The global healthcare cloud computing market size is expected to hit US$ 91.94 billion by 2028 and growing at a remarkable CAGR of 17.2% over the forecast period 2022 to 2030.
The global healthcare cloud computing market size is expected to hit US$ 91.94 billion by 2028 and growing at a remarkable CAGR of 17.2% over the forecast period 2022 to 2030.
According to Precedence Research, the global healthcare cloud computing market size was reached at US$ 30.5 billion in 2021.
Growth Factors
The healthcare cloud computing is the use of cloud computing services and infrastructure to save, preserve, and retrieve personal health information. The healthcare business has benefitted from cloud computing because it provides a platform for on-demand hosted services, on-demand processing, and massive storage. It has improved authorities’ access to information and records. The expanding acceptability of enormous data examination, wearable gadgets, and the internet of things are the key drivers of the healthcare cloud computing market. The healthcare providers generate and gather information from a variety of internal sources including lab tests, electronic health records, solution data, and radiological pictures. Also, as the number of patients is suffering from various ailments is growing, so does the requirement for effective data management technologies.
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The simplicity of interoperability, access to powerful analytics, cost reductions, and patient data ownership, telemedicine capabilities are all contributing to cloud computing’s expanding appeal among healthcare practitioners. The market for the healthcare cloud computing has proven to be beneficial to both patients and healthcare providers, ensuring industry growth. The consumption, generation, storage, and sharing of healthcare data has experienced a massive transformation from traditional methods to digitalization in the healthcare sector. As a result, the increased demand for the healthcare cloud computing solutions is propelling the healthcare cloud computing market growth during the forecast period. In addition, the healthcare cloud computing market is also predicted to grow due to the expansion of high-speed internet and the implementation of favorable legislative actions.
Report Highlights:
- Based on the application, the clinical information systems segment dominated the global healthcare cloud computing market in 2020 with highest market share. The rising frequency of chronic diseases necessitates the storing of vast amounts of clinical data. Medical practitioners are in great demand for clinical information systems as a result of this.
- Based on the cloud deployment, the private cloud segment dominated the global healthcare cloud computing market in 2020 with highest market share. The private cloud is a protected platform to which only authorized users have access. The organization has strong security and control over this model.
- Based on the services, the SaaS segment dominated the global healthcare cloud computing market in 2020 with highest market share. Web-based mail, inventory control, and database processing are all examples of SaaS services. The service provider essentially owns both the data and the program, and the end user can access the service from anywhere at any time.
- North America is the largest segment for healthcare cloud computing market in terms of region. The growing in information technology activities by private and public organizations as well as developments in healthcare information technology infrastructure are all contributing to the healthcare cloud computing market.
- Europe region is the fastest growing region in the healthcare cloud computing market. The healthcare cloud computing market is being boosted by factors such as the growing elderly population, the rise in chronic illness burden, and the presence of efforts encouraging the use of integrated health systems.
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Future of Healthcare Cloud Computing Market
The advent of the Tele-cloud is considered as a crucial opportunity in the healthcare cloud computing market. The use of remote innovation and the cloud to transfer patient data to remote areas has shown to be a very reliable method. As a result, the rising demand for Tele-cloud is offering profitable chances for the expansion of the healthcare cloud computing market in near future.
COVID-19 Impact Analysis:
- Due to increased use of digital platforms in the healthcare business and government assistance, the COVID-19 epidemic had a beneficial impact on the healthcare cloud computing market.
- During the pandemic, numerous applications in patient data management related to COVID-19 as well as the incorporation of cloud computing services in the healthcare industry have continued to boost the healthcare cloud computing market growth.
Key Developments in the Marketplace:
- The British SWASH consortium of NHS Trusts has extended its radiology imaging contract with Sectra until 2020, in order to integrate its four existing systems into one for greater enterprise-wide access and collaboration around patient imaging.
- Allscripts and Microsoft renewed their strategic partnership in 2020, with the goal of transforming cloud-based health information technology solutions.
- NextGen Healthcare and Doctible joined in 2020 to provide a completely automated and integrated cloud-based technology to help clinicians retain patients and expand small practices.
- In 2019, IBM purchased Red Hat boosting IBM’s hybrid cloud portfolio and paving the way for the creation of a next-generation multi-cloud hybrid platform.
By Cloud Deployment
- Public
- Private
- Hybrid
By Application
- Clinical Information System
- Telehealth Solutions
- Computerized Physician Order Entry
- Population Health Management (PHM) Solutions
- Electronic Medical Records
- Pharmacy Information System
- Radiology Information System
- Others
- Non-clinical Information System
- Revenue Cycle Management (RCM)
- Billing & Accounts Management Solutions
- Claims Management
- Others
By Service
- Platform as a service (Paas)
- Infrastructure as a service (Iaas)
- Software as a service (Saas)
By End Users
- Healthcare providers
- Healthcare payers
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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