USD 15.78 Billion
Healthcare Cloud Computing Market Size, Share, Growth Analysis, By Product Type (Healthcare Provider Solutions, Healthcare Payer Solutions), By Component (Services, Solutions), By Pricing Model (Pay-As-You-Go Pricing Model, Subscription-Based Pricing Model), By Deployment Model (Private Cloud, Hybrid Cloud), By Service Model (Software-As-A-Service, Infrastructure-As-A-Service), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2288 |
Region:
Global |
Published Date: November, 2024
Pages:
209
|Tables:
138
|Figures:
73
Healthcare Cloud Computing Market Insights
Global Healthcare Cloud Computing Market size was valued at USD 36.60 billion in 2022 and is poised to grow from USD 44.39 billion in 2023 to USD 166.72 billion by 2031, growing at a CAGR of 17.53% during the forecast period (2024-2031).
In recent times, the demand for healthcare cloud computing market is increasing due to the rising popularity for integrated information systems. The rising prevalence of chronic diseases and aging population are boosting the market growth. The rising demand-supply gap in the medical sector has resulted in a growing need for IT, driving the adoption of cloud computing. Furthermore, technologically innovative medical infrastructure, particularly the hospitals in developed economies, is one of the primary factors propelling the market demand. With the growing population and massive amount of patient information, incorporation of data and having real-time access have become a necessity. Lately, many private and public facilities in medical IT infrastructure are increasing investments in healthcare, positively influencing the growth of the market. The medical establishments can immensely benefit from the cloud due to the latest technological developments and increased security. Technological innovations like remote monitoring, natural language processing APIs, and telehealth cloud technology are advancing to fit the unique digital health settings. These factors are increasing the demand for healthcare cloud computing market massively.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
SaaS
Fastest Growth
Clinical Information Systems
Growth Rate
11.8% CAGR
Healthcare Cloud Computing Market ($ Bn)
Country Share for North America Region (%)
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Healthcare Cloud Computing Market Segmental Analysis
Global Healthcare Cloud Computing Market is segmented by Product Type, Component, Pricing Model, Deployment Model, Service Model, End User, and Region. Based on Product Type, the market is segmented into Healthcare Provider Solutions (Clinical Information Systems (EHR/EMR, PACS And VNA, PHM Solutions, Telehealth Solutions, Radiology Information Systems, Laboratory Information Systems, Pharmacy Information Systems, Other Clinical Information Systems), Non-Clinical Information Systems (Revenue Cycle Management Solutions, Financial Management Solutions, Health Information Exchange Solutions, Supply Chain Management Solutions, Billing & Account Management Solutions, Other Non-Clinical Information Systems)), Healthcare Payer Solutions (Claims Management Solutions, Payment Management Solutions, Customer Relationship Management Solutions, Provider Network Management Solution, Fraud Management Solutions). Based on Component, the market is segmented into Services (Consulting Services, Implementation Services And It Support, Training & Education Services, Post-Sales & Maintenance Services), Software. Based on Pricing Model, the market is segmented into Pay-As-You-Go Pricing Model, Subscription-Based Pricing Model. Based on Deployment Model, the market is segmented into Private Cloud, Hybrid Cloud, Public Cloud. Based on Service Model, the market is segmented into Software-As-A-Service, Infrastructure-As-A-Service, Platform-As-A-Service. Based on End User, the market is segmented into Healthcare Providers (Hospitals, Pharmacies, Diagnostic Imaging Centers, Ambulatory Surgery Centers), Healthcare Payers (Public Payers, Private Payers). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Deployment Type
Based on deployment type, the market is segmented into private cloud, public cloud, and hybrid cloud. The private cloud segment is dominating the healthcare cloud computing market. With the help of private cloud computing healthcare facilities can get secure computing settings. These computing storages are not accessible to the public offering better security to confidential and crucial data. The private cloud can securely store health information (PHI) protected from attacks, breaches, and other risks to the patient’s data that can make them vulnerable. These factors are increasing the adoption of private cloud, leading to the growth of the segment in the healthcare cloud computing market.
The hybrid cloud segment is witnessing the fastest growth in the healthcare cloud computing market. The hybrid cloud mixes on-premises structures with public and private cloud services, allowing businesses to shift workloads in virtual servers and safely meet the transforming demands for IT resources. The advancement of medical organizations' IT assets to innovative, adaptable structures is increasing. By mixing the benefits of public cloud and on-premises structure, a hybrid cloud allows business apps and information to become more flexible and profitable. The components of medical structures like healthcare providers and payers, life sciences, and consumer health can benefit by shifting to hybrid cloud infrastructure.
Analysis by End User
Based on end user, the market is segmented into healthcare providers and healthcare payers. The healthcare payers segment is dominating the healthcare cloud computing market. This is mainly because insurance firms, third-party payers, and health plan sponsors are all healthcare payers. The payers are rapidly incorporating cloud computing solutions to secure their systems from fraudulence and insurance claim settlement. The cloud also helps them to secure and store the collected data and implies risk assessment. Generally, insurers must face challenges while managing high-risk patient populations. To minimize the rising medical expenses, payers are incorporating these innovative systems and solutions with advanced technology. Cloud computing also allows payers to develop their business, increase dependability, reduce administrative expenses, and improve services.
The healthcare provider segment is witnessing the fastest growth in the healthcare cloud computing market. This is mainly due to the increasing connectivity to hospitals with the help of advanced infrastructure, resulting in an increased demand for SaaS model. The advantages of these innovative systems consist of offsite data storage and management, easy outsourcing of IT solutions and services, and mitigating the requirement for IT staff in-house. Furthermore, the segments are also continuously growing due to enhanced scalability, flexibility, data management with better computing systems and solutions, and continuous technological development. These factors are propelling the growth of the healthcare provider segment in the healthcare cloud computing market.
Healthcare Cloud Computing Market By Deployment Model
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Healthcare Cloud Computing Market Regional Insights
North America is dominating the healthcare cloud computing market with the largest share revenue. This is mainly due to the high adoption of healthcare IT services and immense support from government facilities. The patients in this region are encouraged to utilize patient portals offered by healthcare providers. Such online structure for patients offers rapid and constant access to their personal health information from any place with network connectivity. Patients can also manage their health and care with the assistance of patient portal. These portals can also help in care between visits, enabling interaction with doctors and physicians and save a lot of time. This is increasing the demand for healthcare cloud computing market in North America.
Asia-Pacific is witnessing the fastest growth in the healthcare cloud computing market. The growth is mainly due advancement in healthcare structures in developing economies like India, China, and Japan as they present immense opportunities. Factors like rising geriatric population, increasing prevalence of chronic illnesses, and the presence of government initiatives supporting the adoption of integrated health systems are driving the market growth. Furthermore, enhancement in healthcare structures in this region with increasing usage of IT solutions in the medical field is boosting the market expansion. These factors are helping in the growth and advancement of the healthcare cloud computing market in the Asia Pacific region.
Healthcare Cloud Computing Market By Region
- Largest
- Fastest
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Healthcare Cloud Computing Market Dynamics
Drivers
Growth of High-Speed Internet
- The emergence of high-speed internet like 5G and the implementation of strict controlling acts are increasing the growth of healthcare cloud computing market globally. This high-speed internet helps the patients to smoothly interact with their doctors and physicians. It also helps to seamlessly store huge amounts of data in cloud storage without any disturbances.
Rising Geriatric Population to Increase Adoption of EHR
- The implementation of electronic health records is increasing in most of the regions. This is mainly owing to the developments in IT solutions, e-prescribing, mHealth, telehealth, and more. The increasing geriatric population is one of the main factors responsible for chronic illnesses. For this reason, hospitals globally are dealing with challenges like lack of beds, medical equipment, and other medical facilities. This is pushing the healthcare market towards the implementation of healthcare cloud computing solutions.
Restraints
Increasing Privacy and Data Security Concerns
- Concerns about data portability barriers, data protection, and increasing data breaches in the cloud are restricting the advancement of the healthcare cloud computing market. Furthermore, the lack of skilled IT professionals has also reduced the implementation of this technology. It is extremely challenging to find professionals with HIPAA expertise, so the demand for qualified professionals is growing rapidly. This is slowing down the process of shifting to cloud computing systems. Therefore, this is massively hindering the growth of healthcare cloud computing market.
High Initial Expenses of Implementation
- The initial investment necessary for migration, training, and incorporation can be extremely high. This is especially true for smaller medical providers and startups, which might prevent them from investing in healthcare cloud computing solutions. Factors like subscription fees, data storage, and maintenance expenses can increase costs with time. This will possibly exhaust the budget of medical organizations, particularly the ones that have restricted financial resources.
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Healthcare Cloud Computing Market Competitive Landscape
The market players are emphasizing on different strategic initiatives for developing their businesses in the international market. Government facilities are also encouraging the usage of this system by investing more in cloud infrastructure. The market leaders are constantly introducing services and software that allows smooth gathering and processing huge amounts of data that can be beneficial for patients and advancement of healthcare. These factors are propelling the growth of the healthcare cloud computing market.
Top Player’s Company Profile
- Amazon Web Services, Inc.
- Microsoft
- Alphabet, Inc.
- Hellman & Friedman (Athenahealth, Inc.)
- CareCloud, Inc.
- Siemens AG
- Eclinicalworks
- Koninklijke Philips N.V.
- Veradigm LLC
- NTT
- Sectra AB
- General Electric
- DXC Technology Company
- Salesforce, Inc.
- Fujifilm Holdings Corporation
- Dell Inc.
- Oracle
- Ensoftek, Inc.
- Iron Mountain, Inc.
- Cleardata
- Broadcom Inc. (VMware)
- Infinitt Healthcare Co., Ltd.
- Hyland Software, Inc.
- VePro AG
- Thoma Bravo (NXGN Management, LLC.)
Healthcare Cloud Computing Key Market Trends
- Rising Prevalence of Diseases and Government Initiatives: The increasing incidences of different diseases, growing medical expenses, and rising investments in research and development are primarily enhancing the possibilities of businesses region. Increasing initiatives by governments to digitize healthcare systems, the increased development of clinical infrastructure, and growing the digital literacy of the public are also increasing market dynamics.
- Advent of Telecloud and Usage of Blockchain: The transformation of wireless technology and the cloud has become an extremely powerful mechanism for providing patient care in remote areas. In some nations, most doctors and physicians work in metropolitan areas and cities. Advanced medical facilities are only accessible in such places, leaving rural patients neglected. These challenges can be solved by utilizing telecloud as it will allow doctors and medical providers to diagnose and treat patients remotely, in real-time, and cost-efficiently.
Healthcare Cloud Computing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global healthcare cloud computing market is growing exponentially. This is mainly because market leaders are focusing on various strategic policies for increasing their footprint in the international market. Government facilities are also investing in cloud computing and encouraging companies to invest in it for securing data. Many companies have also introduced services and software that allows the gathering and processing of huge amounts of information that can assist in the advancement of the sector. This software also offers easy access to patient information that helps medical providers to make informed decisions. These factors are cumulatively responsible for the growth of the global healthcare cloud computing market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 36.60 billion |
| Market size value in 2031 | USD 166.72 billion |
| Growth Rate | 17.53% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Healthcare Cloud Computing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Healthcare Cloud Computing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Healthcare Cloud Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Healthcare Cloud Computing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Healthcare Cloud Computing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Healthcare Cloud Computing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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