Healthcare Cloud Computing Market, By Component (Services and Software), By Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), By Application (Clinical Information Systems, and Nonclinical Information Systems), By End-use (Hospitals, Pharmacies, Diagnostic & Imaging Centers, Ambulatory Centers, Private Payers, and Public Payers) – By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Market Trends, Analysis, and Forecast Till 2029.

Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user. The cloud computing is generally used to describe data centers available to many users over the Internet. Large clouds, predominant today, often have functions distributed over multiple locations from central servers. University of Pittsburgh Medical Center (UPMC) in the last quarter of 2019 invested billions to transform its hospitals digitally across all its locations. Growth in the healthcare cloud computing market can be attributed to factors such as technological upgradation in healthcare industry, increasing focus on healthcare digitization and increasing deployment of cloud-based HCIT solutions by healthcare providers to improve the care process.

Impact of COVID19 pandemic on market

At the starting of 2020, COVID-19 disease began to spread around the world; many more peoples are infected with COVID-19 disease, and major countries around the world send the orders to companies for employee prohibition and work stoppage. While many organizations are finding it difficult to run smoothly, the companies that routine for cloud computing infrastructure are functioning well. Cloud computing helps in hassle-free data storage and backup because of its scalability, and also enables one to scale back during hectic days. Many healthcare providers giving consultation over video conferencing and phone calls, in place of this pandemic, the growth of healthcare cloud computing market is likely to augment considerably over the forecast period.

Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user. The cloud computing is generally used to describe data centers available to many users over the Internet. Large clouds, predominant today, often have functions distributed over multiple locations from central servers. University of Pittsburgh Medical Center (UPMC) in the last quarter of 2019 invested billions to transform its hospitals digitally across all its locations. Growth in the healthcare cloud computing market can be attributed to factors such as technological upgradation in healthcare industry, increasing focus on healthcare digitization and increasing deployment of cloud-based HCIT solutions by healthcare providers to improve the care process.

The growing demand-supply gap in the healthcare industry has led to an increased need for IT, boosting the adoption of cloud computing in this industry. The rising demand for cloud-based information systems is expected to boost the market. Technologically advanced healthcare infrastructure, especially the hospitals in developed countries, is one of the key factors amend market demand. With the rising population and volume of patient information, integration of data and having real-time access has become the need of the hour. An increase in investments by several private and public organizations in healthcare IT infrastructure is also one of the factors expected to positively impact growth in the near future. Teleradiology, audio/video conferencing, telesurgery are the recent advancements in the global healthcare cloud computing market. These services not only allow patients to get clinical treatment without going to healthcare professionals but also help medical specialists share opinions & consult others on complex cases. Digital medical libraries offer a variety of services, such as query languages, library management systems, and indexing services, which enables physicians to improve their practice.

However, a major concern related to cloud solutions is that the data hosted by vendors is not as secure as data stored on-premise. Patient information is considered sensitive, and a high degree of privacy needs to be maintained so that this information is accessible to authorized users only.

The global healthcare cloud computing market is segmented based on the component, deployment, application, end-user and region.

Base on the component, the global market is segmented into services and software. In the service model, the market is sub segmented into software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS). The services accounted for the largest share of the market in 2019 leads to its several advantages over on-premise solutions, such as security, lower total cost of ownership, faster deployment time, and limited up-front capital expenses.

On the basis of deployment the healthcare cloud computing market is divided into public cloud, private cloud and hybrid cloud. The private cloud deployment model is expected to hold the largest market share in 2020 because private cloud offers high-security options and provides control over the network. The private cloud storage works well for larger organizations that have IT staff and security expertise.

Depending upon the application the target market is explored into clinical information system and nonclinical information system. The high growth rate of this segment can be attributed to demand for cloud-based CIS and NCIS solutions lead to its benefits, such as on-demand storage, smooth integration of applications, effective migration strategies, compliance, data control, and security.

The end user segmentation is further sub segmented into Hospitals, Pharmacies, Diagnostic & Imaging Centers, Ambulatory Centers, Private Payers, and Public Payers.

Regional insights:

According to the region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the overall healthcare cloud computing market. Growing adoption of services and expanding applications of analytical IT solutions in health management to streamline workflow as well as improve the efficiency of processes are among key factors that can be attributed to the high market share. Asia Pacific is anticipated to be the fastest-growing market, with economies such as India, China, and Japan presenting lucrative opportunities.

Detail Segmentation:

Attribute	Details
The base year for estimation	2019
Forecast Period	2019 - 2029
Market Representation	Revenue in USD Million & CAGR from 2019-2029
Market Segmentation	By Component – Services and Software By Deployment –  Public Cloud, Private Cloud and Hybrid Cloud By Application –  Clinical Information Systems, and Nonclinical Information Systems By End User– Hospitals, Pharmacies, Diagnostic & Imaging Centers, Ambulatory Centers, Private Payers, and Public Payers By Region - North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Regional Scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered in the report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029.  For the purpose of this study, has segmented the global healthcare cloud computing market report based on component, deployment, application, end user and region.

Global Healthcare Cloud Computing Market, By Component:

• Services
• Software

Global Healthcare Cloud Computing Market, By Deployment:

• Public Cloud
• Private Cloud
• Hybrid Cloud

Global Healthcare Cloud Computing Market, By Application:

• Clinical Information Systems
• Nonclinical Information Systems

Global Healthcare Cloud Computing Market, By End User:

• Hospitals
• Pharmacies
• Diagnostic & Imaging Centers
• Ambulatory Centers
• Private Payers
• Public Payers

Global Healthcare Cloud Computing Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Key players in the global healthcare cloud computing market include IBM (US), athenahealth (US), Hyland Software (US), Siemens Healthineers (Germany), eClinicalWorks (US), Carestream Health (US), Allscripts Healthcare Solutions (US), Koninklijke Philips NV (Netherlands), Fujifilm Holdings (Japan), GE Healthcare (US). Key players are expanding strategic alliance there to transform its cloud-based health IT solutions. For instance, in 2020, Allscripts (US) and Microsoft (US) extended their strategic alliance for five years to transform its cloud-based health IT solutions.

• IBM
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Overview
  • Business Strategies
• Athenahealth
• Siemens Healthineers
• Koninklijke Philips NV
• Allscripts Healthcare Solutions
• Fujifilm Holdings
• GE Healthcare