Healthcare Cloud Computing Market worth over $79bn by 2027

Healthcare Cloud Computing Market size is set to surpass USD 79 billion by 2027, according to a new research report by Global Market Insights Inc.
 

A regulatory framework is required for healthcare cloud computing and devices to consider concerns of potential harms and security to maximize use of this technology without causing harm to the users. A basic regulatory framework for both vendors and consumers with respect to safety, security and privacy will help in fostering innovation in cloud computing business.

The growing awareness pertaining to healthcare cloud computing has uplifted the market growth positively in developed countries. Cloud computing in combination with rapidly evolving technologies like internet of medical things, big data analytics, and artificial intelligence has enhanced the productivity and opened up numerous avenues of streamlining healthcare delivery. The significant growth in demand for healthcare services due to increasing prevalence of chronic diseases, aging populations, and comorbidities have led to the adoption of cloud computing in healthcare sector. The substantial increase in digitization of medical records; for instance, surge in the acceptance of electronic health records (EHR), electronic medical records (EMR), and personal health records (PHR) offers more voluminous and varied digital data to maximize the potential benefit of cloud solutions. In addition, the growing awareness pertaining to personalized healthcare through ubiquitous and secure data share has led to the significant demand for healthcare cloud computing. Cloud computing continues to allow a step-change in overall standards of public health, by allowing promotion of healthier lifestyles and preventative interventions among society.
 

Rising demand for cloud computing in nonclinical operations will boost the healthcare cloud computing market demand

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Nonclinical information system is projected to witness 13.2% growth rate till 2027 owing to increasing demand for advanced tools in nonclinical functions among healthcare organizations. Advantages of these systems in effective management of revenue cycle and easing the complex supply chain process to attain maximum marginal profit will further stimulate the industry growth potential in the upcoming period. Moreover, the utilization of cloud-based services in supply chain management leads to financial and operational benefits.
 

Browse key industry insights spread across 279 pages with 365 market data tables & 18 figures & charts from the report, “Healthcare Cloud Computing Market Size By Application (Clinical Information Systems {Health Information System, Telehealth, Picture Archiving & Communication System [PACS], Pharmacy Information Systems, Laboratory Information Management System, Radiology Information Systems, Computerized Physician Order Entry, Ambulatory or Outpatient CIS}, Nonclinical Information Systems {Revenue Cycle Management, Supply Chain Management Solutions}), By Service Model (Software as a Service [SaaS], Infrastructure as a Service [IaaS], Platform as a Service [PaaS]), By Deployment (Public Cloud, Private Cloud), By End-Use (Hospitals, Pharmacies, Diagnostic & Imaging Centers, Ambulatory Centers, Private Payers, Public Payers) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/healthcare-cloud-computing-market
 

Growing preference for Platform as a Service will spur the market value

The Platform as a Service in the healthcare cloud computing market is anticipated to attain a CAGR of 14.5% through 2027 led by various benefits including cost effective for creating, testing and launching applications, PaaS software’s are highly scalable and multi-tenant. It further allows easy migration to the hybrid cloud along with that PaaS allows healthcare providers to deploy and code applications quickly and efficiently.
 

Increasing usage of public cloud among healthcare organizations will propel the healthcare cloud computing market revenue

Public cloud segment accounted for USD 19 billion in 2020. The advantages associated with the public cloud in healthcare sector is that, it is the most scalable data storage solution which makes this popular for data migration and also for temporary projects. Organizations that are increasing their IT infrastructure, migrating or testing applications can have great assistance from the public cloud’s flexibility.
 

Rising implementation of EHRs in ambulatory centers will drive the market expansion

Healthcare cloud computing market for ambulatory centers are predicted to expand at 14.1% CAGR during 2021 to 2027. Growing availability of specialized solutions such as ambulatory EHRs that assist exponentially in storing the data will increase the implementation of healthcare cloud computing in these settings. Furthermore, cloud deployment assists ambulatory centers to run quickly with reduced upfront investment. Web-based applications designed explicitly for ambulatory centers outperform the older client server-based applications in user experience and capability. Thus, these factors are potentially uplifting the demand for cloud computing in healthcare.
 

Growing investments in Germany pertaining to IT infrastructure for hospitals is poised to fuel the market growth

Germany healthcare cloud computing market size was around 2 billion in 2020on account of the rising adoption of cloud computing technology in hospitals across the country. Increasing implementation of EHRs and growing applications of analytical IT solutions in health management to simplify workflow and also to influence the efficiency of processes are some of the factors boosting the market demand. Developments in healthcare IT infrastructure and the growing initiatives by private and public players are augmenting the market value positively. The surge in the spread of cloud computing with public cloud services in Germany provides hospitals more flexibility. Also, the increase in the IT budget of hospitals in the country will also play an essential role in this development. 
 

Companies are focusing on strategies and launch of innovative products to expand customer base

Some of the major players operating in the healthcare cloud computing market are Cisco Systems Inc., Amazon, Allscripts Healthcare Solutions Inc., PLEXIS Healthcare Systems, CareCloud Corporation, Siemens Healthineers among others. These industry leaders are offering innovative services in order to generate significant revenue in the market and increase their geographical presence.