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 Component (Services {Software as a Service [SaaS], Infrastructure as a Service [IaaS], Platform as a Service [PaaS]}, Software), By Deployment (Public Cloud, Private Cloud), End-use (Hospitals, Pharmacies, Diagnostic & Imaging Centers, Ambulatory Centers, Private Payers, Public Payers) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Apr 2019  |  Report ID: GMI242  |  Authors: Sumant Ugalmugale

Report Format: PDF   |   Pages: 175   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Healthcare Cloud Computing Market Size was valued at USD 20 billion in 2018 and is expected to witness over 15% CAGR from 2019 to 2025.
 

U.S. Healthcare Cloud Computing Market Size, By Application, 2018 & 2025 (USD Million)

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Growing adoption of cloud computing software by healthcare professionals is expected to drive industry growth in upcoming years. Recently developed cloud computing software have been extensively utilized in hospitals and laboratories to manage patient data efficiently. Every year huge clinical as well as administrative data is generated from hospitals and laboratories that requires appropriate software for analysis and maintenance. Such requirement will boost healthcare cloud computing market growth over the forecast timeline. Key industry players have introduced software and services that allows to store and integrate enormous healthcare data that proves beneficial for industry growth. Additionally, such software also provide easy access to patient data that helps healthcare professionals to make accurate decisions. Besides above-mentioned factors, adoption of cloud computing software is high as it improves hospital administration and enables fraud prevention that should augment healthcare cloud computing industry growth.
 

Favourable regulatory scenario ensuring superior quality of healthcare cloud computing software should surge industry growth in near future. Regional regulatory authorities such as the U.S. FDA and EU Commission frame several laws and guidelines that helps in minimizing the defects in software and systems developed by key industry players. Approval for marketing healthcare cloud computing software is essential as it may cause errors in data management leading to serious events. Therefore, companies operational in healthcare cloud computing industry comply to the regulations to maintain accuracy and quality of software that proves beneficial for business growth. However, data processed through software is vulnerable to theft and thus, data security issues may affect industry growth to some extent.
 

Healthcare Cloud Computing Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 20 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 15% 2025 Value Projection: 55 Billion (USD)
Pages: 175 Tables, Charts & Figures: 148
Geographies covered (19): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Application, Component, Deployment, End-use and Region
Companies covered (11): Cisco, Amazon, Allscript, PLEXIS Healthcare Systems, Carecloud, Siemens, Oracle, ClearData Networks Inc, Cerner Corporation, Microsoft, Dell,
Growth Drivers:
  • Growing adoption of cloud computing software by healthcare professionals
  • Increasing awareness regarding availability of technologically upgraded healthcare cloud computing software in developed economies
  • Favorable regulatory scenario
  • Rising government initiatives that support data safety and integrity
Pitfalls & Challenges:
  • Data safety concerns associated with the cloud computing software

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Healthcare Cloud Computing Market, By Application

Clinical information systems segment was valued over USD 12 billion in 2018 due to its increasing demand for maintaining raw data generated from doctors and physicians. This data includes prescriptions, notes made by pharmacists, doctors and physicians. Since, enormous clinical data is produced annually, there has been a drastic increase in the demand for health information system and laboratory information management system that should positively influence segmental growth.
 

Non-clinical segment is expected to witness around 15% growth throughout the analysis timeframe. Administrative data generated by hospitals is difficult to manage and management systems are required that helps in integrating data thereby, fosters segment growth. Also, insurance payers and other healthcare providers adopt revenue cycle management systems to track patient payment details and revenue generated through reimbursement policies.
 

Healthcare Cloud Computing Market, By Deployment

Public cloud computing segment was valued more than 10 billion in 2018 and is expected to have similar growth trends throughout forecast timeframe. Public cloud is generally operated and owned by healthcare organizations maintaining data that is accessible to patients and customers buying medical policies. Recently developed computing solution can be integrated within mobile devices so that patients become aware regarding appointment scheduling.   Therefore, public cloud computing is mostly preferred by hospitals that have huge number of appointments every day.
 

Private cloud computing segment will grow around 15.7% during the analysis period. Private cloud computing software is usually owned and controlled by a single organization. Healthcare providers adopt private cloud computing solutions as it gives better control over infrastructure, cloud customers and computational resources than public cloud.
 

Germany Healthcare Cloud Computing Market Size, By Deployment, 2018 (USD Million)
Germany Healthcare Cloud Computing Market Size, By Deployment, 2018 (USD Million)

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Healthcare Cloud Computing Market, By Component

Software segment accounted for more than 23% revenue share in 2018 and is anticipated to have significant growth in future. Technologically upgraded healthcare cloud computing software are better capable of managing patient data. Raw data collected on the cloud is sorted and integrated that helps the healthcare providers to make accurate decisions. Also, currently utilized software are more reliable that enhances its adoption among the healthcare providers thereby, augmenting the segmental growth.
 

Services segment will grow over 15% throughout the forecast period and considerable segmental growth can be attributed to superior quality services ensuring efficient data management. Several cloud computing services such as SaaS offer healthcare organizations on-demand services. It also provides quick access to business applications. Additionally, such services enhance customer relationship management that boosts its adoption amongst healthcare providers thus, propelling business growth in near future.         
 

Healthcare Cloud Computing Market, By End-use

Hospitals segment was valued more than USD 4.5 billion in 2018 and considerable growth in revenue size can be associated with its escalating usage in maintain patient data. Increasing number of hospital admissions has positively impacted demand for cloud computing software in hospitals. Currently utilized software are highly efficient and can safeguard accumulated data. Thus, growing inclination of medical practitioners towards healthcare cloud computing software and services should surge the business growth in forthcoming years.
 

Pharmacies segment will witness around 15.7% CAGR during forecast timeframe due to increasing demand for healthcare cloud computing in maintaining the data produced from medical prescriptions. Also, pharmacists choose data management solutions to track historical data of payment and drugs sold to patients. Due to availability of technologically upgraded solutions, pharmacies highly rely on this software.
 

Healthcare Cloud Computing Market, By Region

North America healthcare cloud computing market was valued over USD 8.5 billion in 2018 and will witness similar trend over the forecast period. Continuous technological advancements in the healthcare cloud computing solution has increased its adoption amongst the healthcare providers. Moreover, supportive regulatory scenario favours the regional growth as it ensures availability of efficient and upgraded software.
 

Europe cloud computing market for healthcare sector will witness around 15.5% growth over the forecast period owing to increasing awareness regarding availability of superior quality healthcare cloud computing solutions. Furthermore, growing geriatric population susceptible to several diseases increases the number of hospital admissions that should spur the demand for healthcare cloud computing software in this region.

Asia Pacific Healthcare Cloud Computing Market Size, By Country, 2025 (USD Million)
Asia Pacific Healthcare Cloud Computing Market Size, By Country, 2025 (USD Million)

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Competitive Market Share

Few major industry players include Cisco, Carestream Health, Athenahealth, IBM, EMC, Oracle, Carecloud, Cleardata, GNAX Health and Merge Healthcare. These players implement several strategic initiatives such as mergers, acquisition and new product launch to maintain their market position. For instance, in November 2014, Cisco introduced Cisco Service Exchange Platform (SXP) for radiology. Thus, introduction of new software will positively impact company’s growth.
 

Healthcare Cloud Computing Industry Background

Healthcare cloud computing history can be traced back to late 1960’s that witnessed introduction of intergalactic computer network. This was the first basic platform that facilitated data sharing. Before several transformations, cloud computing included server computing that acted as a centralized storage platform. Earlier cloud computing was utilized only for administrative purposes later as the technology evolved; cloud computing found applications in healthcare sector. As technology advanced, in early 2000’s companies such as IBM and Google started investing to developed platforms such as SaaS and PaaS that drastically altered the way of managing healthcare data generated from hospitals and other healthcare facilities. Upgradations in technology has enabled innovations in the recently developed cloud computing software thereby, enhancing users experience. Currently, key industry players continuously try to integrate new features within software that helps them in sustain the intense competition.
 


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