Healthcare Cloud Computing Market Size, Share & Trends Analysis By Product, By Deployment, By Component, By Pricing, By Service, By End-user, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Healthcare Cloud Computing Market Size, Share & Trends Analysis By Product, By Deployment, By Component, By Pricing, By Service, By End-user, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global Healthcare Cloud Computing Market is projected to be worth USD 127.40 billion by 2030.

According to SPER Market Research, the Healthcare Cloud Computing Market is estimated to reach USD 127.40 billion by 2030 with a CAGR of 15.8%. The increasing number of healthcare IT solutions and the rising number of connected devices and sensors are some of the factors that are driving the growth of the cloud computing market. The market is also expected to be driven by the increasing number of cloud-based solutions and the rising number of health benefit plan designs.

Impact of COVID-19 on the Healthcare Cloud Computing Market

Over the past few months, the COVID-19 pandemic has upended many lives and businesses on an unprecedented scale. However, if there is one sector that has emerged stronger from this event, it would be the cloud computing industry. Especially in the healthcare industry, where data serves as the primary asset today, storage and management of data is cost-prohibitive, thereby increasing the additional expenditures related to the requirement of expensive servers. In such cases, cloud computing assists in hassle-free data storage and backup because of its scalability. Further, it greatly reduces the burden on hospitals experiencing high numbers of COVID-19 patients. The pandemic has led to major resource constraints. This will lead to the development of alternate pricing models and value-based pricing.

Scope of the report:

Report Metric Details
Market size available for years 2019-2030
Base year considered 2021
Forecast period 2022-2030

Segments covered By Product, By Deployment, By Component, By Pricing, By Service, By End-user

Geographies covered North America, Europe, Asia Pacific, Latin America, Middle East, Africa

Companies Covered Allscripts Healthcare Solutions, Inc., Amazon Web Services, Inc., Athenahealth, Inc., CareCloud, Inc., ClearDATA Networks, Inc., Dell Technologies, Inc., DXC Technologies, eClinical Works, EnSoftek, Inc., Fujifilm Holdings Corporations, GE Healthcare, Global Net Access, Hyland Software, Inc., INFINITT Healthcare, Co. Ltd., International Business Machines Corporations, Iron Mountain, Inc., Koninklijke Philips N.V., Microsoft Corporations, Nextgen Healthcare, Inc., NTT DATA Corporation, Oracle Corporation, Salesforce, Inc., Sectra AB, Siemens Healthineers AG, VEPRO eHealth Solutions, VMware, Inc.

Driver: Due to Covid-19, there is a growing usage of EHR, e-prescribing, telemedicine, mHealth, and other healthcare IT systems.

Globally, the prevalence of chronic diseases such as cancer, cardiovascular disease and diabetes has increased significantly in recent decades. The COVID19 pandemic has resulted in a significant increase in the burden on healthcare organizations across the globe.

Restraint: Concerns about data security and privacy are on the rise.

The main problem with cloud solutions is that the data hosted by the provider is not as secure as the data stored locally. With the increasing volume of patient data and the growing digital transformation initiatives in healthcare, data security and privacy concerns are rapidly increasing. In addition, patients themselves are concerned about data security and must comply with data protection security standards. Private clouds provide more secure access protocols and systems, but the healthcare industry is still skeptical of private cloud data security.

Opportunity: Tele cloud and telehealth consultations are becoming more common.

The integration of wireless technology and the cloud has proven to be a very powerful mechanism for providing patient care in remote locations. Clinicians have focused on remote monitoring of affected patients due to the pandemic of COVID 19 and the contagious nature of the disease. Despite proper protection and care, more and more doctors are infected with a pandemic, at the expense of physical support. Therefore, telemedicine, including remote patient monitoring and interactive drug use, is expected to become more important in the coming years.

Challenges: The issue of interoperability and portability is becoming increasingly important.

As data is migrated from hospitals to the cloud, it is stored on systems and platforms managed by service providers, which can lead to certain interoperability issues. Lack of standardization between cloud service providers limits data sharing between different cloud tools, leading to portability issues. In 2019, Cerner announced the launch of a cognitive health platform to solve interoperability issues by eliminating the need for manual procedures.

Healthcare Cloud Computing Market, By Product:

Based on the Product, Global Healthcare Cloud Computing Market is segment as: Healthcare provider solutions [Clinical Information Systems {Electronic Health Records/ Electronic Medical Records EHR/EMR (EHR/EMR to dominate clinical information systems market)}, {Picture archiving & communication systems and vendor-neutral archives (PACS AND VNA (Growing image generation alongside need for scalability and easy haring to drive PACS and VNA demand)}, {Population health management solutions (Rising prevalence of chronic diseases and need to reduce healthcare costs to drive PHM adoption)}, {Telehealth solutions (Shortage of health professionals to drive market growth)}, {Radiology information systems RIS (RIS uses a cloud solution to help convert radiology to a virtual solution)}, {Laboratory information systems (High flexibility, interoperability, scalability, and cost-efficiency of cloud-based LIS to drive market demand)}, {Pharmacy information systems (Rising demand for automatic refills and the growing popularity of e-prescriptions to drive PIS use)}, {Other clinical information systems)}], [Non-Clinical Information Systems {Revenue cycle management RCM solutions (RCM solutions hold largest share of nonclinical information systems market)}, {Financial management solutions (Cloud-based financial solutions to streamline and automate labour-intensive healthcare financial management functions)}, {Health information exchange HIE solutions (Need for timely sharing of vital patient information to drive HIE demand)}, {Supply chain management solutions (Supply chain management solutions to help reduce operational and administrative expenses)}, {Billing & accounts management solutions (Implementing cloud-based billing to reduce expenses, increase revenue, and improve customer service)}, {Other nonclinical information systems}, [Healthcare Payer Solutions{Claims Management Solution (Claims management solutions to help healthcare payers efficiently manage claims processing), {Payment Management Solution (Payment management solutions connect payers, providers, members, and banks on a single integrated network)}, {Customer Relationship Management CRM solutions (Healthcare payers to create CRM strategies to meet unique needs of their stakeholders)},{Provider Network Management PRM solutions (PRM solutions to offer reliable and secure connection between provider-payer community)}, {Fraud Management Solutions (Rising cases of insurance fraud to drive market growth)}].

Healthcare Cloud Computing Market, By Component:

Based on the Component, Global Healthcare Cloud Computing Market is segment as: Services (Demand for consulting services to grow in developing regions), Software (Rising healthcare costs drive software adoption).

Healthcare Cloud Computing Market, By Deployment:

Based on the Deployment, Global Healthcare Cloud Computing Market is segment as: Private cloud (Private cloud segment to account for largest share of market), Hybrid cloud (Hybrid cloud segment to register highest growth), Public cloud.

Healthcare Cloud Computing Market, By Service:

Based on the Service, Global Healthcare Cloud Computing Market is segment as: Software-as-a-service (Software-as-a-service segment to dominate healthcare cloud computing market, Benefits of software-as-a-service), Infrastructure-as-a-service ( Infrastructure-as-a-service segment to register highest growth during forecast period), Benefits of infrastructure-as-a-service, Platform-as-a-service ( Platform-as-a-service simplifies application development and deployment on cloud, Benefits of platform-as-a-service).

Healthcare Cloud Computing Market, By Pricing:

Based on the Pricing, Global Healthcare Cloud Computing Market is segment as: Pay-as-you-go pricing (Pay-as-you-go-pricing model segment to account for largest share during forecast period), Spot pricing (Spot pricing model offers flexibility and unlimited utilization of services).

Healthcare Cloud Computing Market, By End-user:

Based on the End-user, Global Healthcare Cloud Computing Market is segment as: Healthcare providers (Healthcare providers use cloud based EMRs to reduce costs, enhance privacy and facilitate better patient care), Healthcare payers (Cloud computing enables payers to accelerate their medical claims processing tasks, enhance customer care and improve documentation activities).

Healthcare Cloud Computing Market, By Region:

North America accounted for the largest share of the healthcare cloud computing market. Factors like technological advancements, EHR incentive programs by Medicaid & Medicare, and high healthcare expenditure contribute to the growth of this region.