Cloud Computing in Healthcare Market

Analysts at GMI Research estimates that the Healthcare Cloud Computing Market size was worth USD 38.4 billion in 2022, and forecast to touch USD 133.0 billion in 2030, growing at a significant higher CAGR of 16.8% from 2023-2030.

Major Healthcare Cloud Computing Market Drivers

The healthcare cloud computing market is predicted to be fostered by a significant rise in the integration of information technology in the healthcare industry, growing implementation of big data analytics, rising deployments of cloud in the healthcare segment, and a considerable rise in demand for cloud infrastructure. The increasing shift towards digitizing healthcare, incorporating advanced AI or ML algorithms, growing expenses, deploying healthcare systems on the cloud, ineffective facility management, and overwhelmed systems collectively raise the need for healthcare cloud infrastructure. Integrating and optimizing workflows, developing functional and operational outcomes, confirming optimal care delivery, and managing data securely are predicted to observe developed adoption and increased need for these cloud infrastructure systems, subsequently driving the market growth.

Recent technological advancements and improved security measures empower different healthcare establishments to influence the benefits of cloud computing solutions. Innovations such as natural learning processing APIs, remote monitoring, and developed telehealth cloud technology are continuously evolving to adapt to developing digital health surroundings. HIMSS Analytics Survey stated that over 83% of healthcare organizations presently use cloud services.

Many healthcare facilities aspire to elevate their usage of cloud computing solutions by embracing cutting-edge technology. Rather than transferring and collecting data to the cloud, these systems analyze and process information at the point of collection, real-time data usage, and marking a shift toward more effective. The global healthcare cloud computing industry is predicted to observe growth opportunities propelled by the widespread accessibility of high-speed internet and the acceptance of promising regulatory measures. However, challenges connected to data portability, a growing number of cloud data breaches, and rising privacy concerns predicted hurdles to the international advancement of the healthcare cloud computing market. Moreover, the shortage of skilled IT experts has limited the swift implementation of this technology. This scarcity of skills is predicted to slow down the acceptance of cloud computing systems in the healthcare industry.

The increasing accessibility of advanced technological solutions in the healthcare industry, coupled with an increased acceptance of cloud computing to develop cost-effectiveness, storage, flexibility, scalability, and efficiency is predicted to propel significant growth in the market. The expanding IT infrastructure in improved nations stands out as a foremost driver for the growing need. With care facilities facing the difficulties of an increasing patient population and an increase in patient information, there is an increased requirement for real-time data admittance and seamless integration of information. The healthcare IT industry’s potential is fascinating both private and public investments, predicted contributing to positive impacts on market growth.

Additionally, in the final quarter of 2017, the University of Pittsburgh Medical Center successfully announced a significant investment of USD 2 billion focused on digitally transforming all their hospitals, with a specific aim on UPMC Hillman Cancer Hospital, UPMC Heart and Transplant Hospital, and UPMC Vision & Rehabilitation Hospital. Organizations are employing cloud-deployed data dashboards to provide the real-time data visions and analytics, thereby developing data management capabilities. Thereby, the market is predicted to be propelled by the growing need for healthcare facilities at competitive rates, an increase in the demand for technological solutions, increasing demand for high information movement, surge in government rules and incentives, and increased spending for the implementation of hospital cloud computing solutions and technologies in care services.

The primary challenge hindering the expansion of the global healthcare cloud computing market is linked with restrictions related to healthcare cloud computing. factors like security concerns, privacy challenges, and others are anticipated to limit the market growth in the forecast period. The data security threats are increased by individuals engaging in immoral activities. In addition, the wireless sensor network establishment has amplified the prevalence of network security concerns. Therefore, organizations are increasingly troubled by network security within cloud infrastructure. Furthermore, HIPAA, in 2020, a surprising 80% of cloud service providers globally experienced at least one cloud data breach between 2018 and 2020, with cloud misconfigurations being the primary culprit.

Whereas, major players in this market are actively adopting organic strategies including product approvals and launches. The consistent introduction of cloud-based imaging systems and software designed for healthcare applications is predicted to propel the growth of the global cloud computing in healthcare market in the forecast period. For instance, in 2021, Change Healthcare, a foremost healthcare technology company, disclosed the Stratus Imaging PACS. This cloud-native, zero-footprint archiving and communication system is predicted to assist in the development of healthcare technology. In 2019, JIUN Corporation, a company specializing in medical care solutions, announced the launch of SonicDICOM PACS Cloud, a cloud-based medical image management system. This system enables medical pictures saved in the cloud to be accessed and examined from any tablet and computer with an internet connection, using precise RL through SonicDICOM PACS Cloud, irrespective of the user’s location around the globe.

By Products, Healthcare Provider Solutions Segment Account for the Largest Revenue Share in Global Market

The healthcare provider segment registered the market growth due to a rise in hospital connections leveraging cloud infrastructure, propelling the need for the SaaS model. This appeal of preventive off-site data storage, the convenience of outsourcing IT solutions, and streamlined management, thus decreasing the need for in-house IT personnel, contributes to the benefits of these systems. The growth of the segment is predicted to be driven by the flexibility, scalability, and developed data management offered by improved computing systems and solutions. Continuous technological innovations in this space further present a boost in the healthcare provider solutions segments in the coming period.

By Service Model, Software-as-a-services (SaaS) Segment Registered the Largest Share in the Global Market

The SaaS services of the market secured the leading share, attributed to the different benefits offered by this model. These benefits include developed safety, decreased total cost of ownership, quicker deployment times, and lower upfront capital expenditures. Different SaaS products exhibit self-learning and autonomous capabilities, and fortunately, healthcare businesses and organizations are presenting an increasing interest in AI. Over maximum number of successful IT companies have started integrating AI technologies, transforming corporate functions, developing efficiency, and accompanying human skills by automating repetitive tasks.

By Region, North America Dominated for the Largest Revenue Share in the Market

The increasing public awareness and increasing demand for stringent regulatory compliance, coupled with growing investments from healthcare entities along with growing investments from healthcare personalities such as IBM, CISCO, GE Healthcare, and government organizations, are predicted to propel the requirement for this system in the forecast period. The key market players have introduced services and software that allow the integration and collection of extensive healthcare information, proving beneficial for industry development. Moreover, these software solutions deliver seamless admittance to patient information, helping healthcare experts in making precise decisions. In addition to this, the widespread adoption of cloud computing software to develop hospital administration and strengthen fraud prevention is introducing a positive pathway for the growth of the healthcare cloud computing market size in North America.

The establishment of new collaborations and partnerships among the giant market organizations in healthcare cloud computing contributes to market growth. For instance, in 2022, LifePoint Health joined hands with Google Cloud to change healthcare delivery in communities in the U.S. with the help of LifePoint’s implementation of Google Cloud’s HDE. Therefore, the new partnerships towards healthcare cloud computing are predicted to drive the North America healthcare cloud computing market share growth.

Top Market Players

Various notable players operating in the market include Amazon.com, Inc., Athenahealth Inc., CareCloud, Inc., ZYMR Inc., ClearDATA, Dell Inc., IBM Corporation, Iron Mountain Incorporated, Oracle, Siemens Healthcare GmbH, and Koninklijke Philips NV, among others

Key Developments

• • In 2023, AWS successfully launched 2^nd infrastructure region across Australia to allow more customers to develop and launch cloud-based applications and higher resilience.
  • In 2022, Babylon Health announced an expansion of its hybrid cloud infrastructure setup to fulfill the growing infrastructure requirements of its speedily rising business.
  • In 2022, Wipro Ltd, joined hands with VMware to offer remote work stage, and cloud computing to enable enterprises their security standards to a scattered workforce.
  • In 2022, Oracle introduced specified supply chain solutions for the industry of healthcare to assist healthcare organizations in driving a more associated patient experience and improve the overall experience of patient care.

Segments covered in the Report:

The Global Healthcare Cloud Computing Market has been segmented on the basis of Application, Deployment, Service and End-User. Based on the Application, the market is segmented into Clinical Information Systems (CIS) and Non-clinical Information Systems (NCIS). The Clinical Information Systems (CIS) is further segmented into Electronic Health Record (EHR), Picture Archiving and Communication System (PACS), Radiology Information Systems (RIS), Computerized Physician Order Entry (CPOE) and Other Applications. The Non-clinical Information Systems (NCIS) segment is further segmented into Revenue Cycle Management (RCM), Automatic Patient Billing (APB), Payroll Management System and Other Non-clinical Information Systems. Based on the Deployment, the market is segmented into Private Cloud and Public Cloud. Based on the Service, the market is segmented into Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS). Based on the End-User, the market is segmented into Healthcare Providers and Healthcare Payers.

Report Coverage	Details
Market Revenues (2022)	USD 38.4 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Application, By Deployment, By Service, By End User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Amazon.com, Inc., Athenahealth Inc., CareCloud, Inc., ZYMR Inc., ClearDATA, Dell Inc., IBM Corporation, Iron Mountain Incorporated, Oracle, Siemens Healthcare GmbH, and Koninklijke Philips NV., among others; a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Healthcare Cloud Computing Market By Application

• • Clinical Information Systems (CIS)
    • Electronic Health Record (EHR)
    • Picture Archiving and Communication System (PACS)
    • Radiology Information Systems (RIS)
    • Computerized Physician Order Entry (CPOE)
    • Other Applications
  • Non-clinical Information Systems (NCIS)
    • Revenue Cycle Management (RCM)
    • Automatic Patient Billing (APB)
    • Payroll Management System
    • Other Non-clinical Information Systems

Global Healthcare Cloud Computing Market By Deployment

• • Private Cloud
  • Public Cloud

Global Healthcare Cloud Computing Market By Service

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

Global Healthcare Cloud Computing Market By End User

• • Healthcare Providers
  • Healthcare Payers

Global Healthcare Cloud Computing Market by Region

• • North America Healthcare Cloud Computing Market (Option 1: As a part of the free 25% customization)

    • By Application
    • By Deployment
    • By Service
    • By End User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Global Healthcare Cloud Computing Market (Option 2: As a part of the free 25% customization)

    • By Application
    • By Deployment
    • By Service
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Global Healthcare Cloud Computing Market (Option 3: As a part of the free 25% customization)

    • By Application
    • By Deployment
    • By Service
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Global Healthcare Cloud Computing Market (Option 4: As a part of the free 25% customization)

    • By Application
    • By Deployment
    • By Service
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Healthcare Cloud Computing Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Amazon.com, Inc.
  • Athenahealth Inc.
  • CareCloud, Inc.
  • ZYMR Inc.
  • ClearDATA
  • Dell Inc.
  • IBM Corporation
  • Iron Mountain Incorporated
  • Oracle
  • Siemens Healthcare GmbH
  • Koninklijke Philips NV