Leading Players are Adopting Different Growth Strategies to Retain Their Places in Global Healthcare Cloud Computing Market

The healthcare cloud computing market is projected to reach USD 64.7 billion by 2025 from USD 28.1 billion in 2020, at a CAGR of 18.1%.

(EMAILWIRE.COM, June 22, 2021 ) Growth Boosting Factors:

The growth of Healthcare Cloud Computing Market is driven by the government initiatives to incorporate IT solutions in healthcare, benefits offered by cloud usage, growing burden of chronic diseases and the subsequent increase in patient data.

Global Key Players:

IBM (US), Carestream Health (US), athenahealth (US), CareCloud Corporation (US), Hyland Software (US), Siemens Healthineers (Germany), DXC Technology (US), eClinicalWorks (US), Orion Health (New Zealand), Koninklijke Philips NV (Netherlands), VEPRO Health Solutions (Germany), NTT DATA (Japan), Allscripts Healthcare Solutions (US), INFINITT Healthcare (South Korea), Fujifilm Holdings (Japan), GE Healthcare (US), EnSoftek (US), Sectra AB (Sweden), Dell Technologies (US), and NextGen Healthcare (US) are considered to be the leading players in the healthcare cloud computing market.

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International Business Machines Corporation (IBM) is one of the leading players in the healthcare cloud computing market. IBM has been in business since 1991 and has been offering technology and consulting services. With its presence in over 175 countries, IBM operates as an integrated enterprise.

IBM product portfolio comprises Cognitive Applications, Cloud & Data Platforms, and Transaction Processing Platforms and numerous other cloud-based services that offer digital transformation and secured hybrid cloud services. IBM’s Watson Assistant, a conversational AI platform, leverages the US CDC guidance to answer common questions regarding COVID-19 and improve user engagement. The company’s Rapid Supplier Connect, a blockchain-based network to help healthcare organizations and government agencies identify alternative vendors and strengthen the medical supply chain. The company focuses on development of a set of standards, policies, and services for the secure transport of health information across authorized care providers.

GE Healthcare held significant share in the healthcare cloud computing market in 2019. The company offers a wide range of products and services in the healthcare cloud computing market. The company’s leading position can be attributed to GE Health Cloud that delivers cloud-based healthcare-specific SaaS applications to connect clinicians with data, images, analytics and other care providers and increase effectiveness, efficiency, and collaboration across the care continuum.

The Mural Virtual Care Solution, introduced by the company in April 2020, offers clinical surveillance of ICU patients in a central place and provides a comprehensive view of each patient’s data across the healthcare facility. Moreover, in the wake of the COVID-19 pandemic, GE healthcare and Ford collaborated in March 2020, to increase the ventilator production and support clinicians and patients to fight against COVID-19.

NextGen Healthcare accounted for a considerable share in the healthcare cloud computing market in 2019. The company’s Patient Experience Platform offers telehealth and virtual visit capability to improve the efficiency of routine interactions between patients and the care providers with limited mobility. The Health Data Hub, launched by the company in 2018, is a cloud-based health information exchange platform that enables seamless interoperability among the healthcare providers for sharing and receiving patient information.

The company focuses on inorganic growth strategies in order to strengthen its position in the market. In light of the coronavirus pandemic, various health facilities in the US, such as Virginia Cardiovascular Specialists (VCS), Nevada Eye Physicians, and Capital Women’s Care, have implemented NextGen Virtual Visits to triage appointments for urgent needs and continue providing care and treatment to patients during the pandemic.

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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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