Report Id: SNS/ICT/2205 | July 2022 | Region: Global | 130 Pages
Report Scope & Overview:
The Healthcare Cloud Computing market size was valued at USD 14.30 Bn in 2021 and is expected to reach USD 32.23 Bn by 2028, and grow at a CAGR of 12.31% over the forecast period 2022-2028.
Healthcare cloud computing refers to the use of cloud computing services and infrastructure to store, keep, and retrieve personal health information. The healthcare business has benefited from cloud computing by offering a platform for on-demand hosted services, on-demand computation, massive storage, and a range of other services. It has improved access to information and data for administrators, nurses, and physicians.
The practice of storing, maintaining, and processing data using remote servers rather than local servers or networks is referred to as cloud computing. As a result, cloud computing relocates data center infrastructure outside of the corporate firewall. The rising availability of sophisticated technologies such as machine learning, as well as the increased usage of information technology in the healthcare sector, are all driving the expansion of the healthcare cloud computing industry.
The adoption of big data analytics, wearable devices, and IoT in healthcare is increasing.
Cloud computing provides improved data storage, flexibility, scalability, and collaboration.
Increased cloud adoption in the healthcare business.
The proliferation of new payment options and the cost-effectiveness of cloud computing.
Concerns about data security and privacy are growing.
The rules regulating cloud data centers are becoming increasingly complicated.
heightened IT infrastructure restrictions.
Telecloud and telehealth consultations are becoming more popular.
Blockchain use in health cloud.
Reduced connection and accessibility.
Establishment of accountable care organizations.
Increasing interoperability and portability concerns.
Technical competence in emerging geographies is limited.
IMPACT OF COVID-19:
On an unprecedented scale, the COVID-19 pandemic has upended many lives and institutions. In any case, if there is one industry that has benefited the most from this event, it is the distributed computing business. While many firms believe it is difficult to function as planned, organizations that have chosen the Cloud Computing basis are performing wonderfully. Because of its adaptability, cloud computing facilitates trouble-free data storage and replenishment and enables one to downsize on hectic days. Furthermore, the social removal measures have forced patients with few side effects to choose the distant discussion. Instead of this pandemic, the expansion of Healthcare Cloud Computing Market share will most likely expand amazingly throughout the predicted term, with numerous medical care providers providing advice via video conferencing and calls.
Because of the widespread implementation of this model in clinical settings, the Software as a Service (SaaS) category will account for the largest revenue share in 2021. SaaS services range from inventory management to web-based email and database processing. The service provider essentially possesses both data and application, and the end-user may utilize the service at any time and from any location. Because of its benefits, the infrastructure-as-a-Service (IaaS) model is expected to post a profitable CAGR throughout the projected period. It facilitates cloud application development and deployment.
Based on the ownership, size, type, and purpose, the deployment model is classified as private, hybrid, or public. The private model, often known as the "Internal Cloud," is a protected platform to which only authorized users to have access. This approach is very secure and within the organization's control. As a result, this sector will account for the majority of sales in 2021. The hybrid cloud is a combination of public and private cloud deployment models. This market is likely to increase significantly. One of the important reasons for underlining storage requirements in the healthcare business is the growing demand for cloud servers, particularly hybrid and multi-cloud services when compared to on-premise servers.
Non-clinical information systems will account for a significant portion of the application segment's revenue in 2021, owing to increased adoption of cloud computing services for a variety of applications such as revenue cycle management, healthcare information exchange, fraud management, supply chain management, billing & accounts management, and financial management. Due to increased demand for applications such as electronic medical records, telemedicine, laboratory information systems, and so on, the clinical information systems market is predicted to rise significantly throughout the forecast period. These systems handle the data acquired by healthcare practitioners via Electronic Health Records, radio imaging, insurance claims, pharmacy sales, prescriptions, lab tests, wearables, and IoT-enabled devices. The data assists stakeholders such as hospitals, laboratories, and businesses in generating relevant insights.
In 2021, healthcare providers dominated the market. The growing number of cloud-based healthcare connections has boosted demand for the SaaS model. The benefits of these systems, such as off-site data storage to conserve space and outsourcing of IT solutions from hosting suppliers, are projected to drive market demand throughout the projection period. Because cloud computing offers flexibility, scalability, and increased data storage, the providers’ sector is predicted to grow at the quickest CAGR in the forecast years. Because of technological advancements, pharmacists may now select data management systems to track past data connected to payments and pharmaceuticals dispensed to patients.
KEY MARKET SEGMENTS:
Infrastructure as a service
Platform as a service
Software as a service
Clinical Information System
Computerized Physician Order Entry
Electronic Medical Records
Radiology Information System
Pharmacy Information System
Non-clinical Information System
Automatic Patient Billing
Revenue Cycle Management
By Cloud deployment model
Virtual Private Cloud
North America will have the highest share of the healthcare cloud computing market in 2021. Technological improvements, EHR incentive programs by Medicaid and Medicare, and high healthcare spending all contribute to the region's growth. Furthermore, the Asia Pacific area will be the fastest expanding region in the healthcare cloud computing market throughout the projection period. Factors such as rising acceptance of digital health solutions in Asia, modernization of Chinese healthcare infrastructure, and India's fast-developing healthcare business are driving this rise.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are Amazon Web Services, Inc., Microsoft Corporation, International Business Machines Corporation, and athenahealth. Inc., CareCloud, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Allscripts Healthcare Solutions, Inc., NTT DATA Corporation
|Market Size in 2021||US$ 14.30 Bn Bn|
|Market Size by 2028||US$ 32.23 Bn Bn|
|CAGR||CAGR of 12.31% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Service (Infrastructure as a service, Platform as a service, Software as a service)
• By Application (Clinical Information System and Non-clinical Information System)
• By Cloud deployment model (Public, Private, Virtual Private Cloud)
• By End-users (Healthcare providers and Healthcare payers)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Amazon Web Services, Inc., Microsoft Corporation, International Business Machines Corporation, and athenahealth. Inc., CareCloud, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Allscripts Healthcare Solutions, Inc., NTT DATA Corporation|
|Key Drivers||• The adoption of big data analytics, wearable devices, and IoT in healthcare is increasing.
• Cloud computing provides improved data storage, flexibility, scalability, and collaboration.
|Challenges||• Increasing interoperability and portability concerns
• Technical competence in emerging geographies is limited
Frequently Asked Questions (FAQ) :
Ans: - The forecast period of the Healthcare Cloud Computing market is 2022-2028.
Ans: - Increasing interoperability and portability concerns and technical competence in emerging geographies is limited.
Ans: - The segments covered in the Healthcare Cloud Computing Market report for study are on the basis of Service, Application, Cloud deployment model, and End-users.
Ans: - North America will have the highest share of the healthcare cloud computing market in 2021.
Ans: - The major key players are Amazon Web Services, Inc., Microsoft Corporation, International Business Machines Corporation, and athenahealth. Inc., CareCloud, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Allscripts Healthcare Solutions, Inc., NTT DATA Corporation.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Cloud Computing Market Segmentation, by Service
8.1 Infrastructure as a service
8.2 Platform as a service
8.3 Software as a service
9. Healthcare Cloud Computing Market Segmentation, by Application
9.1 Clinical Information System
9.1.1 Computerized Physician Order Entry
9.1.2 Electronic Medical Records
9.1.3 Radiology Information System
9.1.4 Pharmacy Information System
9.2 Non-Clinical Information System
9.1.1 Automatic Patient Billing
9.1.2 Revenue Cycle Management
9.1.3 Claims Management
10. Healthcare Cloud Computing Market Segmentation, by Cloud deployment model
10.3 Virtual Private Cloud
11. Healthcare Cloud Computing Market Segmentation, by End-users
11.1 Healthcare providers
11.2 Healthcare payers
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Amazon Web Services, Inc.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Microsoft Corporation
13.3 International Business Machines Corporation
13.4 athenahealth. Inc.
13.5 CareCloud, Inc.
13.6 Siemens Healthineers AG
13.8 Koninklijke Philips N.V.
13.9 Allscripts Healthcare Solutions, Inc.
13.10 NTT DATA Corporation
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
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