Healthcare Cloud Computing Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR41148

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The healthcare cloud computing market size has the potential to grow by USD 25.54 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This healthcare cloud computing market research report analyzes the market’s competitive landscape and offers information on several market vendors, including Allscripts Healthcare Solutions Inc., Amazon Web Services Inc., athenahealth Inc., Carestream Health Inc., General Electric Co., IBM Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., and Siemens Healthineers AG. Also, the report provides a detailed analysis of the market by product (SaaS, IaaS, and PaaS) and geography (APAC, Europe, MEA, North America, and South America).

Statistical Analysis of Healthcare Cloud Computing Market

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Market Competitive Analysis

The healthcare cloud computing market is fragmented. Market vendors are offering advanced EHR solutions to enable patient information management of rural and community healthcare organizations. IBM Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., and Siemens Healthineers AG are some of the major market participants. Factors such as the integrated service offering for the healthcare industry will offer immense growth opportunities to market vendors. However, challenges such as shortage of cloud professionals in the healthcare industry will challenge the growth of the market participants. To boost the healthcare cloud computing market demand, vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

This healthcare cloud computing market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies which will help clients improve their market position. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this report includes information on the upcoming healthcare cloud computing market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This healthcare cloud computing market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Allscripts Healthcare Solutions, Inc.
  • Amazon Web Services, Inc.
  • athenahealth Inc.
  • Carestream Health Inc.
  • General Electric Co.
  • IBM Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • Salesforce.com Inc.
  • Siemens Healthineers AG

Healthcare Cloud Computing Market: Segmentation by Region

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North America was the largest healthcare cloud computing market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing adoption of cloud computing by healthcare institutes and increasing launch of various cloud computing products are some of the signifcant factors fueling healthcare cloud computing market growth in this region.

Almost 40% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for healthcare cloud computing in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

Healthcare Cloud Computing Market: Segmentation by Product

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SaaS solutions held the major share, owing to their easy deployment, less lead time compared with on-premises software solutions, and the service provider's ownership of maintenance and support tasks. Healthcare organizations adopt SaaS-based solutions for streamlining their CRM, accounting, payroll, SCM, and healthcare information systems. With the high potential for cloud computing in healthcare, numerous vendors are providing SaaS-based products for healthcare organizations.

Market growth in this segment will be faster than the growth of the market in the IaaS and PaaS segment. This report provides an accurate prediction of the contribution of all the healthcare cloud computing market segmentation.

Healthcare Cloud Computing Market Dynamics

The increasing cloud-assisted medical collaborations is one of the major factors driving the healthcare cloud computing market growth. Cloud computing is used to tackle the American opioid crisis in collaboration with healthcare professionals, policymakers, and technology providers. Some of the advantages of using cloud computing in the healthcare ecosystem include system scalability, cost savings, and enhanced flexibility. Also, organizations are increasingly moving toward conducting collaborative studies for tackling human healthcare issues effectively and quickly. The adoption of cloud-based modules will further help healthcare professionals in making precise decisions for opioid prescriptions for their patients.

The introduction of blockchain in cloud computing is one of the key healthcare cloud computing market trends expected to gain prominence in the market. The healthcare industry is increasingly deploying cloud computing systems to achieve greater data security, streamline claims, manage billings, and ensure drug supply chain and health research integrity. Blockchain offers superior data security and integrity to the systems in which it is employed due to its distributed nature. Market analysts predict that the factors mentioned above will prove critical in defining the growth of the healthcare cloud computing market size in the coming years.

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Key Highlights of the Healthcare Cloud Computing Market Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive healthcare cloud computing market growth during the next five years
  • Precise estimation of the healthcare cloud computing market size and its contribution to the parent market
  • Healthcare cloud computing market facts & figures and accurate predictions on upcoming trends and changes in consumer behavior
  • Estimation of potential opportunity for healthcare cloud computing market by product and geographic segments
  • Identification of key countries across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of healthcare cloud computing market vendors 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The healthcare cloud computing market growth will increase by $25.54 billion during 2019-2024.
The healthcare cloud computing market is expected to grow at a CAGR of 22.59% during 2019-2024.
Technavio has segmented the healthcare cloud computing market by product (SaaS, IaaS, and PaaS) and geographic (North America, Europe, APAC, South America, and MEA).
Allscripts Healthcare Solutions Inc., Amazon Web Services Inc., athenahealth Inc., Carestream Health Inc., General Electric Co., IBM Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., Siemens Healthineers AG are a few of the key vendors in the healthcare cloud computing market.
North America will register the highest growth rate of 39.82% among the other regions. Therefore, the healthcare cloud computing market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the healthcare cloud computing market growth are:
  • Increasing cloud assisted medical collaboration
  • Introduction of edge computing
The healthcare cloud computing market vendors should focus on grabbing business opportunities from the saas segment as it accounted for the largest market share in the base year.

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