Healthcare Cloud Computing Market

The global Healthcare Cloud Computing market was valued at USD 32.44 Billion in 2020 and is projected to reach USD 128.19 Billion by 2028, growing at a CAGR of 18.74% from 2021 to 2028.

Cloud computing in healthcare is the practice of implementing remote servers accessed via the internet to manage, store, and process healthcare-related data. This is in contrast to establishing an on-site data center with servers, or hosting the data on a personal computer.

The global Healthcare Cloud Computing market is segmented based on by Product, Deployment, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Healthcare Cloud Computing  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The increasing adoption of big data analytics, wearable devices, and IoT in healthcare and increasing cloud deployment in the healthcare industry is anticipated to augment the growth of the healthcare cloud computing market during the forecast period. Furthermore, proliferation of new payment models and cost-efficiency of the cloud along with dynamic nature of health benefit plan designs is also expected to support the market growth.

The emergence of the telecloud and use of blockchain in the health cloud is further likely to support the growth of the market in near future.

The data security and privacy concerns along with complex regulations governing cloud data centers are expected to limit the growth of the healthcare cloud computing market during the forecast period.

Product  Analysis: Preview

On the basis of Product, the market is segmented into Healthcare Provider Solutions, Healthcare Payer Solutions. Healthcare Provider Solutions  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Healthcare Provider Solutions in emerging economies in Asia Pacific region.

Deployment Analysis: Preview

Based on Deployment, the market is segmented into Private Cloud, Hybrid Cloud, Public Cloud. Hybrid Cloud accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

On the basis of region, the global Healthcare Cloud Computing market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held the largest share of the global Healthcare Cloud Computing market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. U.S. is one of the most profitable countries for companies operating in the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Healthcare Cloud Computing market are IBM, Carestream Health, athenahealth, Hyland Software, Siemens Healthineers, eClinicalWorks, Koninklijke Philips NV, Allscripts Healthcare Solutions, Fujifilm Holdings, GE Healthcare.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.