Global Healthcare Cloud Computing Industry is Eyeing for Major Revenue Gain in Five Years

Major Objectives Behind This Study:

To define, describe, and forecast the global healthcare cloud computing market by product, service model, deployment model, pricing model, component, and region.

To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).

To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall healthcare cloud computing market.

To analyze the opportunities for stakeholders and provide details of the competitive landscape for market leaders.

To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World

To profile the key players and analyze their market shares and core competencies.

To track and analyze competitive developments such as product launches, partnerships, agreements, collaborations, expansions, and acquisitions in the overall healthcare cloud computing market.

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Healthcare provider solutions segment is anticipated to be the fastest growing segment during the forecast period

The market is segmented into healthcare provider solutions and healthcare payer solutions, based on the product. The healthcare provider solutions segment is estimated to command the largest share of the market in 2020, and is projected to register the highest CAGR during the forecast period. Increasing adoption of clinical as well as non-clinical information systems among the healthcare providers to meet the changing regulatory standards, gaining data control, and managing costs while delivering higher customer satisfaction and service quality is expected to boost the segment growth during the forecast period.

Recent Developments in Healthcare Cloud Computing Industry:

In 2020, Allscripts (US) and Microsoft (US) extended their strategic alliance for five years to transform its cloud-based health IT solutions.

In 2020, British SWASH consortium of NHS Trusts (UK) has prolonged its radiology imaging contract with Sectra (Sweden) to consolidate its four existing solutions into one, for efficient access and collaboration around patient imaging and improved enterprise-wide access.

In 2020, NextGen Healthcare (US) partnered with Doctible (US) to offer a fully automated and integrated cloud-based system to support clinicians retain patients and boost the growth of small practices.

In 2019, IBM (US) acquired Red Hat (US) that enhanced IBM’s hybrid cloud portfolio and enabled the development of a next-generation multicloud hybrid platform

Asia Pacific to emerge as a potential market for healthcare cloud computing solutions

The global healthcare cloud computing market has been categorized on the basis of four major regional segments—North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to grow at the highest CAGR during the forecast period. The changing demographics in highly populous countries such as China and India, large volumes of patient data generated as a result of the growing disease burden in the region and various government initiatives focusing on healthcare digitization are driving the growth of the healthcare cloud computing market in the Asia Pacific. 

In addition, the current outbreak of COVID-19 in the region has resulted in the increased patient pool, leading to subsequent increase in telehealth and virtual care delivery options. Increasing investments for modernization of the country’s healthcare infrastructure is thus, expected to fuel the growth of the healthcare cloud computing market in the APAC region.

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Global Leaders:

The major players operating in the healthcare cloud computing market include IBM (US), CareCloud Corporation (US), athenahealth (US), Hyland Software (US), Siemens Healthineers (Germany), eClinicalWorks (US), Koninklijke Philips NV (Netherlands), NTT DATA (Japan), Allscripts Healthcare Solutions (US), Fujifilm Holdings (Japan), GE Healthcare (US), Dell Technologies (US) and EnSoftek (US).