Emerging Trends in Healthcare Cloud Computing Market - Forecasted by IT Infrastructure, Healthcare Assets, Mobile Digital Devices and Electronic Health Records to 2023

Key factors driving growth of healthcare cloud computing market include increasing adoption of big data, wearable devices, and IoT in healthcare; advantages of cloud usage (such as improved storage, flexibility, and scalability of data).

The global healthcare cloud computing market is segmented by application, deployment model, pricing model, service model, component, end user, and region. Based on application, the market is segmented into clinical information systems and nonclinical information systems.

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Global healthcare cloud computing market expected to reach USD 44.93 billion by 2023 from USD 19.46 billion in 2018, at a CAGR of 18.2%. Growth of cloud computing market is majorly driven by factors such as increasing adoption of big data, wearable devices, and IoT in healthcare; advantages of cloud usage (such as improved storage, flexibility, and scalability of data); implementation of healthcare reforms like Patient Protection and Affordable Care Act; & dynamic nature of health benefit plan designs.

Hospitals are realizing the benefits of storing data off-site as it saves space (which can be utilized for accommodating more patients). Moreover, this approach does not require hospitals to maintain an in-house IT staff since the maintenance of data is generally outsourced to hosting vendors. Through cloud computing, healthcare organizations can almost instantaneously scale up or scale down their IT infrastructure (which includes processing power, storage, networking, and the number of users) and adjust it with consumption.

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Healthcare cloud computing market is segmented into clinical information systems & nonclinical information systems. In 2018, clinical information systems segment is expected to account for largest share of the global market. Large share of this segment can be primarily attributed to rising prevalence of chronic disease and rising geriatric population leading to increasing volume of patient data.

Some of players in global healthcare cloud computing market include CareCloud Corporation (US), ClearData Networks Inc. (US), Athenahealth (US), Cerner Corporation (US), Epic Systems Corporation (US), NextGen Healthcare (US), Carestream Corporation (Canada), Dell Inc. (US), DICOM Grid Inc. (US), INFINITT Healthcare (South Korea), Sectra AB (Sweden), Merge Healthcare Inc. (US), Siemens Healthineers (Germany), iTelagen Inc. (US), NTT DATA Corporation (Japan), Nuance Communications (US), and Ambra Health (US).

Target Audience are as follows Healthcare IT Providers, Healthcare insurance companies/payers, Healthcare institutions/providers (hospitals, medical groups, physician practices, diagnostic centers, and outpatient clinics), Research and development companies, Government bodies and municipal corporations, Business research and consulting service providers and Venture capitalists.

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North America held the largest share of the healthcare cloud computing market, followed by Europe. Factors such as the increasing adoption of EHRs among medical professionals and active participation by private sector players in the development of the healthcare industry in that region are contributing to the dominant share of this region.

Geographic segments in this report include North America, Europe, Asia Pacific, and the RoW. North America is expected to account for the largest share of the market in 2018. The large share of this region can primarily be attributed to the increasing adoption of EHRs among medical professionals and active participation by private sector players in the development of the healthcare industry in that region.

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