The ‘Global Healthcare Cloud Computing Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global healthcare cloud computing market, assessing the market on the basis of its segments like applications, services, deployments, end uses, and major regions.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Around USD 37.14 Billion
- Forecast CAGR (2023-2028): 15.60%
- Forecast Market Size (2028): Nearly USD 88.64 Billion
There is a growing deployment of cloud computing in healthcare applications to automate backend operations, enhance the safety of medical records, and facilitate the maintenance and creation of telehealth. In the healthcare sector, cloud computing is also used to increase the efficiency of operations, surge the accessibility to patient data, and reduce the risk of data loss.
Healthcare cloud computing is used to efficiently analyse and monitor diagnosis, cost, treatment, and performance. The healthcare cloud computing market growth can also be attributed to the rising focus on reducing operational expenditures in healthcare facilities, the growing demand for personalised patient care, and the surging attempts to deliver improved patient experiences.
There is a growing adoption of cloud computing in clinical information systems to automate tedious manual activities, increase the availability of clinical records, and reduce human errors. Besides, the increasing patient pool and rapid digitalisation of the healthcare sector are likely to aid the healthcare cloud computing market growth in the forecast period.
Industry Definition and Major Segments
Healthcare cloud computing refers to the implementation of the cloud via the internet for managing, storing, and processing data in the healthcare sector. The deployment of healthcare cloud computing is associated with various benefits, including reduced healthcare costs, increased ease of interoperability, and improved patient experiences, among others.
By application, the market is divided into:
- Clinical Information Systems (CIS)
- Electronic Health Record (EHR)
- Picture Archiving and Communication System (PACS)
- Radiology Information Systems (RIS)
- Computerised Physician Order Entry (CPOE)
- Pharmacy Information Systems (PIS)
- Nonclinical Information Systems (NCIS)
- Revenue Cycle Management (RCM
- Automatic Patient Billing (APB)
- Payroll Management System
- Claims Management
- Cost Accounting
The healthcare cloud computing market, on the basis of service, is segmented into:
- Software-as-a-Service (SaaS)
- Infrastructure-as-a-Service (IaaS)
- Platform-as-a-Service (PaaS)
Based on deployment, the market is categorised into:
- Private Cloud
- Public Cloud
- Hybrid Cloud
The market, on the basis of end uses, is categorised into:
- Healthcare Providers
- Healthcare Payers
The major regional markets of healthcare cloud computing include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The rising accessibility to high-speed internet, the surging cases of chronic issues, and the growing demand for integrated information solutions are driving the healthcare cloud computing market demand. With the growing adoption of technologies like the Internet of things (IoT) and big data analytics and the rising popularity of wearables, the deployment of healthcare cloud computing is likely to surge.
Cloud computing is increasingly being adopted by healthcare organisations to easily back up crucial data and ensure continuity of operations. Moreover, the surging amount of patient data with the rising adoption of digital solutions is bolstering the deployment of cloud computing solutions to streamline workflow and ensure better healthcare management.
Some of the key healthcare cloud computing market trends include the increasing focus to reduce healthcare infrastructure costs, rising attempts of healthcare providers to gain valuable insights by promoting the centralisation of data, and the increasing adoption of innovative technologies in the healthcare sector.
Key Market Players
The major players in the healthcare cloud computing market report are Amazon Web Services Inc., The athenahealth, Inc., CareCloud, Inc, Carestream Health Inc., ClearDATA Networks, Inc., Dell Inc., IBM Corporation, Iron Mountain Incorporated, Oracle Corporation, Siemens Healthcare GmbH, SAS Institute Inc., and e-Zest Solutions, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.