Healthcare Cloud Computing Market Trends, Growth Insights And Forecast To 2027

Healthcare Cloud Computing Market Trends, Growth Insights And Forecast To 2027

Recent trends in the healthcare cloud computing market are driven by an increase in the number of product launches by key industry participants.

Considering an instance, in September 2020, Microsoft announced the launch of its new cloud service that was specifically designed for healthcare purposes. The Microsoft Cloud for Healthcare brings together a number of services comprising chatbots, Teams, and Azure IoT for helping healthcare organizations in the effective management of operations.

Other tech giants comprising Amazon Web Services and Google are also penetrating deeper into the healthcare sector in a battle for providing data storage and cloud computing technology to hospitals. The first industry-specific cloud service offered by Microsoft was announced in May 2020 as part of a public preview.

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Similar developments are expected to drive the demand for cloud computing in healthcare industry over the forthcoming years. On this note, the healthcare cloud computing market size is anticipated to surpass USD 79 billion by 2027, cites the latest research by Global Market Insights, Inc.,

This growth is on account of favorable initiatives by governments across the globe. Citing an exemplar, in the U.S., Congress passed the HITECH (Health Information Technology for Economic and Clinical Health) Act, which provided doctors and hospitals with an approximate sum of USD 20 billion for supporting the usage and installation of EHR.

Non clinical information systems are in high demand as it is difficult to manage the administrative data which is generated by hospitals. These systems are divided into supply chain management solutions, revenue cycle management solutions, and others.

The nonclinical information system segment recorded an appreciable CAGR of 13 per cent by 2027. Insurance payers and healthcare providers have adopted numerous revenue cycle management systems and healthcare cloud solutions for extensively tracking the revenue that is generated via reimbursement policies and patient payment details.

Multiple advantages comprising the protection of the cloud environment as well as data customization have been instrumental in influencing the deployment of private cloud solutions in the healthcare cloud computing industry.

Numerous healthcare providers have started offering private cloud computing solutions as they provide better control over infrastructure, cloud customers, and computational resources in comparison to the public cloud. The private cloud segment is anticipated to record approximately 13.5 per cent CAGR by 2027.

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However, the high cost related to private cloud might hinder segmental expansion in under-developed as well as developing economies.

The Asia Pacific healthcare cloud computing industry held over 20 per cent of the total market share in 2020 and is anticipated to register appreciable proceeds through the forecasted period. A rise in the number of government initiatives focused on digitization will drive healthcare cloud adoption in the region.

The escalating cases of COVID-19 in the APAC have led to an increase in the patient pool, leading to a subsequent upsurge in telehealth as well as virtual care delivery alternatives.

In a nutshell, multiple features of cloud computing systems comprising big data analytics, patient portals, and electronic medical records are expected to push healthcare cloud computing market size over the forecasted period.

Partial Chapter of the Table of Content

Chapter 2   Executive Summary

2.1    Healthcare cloud computing industry 360° synopsis, 2016-2027

2.1.1    Business trends

2.1.2    Application trends

2.1.3    Service model trends

2.1.4    Deployment trends

2.1.5    End-use trends

2.1.6    Regional trends

Chapter 3   Healthcare Cloud Computing Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016-2027

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.1.1    Growing adoption of cloud computing software by healthcare professionals

3.3.1.2    Increasing awareness regarding availability of technologically upgraded healthcare cloud computing software in developed economies

3.3.1.3    Favorable regulatory scenario

3.3.1.4    Rising government initiatives that support data safety and integrity

3.3.2    Industry pitfalls and challenges

3.3.2.1    Data safety concerns associated with the cloud computing software

3.4    Growth potential analysis

3.4.1    By application

3.4.2    By service model

3.4.3    By deployment

3.4.4    By end-use

3.5    COVID-19 impact analysis

3.6    Porter’s analysis

3.7    Industry trends

3.8    Healthcare cloud computing ecosystem

3.9    Health cloud computing SWOT analysis

3.10    Healthcare supply chain management

3.11    Regulatory scenario

3.11.1    U.S.

3.11.2    Europe

3.12    Technology landscape

3.13    Competitive landscape, 2019

3.13.1    Company matrix analysis, 2019

3.14    PESTEL analysis

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