61 billion, indicating year-over-year growth of 25.06%. The Zacks Consensus Estimate for total customers is pegged at 48,075, indicating a year-over-year increase of 17.8%.
Shares of MDB have gained 70.7% year to date compared with the Zacks Computer and Technology sector’s rise of 32% due to its progress in the healthcare sector.