Global Healthcare Cloud Computing Market – Industry Trends and Forecast to 2030

Global Healthcare Cloud Computing Market, By Product (Healthcare Provider Solutions, Non-clinical Information Systems (NCIS), and healthcare payer solutions), Deployment (Private Cloud, Public Cloud, and Hybrid Cloud), Component (Software and Services), Pricing Model (Pay-As-You-Go and Spot Pricing Model), Service Model (Software-As-A-Service, Infrastructure-As-A-Service, and Platform-As-A-Service), End User (Healthcare Providers and  Healthcare Payers) – Industry Trends and Forecast to 2030.

Healthcare Cloud Computing Market Analysis and Size

The proliferation of high-speed internet across the globe is one of the major factors driving the growth of the healthcare cloud computing market. The high adoption of wearable devices, big data analytics, and (Internet of Things) IoT in the healthcare sector, proliferation of new payment models, and the cost-efficiency of the cloud accelerate the market growth. The rise in the popularity of the technology owing to the various advantages such as flexibility, better storage, and scalability of data offered by cloud computing, and availability of the dynamic nature of health benefit plan designs further influence the market. Additionally, advancements in healthcare infrastructure, the surge in disposable income, rapid digitization, and the formation of accountable care organizations positively affect the healthcare cloud computing market. Furthermore, the emergence of the telecloud and the use of blockchain in the health cloud extend profitable opportunities to the market players from 2023 to 2030.

On the other hand, data security, privacy concerns, and complex regulations governing cloud data centers are expected to obstruct market growth. Interoperability and portability issues and the high dependence of users on the internet and provider renting policies are projected to challenge the healthcare cloud computing market in the forecast period.

Data Bridge Market Research analyses that the Healthcare cloud computing market, which was USD 35.61 billion in 2022, would rocket up to USD 127.04 billion by 2030 and is expected to undergo a CAGR of 17.2% during the forecast period. “Hospitals” dominates the end user segment of the Healthcare cloud computing market owing to the growing demand for the drug.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Healthcare Cloud Computing Market Scope and Segmentation

Market Definition

Cloud computing is known to enhance real-time data collection and improves accessibility to the data. The technology has outpaced the conventional paper healthcare system as it offers more speed and efficiency in data handling.

Global Healthcare Cloud Computing Market Dynamics

Drivers

• The proliferation of high-speed internet

The propagation of high-speed internet and execution of promising controlling acts are also predictable to deliver growth prospects to the healthcare cloud computing market worldwide. Yet, concerns connected to data portability obstacles, data privacy, and an increasing number of cloud data breaches are curtailing the advancement of the healthcare cloud computing market worldwide. Further, the deficiency of accomplished I.T. professionals has decelerated the implementation of this technology. Competent specialists are in great demand due to the struggle to find professionals with HIPAA expertise.

• Rise in the Industry's Delivery of Emergency Medical Services

There are various ways in which the pandemic has been unprecedented. To combat the pandemic and construct new facilities, set up a secure method of mass screening, or get the vaccine on the market, time was of the essence. It is possible to rely on cloud technology to accelerate the release of critical tech solutions in the industry. By selecting Amazon Web Application services, they could meet both the stringent regulatory requirements involved with managing medical and personal data and execute the app in the record-breaking two-week time frame.

For instance, Spoedtestcorona, a network of testing facilities offering Covid-19 quick diagnostic tests, had a hurdle when attempting to create a cross-platform web application on time while aiming to provide safe and inexpensive testing in the Netherlands and Belgium. The software was supposed to reduce face-to-face contact and secure testing for patients and medical professionals.

• Technological advancements and augmented security

A strategy that is gradually moving up in healthcare is the hybrid cloud. The hybrid cloud combines on-premises infrastructure with public and private cloud services, enabling businesses to shift workloads across virtual servers rapidly and safely to meet changing demands for I.T. resources. It includes password-sheltered surroundings, door initial alarms, pre-set, and others that will lead to the market's growth.

Technological advancements such as remote monitoring, natural language processing APIs, and telehealth cloud technology will endure to advance to fit novel digital health settings in multiple important ways for years to come. As per the Analytics Survey of HIMSS, more than 83% of healthcare organizations are now using cloud services.

Opportunities

• Cloud Computing's Expanding Use in Healthcare Provides Access to Big Data Applications

There are greater prospects for big data applications to improve patient outcomes due to the expanding espousal of cloud-based data storehouse techniques in the healthcare industry. For instance, medical professionals in the U.S.. previously maintained patient records on paper. The amount of potentially valuable data in EMRs of the patient has always been enormous. This data could be utilized to forecast when a pandemic could start, find minute patterns in patient sicknesses that might indicate the disorder's origins, or determine which treatments were most successful for a particular symptomatic group.

All data previously locked away in filing storerooms can now be scoured via and analyzed by the most sophisticated computer algorithms owing to the use of cloud computing in hospitals and medical practices. Healthcare professionals will soon be able to identify and address hazards to the public's health that could previously go undetected until far in their life cycles. Such increasing applications will create lucrative opportunities in the market, thereby supplementing the market growth.

Restraints/Challenges

• Data Security and Privacy Concerns

On the other hand, data security, privacy concerns, and complex regulations governing cloud data centers are expected to obstruct market growth. Moreover, the Interoperability and portability issues and high dependence of users on the internet and provider renting policies are projected to challenge the healthcare cloud computing market in the forecast period of 2023-2030.

This healthcare cloud computing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the healthcare cloud computing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In January 2022, Visionflex entered a partnership agreement with MediRecords, Australia’s provider of cloud-based electronic medical record and practice management systems. The partnership will see the companies work toward integrating Visionflex’s video conferencing platform, Vision, with MediRecords’ cloud-based electronic health record and practice management software platforms.
• In September 2022, LifePoint Health, a diversified healthcare delivery network dedicated to making communities healthier, and Google Cloud entered a multi-year strategic partnership to transform healthcare delivery in communities across the United States through LifePoint's implementation of Google Cloud's Healthcare Data Engine (HDE).

Global Healthcare Cloud Computing Market Scope

The healthcare cloud computing market is segmented on the basis of product, deployment, component, pricing model, service model, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Healthcare Provider Solutions
• Clinical Information Systems (CIS)
• EHR/EMR
• PACS and VNA
• RIS
• LIS
• PIS
• PHM Solutions
• Telehealth Solutions
• Other Cis
• Non-Clinical Information Systems (NCIS)
• RCM Solutions
• Financial Management Solutions
• HIE solutions
• Supply Chain Management Solutions
• Billing And Accounts Management Solutions
• Other NCIS
• Non-clinical Information Systems (NCIS)
• Healthcare Payer Solutions
• Claims Management Solutions
• Payment Management Solutions
• Customer Relationship Management Solutions
• Provider Network Management Solutions
• Fraud Management Solutions.

Deployment

• Private Cloud
• Public Cloud
• Hybrid Cloud

Component

• Software
• Services

Pricing Model

• Pay-As-You-Go
• Spot Pricing Model

Service Model

• Software-As-A-Service
• Infrastructure-As-A-Service
• Platform-As-A-Service

End User

• Healthcare Providers
• Healthcare Payers

Global Healthcare Cloud Computing Market Analysis/Insights

The Healthcare cloud computing market is analysed and market size insights and trends are provided by country, product, deployment, component, pricing model, service model, and end user as referenced above.

The countries covered in the Healthcare cloud computing market report are U.S.., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America.   

North America is expected to dominate the market due to the presence of advanced healthcare infrastructure.

Asia-Pacific is expected to grow during the forecast period due to surge in regional investments.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The healthcare cloud computing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Healthcare cloud computing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the market. The data is available for historic period 2015-2020.

Competitive Landscape and Global Healthcare Cloud Computing Market Share Analysis

The healthcare cloud computing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the healthcare cloud computing market are:

• CareCloud Corporation (U.S.)
• Carestream Health(U.S.)
• ClearDATA (U.S.)
• Dell (U.S.)
• NetDepot.com LLC (U.S.)
• IBM Corporation (U.S.)
• Iron Mountain Incorporated (U.S.)
• Cisco Systems Inc. (U.S.)
• H.P. Development Company, L.P. (U.S.)
• Microsoft (U.S.)
• Salesforce.com, Inc. (U.S.)
• SYNOPTEK, LLC. (U.S.)
• Cisco(U.S.)
• Oracle (U.S.)
• G.E. healthcare (U.S.)
• CitiusTech Inc. (U.S.)
• Napier Healthcare Solutions Pte. Ltd. (Singapore)
• Optum, Inc. (U.S.)
• McKesson Corporation (U.S.)
• 3M (U.S.)
• Omnicell, Inc. (U.S.)
• Wipro(U.S.)
• Nuance Communications, Inc., (U.S.)
• Infosys Limited (U.S.)
• Cognizant (U.S.)