Healthcare Cloud Computing Global Market Report 2022

Healthcare Cloud Computing Global Market Report 2022

  • June 2022 •
  • 175 pages •
  • Report ID: 6284243 •
  • Format: PDF
IBM, Carestream Health, athenahealth, Siemens Healthineers, GE Healthcare, Cisco Systems Inc., Iron Mountain Inc., Microsoft Corp., Oracle Corp., Care Cloud Corporation, ClearDATA, Dell, Agfa-Gevaert N.V., VMware, Inc., and Allscripts Healthcare Solution Inc. are major players in the healthcare cloud computing market.

The global healthcare cloud computing market is expected to grow from $28.36 billion in 2021 to $32.78 billion in 2022 at a compound annual growth rate (CAGR) of 15.60%. The change in growth trend is mainly due to companies’ stabilising their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $58.88 billion in 2026 at a CAGR of 15.77%.

The healthcare cloud computing market consists of the sales of healthcare cloud computing services by entities (organizations, partnerships, and sole proprietors) that use remote servers accessed through the internet to store, manage, and process healthcare-related data. Healthcare cloud computing allows professionals and individuals to maintain electronic medical records for storing information about patient interactions, reduce data storage costs, offer superior data security, and more.

The main healthcare cloud computing deployment models include private cloud, hybrid cloud, and public cloud.A private cloud is a model of cloud computing where the infrastructure is dedicated to a single user organisation and offers more control over and better security for private cloud servers.

These healthcare cloud computing services are used by end users such as healthcare providers and healthcare payers.The different pricing models include pay-as-you-go and spot pricing.

The different healthcare cloud computing service models include software-as-a-service (SaaS), infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS), which are used for applications that include clinical information systems and non-clinical information systems.

Asia-Pacific was the largest region in the healthcare cloud computing market in 2021.North America is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The rise in the adoption of information technology in the healthcare sector is significantly driving the growth of the healthcare cloud computing market.Information technology has paved the way for more precise healthcare services that help patients attain easy and quick access to various healthcare facilities.

The most common examples of health information technology are electronic health records (EHRs), e-prescriptions, and other tech tools that help patients meet health goals such as managing blood sugar levels or quitting smoking.According to the 2021 Accenture health and life science experience survey of 1,800 people in the United States, nearly 26% said their access to healthcare has been even better with digital adoption since the onset of the COVID-19 pandemic.

Thus, a rise in the adoption of information technology in the healthcare sector is expected to drive the market.

Technological advances in healthcare infrastructure are a key trend gaining popularity in the healthcare cloud computing market.Major companies operating in the healthcare cloud computing sector are focused on developing new technological solutions to strengthen their position.

For instance, in September 2021, US-based neuroscience software company, MetaCell, introduced MetaCell Cloud Hosting, offering advanced cloud computing solutions to facilitate research and innovation in life science and healthcare organisations of all sizes.

In July 2019, IBM, a US-based company that provides computer hardware, software, and hosting and consulting services, acquired Red Hat for $34 billion.Through this acquisition, Red Hat will be part of IBM’s expanding hybrid cloud portfolio and enable the development of a next-generation multi-cloud hybrid platform.

Red Hat is a US-based company that provides software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies.

The countries covered in the healthcare cloud computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.