Healthcare Cloud Computing Market Size By Application (Clinical Information Systems {Health Information System, Telehealth, Picture Archiving & Communication System [PACS], Pharmacy Information Systems, Laboratory Information Management System, Radiology Information Systems, Computerized Physician Order Entry, Ambulatory or Outpatient CIS}, Nonclinical Information Systems {Revenue Cycle Management, Supply Chain Management Solutions}), By Service Model (Software as a Service [SaaS], Infrastructure as a Service [IaaS], Platform as a Service [PaaS]), By Deployment (Public Cloud, Private Cloud), By End-Use (Hospitals, Pharmacies, Diagnostic & Imaging Centers, Ambulatory Centers, Private Payers, Public Payers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Jan 2021  |  Report ID: GMI242  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 279   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry trends

Healthcare Cloud Computing Market size was valued over USD 29 billion in 2020 and is expected to witness around 13.4% CAGR from 2021 to 2027. Rising adoption of digital technologies among healthcare professionals is projected to drive the market growth. Escalating patient population suffering through various diseases leads to higher demand for efficient data management tools. Healthcare cloud computing offers easy access to patient information through secured networks, thus eliminating the data privacy concerns.  Therefore, increasing acceptance of these technologies encourages safer data sharing and remote collaborations enabling broader treatment accessibility. Similarly, shift of healthcare industry toward information-centric model enables efficient information sharing and streamlined collaborative workflows. Benefits such as IoT support, data automation and storage that streamline treatment process creates tremendous growth opportunities for cloud computing solutions in healthcare market.
 

The recent COVID-19 outbreak has positively impacted the market value owing to higher usage of digital platform in healthcare business along with government support. Numerous applications in patient data management related to COVID-19 and integration of cloud computing services in healthcare industry has continued to fuel the market expansion during the pandemic.
 

Surged preference and adoption for healthcare cloud computing will intensify the market demand

The growing acceptance of cloud computing among healthcare professionals is due to several attributes including ease of interoperability, access to high powered analytics, patient’s ownership of data, telemedicine capabilities, and lowering of costs among others. Healthcare cloud computing has proven to be beneficial for both patients and healthcare professionals that secures the market revenue. From conventional storage to digitalization of healthcare data, the healthcare market has seen a massive shift in the generation, storage, consumption, and sharing of healthcare data. The widespread usage of healthcare cloud computing has propelled healthcare providers to utilize this technology for optimizing workflows, gaining efficiencies, and providing personalized care plans to enhance outcomes.
 

Increasing demand for clinical information systems will spur the healthcare cloud computing market value

The clinical information systems segment will showcase growth rate of 13% till 2027 led by rising demand for advanced tools in digitization of clinical functions data management among healthcare organizations in healthcare facilities. In addition, surging focus on digitalization of healthcare industry and growing adoption of technology to store as well as integrate enormous healthcare data will impel the industry growth over the forecast period.
 

Growing acceptance of digital health services will offer significant the market expansion opportunities 

Software as a service (SaaS) segment accounted for more than USD 21 billion in 2020 propelled by rising digital health services provided by various vendors. Increasing usage of wearable devices, big data analytics and Internet of Things are some of the attributes that will augment segment growth. Furthermore, factors such as faster deployment rate, lower cost of ownership, security, among others are accountable aspects for the overall market progression. 
 

Unique features of private cloud will boost the industry progression

The private cloud segment in the healthcare cloud computing market is estimated to attain a CAGR of 13.5% through 2027. Private cloud enables direct control over stored data in cloud to healthcare staff, thus allowing them to deploy own applications and also provides adherence to compliance issues. Also, various factors such as better control on computation, patient data and infrastructure further stimulate the market revenue. Developing IT infrastructure in emerging countries, and rising necessity to implement healthcare IT tools in healthcare settings will positively impact the market value.
 

Rising hospital admissions will favor the overall industry expansion

Global Healthcare Cloud Computing Market

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The hospital end-use segment will account for 22% of healthcare cloud computing market share by 2027. Growing number of hospital admissions, adoption of technologically advanced products and sophisticated healthcare infrastructure are some of the factors favouring the market demand. Moreover, hospitals are the early adopters amongst all the organizations. Large-scale operations, multi-functionality, management of large amount of information and cost-cutting are foremost aspects leading to high acceptance of healthcare IT solutions in hospitals globally. 
 

Increasing COVID-19 cases in North America region will accelerate the market growth for healthcare cloud computing

North America Healthcare Cloud Computing Market

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North America healthcare cloud computing market size was around USD 12 billion in 2020 due to gathering of large volume of patient data owing to rising number of disease burden. Additionally, presence of eminent market players operating in healthcare cloud computing in North America and favourable regulatory scenario further proves advantageous for the market expansion. The COVID-19 pandemic across the region has increased the patient pool that has further led to upsurge in virtual care and telehealth delivery options.
 

Product launches by eminent industry leaders have helped them maintain a strong position in the market

Some of the prominent companies operating in the healthcare cloud computing market include Cisco Systems, Amazon, Allscripts Healthcare Solutions, PLEXIS Healthcare Systems, CareCloud, Siemens Healthineers, Oracle, ClearDATA, Cerner, Microsoft and Dell. These industry participants operating in healthcare cloud computing are undertaking different growth strategies to sustain the market position.  
 

Some of the recent industry developments:

  • In January 2020, CareCloud was acquired by MTBC Inc, a healthcare IT company.  This acquisition offered its customers several ways to improve patient outcomes, increase practice profitability and streamline physician workflows. This strategy helped the company in attracting larger customer base.
     
  • In April 2019, Healthcare providers worldwide adopted Cisco ACI as their prescription for IT Excellence. This development has assisted in organization’s business growth.
     

The healthcare cloud computing market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Application, 2016-2027 (USD Million)

  • Clinical information systems
    • Health information system
    • Telehealth
    • Picture archiving & communication system (PACS)
    • Pharmacy information systems
    • Laboratory information management system
    • Radiology information systems
    • Computerized physician order entry (CPOE)
    • Ambulatory or outpatient CIS
    • Others
  • Nonclinical information systems
    • Revenue cycle management
    • Supply chain management solutions
    • Others

Market, By Service Model, 2016-2027 (USD Million)

  • Software as a Service (SaaS)
  • Infrastructure as a Service (IaaS)
  • Platform as a Service (PaaS)

Market, By Deployment, 2016-2027 (USD Million)

  • Public cloud
  • Private cloud
  • Others

Market, By End-use, 2016-2027 (USD Million)

  • Hospitals
  • Pharmacies
  • Diagnostic and imaging centers
  • Ambulatory centers
  • Private payers
  • Public payers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

The global market for healthcare cloud computing had reached USD 29 billion in 2020 and is anticipated to register a CAGR of around 13.4% up to 2027.
The industry share from clinical information systems is expected to record about 13% CAGR between 2021-2027 with increased trends for digitization at healthcare facilities.
The market share of SaaS segment had reached USD 21 billion during 2020 owing to increased preference for digital health services, big data, wearables and IoT.
The industry share from private cloud deployment segment is projected to record around 13.5% CAGR through 2027 with the ability to directly control stored data and deploy own applications.
The North America market size was over USD 12 billion during 2020 and will expand owing to a strong presence of major players and high volume of patient data.

Premium Report Details

  • Published Date: Jan 2021
  • Pages: 279
  • Tables: 365
  • Charts / Figures: 18
  • Companies covered: 11
  • Countries covered: 19

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