Healthcare Cloud Computing Global Market Report 2024

Healthcare cloud computing refers to integration of could computing services in healthcare which use remote servers accessed through the internet to store, manage, and process healthcare-related data. Healthcare cloud computing allows professionals and individuals to maintain electronic medical records for storing information about patient interactions, reduce data storage costs, offer superior data security, and more.

The main healthcare cloud computing deployment models include private cloud, hybrid cloud, and public cloud. A private cloud is a model of cloud computing where the infrastructure is dedicated to a single user organisation and offers more control over and better security for private cloud servers. These healthcare cloud computing services are used by end users such as healthcare providers and healthcare payers. The different pricing models include pay-as-you-go and spot pricing. The different healthcare cloud computing service models include software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), and platform-as-a-service (PaaS), which are used for applications that include clinical information systems and non-clinical information systems.

The healthcare cloud computing market research report is one of a series of new reports that provides healthcare cloud computing market statistics, including healthcare cloud computing industry global market size, regional shares, competitors with a healthcare cloud computing market share, detailed healthcare cloud computing market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare cloud computing industry. This healthcare cloud computing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The healthcare cloud computing market size has grown rapidly in recent years. It will grow from $36.27 billion in 2023 to $41.33 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to electronic health records (ehr) adoption, cost reduction initiatives, data security concerns, interoperability requirements, increased demand for storage and processing power.

The healthcare cloud computing market size is expected to see rapid growth in the next few years. It will grow to $74.36 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to adoption of telehealth services, ai and machine learning integration, remote patient monitoring solutions, edge computing in healthcare, increased focus on data analytics. Major trends in the forecast period include blockchain for healthcare data management, hybrid cloud deployments, personalized medicine platforms, mobile health (mhealth) applications, integration of internet of things (iot) in healthcare systems.

The rise in the adoption of information technology in the healthcare sector is significantly driving the growth of the healthcare cloud computing market. Information technology has paved the way for more precise healthcare services that help patients attain easy and quick access to various healthcare facilities. The most common examples of health information technology are electronic health records (EHRs), e-prescriptions, and other tech tools that help patients meet health goals such as managing blood sugar levels or quitting smoking. According to the 2021 Accenture health and life science experience survey of 1,800 people in the United States, nearly 26% said their access to healthcare has been even better with digital adoption since the onset of the COVID-19 pandemic. Thus, a rise in the adoption of information technology in the healthcare sector is expected to drive the healthcare cloud computing market growth.

Increase in digital transformation is expected to propel the growth of the healthcare cloud computing market going forward. Digital transformation is the process of leveraging digital technologies, strategies, and tools to fundamentally change how organizations operate, deliver value to their customers, and interact with their stakeholders. Healthcare cloud computing plays a pivotal role in the digital transformation of the healthcare industry. It enables healthcare providers to modernize their operations, streamline data management, and enhance patient care through the adoption of electronic health records (EHRs), telemedicine, and data analytics. Cloud-based solutions offer scalability, interoperability, and secure data storage, facilitating the seamless exchange of patient information and the integration of advanced technologies like artificial intelligence and telehealth. For instance, in November 2022, Zippia, a USA-based online recruitment services company published a report, according to which $1.5 trillion was spent on digital transformation globally in 2021 and global spending on digital transformation is expected to reach $6.8 trillion by 2023. Therefore, increase in digital transformation is driving the healthcare cloud computing market.

Technological advances in healthcare infrastructure are a key trend gaining popularity in the healthcare cloud computing market. Major companies operating in the healthcare cloud computing sector are focused on developing new technological solutions to strengthen their position. For instance, in September 2021, a US-based neuroscience software company, MetaCell, introduced MetaCell Cloud Hosting, offering advanced cloud computing solutions to facilitate research and innovation in life science and healthcare organizations of all sizes.

Major companies in the healthcare cloud computing market are launching innovative products, such as healthcare cloud platform, to remain profitable in the healthcare cloud computing market. A healthcare cloud platform is a digital infrastructure that integrates and analyzes healthcare data to tailor medical treatments and drug development strategies to individual patient needs. For instance, in March 2023, Fujitsu Limited, a Japan-based multinational information and communications technology company, launched a cloud-based platform for promoting personalized healthcare and drug development. The new platform allows users to securely collect and leverage health-related data to promote digital transformation in the medical field. The new platform allows safe aggregation of health-related data and the automatic conversion of medical data from electronic medical records at medical institutions to comply with the HL7 FHIR next generation standards framework. Patients can securely store personal health information, such as vital signs, step counts, and calories, with their consent. This helps pharmaceutical companies and medical institutions conduct data analysis and research and development (R&D) to find new drugs and develop more personalized healthcare.

In June 2022, Oracle, a USA-based computer technology company acquired Cerner for approximately $28 billion. The acquisition aims to assist Oracle to enter the healthcare industry and scale up its cloud business in the hospital and health system market. Cerner is a USA-based company operating in health information technology platform.

Major companies operating in the in the healthcare cloud computing market report are International Business Machines Corporation, Onex Corporation, Athenahealth Inc., Siemens AG, GE Healthcare Company, Cisco Systems Inc., Iron Mountain Inc., Microsoft Corporation, Oracle Corporation, CareCloud Corporation, ClearDATA, Dell Technologies Inc., Agfa-Gevaert N. V, VMware Inc., Allscripts Healthcare Solutions Inc., Amazon Web Services Inc., eClinicalWorks, Cerner Corporation, Salesforce Inc., Google LLC, Hewlett Packard Enterprise Development LP, Fujitsu Limited, NTT DATA Corporation, Citrix Systems Inc., Nutanix Inc., Hitachi Ltd., Pure Storage Inc., Lenovo Group Limited, Huawei Technologies Co. Ltd., Zscaler Inc.

Asia-Pacific was the largest region in the healthcare cloud computing market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the healthcare cloud computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The healthcare cloud computing market includes revenues earned by entities by providing on-demand hosted services, quick access to business applications, customer relationship management (CRM), on-demand computing, large storage for medical facilities, secured web-based services and deployment of cloud applications. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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