Healthcare Cloud Computing Market Size to Worth USD 244.80 Bn by 2033

The global healthcare cloud computing market size is calculated at USD 70.54 billion in 2024 and is expected to reach around USD 244.80 billion by 2033, growing at a solid CAGR of 13.01% from 2024 to 2033.

Ottawa, May 13, 2024 (GLOBE NEWSWIRE) — The global healthcare cloud computing market size was valued at USD 61.78 billion in 2023 and is predicted to surpass around USD 220.91 billion by 2032, According to Precedence Research. The healthcare cloud computing market is driven by evolving healthcare infrastructure, government initiatives, and advanced technologies.

The healthcare cloud computing market encompasses the use of cloud computing services and technology in the healthcare business. This involves the use of cloud-based systems to store, manage, and process health information such as electronic health records (EHRs), medical pictures, patient data, and other healthcare-related information.

The Full Study is Readily Available | Download the Sample Pages of this Report@ https://www.precedenceresearch.com/sample/1081

Cloud computing in healthcare provides various advantages, including decreased healthcare costs, easy interoperability, ownership of patients’ data, improved cooperation, improved patient experience, and increased security. It offers real-time resource availability, no upfront costs, and the best environment for increasing storage without breaking the bank. Cloud solutions also make it easier to share data, democratize data, and adhere to security and privacy regulations.

Healthcare Cloud Computing Market Revenue (USD Million), By Application

Application 2020 2021 2022 2023
Clinical Information System 14,666.3 16,221.9 18,020.6 20,106.5
Non-clinical Information System 28,106.6 31,890.1 36,365.3 41,677.9

Healthcare Cloud Computing Market Revenue (USD Million), By Deployment

Deployment 2020 2021 2022 2023
Public 14,514.3 16,095.4 17,923.8 20,044.0
Private 22,361.3 25,207.3  28,553.9 32,502.5
Hybrid 5,897.3 6,809.3 7,908.1 9,237.9

Healthcare Cloud Computing Market Value (USD Million), By End User

End User 2020 2021 2022 2023
Healthcare Providers 23,525.2 26,700.7 30,467.0 34,951.5
Healthcare Payers 19,247.8 21,411.3 23,918.9 26,832.9

For more insights on the forecast market size and historical data (2024-2033) – Buy This Premium Research Report @ https://www.precedenceresearch.com/checkout/1081

Healthcare Cloud Computing Market Key Insights

  • North America dominated the healthcare cloud computing market in 2023.
  • Europe is estimated to show robust growth during the forecast period.
  • By product, the healthcare provider solutions segment dominated the market in 2023.
  • By application, a clinical information system is expected to show significant growth in the market.
  • By cloud deployment insight, the private cloud segment accounted for a considerable revenue stake in 2023.
  • By services insight, SaaS services dominated the market in 2023.
  • With end-user insight, healthcare payers are predicted to experience sustainable growth in the projected period.

Healthcare Cloud Computing Market Regional Stance

North America dominated the healthcare cloud computing market in 2023 as a result of its strong IT service acceptance and government backing. Patients are increasingly using patient portals, which allow instant access to personal health information, to improve their care, communication, and time management.

The U.S. is projected to lead the market in the future. The U.S., a global pioneer in medical research, health market innovations, and world-class care, is recognized for its high costs, administrative complexity, and disparities in outcomes. Unlike other developed health systems, the US system has evolved gradually over the twentieth and twenty-first centuries, resulting in a patchwork of new and old systems, layers of federal and state regulations, and an increasing number of organizations with a significant financial stake in shaping the US healthcare landscape.

Canada’s national health insurance program covers all legal residents, with 13 provinces administering their own plans with federal government funding. Plans must adhere to the Canada Health Act’s principles of comprehensiveness, universality, accessibility, portability, and public administration. About 30% of healthcare expenses are not covered by the public plan, and physicians are mostly private.

The healthcare cloud computing market in Europe is predicted to expand rapidly due to increased awareness of excellent healthcare solutions and rising demand for healthcare cloud computing software among the elderly. European countries run their own healthcare systems, with funding primarily coming from government programs, social health insurance (SHI), and private health insurance (PHI). Some use single-payer systems, while others have competing insurers. Political actions and GDP influence health spending, which varies in terms of services and cost-sharing.

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308

Healthcare Cloud Computing Market Scope

Report Highlights Details
CAGR 13.01% from 2024 to 2033
Healthcare Cloud Computing Market Size in 2023 USD 61.78 Billion
Healthcare Cloud Computing Market Size in 2024 USD 70.54 Billion
Healthcare Cloud Computing Market Size by 2033 USD 244.80 Billion
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered Product, Cloud Deployment, Application, Service, End User, Region
Region Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Healthcare Cloud Computing Market Report Highlights

Product Insight

The healthcare provider solutions segment dominated the healthcare cloud computing market in 2023. They are designed to help hospice and home care businesses flourish by enhancing revenue cycle operations, clinical compliance, coding, invoicing, and refund optimization. IaaS and PaaS are cloud computing services that offer computing, network, and storage resources on demand via the Internet. IaaS enables businesses to reduce IT infrastructure expenditures while being easily available.

Platform-as-a-Service (PaaS) provides a comprehensive cloud platform for developing, running, and administering applications, eliminating the burden of constructing and maintaining on-premises. Software-as-a-service (SaaS) provides online software access through a subscription, giving users access to enhanced technologies such as automation, streamlined workflows, and real-time collaboration. Hybrid cloud and multi-cloud computing architectures combine on-premises private cloud services with third-party, public cloud services to form a unified, flexible infrastructure for important applications and workloads.

Application Insight

The clinical information system segment is expected to show significant growth in the healthcare cloud computing market. A Clinical Information System (CIS) in healthcare has several benefits. It improves communication between caregivers and patients by establishing a centralized system for storing and exchanging patient data. This guarantees that everyone involved in a patient’s care is on the same page, which reduces errors and duplication of services. It also enhances care coordination by ensuring that all providers use the same data, which prevents service duplication. It also improves patient safety by making everyone aware of potential safety hazards. Finally, a CIS shortens data search time, allowing caregivers to focus on other activities.

Cloud Deployment Insights

The private cloud segment accounted for a considerable revenue stake in 2023. A private cloud is one in which a single business entity or end user has exclusive access to hardware and software resources in a specific cloud computing environment. It has various advantages, including predictable server usage, better resource utilization, lower costs, higher security, regulatory compliance, and legacy program compatibility.

Private cloud solutions are more suited for enterprises with predictable and consistent resource demands since they maximize resources while reducing cloud spending. Virtualization technology in the private cloud improves resource usage by allowing workloads to be distributed over multiple physical servers or changed to meet unique application requirements. Private cloud also saves money since workloads can be moved to various physical servers as demand changes.

Furthermore, private cloud environments can help organizations with compliance concerns, such as HIPAA and PCI compliance, by offering hosted private clouds. Private cloud environments can also provide increased security because they run on specific physical machines, making cloud access safer.

Services Insights

The SaaS services segment dominated the healthcare cloud computing market in 2023. SaaS technology provides various benefits to software developers, including shorter deployment times, accessibility, operational management, cost-effectiveness, scalability, data storage, analytics, and improved security. It enables 24/7 operation from any device while eliminating installation, equipment updates, and traditional licensing administration.

SaaS providers make significant investments in security technology and experience to ensure the security of their services. Furthermore, SaaS offers flexible payment options and pay-as-you-go models, allowing entrepreneurs to disrupt established markets while benefiting from competitive pricing.

Unlock the potential for future growth by requesting your personalized custom report Now! https://www.precedenceresearch.com/customization/1081

End User Insight

The healthcare payers segment is predicted to experience sustainable growth in the healthcare cloud computing market. Healthcare payers are entities that set service prices, collect payments, and process claims in the healthcare industry. They include Medicare, Medicaid, and health-care providers. Individuals, companies, or institutions that pay for care services provided by healthcare professionals are referred to as healthcare payers. There are three sorts of healthcare payers: private, commercial, and government.

Healthcare payers drive transformational projects that enhance patient outcomes by combining technological innovation and process transformation. They are critical in providing patients with enough health insurance coverage, balancing cost and quality of care, and bridging the gap between patients and healthcare providers.

Healthcare Cloud Computing Market Dynamics

Drivers

Increased security

Cloud providers improve security by storing data in numerous locations and making it available from anywhere with an internet connection. This is accomplished through a variety of means, including storing data on a remote server and encrypting all data transmitted over the internet. This improves the security of cloud computing systems while demanding more investment and time, resulting in the growth of the healthcare cloud computing market.

Quick solution

Cloud computing provides a quick and easy solution for clinical trial management by allowing speedier access to data and information. It has a great pace, making it excellent for healthcare, allowing clinicians to view patient records and medical information quickly rather than waiting for delivery via mail or fax. Cloud computing also requires less interaction, resulting in efficient and rapid information updates.

Restraint

Complex cloud functions

Cloud technology can help to improve hospital operations, but certain medical personnel may struggle to understand how to use it, thereby wasting resources. Hospital workers without IT skills may struggle with cloud functions, thus wasting resources.

Furthermore, erroneous interpretation of patient records may result in life-threatening circumstances for patients. Cloud computing has a tremendous impact on healthcare professionals and workers. Hence, complex cloud functions are a major restraint in the healthcare cloud computing market.

Browse More Insights:

  • Cloud Computing in Automotive Market: The global cloud computing in automotive market size was estimated at USD 6.1 billion in 2022 and is projected to hit around USD 29.70 billion by 2032, poised to grow at a CAGR of 17.2% from 2023 to 2032.
  • Cloud Computing in Energy Market: The global cloud computing in energy market size was valued at USD 1.1 billion in 2022 and is expected to reach around USD 2.84 billion by 2032, poised to grow at a CAGR of 10% from 2023 to 2032.
  • Green Technology and Sustainability Market: The global green technology and sustainability market size was accounted at USD 13.7 6billion in 2022 and it is expected to hit around USD 89.18 billion by 2032 with a remarkable CAGR of 20.60% from 2022 to 2032. 
  • Digital Oilfield Market: The global digital oilfield market size was valued at USD 29.29 billion in 2022 and it is projected to hit USD 57.89 billion by 2032 with a compound annual growth rate (CAGR) of 7.1% from 2023 to 2032.
  • Environmental Technology Market: The global environmental technology market size was valued at USD 575 billion in 2022 and it is expected to hit USD 880 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.40% from 2023 to 2032.
  • Pharma 4.0 Market: The global pharma 4.0 market size was estimated at USD 14.17 billion in 2023 and it is predicted to reach around USD 63.29 billion by 2032, growing at a CAGR of 18.1% during the forecast period from 2024 to 2032.
  • RFID in Healthcare Market: The global RFID in healthcare market size accounted for USD 4.69 billion in 2022 and it is expected to hit around USD 22.72 billion by 2032, poised to grow at a CAGR of 17.09% from 2023 to 2032.
  • Smart Healthcare Market: The global smart healthcare market size was valued at USD 259.14 billion in 2023 and is projected to reach USD 1,299.88 billion by 2033, growing at a CAGR of 17.4% between 2024 and 2033. 
  • Home Healthcare Market: The global home healthcare market size was valued at USD 373.56 billion in 2023 and is expected to reach around USD 1,469.92 billion by 2033 and is poised to grow at a CAGR of 14.81% from 2024 to 2033.
  • Blockchain IoT Market: The global blockchain IoT market is expected to drive growth at a CAGR of 54% during the estimated period and to reach USD 20,938.59 million by 2032 from USD 280 million in 2022.

Opportunity

AI and machine learning

Artificial intelligence and machine learning are transforming the healthcare industry by enhancing patient care, diagnostics, operational efficiency, and medical research. AI-powered diagnostic tools analyze medical pictures and patient data with high accuracy and speed, allowing for a wide range of commercial applications. AI-powered chatbots and virtual health assistants offer personalized symptom analysis, medical advice, and recommendations.

Decision support systems use artificial intelligence (AI) in electronic health records to aid in prescription prescribing. Predictive genomic analysis uses artificial intelligence algorithms to speed up drug discovery. Natural Language Processing (NLP) approaches to extract useful information from clinical notes and patient communications. To identify risk variables, personalized treatment strategies make use of AI algorithms.

Recent Developments

  • In April 2024, IHH Healthcare moved the databases of its Malaysian and Singaporean hospitals to the cloud. Singapore’s primary application workloads, such as EMR, enterprise data warehouse, and LIS, were moved to Oracle Exadata Database Service on the Oracle Cloud Infrastructure. Meanwhile, IHH Malaysia consolidated and transferred its data systems, such as patient management, appointment booking, LIS, and invoicing, to Oracle Exadata Cloud@Customer.
  • In November 2023, Sentara Health, a not-for-profit health organization, saved $5.8 million per year through cloud migration, resulting in a 30% reduction in data center costs. This reduction is due to lower personnel, software maintenance, data center equipment, and utilities. Sentara Health has also enhanced its recovery posture. The move is intended to increase operational efficiency, patient care, and data security through strategic engagement with partners and new initiatives.
  • In September 2023, Oracle Health provided cloud-based EHR capabilities to improve patient experience while reducing provider burden. The secure site includes document recognition and speech services, allowing patients to upload health information with no manual effort. Patients can use voice commands to book appointments and monitor lab results, allowing doctors to save time and improve efficiency.

Healthcare Cloud Computing Market Key Players

  • Cisco Systems Inc
  • Allscripts Healthcare Solution Inc
  • Microsoft Corp
  • Iron Mountain Inc
  • Qualcomm Inc
  • AthenahealthInc
  • GNAX Health
  • Dell Inc
  • EMC Corp
  • IBM Cor
  • VMware Inc
  • Oracle Corp
  • Others

Segments Covered in the Report

By Product

  • Healthcare Provider Solutions
    • Clinical Information Systems
      • EHR/EMR
      • Telehealth Solutions
      • PACS/VNA
      • PHM Solutions
      • LIS
      • PIS
      • RIS
    • Non-clinical Information Systems
      • RCM Solutions
      • HIE Solutions
      • Financial Management Solutions
      • SCM Solutions
      • Billings and Account Management Solutions
  • Healthcare Payer Solutions
    • Claims Management Solutions
    • Payment Management Solutions
    • Provider Network Management Solutions
    • Fraud Management Solutions
    • CMR Solutions

By Cloud Deployment

  • Public
  • Private
  • Hybrid

By Application

  • Clinical Information System
    • Telehealth Solutions
    • Computerized Physician Order Entry
    • Population Health Management (PHM) Solutions
    • Electronic Medical Records
    • Pharmacy Information System
    • Radiology Information System
    • Others
  • Non-clinical Information System
    • Revenue Cycle Management (RCM)
    • Billing & Accounts Management Solutions
    • Claims Management
    • Others

By Service

  • Platform as a service (Paas)
  • Infrastructure as a service (Iaas)
  • Software as a service (Saas)

By End Users

  • Healthcare Providers
  • Healthcare Payers

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/1081

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308

Unlocking Market Insights through Data Excellence 

The “Precedence Statistics” flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today’s dynamic and data-driven world. 

To Access our Premium Real-Time Data Intelligence Tool, Visit: http://www.precedencestatistics.com

About Us

Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Web: https://www.precedenceresearch.com

Our Blogs:

https://www.towardshealthcare.com

https://www.towardspackaging.com

https://towardsautomotive.com

For Latest Update Follow Us:

LinkedIn | Facebook | Twitter

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy