Healthcare Cloud Computing Market - Increasing Cloud Deployment in the Healthcare Industry

Healthcare providers generate & collect a large amount of data from a vast array of internal sources, such as EHRs, radiology images, pharmacy sales, prescription information, lab tests, and insurance claims data.

(EMAILWIRE.COM, April 07, 2021 ) This study involved the four major activities in estimating the size of the Healthcare Cloud Computing Technique Market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Secondary Research:

The secondary research process involved the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Some non-exclusive secondary sources include Cloud Computing Association (CCA), Healthcare Information and Management Systems Society (HIMSS), American Health Information Management Association (AHIMA), American Medical Informatics Association (AMIA), Asia Cloud Computing Association (ACCA), European Coordination Committee of the Radiological, Electromedical and Healthcare IT Industry (COCIR), Dubai Health Authority (DHA), American Association of Healthcare Administrative Management (AAHAM), Institute for Health Technology Transformation (iHT2), WHO, OECD, Expert Interviews, and MarketsandMarkets Analysis.

Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the healthcare cloud computing market. It was also used to obtain important information about the key players and market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

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Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations operating in the healthcare cloud computing market. The primary sources from the demand side included industry experts, consultants, healthcare providers, healthcare payers, hospital administration, and government bodies. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends and key market dynamics.

Revenue Growth Expectations:

The global Healthcare Cloud Computing Market is expected to reach USD 64.7 billion by 2025 from USD 28.1 billion in 2020, at a CAGR of 18.1%.

Major Growth Boosters:

Growth in the healthcare cloud computing market can be attributed to factors such as technological upgradation in healthcare industry, increasing focus on healthcare digitization and increasing deployment of cloud-based HCIT solutions by healthcare providers to improve the care process.

Services component, owing to its increasing demand, is expected to occupy the largest market share in 2020

The Healthcare Cloud Computing Technique Market is segmented on the basis of component into software and services. The services component is expected to hold the largest share of the market in 2020 owing to the increasing reliance of HCIT industry on service providers for consulting, storage, implementation, training, maintenance, and regular technology upgrades. The demand for services is expected to grow rapidly in the coming years due to the introduction of complex software and the need to ensure the integration and interoperability of software, which requires extensive training and upgrades.

Geographical Growth Scenario:

The Asia Pacific healthcare cloud computing market to grow at the highest CAGR during the forecast period

While North America is expected to dominate the global healthcare cloud computing market in 2020, followed by Europe, the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high regional growth is attributed to the various initiatives undertaken in the APAC countries to implement new policies and to rework existing policies with public and private healthcare organizations to digitalize healthcare and increase operational efficiency. The technological revolution is thus expected to boost the healthcare cloud computing market growth in this region.

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Key Players:

The major players operating in the Healthcare Cloud Computing Technique 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).

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