Healthcare Cloud Computing Market: Growth Driven by IT Adoption in Healthcare Sector

 

Overview and Scope
Healthcare cloud computing refers to integration of could computing services in healthcare which use remote servers accessed through the internet to store, manage, and process healthcare-related data. Healthcare cloud computing allows professionals and individuals to maintain electronic medical records for storing information about patient interactions, reduce data storage costs, offer superior data security, and more.

Sizing and Forecast
The healthcare cloud computing market size has grown rapidly in recent years. It will grow from $36.27 billion in 2023 to $41.33 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%.  The  growth in the historic period can be attributed to electronic health records (ehr) adoption, cost reduction initiatives, data security concerns, interoperability requirements, increased demand for storage and processing power.

The healthcare cloud computing market size is expected to see rapid growth in the next few years. It will grow to $74.36 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%.  The growth in the forecast period can be attributed to adoption of telehealth services, ai and machine learning integration, remote patient monitoring solutions, edge computing in healthcare, increased focus on data analytics. Major trends in the forecast period include blockchain for healthcare data management, hybrid cloud deployments, personalized medicine platforms, mobile health (mhealth) applications, integration of internet of things (iot) in healthcare systems.

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Segmentation & Regional Insights
The healthcare cloud computing market covered in this report is segmented –

1) By Deployment Model: Private Cloud, Hybrid Cloud, Public Cloud
2) By End User: Healthcare Providers, Healthcare Payers
3) By Pricing Model: Pay-as-you-go, Spot Pricing
4) By Service Model: Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS)
5) By Application: Clinical Information System, Non-Clinical Information System

Asia-Pacific was the largest region in the healthcare cloud computing market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rise in the adoption of information technology in the healthcare sector is significantly driving the growth of the healthcare cloud computing market. Information technology has paved the way for more precise healthcare services that help patients attain easy and quick access to various healthcare facilities. The most common examples of health information technology are electronic health records (EHRs), e-prescriptions, and other tech tools that help patients meet health goals such as managing blood sugar levels or quitting smoking. According to the 2021 Accenture health and life science experience survey of 1,800 people in the United States, nearly 26% said their access to healthcare has been even better with digital adoption since the onset of the COVID-19 pandemic. Thus, a rise in the adoption of information technology in the healthcare sector is expected to drive the healthcare cloud computing market growth.

Key Industry Players
Major companies operating in the healthcare cloud computing market report are International Business Machines Corporation, Onex Corporation, Athenahealth Inc., Siemens AG, GE Healthcare Company, Cisco Systems Inc., Iron Mountain Inc., Microsoft Corporation, Oracle Corporation, CareCloud Corporation, ClearDATA, Dell Technologies Inc., Agfa-Gevaert N. V, VMware Inc., Allscripts Healthcare Solutions Inc., Amazon Web Services Inc., eClinicalWorks, Cerner Corporation, Salesforce Inc., Google LLC, Hewlett Packard Enterprise Development LP, Fujitsu Limited, NTT DATA Corporation, Citrix Systems Inc., Nutanix Inc., Hitachi Ltd., Pure Storage Inc., Lenovo Group Limited, Huawei Technologies Co. Ltd., Zscaler Inc.

The healthcare cloud computing market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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