Healthcare Cloud Computing Market Size, Global Sector / Industry Report & Analysis, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Healthcare Cloud Computing Market


The global Healthcare Cloud Computing market size is projected to reach US$ 24.65 billion by 2026, from US$ 12.62 billion in 2020, at a CAGR of 11.8% during 2021-2026. Growing demand for integrated information systems majorly due to increase in prevalence of chronic diseases and aging population are key drivers for this market.
The growing demand-supply gap in the healthcare industry has led to increased need for IT, boosting the adoption of cloud computing in this industry. The rising demand for cloud-based information systems is expected to boost the market. Moreover, technologically advanced healthcare infrastructure, especially the hospitals in developed economies, is one of the key factors impelling market demand. With rising population and volume of patient information, integration of data and having real-time access have become the need of the hour. Increase in investments by several private and public organizations in healthcare IT infrastructure is also one of the factors expected to positively impact growth in the near future.

For instance, the University of Pittsburgh Medical Center (UPMC) in the last quarter of 2017 invested USD 2.0 billion to transform its hospitals digitally across all its locations. UPMC is focused on its three digital specialty hospitals, namely, UPMC Hillman Cancer Hospital, UPMC Vision and Rehabilitation Hospital, and UPMC Heart and Transplant Hospital. UPMC has also announced that it will work with Microsoft to enhance digital hospitals.
Recent advancements in field are telemedicine technologies such as teleradiology, video/audio conferencing, and telesurgery. These services not only allow patients to get clinical treatment without going to healthcare professionals, but also help medical specialists share opinions & consult others on complex cases.

Furthermore, digital medical libraries offer a variety of services, such as query languages, library management systems, and indexing service, which enables physicians improve their practice. Management information system is used to manage finance, billing, & human resource. Rising trend of opting for advanced technology for decision-making & forecasting is further anticipated to provide lucrative growth opportunities to this market in the near future.

Market Segmentation, Outlook & Viewpoint: Global Healthcare Cloud Computing Market

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

Clinical Information Systems

  
Electronic Medical Records
  
PACS, VNA, and Image Sharing Solutions
  
Population Health Management
  
Telehealth
  
Laboratory Information Management Systems
  
Pharmacy Information Systems
  
Radiology Information Systems
  
Other CIS

Non-Clinical Information Systems

  
Revenue Cycle Management
  
Billing and Accounts Management
  
Financial Management
  
Healthcare Information Exchange
  
Fraud Management
  
Supply Chain Management
  
Other NCIS

Deployment Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Private cloud
  
Hybrid cloud
  
Public cloud

Service Model Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Software-as-a-service
  
Infrastructure-as-a-service
  
Platform-as-a-service

Pricing Model Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Pay-as-you-go
  
Spot Pricing

End-use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Healthcare Providers
  
Healthcare Payers

Key Players, Recent Developments & Regional Insights: Global Healthcare Cloud Computing Market

Non-clinical information system accounted for a major revenue share of the application segment in 2018, owing to the higher penetration of cloud computing services for various applications including revenue cycle management, healthcare information exchange, fraud management, supply chain management, billing & accounts management, and financial management.

The clinical information systems are expected to witness lucrative growth over the forecast period, owing to increasing demand for applications, such as electronic medical records, telehealth, laboratory information systems, etc. Increasing prevalence of chronic diseases creates the need for storage of a large amount of clinical information data. This has resulted in high demand for clinical information systems by medical professionals.

The data collected by healthcare providers through Electronic Health Records (EHRs), radio images, insurance claims, pharmacy sales, prescriptions, lab tests, wearables, and IoT-enabled devices is managed through these systems. The data helps stakeholders, like hospitals, laboratories, and companies generate meaningful insights. Cloud computing in hospital and laboratories helps in reducing the cost associated with IT infrastructure. Aforementioned factors are anticipated to boost demand in the coming years.

Deployment Model Insights

Deployment model is categorized into private, hybrid, and public, based on the proprietorship, size, nature, and purpose. Private model, also is known as Internal Cloud, is a secured platform that only provides access to authorized users. This model is highly secured and controlled by the organization. Hence, this segment is accounted for the largest revenue share as of 2018. Public model is a cloud hosting platform that provides clients access to systems and services. Companies like Amazon, Microsoft, IBM, etc., provide these type of services.

Hybrid cloud is an integration of public and private deployment model. This segment is expected to witness lucrative growth. Growing demand for cloud servers, including hybrid and multicloud services, when compared to on-premise servers in the healthcare industry, is one of the key factors highlighting storage requirement in this industry. As per various industry reports, in 2018, nearly half of the major enterprises had some form of hybrid cloud deployment.
Service Model Insights

Software as a Service (SaaS) segment accounted for over 45.00% revenue share in 2018 due to high adoption of this model in clinical settings. SaaS includes services ranging from inventory control to web-based email and database processing. The service provider basically has both data & application and the end user can use the service anywhere, anytime.

The infrastructure-as-a-Service (IaaS) model is anticipated to register lucrative CAGR over the forecast period due to its benefits. It helps simplify application development and deployment on the cloud.
Pricing Model Insights

The pay-as-you-go and spot pricing are the two pricing models. Pay-as-you go model is usually connected with SaaS provider. Pay-as-you-go app provides the latest software solutions at minimum cost. These benefits of using pay-as-you-go can be attributed to its lucrative growth over the forecast period.

Spot pricing is considered as a remarkable supplement for other pricing model. It is different from the forward or future price methods, as it is based on buying and selling of assets for immediate payment and delivery. Moreover, the study of SLR shows that consumers as well as providers are still hesitant to enter into spot pricing due to lack of practical and easily deployable market-driven mechanisms.

End-use Insights

Healthcare providers held a dominant share in 2018. Increasing number of hospital connections over the cloud has positively impacted the demand for SaaS model. The benefits of these systems such as off-site data storage to save space and outsourcing of IT solutions from hosting vendors eliminate the need for in-house IT staff, which is expected to fuel market demand over the forecast period.

Providers segment is also expected to witness the fastest CAGR in the next 7 years due to increasing adoption, as cloud computing offers flexibility, scalability, and improved data storage. Advancements in technology allows pharmacists to choose data management solutions in order to track historical data related to payment and drug sold to patients. These factors are expected to contribute to the growing demand from the healthcare payers in the coming years.

Regional Insights

In 2018, North America dominated the overall healthcare cloud computing market with a revenue share of 55.0%. Growing adoption of EHRs and expanding applications of analytical IT solutions in health management to streamline workflow as well as improve efficiency of processes are among key factors that can be attributed to the high revenue share. In addition, advancements in healthcare IT infrastructure and rise in IT initiatives by public and private players are also positively impacting market growth.

Asia Pacific is anticipated to be the fastest growing market with a CAGR of 13.5%, with economies such as India, China, and Japan presenting lucrative opportunities. Growth in geriatric population, increase in chronic disease burden, and presence of initiatives supporting adoption of integrated health systems are among factors boosting the market. Improving healthcare infrastructure in this region, with growing usage of IT solutions in medical field, is expected to drive the market.

Healthcare Cloud Computing Market Share Insights

The market is fragmented in nature. Some of the major companies are CareCloud Corporation; Athenahealth; ClearData Networks, Inc.; Cerner Corporation; Epic Systems Corporation; NextGen Healthcare; Carestream Corporation; Dell, Inc.; DICOM Grid, Inc.; INFINITT Healthcare; Sectra AB; Merge Healthcare, Inc.; Siemens Healthineers; iTelagen, Inc.; NTT DATA Corporation; Nuance Communications; and Ambra Health. Companies are adopting strategies such as mergers and acquisitions, collaborative agreements, regional expansion, and new product launches to gain competitive advantage. For instance, Ambra Health in November 2018 announced that the company has collaborated with the Google Cloud to advance research on medical imaging data. Initiatives like this are anticipated to boost growth.

Key Insights Covered: Global Healthcare Cloud Computing Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Healthcare Cloud Computing industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Healthcare Cloud Computing industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Healthcare Cloud Computing industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Healthcare Cloud Computing industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Healthcare Cloud Computing industry.

Research Methodology: Global Healthcare Cloud Computing Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other