Cloud Computing Market in Healthcare Market Size Report, 2022-2030
The global Cloud Computing market size was valued at USD 30.9 billion in 2021 and predicted to surpass around USD 128.07 billion by 2030 with a registered CAGR of around 17.9% during the forecast period 2022 to 2030.
Growth Factors:
Technological advancements, disaster recovery, pay-as-you-go pricing model, secured information access, and need to overcome limited use of rack space in data centers are anticipated to propel the global cloud computing market in healthcare industry during the forecast period
Moreover, healthcare IT reforms, data flexibility & scalability, and need of electronic health records (EHR) for safe patient records are other factors expected to augment the cloud global computing market over the next few years
Cloud computing in the healthcare industry utilizes advanced software and technologies. It is considered a revolution in the healthcare IT market. Cloud services enable healthcare organizations to deliver more at lower cost. Additionally, large number of HCOs are allocating funds for migration to cloud computing in the next five years.
Cloud system has a major advantage of pay-as-you-go pricing model that charges user according to usage. This is beneficial for HCOs that look for cost-effective IT solutions, where capital lock-ins are reduced and these funds are diverted toward patient care. This pricing model also provides an option to estimate the cost involved in taking IT support and plan it in the given budget of a HCO.
Cloud Computing Market in Healthcare Industry: Overview
Report Scope of the Cloud Computing Market in Healthcare Market
|
Report Coverage |
Details |
|
Market Size |
US$ 128.07 Billion by 2030 |
|
Growth Rate |
CAGR of 17.9% from 2022 to 2030 |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Service Model, Pricing Model, Cloud Type, End-user and Region, |
|
Companies Mentioned |
CareCloud Corporation, ClearDATA Networks, Carestream Health, Inc., AGFA Healthcare, Cisco Systems, Inc., Merge Healthcare, Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Amazon Web Services, e-Zest, Kinvey, Salesforce |
Rapid Growth in Healthcare Fueling Demand for Cloud Computing amid COVID-19
The continuous demand for medical services due to the onset of the coronavirus outbreak is creating income sources for companies in the cloud computing market in healthcare industry. Vendors are focusing on positive or limited negative-impact applications in the healthcare industry such as claims management and revenue cycle management to meet the demands of HCOs. They are increasing the availability of affordable and easy-to-use platforms & software to boost sales. Software providers are anticipated to increase training programs for medical staff and healthcare practitioners to bolster software sales during & post the pandemic period. On-demand features in platforms and software are being preferred by HCOs.
Software Providers Cater to Requirements of Healthcare Organizations
The global cloud computing market in healthcare industry is projected to grow at a rapid pace, owing to the need of healthcare organizations to manage and optimize their complex IT systems, provide faster, and flexible healthcare delivery to patients and physicians through mobile & other easy access systems. Software providers are achieving this by complying with regulatory standards and maintaining confidentiality regarding patient data.
The cloud computing market in healthcare industry in the healthcare industry is slated to register a strong double-digit CAGR during the forecast period. The rapid pace of the expansion of this market can be attributed to the rising need of healthcare organizations (HCOs) to provide more flexible and faster healthcare services to patients, manage as well as fully optimize their IT systems, and comply with evolving regulatory norms & ensure the security of confidential patient information. The emergence of cloud computing in the healthcare industry is designed to increase cost efficiency and productivity among HCOs, and the growing digitalization within the sector has considerably supported the market growth.
R&D Accomplishments in North America Driving Demand for Cloud Computing in Healthcare Industry
North America is emerging as a regional leader in the cloud computing market in healthcare industry and has accounted for a massive revenue share of more than 75% in 2020. The region is also likely to emerge as the most lucrative market by the end of the forecast period.
One of the leading factors fueling market growth is the large-scale adoption of electronic medical records despite tight regulatory constraints. The U.S. healthcare market is characterized by technological innovations and high levels of research & development in the field. The country is also home to several prominent companies operating in the cloud computing market in healthcare industry, which further drives its growth.
Pay-as-you-go Pricing Model Holds Potentials to Reduce IT Costs
Cloud computing in the healthcare industry utilizes advanced software and technologies. It is considered as a revolution in the healthcare IT sector. Cloud services enable healthcare organizations to deliver more at low cost. Additionally, a large number of HCOs are allocating funds for migration to cloud computing in the next five years.
Cloud system has a major advantage of pay-as-you-go pricing model that charges the user according to the usage. This is beneficial for HCOs that are finding cost-effective IT solutions, where capital lock-ins are reduced and these funds are diverted toward patient care. This pricing model also provides an option to estimate the cost involved in taking IT support and plan it in the given budget of an HCO.
Cloud Computing Market in Healthcare Industry: Regional Overview
North America accounted for the largest share of the global cloud computing market in healthcare industry in 2020, and the trend is projected to continue during the forecast period. North America is the fastest growing cloud computing market in healthcare industry. The region's large market size can be attributed to the presence of a large number of biopharmaceutical companies that are active in R&D and use IT support to optimize their processes. The market size is also influenced by increase in IT spending in the healthcare industry.
The market is likely to register high attractiveness during the forecast period, as health care organizations (HCOs) need to cut down IT spending and have begun to adopt cloud computing for IT solutions. Technological advancements, IT infrastructure virtualization, and adoption of various hospital information systems such as EMR, EHR, and PHR and introduction of incentives for digitization of patient records propel the market in the region.
Rise in cost of delivery of healthcare services to the patient community has induced the healthcare industry to evolve as one of the largest industries with trillions of dollars spent within the public and private sector. The U.S. is considered the largest healthcare market in terms of spending, and therefore has witnessed faster adoption of cloud computing.
The market in Asia Pacific is projected to grow at a rapid pace in the next few years, owing to rise in demand for the technology for leveraging and transforming the healthcare industry. Adoption of cloud-based solutions is proving quite effective in managing costs in the healthcare sector. Advanced healthcare offerings result in delivering cost-effective solutions that cater to the needs of the companies as well as patients.
Some of the prominent players in the Cloud Computing Market in Healthcare Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Cloud Computing Market in Healthcare Market Study:
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Cloud Computing Market in Healthcare Industry
4. Market Overview
4.1. Introduction
4.1.1. Market Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Cloud Computing Market in Healthcare Industry Analysis and Forecast, 2017–2030
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. COVID-19 Impact on the Cloud Computing Market in Healthcare Industry
5.2. Technological advancements
5.3. Overview of Electronic Medical Records (EMR)
5.4. Adoption of Cloud based storage
5.5. Investment in research & development in Healthcare
6. Global Cloud Computing Market in Healthcare Industry Analysis and Forecast, by Service Model
6.1. Introduction & Definition
6.1.1. Key Findings / Developments
6.2. Global Cloud Computing Market in Healthcare Industry Value Forecast, by Service Model, 2017–2030
6.2.1. Infrastructure-as-a-Service (IaaS)
6.2.2. Platform-as-a-Service (PaaS)
6.2.3. Software-as-a-Service (SaaS)
6.3. Global Cloud Computing Market in Healthcare Industry Attractiveness Analysis, by Service Model, 2022-2030
7. Global Cloud Computing Market in Healthcare Industry Analysis and Forecast, by Pricing Model
7.1. Introduction & Definition
7.1.1. Key Findings / Developments
7.2. Global Cloud Computing Market in Healthcare Industry Value Forecast, by Pricing Model, 2017–2030
7.2.1. Spot Pricing or Subscription Model
7.2.2. Pay-as-you-go Model
7.3. Global Cloud Computing Market in Healthcare Industry Attractiveness Analysis, by Pricing Model, 2022-2030
8. Global Cloud Computing Market in Healthcare Industry Analysis and Forecast, by Cloud Type
8.1. Introduction & Definition
8.1.1. Key Findings / Developments
8.2. Global Cloud Computing Market in Healthcare Industry Value Forecast, by Cloud Type, 2017–2030
8.2.1. Public
8.2.2. Private
8.2.3. Hybrid
8.3. Global Cloud Computing Market in Healthcare Industry Attractiveness Analysis, by Cloud Type, 2022-2030
9. Global Cloud Computing Market in Healthcare Industry Analysis and Forecast, by End-user
9.1. Introduction & Definition
9.1.1. Key Findings / Developments
9.2. Global Cloud Computing Market in Healthcare Industry Value Forecast, by End-user, 2017–2030
9.2.1. Clinical Information Systems (CIS)
9.2.2. Non-clinical Information Systems (NCIS)
9.3. Global Cloud Computing Market in Healthcare Industry Attractiveness Analysis, by End-user, 2022-2030
10. Global Cloud Computing Market in Healthcare Industry Analysis and Forecast, by Region
10.1. Key Findings
10.2. Global Cloud Computing Market in Healthcare Industry Value Forecast, by Region
10.2.1. North America
10.2.2. Europe
10.2.3. Asia Pacific
10.2.4. Latin America
10.2.5. Middle East & Africa
10.3. North America Cloud Computing Market in Healthcare Industry Attractiveness Analysis, by Region, 2022-2030
11. North America Cloud Computing Market in Healthcare Industry Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. North America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Service Model, 2017–2030
11.2.1. Infrastructure-as-a-Service (IaaS)
11.2.2. Platform-as-a-Service (PaaS)
11.2.3. Software-as-a-Service (SaaS)
11.3. North America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Pricing Model, 2017–2030
11.3.1. Spot Pricing or Subscription Model
11.3.2. Pay-as-you-go Model
11.4. North America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Cloud Type, 2017–2030
11.4.1. Public
11.4.2. Private
11.4.3. Hybrid
11.5. North America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by End-user, 2017–2030
11.5.1. Clinical Information Systems (CIS)
11.5.2. Non-clinical Information Systems (NCIS)
11.6. North America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Country, 2017–2030
11.6.1. U.S.
11.6.2. Canada
11.7. North America Cloud Computing Market in Healthcare Industry Attractiveness Analysis, 2022-2030
11.7.1. By Service Model
11.7.2. By Pricing Model
11.7.3. By Cloud Type
11.7.4. By End-user
11.7.5. By Country
12. Europe Cloud Computing Market in Healthcare Industry Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Europe Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Service Model, 2017–2030
12.2.1. Infrastructure-as-a-Service (IaaS)
12.2.2. Platform-as-a-Service (PaaS)
12.2.3. Software-as-a-Service (SaaS)
12.3. Europe Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Pricing Model, 2017–2030
12.3.1. Spot Pricing or Subscription Model
12.3.2. Pay-as-you-go Model
12.4. Europe Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Cloud Type, 2017–2030
12.4.1. Public
12.4.2. Private
12.4.3. Hybrid
12.5. Europe Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by End-user, 2017–2030
12.5.1. Clinical Information Systems (CIS)
12.5.2. Non-clinical Information Systems (NCIS)
12.6. Europe Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
12.6.1. Germany
12.6.2. U.K.
12.6.3. France
12.6.4. Italy
12.6.5. Spain
12.6.6. Rest of Europe
12.7. Europe Cloud Computing Market in Healthcare Industry Attractiveness Analysis, 2022-2030
12.7.1. By Service Model
12.7.2. By Pricing Model
12.7.3. By Cloud Type
12.7.4. By End-user
12.7.5. By Country/Sub-region
13. Asia Pacific Cloud Computing Market in Healthcare Industry Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Asia Pacific Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Service Model, 2017–2030
13.2.1. Infrastructure-as-a-Service (IaaS)
13.2.2. Platform-as-a-Service (PaaS)
13.2.3. Software-as-a-Service (SaaS)
13.3. Asia Pacific Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Pricing Model, 2017–2030
13.3.1. Spot Pricing or Subscription Model
13.3.2. Pay-as-you-go Model
13.4. Asia Pacific Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Cloud Type, 2017–2030
13.4.1. Public
13.4.2. Private
13.4.3. Hybrid
13.5. Asia Pacific Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by End-user, 2017–2030
13.5.1. Clinical Information Systems (CIS)
13.5.2. Non-clinical Information Systems (NCIS)
13.6. Asia Pacific Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
13.6.1. Japan
13.6.2. China
13.6.3. India
13.6.4. Australia & New Zealand
13.6.5. Rest of Asia Pacific
13.7. Asia Pacific Cloud Computing Market in Healthcare Industry Attractiveness Analysis, 2022-2030
13.7.1. By Service Model
13.7.2. By Pricing Model
13.7.3. By Cloud Type
13.7.4. By End-user
13.7.5. By Country/Sub-region
14. Latin America Cloud Computing Market in Healthcare Industry Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Latin America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Service Model, 2017–2030
14.2.1. Infrastructure-as-a-Service (IaaS)
14.2.2. Platform-as-a-Service (PaaS)
14.2.3. Software-as-a-Service (SaaS)
14.3. Latin America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Pricing Model, 2017–2030
14.3.1. Spot Pricing or Subscription Model
14.3.2. Pay-as-you-go Model
14.4. Latin America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Cloud Type, 2017–2030
14.4.1. Public
14.4.2. Private
14.4.3. Hybrid
14.5. Latin America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by End-user, 2017–2030
14.5.1. Clinical Information Systems (CIS)
14.5.2. Non-clinical Information Systems (NCIS)
14.6. Latin America Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
14.6.1. Brazil
14.6.2. Mexico
14.6.3. Rest of Latin America
14.7. Latin America Cloud Computing Market in Healthcare Industry Attractiveness Analysis, 2022-2030
14.7.1. By Service Model
14.7.2. By Pricing Model
14.7.3. By Cloud Type
14.7.4. By End-user
14.7.5. By Country/Sub-region
15. Middle East & Africa Cloud Computing Market in Healthcare Industry Analysis and Forecast
15.1. Introduction
15.1.1. Key Findings
15.2. Middle East & Africa Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Service Model, 2017–2030
15.2.1. Infrastructure-as-a-Service (IaaS)
15.2.2. Platform-as-a-Service (PaaS)
15.2.3. Software-as-a-Service (SaaS)
15.3. Middle East & Africa Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Pricing Model, 2017–2030
15.3.1. Spot Pricing or Subscription Model
15.3.2. Pay-as-you-go Model
15.4. Middle East & Africa Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Cloud Type, 2017–2030
15.4.1. Public
15.4.2. Private
15.4.3. Hybrid
15.5. Middle East & Africa Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by End-user, 2017–2030
15.5.1. Clinical Information Systems (CIS)
15.5.2. Non-clinical Information Systems (NCIS)
15.6. Middle East & Africa Cloud Computing Market in Healthcare Industry Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2030
15.6.1. GCC Countries
15.6.2. South Africa
15.6.3. Rest of Middle East & Africa
15.7. Middle East & Africa Cloud Computing Market in Healthcare Industry Attractiveness Analysis, 2022-2030
15.7.1. By Service Model
15.7.2. By Pricing Model
15.7.3. By Cloud Type
15.7.4. By End-user
15.7.5. By Country/Sub-region
16. Competition Landscape
16.1. Market Player - Competition Matrix (by tier and size of companies)
16.2. Market Share / Position Analysis, by Company, 2020
16.3. Competitive Business Strategies
16.4. Company Profiles
16.4.1. CareCloud Corporation
16.4.1.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.1.2. Product Portfolio
16.4.1.3. Financial Overview
16.4.1.4. Strategic Overview
16.4.1.5. SWOT Analysis
16.4.2. ClearDATA Networks
16.4.2.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.2.2. Product Portfolio
16.4.2.3. Financial Overview
16.4.2.4. Strategic Overview
16.4.2.5. SWOT Analysis
16.4.3. Carestream Health, Inc.
16.4.3.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.3.2. Product Portfolio
16.4.3.3. Financial Overview
16.4.3.4. Strategic Overview
16.4.3.5. SWOT Analysis
16.4.4. AGFA Healthcare
16.4.4.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.4.2. Product Portfolio
16.4.4.3. Financial Overview
16.4.4.4. Strategic Overview
16.4.4.5. SWOT Analysis
16.4.5. Cisco Systems, Inc.
16.4.5.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.5.2. Product Portfolio
16.4.5.3. Financial Overview
16.4.5.4. Strategic Overview
16.4.5.5. SWOT Analysis
16.4.6. Merge Healthcare, Inc.
16.4.6.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.6.2. Product Portfolio
16.4.6.3. Financial Overview
16.4.6.4. Strategic Overview
16.4.6.5. SWOT Analysis
16.4.7. IBM Corporation
16.4.7.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.7.2. Product Portfolio
16.4.7.3. Financial Overview
16.4.7.4. Strategic Overview
16.4.7.5. SWOT Analysis
16.4.8. Intel Corporation
16.4.8.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.8.2. Product Portfolio
16.4.8.3. Financial Overview
16.4.8.4. Strategic Overview
16.4.8.5. SWOT Analysis
16.4.9. Microsoft Corporation
16.4.9.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.9.2. Product Portfolio
16.4.9.3. Financial Overview
16.4.9.4. Strategic Overview
16.4.9.5. SWOT Analysis
16.4.10. Oracle Corporation
16.4.10.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.10.2. Product Portfolio
16.4.10.3. Strategic Overview
16.4.10.4. SWOT Analysis
16.4.11. Amazon Web Services
16.4.11.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.11.2. Product Portfolio
16.4.11.3. Financial Overview
16.4.11.4. Strategic Overview
16.4.11.5. SWOT Analysis
16.4.12. e-Zest
16.4.12.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.12.2. Product Portfolio
16.4.12.3. Financial Overview
16.4.12.4. Strategic Overview
16.4.12.5. SWOT Analysis
16.4.13. Kinvey
16.4.13.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.13.2. Product Portfolio
16.4.13.3. Financial Overview
16.4.13.4. Strategic Overview
16.4.13.5. SWOT Analysis
16.4.14. Salesforce
16.4.14.1. Company Overview (HQ, Business Segments, Employee Strength)
16.4.14.2. Product Portfolio
16.4.14.3. Financial Overview
16.4.14.4. Strategic Overview
16.4.14.5. SWOT Analysis
Cross-segment Market Size and Analysis for
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