Healthcare Cloud Computing Market

Global Market Study on Healthcare Cloud Computing: Non-CIS to Dominate; Electronic Medical Records CIS to Gain Traction

Cloud Computing in Healthcare Industry Segmented By Electronic Medical Records System, Picture Archiving and Communication System, Pharmacy Information System, Radiology Information System, Laboratory Information System of Clinical Information System and Non-clinical Information System with Private Cloud, Hybrid Cloud, Public Cloud, Community Cloud Deployment Model in Software, Services, Hardware

Market Snapshot

Persistence Market Research has conducted a detailed research on the healthcare cloud computing market, and has predicted the market to surge at a stellar CAGR of 24% through. The market is expected to surge 6X over the next ten years and top a valuation of US$ 90 Bn in 2031. The market in South Korea is expected to surge at a phenomenal CAGR of 34% over the decade.

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Companies

  • Microsoft Corporation.
  • ORACLE CORPORATION.
  • International Business Machines Corporation.
  • Dell Inc.
  • CareCloud Corporation.
  • Agfa-Gevaert N.V.
  • Merge Healthcare Incorporated.
  • Other

Key Points Covered in Healthcare Cloud Computing Industry Survey:

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, country-wise, and region-wise analysis
  • Competition mapping and benchmarking
  • Brand share and market share analysis
  • Key product innovations and regulatory climate
  • COVID-19 Impact on healthcare cloud computing and how to navigate
  • Recommendation on key winning strategies

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Trends in the Healthcare Cloud Computing Space

Digitization and inclusion of cloud computing has been a major trend in many end-use industries, and healthcare is no different. Cloud computing in healthcare is now becoming a major trend as hospitals and other healthcare infrastructure are adopting technology to reduce errors and increase efficiency.

Cambia Health Solutions has a major upper hand in cloud computing in healthcare as it has developed a cloud-based platform that utilizes artificial intelligence that personalizes solutions for members on the basis of their risk profiles.

The system has been developed in order to clear confusion among users and give them reliable and easy-to-access solutions as per their requirements. The complexity of this platform is being eliminated by integrating other platforms to make it work seamlessly.

Cloud transformation solutions have been the key to making the shift toward cloud infrastructure, and Healthcare Triangle, a leading provider of these solutions, has announced the launch of a new platform – CloudEz, which is a framework that empowers healthcare organizations to build a self-serve cloud platform.

The platform enables organizations to integrate aspects such as clinical research, genomics, personalized healthcare, etc., to make it a one-stop solution for healthcare institutions.

healthcare-cloud-computing-market

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Introduction

Improvement of healthcare infrastructure invites the implementation of cloud computing as an effective data transportation and storage facility is bound to transform the sluggish pace at which clerical activities in medical organizations take place.

A database that tracks a patients previous health records, denotes it to any concerned hospital and updates with the current health and medicine conditions sounds benefitting for several medical professionals and pharmacologists.

The healthcare cloud computing industry survey projects a CAGR of 24% for the global market, to reach a market value of US$ 90 Bn by the end of the next ten years.

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Key Market Dynamics 

The growth of global healthcare cloud computing market is influenced by dozens of benefits derived from using cloud computing in healthcare activities. Speeding up the data or document processing in healthcare facilities is a key factor prompting the use of cloud computing.

The global healthcare cloud computing market is expected to reap unlimited cost-savings from upgrading their conventional information & data systems with cloud computing services that can share crucial and important information of patients and their medications among healthcare professionals and pharmacists.

Turning over confidential data, however, is a risky move as the world has witnessed the jinx of cloud computing when several personal information and data of public figures had gotten leaked in the recent years. Additionally, handing over such data to a third party draws skepticism and anxiety among patients.

Error limitations and inefficient disaster backup are also key restraints curbing the use of cloud computing in the healthcare industry. Furthermore, incorporating with a tech company might hamper the existence of the medical organization if the former loses its operational and financial stability or even worse, goes bankrupt.

Segment Analysis

The global market for healthcare cloud computing is primarily classified into applications, deployment model, service model and components. Clinical information systems (CIS) and non-CIS are the two pivotal applications of healthcare cloud computing, where the latter accounts for the largest segment in the global healthcare cloud computing market.

CIS-based segmentation includes systems such as pharmacy information system (PIS), electronic medical records (EMR), laboratory information system (LIS), radiology information system (RIS), picture archiving & communication system (PACS), and computerized physician order entry (CPOE) system; with EMR systems being the leading CIS-based segment.

Based on the service models, the global market is fragmented into platform-as-a-service (PaaS), infrastructure-as-a-software (IaaS), and software-as-a-service (SaaS) models, among which the SaaS model is slated to dominate the market through 2031.

Components such as software, service and hardware are also segmented in the market, while cloud computing deployment models such as community cloud, public cloud, hybrid cloud and private cloud are also classified for assessing the growth of global healthcare cloud computing market.

By 2031, software is likely to be helmed as the largest component-based segment, while private cloud computing deployment model will retain similar dominance in the global market.

Regional Analysis 

An advanced healthcare infrastructure and dominance in global IT industry benefits the presence of North America in global healthcare cloud computing market growth. The US is slated to be the largest market in North America over the forecast period. North America’s healthcare cloud computing market held a huge share of 35% in the global market in 2020.

Key Market Players

When healthcare implements cloud computing, it is discernible that leading tech giants will acts as the key market participants. Global technology mammoths such as Microsoft Corporation, International Business Machines (IBM) Corporation, Dell Inc., and ORACLE CORPORATION, dominate the global healthcare cloud computing market, while it is also witnessing exceptional contribution from dedicated healthcare cloud computing companies such as Carestream Health Inc., Merge Healthcare Incorporated, GE Healthcare, Athenahealth Inc., Agfa-Gevaert N.V., and CareCloud Corporation, among others.

Media Release

- FAQs -

The global healthcare cloud computing market is valued at US$ 14.5 Bn, and is projected to accelerate at a stupendous CAGR of 24% through the next ten years.
The global market for healthcare cloud computing is anticipated to balloon up to a sizable US$ 90 Bn by the end of decade.
The market registered an impressive CAGR of 20.1% over the past 5 years.
Top 5 players - IBM, Siemens Healthineers AG, Koninklijke Philips N.V., Allscripts Healthcare Solutions, Inc., and GE Healthcare - account for approximately 40% share of the global market.
North America accounted for a huge share of 35% of the global market share in 2020.
The U.S., Japan, Germany, China, and India are key providers of healthcare cloud computing services.
The market in France is expected to beam through at an impressive CAGR of 32% over the next 10 years.
Japan is expected to surge at an impressive CAGR of 28%, while the market in South Korea is expected to race ahead at an astronomical CAGR of 34%through 2031.
IBM, Koninklijke Philips N.V., and Allscripts Healthcare Solutions Inc. are leading exporters of healthcare cloud computing services.
The U.S., Canada, Mexico, France, China, and India are major countries driving demand for healthcare cloud computing.
Technological advancements that will fuel cloud computing is a major trend driving market growth.
Increasing adoption of Internet of Things (IOT), wearable devices, and Big Data Analytics in healthcare is driving market demand for healthcare cloud computing.
The global healthcare cloud computing market is valued at US$ 14.5 Bn, and is projected to accelerate at a stupendous CAGR of 24% through the next ten years.
The global market for healthcare cloud computing is anticipated to balloon up to a sizable US$ 90 Bn by the end of decade.
The market registered an impressive CAGR of 20.1% over the past 5 years.
Top 5 players - IBM, Siemens Healthineers AG, Koninklijke Philips N.V., Allscripts Healthcare Solutions, Inc., and GE Healthcare - account for approximately 40% share of the global market.
North America accounted for a huge share of 35% of the global market share in 2020.
The U.S., Japan, Germany, China, and India are key providers of healthcare cloud computing services.
The market in France is expected to beam through at an impressive CAGR of 32% over the next 10 years.
Japan is expected to surge at an impressive CAGR of 28%, while the market in South Korea is expected to race ahead at an astronomical CAGR of 34%through 2031.
IBM, Koninklijke Philips N.V., and Allscripts Healthcare Solutions Inc. are leading exporters of healthcare cloud computing services.
The U.S., Canada, Mexico, France, China, and India are major countries driving demand for healthcare cloud computing.
Technological advancements that will fuel cloud computing is a major trend driving market growth.
Increasing adoption of Internet of Things (IOT), wearable devices, and Big Data Analytics in healthcare is driving market demand for healthcare cloud computing.

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