Healthcare Cloud Computing Market to accelerate at 6.57% CAGR, USD 8.35 Bn incremental growth expected during the forecast period | ZMR

The global healthcare cloud computing market size was valued at USD 30.5 billion in 2022 and predicted to surpass around USD 127.04 billion by 2030 with a registered CAGR of around 17.2% during the forecast period 2022 to 2028.

The pandemic of COVID-19 is predicted to have a generally good impact on the market. Cloud technologies, which provide data storage and computing resources controlled by external service providers to help improve the safety, quality, and efficiency of healthcare, are becoming more widely recognised. In the fight against COVID-19, this has become critical. Because of the massive number of research and clinical trials being conducted around the world, the research data created must be stored in a secure environment capable of storing vast amounts of data. Cloud computing addresses both space restrictions and security concerns by allowing large volumes of data to be stored on private and dedicated cloud channels.

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Factors that Promote Growth

Several healthcare organisations may now take advantage of the cloud’s benefits more than ever before, thanks to recent technical advancements and enhanced security. Remote monitoring, natural language processing APIs, and telehealth cloud technologies are examples of technological advancements that will continue to evolve in the coming years to meet unique digital health environments in a variety of ways. According to the HIMSS Analytics Survey, more than 83 percent of healthcare businesses now use cloud services.

Many healthcare organisations want to take cloud computing solutions to the next level by incorporating cutting-edge technologies. Rather than gathering and transmitting data to the cloud, the system examines and works with it on the spot. The spread of high-speed internet and the implementation of prospective controlling actions are also expected to boost the global healthcare cloud computing market’s growth possibilities. However, concerns about data portability, data privacy, and the growing number of cloud data breaches are stifling the global growth of the healthcare cloud computing market. Furthermore, a scarcity of skilled IT experts has slowed the adoption of this technology. Due to the difficulty in locating individuals with HIPAA experience, competent specialists are in high demand. The transition to cloud computing platforms is projected to be slowed by this skills shortage.

Insights into Key Companies and Market Share

Throughout the investigation time, rising public responsiveness and expanding regulatory compliance, upward venture from healthcare participants like GE Healthcare, IBM, Cisco, and government organisations are expected to generate a necessity for this system. Important industry players have introduced services and technologies that allow them to acquire and integrate vast amounts of healthcare data, which is beneficial to the sector’s success. Furthermore, such software provides healthcare practitioners with stress-free access to patient information, allowing them to make more precise decisions. Along with the aforementioned drivers, the increasing adoption rate of cloud computing software to improve hospital administration and fraud prevention is also paving the way for the expansion of the healthcare cloud computing business.

The following are some of the most well-known players in the healthcare cloud computing market:

• Cisco Systems Inc
• Allscripts Healthcare Solution Inc
• Microsoft Corp
• Iron Mountain Inc
• Qualcomm Inc
• AthenahealthInc
• GNAX Health
• Dell Inc
• EMC Corp
• IBM Cor
• VMware Inc
• Oracle Corp
• Others

The Report’s Covered Segments

This research project includes a comprehensive assessment of the market, as well as market predictions based on far-reaching qualitative and quantitative assessments. This report divides the market into two categories: emerging and niche markets. Furthermore, from 2016 to 2027, this research study assesses market size and development drift on a global, regional, and country level. This study breaks down the market and estimates revenue by categorising it by end-use and region, as follows:

By Product Type : ● Healthcare Provider Solutions ● Healthcare Payer Solutions

By Application : ● Clinical Information System ● Non-clinical Information System

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Important Developments

• In order to obtain market share in the Healthcare Cloud Computing Market, key companies are implementing new growth tactics such as new product releases and product innovation. In the healthcare sector, for example, Allscripts and Microsoft renewed their cooperation for another five years in 2020. This extension will aid in the development and implementation of cloud-based health IT solutions, which will help the company expand its operations.

• IBM bought Red Hat in 2019 to develop its hybrid cloud business. The acquisition will assist IBM in delivering the market’s next-generation hybrid multi-cloud platform.

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