Worldwide Healthcare Cloud Computing Industry to 2025 - Featuring Sectra, GE Healthcare & Nextgen Healthcare Among Others
DUBLIN, Oct. 9, 2020 /PRNewswire/ -- The "Healthcare Cloud Computing Market by Product (EMR/EHR, Telehealth, RCM, HIE, CRM), Deployment (Private Cloud, Hybrid Cloud), Component (Software, Services), Pricing (Pay-as-you-go, Spot Pricing), Service (SaaS, IaaS) - Analysis & Global Forecasts to 2025" report has been added to ResearchAndMarkets.com's offering.
The global healthcare cloud computing market is projected to reach 64.7 billion by 2025 from USD 28.1 billion in 2020 at a CAGR of 18.1%.
Growth in the healthcare cloud computing market can be attributed to factors such as technological advancements in the healthcare sector, increasing adoption of healthcare IT solutions, and advantages of cloud usage, including improved storage, flexibility, and scalability of data. However, data privacy and security concerns as well as complex regulations governing cloud data centers may restrain market growth.
The COVID-19 pandemic has upended many lives and businesses on an unprecedented scale. However, the cloud computing industry has emerged stronger from this event. While many organizations are finding it difficult to run smoothly, the organizations that opted for cloud computing infrastructure are functioning well. Especially in the healthcare industry, where data serves as the primary asset today, storage and management of data is cost-prohibitive, thereby increasing the additional expenditures related to the requirement of expensive servers. In such cases, cloud computing assists in hassle-free data storage and backup because of its scalability. Moreover, with many healthcare providers giving consultation over video conferencing and phone calls, in lieu of this pandemic, the growth of the healthcare cloud computing market is likely to augment considerably over the forecast period.
The healthcare provider solutions segment is expected to hold the largest market share during the forecast period.
On the basis of product, the healthcare cloud computing market is segmented into healthcare provider solutions and healthcare payer solutions. The healthcare provider solutions segment that dominated the overall healthcare cloud computing market is further sub-segmented into clinical information systems and nonclinical information systems. Clinical information systems held the largest share of the cloud-based healthcare provider solutions market in 2019. The market share is attributed to the growing demand for improved patient safety and patient care, stringent regulations, and an increasing need for integrated healthcare systems.
The private cloud segment is expected to grow at the highest rate during the forecast period.
On the basis of deployment model, the healthcare cloud computing market is broadly segmented into the public cloud, private cloud, and hybrid cloud. The private cloud segment is estimated to account for the largest share of the healthcare cloud computing market in 2020, major factors being the highly sensitive nature of patient data which needs to be stored in a secure way to avoid any breach of data privacy, otherwise leading to legal ramifications.
The pay-as-you-go pricing model to garner a large market share during the forecast period.
On the basis of pricing model, the healthcare cloud computing market is segmented into pay-as-you-go and spot pricing. The pay-as-you-go segment held the largest share of the healthcare cloud computing market in 2019. The pay-as-you-go model helps healthcare providers to avoid capital lock-in on purchasing equipment, such as CPUs and servers, but utilize all these services on an on-demand basis by paying only for what they use.
The infrastructure-as-a-service (IaaS) segment to grow at the highest CAGR during the forecast period.
On the basis of service model, the healthcare cloud computing market is segmented into software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), and platform-as-a-service (PaaS). The IaaS segment is expected to grow at the highest rate during the forecast period. IaaS model does not need any upfront charges, bandwidth utilization fees, or minimum term commitments, owing to which the adoption of IaaS is expected to increase in the coming years.
The services segment to command a large market share during the forecast period.
On the basis of component, the healthcare cloud computing market is segmented into software and services. The services market held the largest share in 2019 and is projected to show a high CAGR during the forecast period. 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 proper integration and interoperability of software, which requires extensive training and upgrades.
The Asia Pacific healthcare cloud computing market is expected to grow at the highest rate during the forecast period.
Geographically, the healthcare cloud computing market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The Asia Pacific market is expected to grow at the highest rate during the forecast period. The high growth rate in APAC can be attributed to the increasing demand for advanced healthcare cloud computing solutions from key markets such as Japan and China and the large patient population in India. The growing prevalence of various chronic diseases, rising geriatric population, and increasing government focus on connected health are driving the healthcare cloud computing market growth in the Asia Pacific region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Healthcare Cloud Computing Market Overview
4.2 North America: Healthcare Cloud Computing Market, by Product, 2019
4.3 Healthcare Cloud Computing Market Share, by Product, 2020 Vs. 2025
4.4 Healthcare Cloud Computing Market Share, by Service Model, 2020 Vs. 2025
4.5 Healthcare Cloud Computing Market Share, by Pricing Model, 2020 Vs. 2025
4.6 Healthcare Cloud Computing Market Share, by Component, 2020 Vs. 2025
4.7 Healthcare Cloud Computing Market Share, by Deployment Model, 2020 Vs. 2025
4.8 Healthcare Cloud Computing Market: Geographic Growth Opportunities
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Big Data Analytics, Wearable Devices, and IoT in Healthcare
5.2.1.2 Better Storage, Flexibility, and Scalability of Data Offered by Cloud Computing
5.2.1.3 Increasing Cloud Deployment in the Healthcare Industry
5.2.1.4 Proliferation of New Payment Models and Cost-Efficiency of the Cloud
5.2.1.5 Dynamic Nature of Health Benefit Plan Designs
5.2.2 Restraints
5.2.2.1 Data Security and Privacy Concerns
5.2.2.2 Migration from Legacy Systems
5.2.2.3 Complex Regulations Governing Cloud Data Centers
5.2.3 Opportunities
5.2.3.1 Emergence of the Telecloud
5.2.3.2 Use of Blockchain in the Health Cloud
5.2.3.3 Bridging the Connectivity and Accessibility Gap
5.2.3.4 Formation of Accountable Care Organizations
5.2.4 Challenges
5.2.4.1 Interoperability and Portability Issues
5.2.4.2 Increased Dependence of Users on the Internet and Provider Renting Policies
5.2.4.3 Limited Technical Expertise in Developing Geographies
5.3 Impact of the COVID-19 Pandemic on the Healthcare Cloud Computing Market
5.3.1 Introduction
5.3.2 COVID-19 Driven Market Dynamics
5.3.2.1 Drivers and Opportunities
5.3.2.2 Restraints and Challenges
5.3.3 Healthcare Cloud Computing: COVID-19 Use Cases
5.4 Value Chain
5.5 Ecosystem
6 Healthcare Cloud Computing Market, by Product
6.1 Introduction
6.2 Healthcare Provider Solutions
6.2.1 Clinical Information Systems
6.2.1.1 Electronic Health Records/Electronic Medical Records
6.2.1.2 Picture Archiving & Communication Systems and Vendor-Neutral Archives (Pacs and Vna)
6.2.1.3 Population Health Management Solutions
6.2.1.4 Telehealth Solutions
6.2.1.5 Radiology Information Systems
6.2.1.6 Laboratory Information Systems
6.2.1.7 Pharmacy Information Systems
6.2.1.8 Other Clinical Information Systems
6.2.2 Nonclinical Information Systems
6.2.2.1 Revenue Cycle Management (RCM) Solutions
6.2.2.2 Financial Management Solutions
6.2.2.3 Health Information Exchange (Hie) Solutions
6.2.2.4 Supply Chain Management Solutions
6.2.2.5 Billing & Accounts Management Solutions
6.2.2.6 Other Nonclinical Information Systems
6.3 Healthcare Payer Solutions
6.3.1 Claims Management Solutions
6.3.1.1 These Solutions Help Healthcare Payers Efficiently Manage Claims Processing
6.3.2 Payment Management Solutions
6.3.2.1 Payment Management Solutions Connect Payers, Providers, Members, and Banks on a Single Integrated Network
6.3.3 Customer Relationship Management Solutions
6.3.3.1 Healthcare Payers Are Creating CRM Strategies to Meet the Unique Needs of Their Stakeholders
6.3.4 Provider Network Management Solutions
6.3.4.1 Provider Network Management Solutions to Offer a Reliable and Secure Connection Between the Provider-Payer Community
6.3.5 Fraud Management Solutions
6.3.5.1 Rising Cases of Insurance Fraud Are Driving Market Growth
7 Healthcare Cloud Computing Market, by Deployment Model
7.1 Introduction
7.2 Private Cloud
7.2.1 Private Cloud Segment to Account for the Largest Share of the Healthcare Cloud Computing Market During the Forecast Period
7.3 Hybrid Cloud
7.3.1 Hybrid Cloud Segment to Register the Highest CAGR During the Forecast Period
7.4 Public Cloud
7.4.1 Data Security and Privacy Concerns to Restrict the Growth of this Segment to a Certain Extent
8 Healthcare Cloud Computing Market, by Component
8.1 Introduction
8.2 Services
8.2.1 Consulting Services Are in High Demand, Especially in Developing Regions
8.3 Software
8.3.1 Rising Healthcare Costs Are a Key Driver for the Adoption of Software
9 Healthcare Cloud Computing Market, by Pricing Model
9.1 Introduction
9.2 Pay-As-You-Go Pricing Model
9.2.1 Pay-As-You-Go Pricing Model Segment to Account for the Largest Share During the Forecast Period
9.3 Spot Pricing Model
9.3.1 Spot Pricing Model Offers Flexibility and Unlimited Utilization of Services
10 Healthcare Cloud Computing Market, by Service Model
10.1 Introduction
10.2 Software-As-A-Service
10.2.1 Saas Segment Dominates the Healthcare Cloud Computing Market
10.2.2 Benefits of Saas
10.3 Infrastructure-As-A-Service
10.3.1 Iaas Segment to Register the Highest Growth During the Forecast Period
10.3.2 Benefits of Iaas
10.4 Platform-As-A-Service
10.4.1 Paas Simplifies Application Development and Deployment on the Cloud
10.4.2 Benefits of Paas
11 Healthcare Cloud Computing Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Rest of the World
12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Ranking Analysis of Markets Covered Under Cloud-Based Healthcare Provider Solutions
12.3.1 Hospital Emr Systems Market
12.3.2 Telehealth Market
12.3.3 Lis Market
12.4 Right to Win
12.5 Competitive Scenario
12.5.1 Partnerships, Collaborations, and Alliances
12.5.2 Agreements & Contracts
12.5.3 Acquisitions
12.5.4 Product Launches
12.5.5 Product Deployments
12.5.6 Expansions
12.5.7 Divestitures
12.6 Competitive Leadership Mapping (Overall Market)
12.6.1 Stars
12.6.2 Emerging Leaders
12.6.3 Emerging Companies
12.6.4 Pervasive
13 Company Profiles
13.1 International Business Machines Corporation (IBM)
13.2 Carestream Health, Inc. (A Subsidiary of Onex Corporation)
13.3 Athenahealth, Inc.
13.4 Carecloud Corporation
13.5 Siemens Healthineers Ag
13.6 Eclinicalworks
13.7 Koninklijke Philips N.V.
13.8 Allscripts Healthcare Solutions, Inc.
13.9 Ntt Data Corporation
13.10 Sectra Ab
13.11 GE Healthcare
13.12 Nextgen Healthcare, Inc.
13.13 Dxc Technology
13.14 Infinitt Healthcare Co. Ltd.
13.15 Hyland Software, Inc.
13.16 Orion Health Group
13.17 Fujifilm Holdings Corporation
13.18 Vepro Ehealth Solutions
13.19 Dell Technologies, Inc.
13.20 Ensoftek, Inc.
14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: The Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details
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