Healthcare Cloud Computing Market (2024-2031)
Healthcare Cloud Computing Market is expected to reach $131.8 billion by 2031, at a CAGR of 18.4% from 2024 to 2031.
- Published
- Jan 2024
- Pages
- 275
- Format
- PDF + Excel
- Report ID
- MRICT - 104299
- Base year
- 2023
- 2031 · FORECAST
- $131.8B
- 2031
- $131.8B
- CAGR 2024–2031
- 18.4%
2023 baseline · 2024–2031 forecast at 18.4% CAGR · hover a bar for the value
Key highlights
By Offering: In 2024, the Solutions Segment to Dominate the Healthcare Cloud Computing Market
By Service Models: In 2024, the Software-as-a-Service Segment to Dominate the Healthcare Cloud Computing Market
By Deployment Mode: In 2024, the Public Cloud Segment to Dominate the Healthcare Cloud Computing Market
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 275 |
| Format | |
| Forecast Period | 2024–2031 |
| Base Year | 2023 |
| CAGR (Value) | 18.4% |
| Market Size (Value) | USD 131.8 Million by 2031 |
| Segments Covered | By Offering · Solutions · Clinical Information Systems · Electronic Health Record Systems · Laboratory Information System · Telemedicine and Telehealth Platforms · Radiology Information System · Remote Patient Monitoring Systems · Clinical Decision Support Systems · Other Clinical Information Systems · Non-clinical Information Systems · Practice Management Solutions · Revenue Cycle Management Solutions · Supply Chain Management Solutions · Human Resources Management Solutions · Other Non-clinical Information Solutions · Healthcare Operation Management Solutions · Customer Relationship Management Solutions · Claims Management Solutions · Fraud Management Solutions · Network Management Solutions · Other Healthcare Operation Management Solutions · Services · Professional Services · Managed Services · By Deployment Mode · Public Cloud · Private Cloud · Hybrid Cloud · By Service Model · Software-as-a-Service · Infrastructure-as-a-Service · Business Process-as-a-Service · Platform-as-a-Service · By End User · Healthcare Providers · Healthcare Payers |
| Countries Covered | North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Singapore, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa |
| Key Companies | Amazon Web Services, Inc (U.S.) (a subsidiary of Amazon.com, Inc.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google LLC (U.S.), Alibaba Group Holding Limited (China), Oracle Corporation (U.S.), IRON MOUNTAIN INCORPORATED (U.S.), AT & T Inc. (U.S.), NVIDIA Corporation (U.S.), GE HealthCare Technologies Inc. (a subsidiary of General Electric Company) (U.S.), OSP (U.S.), Zymr Inc. (U.S.), athenahealth, Inc. (U.S.), eClinicalWorks, LLC (U.S.), and e-Zest Solutions Inc. (U.S.). |
Report overview
Segments covered: offering, business model, deployment mode, end user. Regions: North America, Europe, Asia-Pacific.
The growth of this market can be attributed to several factors, the growing need for personalized medicines and the increasing adoption of analytics and IoT in the healthcare sector. Moreover, the increasing demand for healthcare cloud computing solutions for clinical research & drug development and the growing use of blockchain technology for managing electronic health records are expected to offer growth opportunities for the players operating in this market.
Report infographic
Market dynamics
5 factors across 3 forcesIncreasing Adoption of Analytics and IoT in the Healthcare Sector Supporting Market Growth
Analytics and the Internet of Things (IoT) are integral components of healthcare cloud computing. These technologies are revolutionizing how healthcare data is collected, processed, and utilized. The technologies enable healthcare organizations to extract valuable insights from massive amounts of data generated by medical devices, wearables, and patient records, among other sources. IoT-enabled wearable devices and medical sensors continuously collect patient data such as heart rate, blood pressure, glucose levels, and activity patterns. This data is transmitted to the cloud, where it is analyzed to detect anomalies and trends, enabling timely interventions and personalized care plans.
Analytics involves the use of advanced algorithms and data processing techniques to derive meaningful insights from data. In healthcare, analytics tools are integrated with cloud computing platforms to analyze vast amounts of patient and clinical data. Healthcare organizations use predictive analytics to forecast disease outbreaks, patient readmissions, and treatment responses. This information aids in resource allocation and proactive patient management. Analytics tools analyze patient data, medical records, and research outcomes, enabling healthcare providers to make evidence-based decisions regarding diagnosis, treatment, and patient care plans. Thus, the increasing adoption of analytics and IoT technologies in the healthcare sector is driving the demand for healthcare cloud computing solutions, supporting the growth of this market.
Growing Need for Personalized Medicines Driving the Demand for Healthcare Cloud Computing Solutions
Healthcare cloud computing solutions support a wide range of applications, including personalized medicines. Cloud platforms allow for the integration of diverse clinical data sources, including Electronic Health Records (EHRs), imaging data, lab results, and patient-reported outcomes. By aggregating this data in the cloud, healthcare providers can gain a comprehensive view of a patient's health status, leading to more personalized treatment decisions. Cloud-based systems facilitate data sharing among healthcare professionals, researchers, and patients, enabling interdisciplinary collaboration, accelerating research, and allowing experts from different fields to contribute their insights for the development of personalized treatment strategies. Thus, healthcare cloud computing empowers healthcare professionals to deliver personalized treatments by considering each patient's unique genetic and clinical characteristics. These benefits are driving the demand for healthcare cloud computing solutions in the field of personalized medicine, accelerating the growth of this market.
Table of contents
12 chapters · 113 sections · 275 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Offering | Solutions | Services |
| By Service Model | Software-as-a-Service | — |
| By Deployment Mode | Public Cloud | — |
By Offering
- The Solutions Segment to Dominate the Healthcare Cloud Computing Market
- The solutions segment is expected to account for the largest share of 92.0% of the global healthcare cloud computing market.
- The large market share of this segment is attributed to the growing need for clinical information systems to support and streamline clinical operations, improve patient care, and enhance overall efficiency, the rising adoption of non-clinical information systems for managing administrative, financial, and operational aspects of healthcare organizations, and efforts by companies to provide healthcare operation management solutions for claims processing, member management, provider networks, and payment processing.
- However, the services segment is projected to register the highest CAGR during the forecast period due to the increasing need for professional services to adopt, implement, and optimize healthcare cloud computing solutions, the growing need for managed services such as data security and compliance, infrastructure scalability, cost optimization, data backup and recovery, and increasing need to offer partial or complete management of a client's cloud resources or infrastructure.
By Service Model
- The software-as-a-service segment is expected to account for the largest share of 48.6% of the global healthcare cloud computing market.
- The large market share of this segment is attributed to the increasing need to improve healthcare business operations, increase productivity, data security, and privacy for healthcare data and the growing need for improved data management.
- Additionally, this segment is expected to register the highest CAGR during the forecast period.
By Deployment Mode
- The Public Cloud Segment to Dominate the Healthcare Cloud Computing Market
- The public cloud segment is expected to account for the largest share of 41.8% of the global healthcare cloud computing market.
- The large market share of this segment is attributed to the secure and reliable remote access to healthcare systems, benefits offered by public healthcare cloud systems such as cost-effectiveness, scalability, and flexibility, and efforts by market players to launch healthcare cloud computing services.
- Additionally, this segment is expected to register the highest CAGR during the forecast period.
Geographic analysis
North America
Largest shareIn 2024, North America is expected to account for the largest share of 37.4% of the global healthcare cloud computing market. North America healthcare cloud computing market is estimated to be worth USD 15.1 billion in 2024. North America’s large market share is attributed to the presence of prominent players offering advanced healthcare cloud computing solutions. Furthermore, the high adoption rate of digital technologies and advanced healthcare systems, the surge in demand for telemedicine and remote patient monitoring solutions, and the increasing proliferation of cloud based EHR systems are supporting the market growth. In 2024, North America Region to Dominate the Healthcare Cloud Computing Market
Asia-Pacific
Fastest growthHowever, the Asia-Pacific region is projected to register the highest CAGR during the forecast period. The growth of this region is driven by the exerting efforts by market players to launch healthcare cloud computing solutions, Government initiatives and policies that support the adoption of healthcare cloud computing solutions, and the growing popularity of telemedicine and telehealth platforms across the region.
Competitive landscape
- July 2023
Amazon Web Services, Inc. (U.S.) launched AWS HealthScribe, a new HIPAA-eligible service that empowers healthcare software providers to build clinical applications that use speech recognition and generative AI to save clinicians time by generating clinical documentation.
- May 2023
Google LLC (U.S.) launched the Target and Lead Identification Suite, an AI tool for life science researchers to better identify the function of amino acids and predict the structure of proteins; and the Multiomics Suite, for discovering and interpreting genomic data, and designing personalized genomic treatments.
- April 2023
Oracle Corporation (U.S.) collaborated with Deloitte Touche Tohmatsu Limited (U.K.), a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax, and related services, to deliver better, more connected health systems.
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- Google LLC (U.S.)
- Alibaba Group Holding Limited · China
- Oracle Corporation (U.S.)
- IRON MOUNTAIN INCORPORATED (U.S.)
- AT & T Inc. (U.S.)
- NVIDIA Corporation (U.S.)
- OSP (U.S.)
- Zymr Inc. (U.S.)
- eClinicalWorks, LLC (U.S.)
Frequently asked questions
The healthcare cloud computing market study focuses on the market assessment and opportunity analysis through the sales of healthcare cloud computing across different region, and countries across different market segmentation, this study is also focused on competitive analysis for healthcare cloud computing based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies.
Cite this report
Meticulous Research. (2024). Healthcare Cloud Computing Market - Global Opportunity Analysis and Industry Forecast (2024-2031) (Report No. MRICT - 104299). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/healthcare-cloud-computing-market-5000