REDDING,
Calif., May 16, 2024 /PRNewswire/ -- According to
a new market research report titled, 'Healthcare
Cloud Computing Market by Offering (Solutions,
Services), Business Model, Deployment Mode (Public Cloud, Hybrid
Cloud, Private Cloud), End User (Healthcare Providers, Healthcare
Payers), and Geography—Global Forecast to 2031,'
the healthcare cloud computing market is projected
to reach $131.8 billion by 2031,
at a CAGR of 18.4% from 2024–2031.
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Healthcare cloud computing refers to the use of cloud computing
technologies and services in the healthcare industry to store,
manage, process, and share healthcare-related data and
applications. This approach allows healthcare organizations, such
as hospitals, clinics, research institutions, and pharmaceutical
companies, to leverage the scalability, flexibility, and
cost-effectiveness of cloud computing to improve patient care,
streamline operations, enhance data security, and foster
innovation.
The growth of the healthcare cloud computing market is driven by
the growing need for personalized medicines and the increasing
adoption of analytics and IoT in the healthcare sector. However,
growing data security & privacy concerns restrain the growth of
this market. Moreover, the increasing demand for healthcare cloud
computing solutions in the clinical research & drug development
sector and the growing use of blockchain technology for managing
electronic health records are expected to generate market growth
opportunities. However, complexities in data migration and
stringent regulatory compliance are major challenges for market
stakeholders. Additionally, wearable medical devices and telehealth
and telemedicine are prominent trends in this market.
The global healthcare cloud computing market is segmented
by offering (solutions [clinical information systems {electronic
health record systems, laboratory information system, telemedicine
and telehealth platforms, radiology information system, remote
patient monitoring systems, clinical decision support systems, and
other clinical information systems}, non-clinical information
systems {practice management solutions, revenue cycle management
solutions, supply chain management solutions, human resources
management solutions, and other non-clinical information
solutions}, and healthcare operation management solutions {customer
relationship management solutions, claims management solutions,
fraud management solutions, network management
solutions, and other healthcare operation management solutions}]
and services [professional services and managed services]), service
model (software-as-a-service, infrastructure-as-a-service,
business-process-as-a-service, and platform-as-a-service),
deployment mode (public cloud, private cloud, and hybrid cloud),
and end user (healthcare providers and healthcare payers). The
study also evaluates industry competitors and analyzes the market
at geographical levels.
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Based on offering, in 2024, the solutions segment is
expected to account for the larger share of 92% of the
healthcare cloud computing market. However, the services segment is
projected to register the highest CAGR during the forecast
period due to the increasing need to offer partial or complete
management of a client's cloud resources or infrastructure and the
increasing demand for professional services to adopt, implement,
and optimize healthcare cloud computing solutions, the growing need
for managed services such as data security and compliance,
infrastructure scalability, cost optimization, data backup, and
recovery.
Based on service models, in 2024, the
software-as-a-service segment is expected to account for the
largest share of 48.6% of the healthcare cloud computing
market. The large market share of this segment is attributed to the
growing need to improve data management, productivity, data
security, and privacy for healthcare data. Moreover, this segment
is expected to register the highest CAGR during the forecast
period.
Based on deployment mode, in 2024, the public cloud
segment is expected to account for the largest share of the global
healthcare cloud computing market. The large market share of this
segment is attributed to the efforts by market players to
launch healthcare cloud computing services and the benefits offered
by public healthcare cloud systems, such as cost-effectiveness,
scalability, and flexibility. Moreover, this segment is expected to
register the highest CAGR during the forecast period.
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Based on end user, in 2024, the healthcare provider
segment is expected to account for the larger share of the global
healthcare cloud computing market. The large market share of this
segment is attributed to the growing need to exchange patient
information between healthcare providers, the rising adoption of
clinical information systems among healthcare providers, and the
increasing adoption of telemedicine and remote patient
monitoring solutions among healthcare providers.
However, the healthcare payers segment is expected to register
the highest CAGR during the forecast period due to the growing
popularity of cloud-based collaboration tools and communication
platforms and the rising adoption of cloud computing solutions for
fraud detection and prevention.
Based on geography, in 2024, North America is expected to account for the
largest share of 37.4% of the healthcare cloud computing
market. The North America
healthcare cloud computing market is estimated to be worth
USD 15 Billion in 2024.
North America's significant market
share can be attributed to the surge in demand for telemedicine and
remote patient monitoring solutions, the high adoption rate of
digital technologies and advanced healthcare systems, and the
proliferation of cloud based EHR systems.
However, Asia-Pacific
healthcare cloud computing market is projected to register the
highest CAGR during the forecast period. The growth of this
regional market can be attributed to government initiatives and
policies that support the adoption of healthcare cloud computing
solutions and the growing popularity of telemedicine and telehealth
platforms across the region.
The key players operating in the healthcare cloud computing
market are Amazon Web Services, Inc (U.S.) (a subsidiary
of Amazon.com, Inc.), Microsoft Corporation (U.S.), IBM Corporation
(U.S.), Google LLC (U.S.), Alibaba Group Holding Limited
(China), Oracle Corporation
(U.S.), IRON MOUNTAIN INCORPORATED (U.S.), AT & T Inc. (U.S.),
NVIDIA Corporation (U.S.), GE HealthCare Technologies Inc. (a
subsidiary of General Electric Company) (U.S.), OSP (U.S.), Zymr
Inc. (U.S.), athenahealth, Inc. (U.S.), eClinicalWorks, LLC (U.S.),
and e-Zest Solutions Inc. (U.S.).
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Scope of the Report:
Healthcare Cloud Computing Market Assessment—by
Offering
- Solutions
- Clinical Information Systems
- Electronic Health Record Systems
- Laboratory Information System
- Telemedicine and Telehealth Platforms
- Radiology Information System
- Remote Patient Monitoring Systems
- Clinical Decision Support Systems
- Other Clinical Information Systems
- Non-clinical Information Systems
- Practice Management Solutions
- Revenue Cycle Management Solutions
- Supply Chain Management Solutions
- Human Resources Management Solutions
- Other Non-clinical Information Solutions
- Healthcare Operation Management Solutions
- Customer Relationship Management Solutions
- Claims Management Solutions
- Fraud Management Solutions
- Network Management Solutions
- Other Healthcare Operation Management Solutions
- Services
- Professional Services
- Managed Services
Healthcare Cloud Computing Market Assessment—by
Service Model
- Software-as-a-Service
- Infrastructure-as-a-Service
- Business Process-as-a-Service
- Platform-as-a-Service
Healthcare Cloud Computing Market Assessment—by
Deployment Mode
- Public Cloud
- Private Cloud
- Hybrid Cloud
Healthcare Cloud Computing Market Assessment—by End
User
- Healthcare Providers
- Healthcare Payers
Healthcare Cloud Computing Market Assessment—by
Geography
- North America
- Asia-Pacific
- China
- Japan
- India
- Singapore
- South Korea
- Rest of Asia-Pacific
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Latin America
- Middle East & Africa
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