USD 44.39 Billion
Report ID:
SQMIG35G2288 |
Region:
Global |
Published Date: November, 2024
Pages:
209
|Tables:
138
|Figures:
73
Healthcare Cloud Computing Market size was valued at USD 44.39 Billion in 2023 and is poised to grow from USD 52.17 Billion in 2024 to USD 195.95 Billion by 2032, growing at a CAGR of 17.53% during the forecast period (2025-2032).
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.
Global Market Size
USD 44.39 Billion
Largest Segment
Private Cloud
Fastest Growth
Private Cloud
Growth Rate
17.53% CAGR
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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.
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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.
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Drivers
Growth of High-Speed Internet
Rising Geriatric Population to Increase Adoption of EHR
Restraints
Increasing Privacy and Data Security Concerns
High Initial Expenses of Implementation
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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
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 2023 | USD 44.39 Billion |
Market size value in 2032 | USD 195.95 Billion |
Growth Rate | 17.53% |
Base year | 2024 |
Forecast period | 2025-2032 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG35G2288
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