Healthcare Cloud Computing Market Size and Growth Forecast to 2023 - International Business Machines (IBM) Corporation, CareCloud Corporation, Nuance Communications, Agfa-Gevaert N.V., Merge Healthcare Inc., etc

Market Research Future (MRFR) has published a report stating that the global healthcare cloud computing market is marked to expand at a remarkable growth rate in the upcoming years. Increased adoption of internet of things (IoT) in the healthcare sector of developed and developing regions are leading to the increased reliance on cloud-based services in the healthcare sector. Rise in demand for cloud-based platform to manage a large amount of unstructured data in the healthcare sector is majorly propelling the growth of the global healthcare cloud computing market. Proliferation in service providers that are coming up with innovative and optimized cloud computing solutions is also fueling the expansion of the global cloud computing market.

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The increasing adoption of Internet of Things (IoT) has accelerated the integration of cloud computing in the healthcare sector. Cloud computing enables healthcare organizations to achieve economies of scale, minimize IT infrastructure costs, and increase scalability which is likely to expedite the revenue creation for the key vendors.

The market resonates strong growth opportunities at present and is expected to remain highly lucrative in the foreseeable future. The competitive landscape represents intense competition and is favorable for the entry of new vendors. The security of the confidential data is an area of concern for the market participants. Technological innovations are offered regularly for upgrading security and protection of the data. The trend is likely to perpetuate and augment the market in the forthcoming years.

Key Players for Global Healthcare Cloud Computing Market

The major players profiled by MRFR that are operating in the global healthcare cloud computing market are International Business Machines (IBM) Corporation, CareCloud Corporation, Nuance Communications, Agfa-Gevaert N.V., Merge Healthcare Inc., Carestream Corporation, Cerner Corporation, Microsoft Corporation, Oracle Corporation, ClearData Networks Inc., Sectra AB, GE Healthcare, athenahealth Inc., NextGen Healthcare, Siemens Healthineers, and Dell Inc.

Industry Updates:

In November 2018, ClearDATA, a Texas-based healthcare exclusive cloud provider, has secured USD 26 Mn in its latest funding as an investment for healthcare cloud computing services.

In December 2018, it has been announced that Magellan Health, an American for-profit managed healthcare company, is adopting software-as-a-service (SaaS) for identity management and other functions as a part of digital transformation.

Segments:

The global healthcare cloud computing market has been segmented on the basis of applications, deployment, services, and end-user. Based on applications, the global healthcare cloud computing market has been segmented into non-clinical information system (NCIS) and clinical information system (CIS). Among these, the clinical information system (CIS) segment commands for the major share in the global healthcare cloud computing market owing to the increased volume of patient data as a result of high prevalence of chronic diseases and rise in geriatric population. Based on deployment, the global healthcare cloud computing market has been segmented into private cloud, public cloud, and hybrid cloud. The private cloud segment is projected to account for the major share in the global healthcare cloud computing market owing to the higher adoption of this service due to its better security. Based on service, the global healthcare cloud computing market has been segmented into infrastructure-as-a-service (IaaS), software-as-a-service (SaaS), and platform-as-a-service (PaaS).

Regional Analysis:

Geographically, the global healthcare cloud computing market has been segmented into Latin America, Europe, North America, Asia Pacific and the Middle East and Africa. The North America region commands the major share in the global healthcare cloud computing market owing to the presence of well-developed healthcare sector, rapid adoption of cloud-based solutions, constant technological advancement and high concentration of developed economies that are expanding their funding for advancement of healthcare services in this region. The Asia Pacific region is expanding significantly in the global healthcare cloud computing market owing to the rapid development of healthcare sector in the emerging economies, rise in awareness regarding the benefits of cloud-based services, and emergence for sophisticated platform to maintain the large amount of healthcare data that is present in an unstructured manner in this region. The healthcare cloud computing market in the Europe region is expanding at a noteworthy growth rate owing to the increased availability of players that are providing cloud-based services for data storage and data management in the well-developed healthcare sector and increased healthcare expenditure by the population in this region. Poor economic conditions and low penetration of technologically advanced healthcare services in the underdeveloped countries are slowing down the growth of the healthcare cloud computing services in the Middle East and Africa region.

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