Healthcare Cloud Computing Market to Witness Formidable Growth until 2025

Increasing high speed internet penetration to drive the growth of global healthcare cloud computing market

According to TechSci Research report, “Global Healthcare Cloud Computing Market By Component (Software v/s Services), By Delivery Model (Software-As-A-Service (SaaS), Infrastructure-As-A-Service (IaaS), Platform-As-A-Service (PaaS)), By Deployment Mode (On-Premise v/s Cloud), By Pricing Model (Pay-As-You-Go v/s Spot Pricing Model), By Application (Clinical Information System v/s Non-Clinical Information System), By End User (Hospitals & Clinics, Pharmacies, Ambulatory Centers, Diagnostic Centers, Others), By Region, Forecast & Opportunities, 2025”, the global healthcare cloud computing market is expected to grow at a formidable rate during the forecast period on account of the growing adoption of cloud computing across the globe. Additionally, access to advanced technologies such as machine learning and cloud reduces cost and improve flexibility, scalability, storage and flexibility. Furthermore, government initiatives that support data safety and integrity are anticipated to positively influence the market through 2025. However, issues related to data security & privacy and cyber threats might hamper the market growth during forecast period. Additionally, lack of interoperability and industry standards might further restrict the market growth over next few years.

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The global healthcare cloud computing market is segmented based on component, delivery model, deployment mode, pricing model, application, end user, company and region. Based on component, the market can be bifurcated into software and services. The services segment is expected to register significant growth on account of their recurring nature. Additionally, they provide quick access to business applications. Based on delivery model, the market can be categorized into software-as-a-service (SaaS), infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS)). The SaaS segment is expected to dominate the market owing to the associated benefits such as high level of security, affordable ownership costs, lesser deployment time, among others. On the other hand, the IaaS model is expected to grow during the next five years since it does not require upfront charges, bandwidth utilization fees, among others, which have increased its adoption rate. Based on deployment mode, the market can be divided into on-premise and cloud. The cloud segment is expected to dominate the market on account of the benefits associated with cloud such as data security & privacy, reduced operational risks, scalability, 24/7 availability, among others. Based on pricing model, the market can be split into pay-as-you-go and spot pricing model. The pay-as-you-go segment is expected to hold a significant market share until 2025 since it allows the healthcare organizations to provide latest software solutions while keeping operating costs to maximum. Based on application, the market can be grouped into clinical information system and non-clinical information system. The clinical information system is expected to dominate the market through 2025 on account of growing demand for maintaining and storing raw data generated in the form of prescription and other patient related information obtained from the physicians & consultants. On the other hand, the non-clinical information system is expected to register significant growth owing to its increasing use in maintaining the administrative data generated in the hospitals. Also, insurance payers and healthcare providers use this system to track patient payment details, revenue generated through reimbursement policies, among others. Based on end user, the market can be fragmented into hospitals & clinics, pharmacies, ambulatory centers, diagnostic centers and others. The hospitals & clinics segment is expected to dominate the market on account of the increasing use of cloud computing solutions in maintaining patient information related to the disease, treatment and medication given. Additionally, increasing number of admissions are further expected  to drive the growth of segment through 2025. The pharmacies segment is expected to witness significant growth on account of the growing need to maintain the prescription based data. Additionally, cloud computing can help in tracking historical data also such as drugs sold, payment info, among others.

IBM Corporation, Carestream Health, Inc, Athenahealth, CareCloud Corporation, Siemens Healthineers AG, eClinicalWorks, Koninklijke Philips N.V., Allscripts Healthcare Solutions, Inc, GE Healthcare, NTT DATA Corporation, Sectra AB, NextGen Healthcare, Inc., DXC Technologies Company, INFINITT Healthcare Co. Ltd., Hyland Software Inc., Orion Health Group, Fujifilm Holdings Cooperation, Vepro eHealth Solutions, EnSoftek, Inc., Dell Technologies, Inc.and others are some of the leading players operating in global healthcare cloud computing market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“North America is expected to dominate the global healthcare cloud computing market during the forecast period, owing to the increasing adoption of healthcare IT services in the region. Additionally, growing government support in the form of policies, initiatives and funding in the region is further anticipated to spur the market. Furthermore, growing shift towards electronic health records is anticipated to bolster the market growth over the next few years. Also, the key vendors operating in the market are expanding their business in the region creating lucrative opportunities for the growth of market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Healthcare Cloud Computing Market By Component (Software v/s Services), By Delivery Model (Software-As-A-Service (SaaS), Infrastructure-As-A-Service (IaaS), Platform-As-A-Service (PaaS)), By Deployment Mode (On-Premise v/s Cloud), By Pricing Model (Pay-As-You-Go v/s Spot Pricing Model), By Application (Clinical Information System v/s Non-Clinical Information System), By End User (Hospitals & Clinics, Pharmacies, Ambulatory Centers, Diagnostic Centers, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global healthcare cloud computing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global healthcare cloud computing market.

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