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Healthcare Cloud Computing Market Analysis

ID: MRFR//5057-HCR | 100 Pages | Author: Rahul Gotadki| July 2024

The Healthcare Cloud Computing market is experiencing rapid adoption as healthcare providers embrace cloud-based solutions to enhance their operational efficiency and data management. The move to cloud computing facilitates better availability, flexibility, and economy in handling colossal volumes of health-related data.
Although the market for Healthcare Cloud Computing has considerably adopted, data security remains a leading challenge. In order to comply with the industry’s stringent regulatory requirements, providers spend tremendous amounts of money on complex encryption, secure authentication and compliance measures.
Cloud computing as a viable cost-effective alternative for healthcare organization this would reduce physical infrastructures and maintenance costs. The pay-as-you go approach enables providers to respond dynamically to demand by expanding the level of their resources, thereby reducing operational costs and fostering financial stability.
It is the need for interoperability that has triggered amalgamation of healthcare cloud solutions with current utilities. Through the use of cloud computing, patient data can be shared consistently across various departments and health facilities which leads to collaborative care that eventually benefits patients positively.
The increased growth of telehealth services has further fuelled the development of Healthcare Cloud Computing. Cloud-based platforms enable remote consultations, data sharing and real time collaboration which translates to efficient delivery of care that is accessible to patients regardless where they are.
Cloud computing is an integral part of Health Information Exchange initiatives. Cloud-based platforms allow for a secure and standardized sharing of patient data among clinicians, increasing the continuity of care and decreasing redundant diagnostic tests.
For personalized patient care, predictive analytics and population health management cloud computing provides the required infrastructure for processing enormous datasets that leads to meaningful results.
HIPAA and other regulatory frameworks pose notable challenges in terms of adherence among healthcare cloud providers. Market dynamics include persistent efforts to create solutions meeting the required regulations, data security and legality.
The number of edge computing in the healthcare cloud setting is significant. Edge computing enables data processing nearer to the source and thereby lowers latency as well as improves real-time capabilities. This is especially important in healthcare situations where timely availability of vital information plays a very critical role.

The global healthcare cloud computing market is growing by the wide spread of providers’ services to international health care systems. This globalization is primarily led by the need for standardized and interoperable solutions, which ensured effective collaboration of healthcare organizations on a worldwide scale.
To overcoming the change resistance and ensuring seamless implementation of healthcare cloud computing, education and training initiatives are undertaken by providers. These programs aim to familiarize healthcare professionals with the functionalities of cloud-based systems, ensuring optimal utilization and promoting a culture of continuous learning.

Covered Aspects:

Report Attribute/Metric Details

Global Healthcare Cloud Computing Market Overview

Healthcare Cloud Computing Market Size was valued at USD 24.99 Billion in 2023. The Healthcare Cloud Computing market industry is projected to grow from USD 28.39 Billion in 2024 to USD 69.31 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.80% during the forecast period (2024 - 2032). Cost-effectiveness, storing and managing data, Scalability and adaptability more effective cooperation and communication, data insights and analytics, are the key market drivers enhancing the market growth.

Healthcare Cloud Computing Market

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Due to the industry's growing trend toward digitization, the use of cutting-edge AI/ML computations, the use of cloud-based healthcare systems, rising expenses, inefficient facility management, and overburdened systems, there is a significant need for healthcare cloud infrastructure. The development further influences the market in popularity of technology due to its many benefits, including the availability of dynamic health benefit plan designs and flexibility, better data storage, and scalability offered by cloud computing. Care institutions would be able to give the best care possible, integrate and streamline their operations, and drive their operational and functional outcomes. It is expected to accelerate market growth and increase consumer demand and adoption of these cloud infrastructure technologies. For instance, remote patient monitoring is a common application for cloud computing technology. The market will likely grow due to the healthcare industry's increased access to cutting-edge technological solutions and the emergence of cloud computing, which is used to reduce costs while offering adaptability, storage, and scalability.

One of the main elements fueling demand is the expanding IT infrastructure in wealthy nations. Care facilities must provide real-time data access and data integration due to the expanding number of patients and the volume of information about patients. The requirement for this technique is anticipated to increase throughout the analysis period due to expanding public awareness, increasing investment from government and healthcare companies, and increasing requirements for strict regulatory compliance. The increased reliance of users on the internet, interoperability and portability problems, and provider renting practices are anticipated to provide challenges to the healthcare cloud computing industry during the forecast period.

According to analysts, the Indian healthcare and pharmaceutical industries are quickly undergoing a digital revolution thanks to cloud technology supported by cutting-edge technologies like AI, machine learning (ML), and data analytics. Due to this, there is a greater need for cloud-based services, big data analytics, and other technological resources that can assist governments and businesses in improving various processes, including database management, R&D procedures, drug discovery, and production. Taking advantage of these patterns, some of the biggest players in the cloud industry, such as Amazon, Microsoft, and Google, are positioning themselves to provide their cloud-based services to companies in the pharmaceutical and healthcare industries. "India is currently one of the biggest and most interesting areas for technology businesses to develop.

In March 2023, Fujitsu, a Japanese provider of ICT, has unveiled an innovative cloud-based platform that enables the secure procurement, storage, and application of health and health-related data. By integrating the automatic conversion of medical data from EMR systems to current HL7 FHIR standards, the new platform facilitates the exchange and utilization of data. Preceding it is the Microsoft Azure infrastructure. Moreover, it enables the secure collection and aggregation of a wide range of health-related and physiological data, including but not limited to caloric intake, vital signs, and step counts. By converting patient-encoded personal health information to non-personally identifiable information, this process facilitates personalized healthcare. By employing this information, medical institutions and hospitals are able to determine the most suitable medications and treatment approaches for individual patients. According to Fujitsu, pharmaceutical companies have the ability to employ anonymous data in a comparable fashion. This capability empowers them to perform "more comprehensive, streamlined, and expedited validation of pharmaceuticals and medical treatments, encompassing adverse effects;" diminish the duration required for the development of novel drugs; improve the rate of success in drug development; and expand the utility of previously approved drugs.

In October 2023, PureHealth debuted 'PureNet', a healthcare-specific cloud platform providing digital health as a service. PureNet successfully merges emerging cloud computing technologies with well-established healthcare service providers, thereby facilitating the optimization and digitization of operations at a reduced financial expenditure. The platform will enable healthcare providers to deliver comprehensive, patient-centered care while reducing operational expenses through the facilitation of operational efficiencies. An all-in-one solution, PureNet provides immediate, cost-effective access to manage operational technology requirements for all sizes of healthcare organizations. PureNet offers comprehensive healthcare solutions that encompass the digitization of patient record administration, the streamlining of administrative procedures, and the provision of insights to improve patient engagement and satisfaction.

Healthcare Cloud Computing Market Trends

  • Increasing IT infrastructure in developed countries is driving the market growth

The cloud computing market for healthcare has experienced substantial expansion and change in recent years. With so many advantages and prospects for healthcare organizations, providers, and patients, cloud computing has become a crucial technology in the sector. Healthcare cloud computing entails the management, processing, and storage of programmes and data on remote servers that are accessed online. The healthcare sector has seen a transformation as a result of the switch from traditional on-premises infrastructure to cloud-based solutions, which has increased productivity, teamwork, and patient care. Cost-effectiveness is one of the main factors driving the market for cloud computing in healthcare. Healthcare organisations can now pay for computing resources on a pay-as-you-go basis thanks to cloud computing, which eliminates the need for significant upfront expenditures in hardware and infrastructure. This strategy is appealing to organisations of all sizes since it lowers operational and maintenance costs. The exponential growth of digital healthcare data has presented a significant issue for data management and storage in the healthcare sector. In order to handle the massive volumes of data produced by wearable technology, medical imaging, genetic sequencing, and electronic health records, cloud computing offers scalable and secure storage solutions. Additionally, cloud platforms provide effective data access and administration, promoting interoperability and cooperation amongst healthcare providers. Important benefits of cloud computing are flexibility and scalability. Based on their changing demands, healthcare organisations may simply increase their computing power, storage, and applications. They are able to quickly deploy new services and apps and adjust to changing demands because to their agility. The improved cooperation and communication made possible by cloud-based technologies is a significant additional factor. In order to improve care coordination and patient outcomes, healthcare professionals can safely share patient information, research data, and best practises. Real-time communication is made possible by cloud-based collaborative technologies, opening the door to telemedicine and distant consultations.

Advanced data analytics and insights are also beneficial for the healthcare cloud computing business. Healthcare organisations can use machine learning algorithms and analytics tools to extract useful insights from their data by utilising cloud-based solutions. Predictive analytics, disease surveillance, personalised medicine, and population health management can all benefit from these insights, which will lead to better decision-making and patient care. Healthcare organisations place a high priority on security and privacy, hence cloud service providers heavily invest in effective security measures. Advanced encryption, access controls, and recurring security audits are provided by cloud systems to guarantee the confidentiality and integrity of healthcare data. The difficulty of regulatory compliance for healthcare organisations is lessened by the fact that many cloud providers also adhere to regulations that are specific to their business, including HIPAA. Critical healthcare data and applications are safeguarded and may be swiftly restored in the event of a natural disaster or system failure thanks to cloud-based backup and recovery solutions. Thus, driving the Healthcare Cloud Computing market revenue.

Healthcare Cloud Computing Market Segment Insights

Healthcare Cloud Computing Application Insights

The Healthcare Cloud Computing market segmentation, based on application includes non-clinical information systems and clinical information systems. The clinical information systems segment dominated the market, accounting for 67.5% of market revenue. The management and integration of patient-related data and clinical workflows are the main focuses of clinical information systems.

Figure 1 Healthcare Cloud Computing Market, by Application, 2023 & 2032 (USD Billion)

Healthcare Cloud Computing Market

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Healthcare Cloud Computing Deployment Insights

The Healthcare Cloud Computing market segmentation, based on deployment, includes private cloud, public cloud, and hybrid cloud. The private cloud category generated the most income (42.3%). Compared to other deployment approaches, it provides more security, control, and customization possibilities.

Healthcare Cloud Computing End User Insights

The Healthcare Cloud Computing market segmentation, based on end user includes healthcare providers and healthcare players. The healthcare providers segment dominated the market, accounting for 69.5% of market revenue. Hospitals, clinics, ambulatory care facilities, nursing homes, and other healthcare establishments that directly provide patient care services are referred to as healthcare providers.

Healthcare Cloud Computing Service Insights

The Healthcare Cloud Computing market segmentation, based on service includes IaaS, SaaS, and PaaS. The SaaS segment dominated the market, accounting for 41.4% of market revenue. SaaS solutions offer healthcare organizations ready-to-use software for a variety of tasks, including revenue cycle management, practice management, patient interaction, and electronic health records (EHR).

News: Microsoft has released fresh cloud-based features that enable payers to use data for improved member engagement and care management. The tech giant recently unveiled new AI capabilities for unlocking unstructured data to promote cancer studies and clinical trial matching. To expand further into the healthcare industry, Microsoft introduced its cloud service created especially for healthcare in 2020 and has been enhancing it ever since. Chatbots, Microsoft 365, Teams, and Azure are just a few of the services that Microsoft's Cloud for Healthcare combines.

Healthcare Cloud Computing Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Healthcare Cloud Computing Market dominated this market in 2022 (45.80%). This is owing to an increase in the advanced hospital infrastructure, huge financial commitments to healthcare IT, and early adoption of cloud technologies. Further, the U.S. Healthcare Cloud Computing market held the largest market share, and the Canada Healthcare Cloud Computing market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Healthcare Cloud Computing Market

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Healthcare Cloud Computing market accounts for the second-largest market share. Increase efforts to digitise, encouraging government programmes, and an emphasis on interoperability and data security. Further, the German Healthcare Cloud Computing market held the largest market share, and the UK Healthcare Cloud Computing market was the fastest growing market in the European region

The Asia-Pacific Healthcare Cloud Computing Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to the expansion of healthcare infrastructure, rising healthcare costs, and a growing degree of systemic digitization in healthcare. Moreover, China’s Healthcare Cloud Computing market held the largest market share, and the Indian Healthcare Cloud Computing market was the fastest growing market in the Asia-Pacific region.

Healthcare Cloud Computing Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Healthcare Cloud Computing market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Healthcare Cloud Computing industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Healthcare Cloud Computing industry to benefit clients and increase the market sector. In recent years, the Healthcare Cloud Computing industry has offered some of the most significant advantages to medicine. Major players in the Healthcare Cloud Computing market, including Nuance Communications, Cerner Corporation, Merge Healthcare Inc., Carestream Corporation, Oracle Corporation, Clear Data Networks Inc., Sectra AB, GE Healthcare, Microsoft Corporation, and Siemens Healthineers, and others, are attempting to increase market demand by investing in research and development operations.

Nuance Communications is a prominent technology company that offers advanced solutions in the healthcare cloud computing market. An emphasis on the healthcare industry, Nuance offers cutting-edge cloud-based solutions that try to increase patient outcomes, improve clinical documentation, and expedite workflows. The cloud computing solutions for the healthcare industry from Nuance, use artificial intelligence (AI) and natural language processing (NLP) technology to provide voice-activated virtual assistants, transcription services, clinical documentation improvement, and speech recognition. By automating and streamlining documentation processes, these technologies assist healthcare organisations in lowering administrative burden and freeing up physicians to devote more time to patient care. Healthcare providers can use the company's cloud-based solutions, such the Nuance Dragon Medical One, from any device with security and scalability, enabling flexibility and mobility. The electronic health records (EHR) systems are integrated with Nuance's solutions, facilitating frictionless data interchange and interoperability..

Merge Healthcare Inc, a subsidiary of IBM Watson Health, is a prominent player in the healthcare cloud computing market. The business specialises in offering cutting-edge cloud-based solutions for healthcare institutions, with a particular focus on clinical and medical imaging technologies. A full range of cloud-based imaging and interoperability solutions are provided by Merge Healthcare. Their cloud-based imaging solutions give healthcare practitioners the ability to securely store, manage, and share medical pictures online, enhancing accessibility and cooperation. These solutions aid in streamlining radiology workflows and enhancing diagnostic and patient care capacities. Merge Healthcare offers cloud-based clinical tools that help healthcare organisations manage electronic health records (EHR), clinical analytics, and population health management in addition to imaging technologies. They link their cloud solutions with current healthcare systems, enabling frictionless data interchange and interoperability throughout the care continuum.

Key Companies in the Healthcare Cloud Computing market include

  • Nuance Communications

  • Cerner Corporation

  • Merge Healthcare Inc

  • Carestream Corporation

  • Oracle Corporation

  • Clear Data Networks Inc.

  • Sectra AB

  • GE Healthcare

  • Microsoft Corporation

  • Siemens Healthineers

Healthcare Cloud Computing Industry Developments

October 2022 To help healthcare organisations create a more connected patient experience, Oracle provided industry-specific supply chain solutions for the healthcare industry. By streamlining planning, improving accessibility throughout the supply chain, and automating processes, the most recent sector-specific solutions that are a part of Oracle Fusion Cloud SCM meet the unique needs of healthcare organisations and help them provide better care to patients. 

Healthcare Cloud Computing Market Segmentation

Healthcare Cloud Computing Application Outlook

Healthcare Cloud Computing Deployment Outlook

  • Private Cloud

  • Public Cloud

  • Hybrid Cloud

Healthcare Cloud Computing End User Outlook

  • Healthcare Providers

  • Healthcare Players

Healthcare Cloud Computing Service Outlook

  • IaaS

  • SaaS

  • PaaS

Healthcare Cloud Computing Regional Outlook

  • North America

    • US.

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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