Healthcare Cloud Computing Market

Healthcare Cloud Computing Market Size & Growth (2019 - 2025)

By 2025, the healthcare cloud computing market is projected to reach USD 44.93 billion and also to grow at a CAGR of 18.2% from USD 16.77 billion in 2019.

Cloud computing in the healthcare sector is providing more convenient and in accessing the information of the patient history. Many hospitals are replaced with the electronic devices where the digital format of paper records are in existence and can also be stored. Claiming bills and other applications in the medical sector are greatly performed by the systems interfered with cloud computing.  The data can be revised in very less time and promotes effective treatment for the patients. With the help of these devices, the patient can be advised with the medications and diagnosed from home through online.

Growing prevalence for the internet of things and increased utilization of smartphones across the world is accelerating the demand of the market extensively. Rising support from the IT industry by solving the issues in real-time applications are additionally bolstering the demand of the market.

The global market for healthcare cloud computing is characterized by the application of favorable regulatory practices, increased healthcare investment, broadband broadcasting, government organizations, public awareness, stricter regulatory compliance requirements, new payment models, protection of patients and affordable healthcare practices. Healthcare cloud computing is one of the most widely used applications in the medical field. Health organizations are very concerned about the privacy and security of patient information and the burden of managing increased health data has led to the implementation of cost-effective solutions such as cloud computing. As a result, healthcare companies use cloud computing as an effective solution for data storage. This technology offers many advantages, such as business agility, privacy and security, and cost savings. With the growing use of information technology in the health sector, the adoption of cloud computing is increasing in the global medical industry.

However, this market faces great challenges, such as a high initial investment and a lack of skilled labor. The adoption of cloud computing by medical providers will increase significantly. It is expected that a Healthcare cloud solution that searches data intensively reduces the cost of IT to medical institutions. Rising privacy concerns among individuals are slowly restraining the demand of the market. Lack of security and increasing cybercrime issues are challenging factors for the development of the market.

There is an opportunity to develop responsible medical institutions in the global market to expand the scope of medical cloud computing and tele-cloud to create opportunities for the market. The growing number of healthcare cloud computing solutions for telemedicine is a tendency towards the current market.

Growth opportunities for the market lie in the launching of innovative applications by the top companies which are in favor of the end-users. Growing incidences of chronic diseases along with the rising geriatric population are impacting the demand of the market towards positive.

This research report on the Global Healthcare Cloud Computing Market has been segmented & sub-segmented into the following categories:

Healthcare Cloud Computing Market Analysis – By Application:

• Non-Clinical
• Clinical

Healthcare Cloud Computing Market Analysis – By Service Model:

• Information service
• Platform service
• Software service

Based on the service model, the Software as a service segment is accounting highest growth rate from the past years and to continue the same level in the review period.

Healthcare Cloud Computing Market Analysis – By Deployment Model:

• Public- cloud deployment model
• Private- cloud deployment model
• Hybrid -cloud deployment model

Healthcare Cloud Computing Market Analysis – By Region:

• North America - US, Canada, Mexico and Rest of North America
• Europe - UK, France, Spain, Germany, Italy,  Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
• APAC - India, China, Japan, South Korea,  Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
• Latin America - Brazil, Argentina, Chile and Rest of Latin America
• Middle East and Africa -  KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA

Regionally, North America is holding the highest shares of the market by owing to the adoption of the latest technological developments and also inventing innovative techniques in this platform. The Asia Pacific and Europe are following North America is dominating the shares of the market. The rise in the incidences chronic diseases and rising elderly population are outshining the demand of the market in these regions. The Middle East and Africa are elevated to the inclined growth rate in the foreseen years.

Top companies in the market

Companies like CareCloud Corporation (US), ClearData Networks Inc. (US), Athenahealth (US), Cerner Corporation (US), Epic Systems Corporation (US), NextGen Healthcare (US), Carestream Corporation (Canada), Dell Inc. (US), DICOM Grid Inc. (US), INFINITT Healthcare (South Korea), Sectra AB (Sweden), Merge Healthcare Inc. (US), Siemens Healthineers (Germany), iTelagen Inc. (US), NTT DATA Corporation (Japan), Nuance Communications (US), and Ambra Health (US) are leading in the healthcare cloud computing market.

Key takeaways from the report:

• Analysis of the current and future trends and growth potential of the market during the forecast period
• Evaluate market potential in terms of growth rates (CAGR), Value (USD) and Volume (Units) sales at country level across various segments of the market
• Understand the market dynamics and key influencers in terms of driving factors and opportunities of the market. Also, restraints and challenges that the industry has to endure
• Insights on competitor performance with a benchmarking analysis of their market position, financials and more
• Profiles of key market players providing a comprehensive understanding of their product portfolio, SWOT analysis, and growth strategies
• Information on key events in the recent past which includes mergers & acquisition, new product launches, collaborations, deals, and other agreements
• Analysis of the supply-demand gap, import-export statistics, and other key market insights for more than 20 countries globally
• Gauge the competition in the industry with Porter's five force analysis understanding the threat from new entrants and substitute products.
• Understand the effects of macro-level environment factors through the PESTLE analysis, providing a detailed assessment of the external factors that have an impact on the industry