Cloud Computing Market in Healthcare Industry Size is Expected to Reach US$ 911.6 Bn by 2028, Rising

Author : Mansi Rajmane | Published On : 08 Mar 2024

The global industry was valued at US$ 383 billion in 2020, projected to grow at a CAGR of 10.8% from 2021 to 2028, reaching US$ 911.6 billion by 2028. The medical sector's rapid expansion due to the COVID-19 pandemic presents revenue opportunities for industry players.

Healthcare organizations (HCOs) often lack control over software or platforms compared to service providers, prompting providers to address this issue by offering greater control through multiple contracts. The healthcare industry is increasingly utilizing private cloud services to securely manage patient data and access digital patient records.

The cloud system offers healthcare organizations (HCOs) the flexibility to adjust their IT infrastructure, including user count, upgrades, and networking, as needed, without upfront planning or investment. This on-demand service allows HCOs to adapt to process changes quickly.

Artificial intelligence and machine learning drive the adoption of public cloud in healthcare, supported by the increasing number of hospitals and growth of the biopharmaceutical industry. This growth is fueled by the need for cost-effective and efficient IT delivery to manage complex systems, provide faster healthcare delivery, comply with regulations, and maintain patient data confidentiality.

Major Players:

CareCloud Corporation,ClearDATA Networks,Carestream Health, Inc.,AGFA Healthcare,Cisco Systems, Inc.,Merge Healthcare, Inc.,IBM Corporation,Intel Corporation,Microsoft Corporation,Oracle Corporation,Amazon Web Services,e-Zest,Kinvey,Salesforce

Market Segmentation:

• By Service Model
  • Infrastructure-as-a-Service (IaaS)
  • Platform-as-a-Service (PaaS)
  • Software-as-a-Service (SaaS)

• By Pricing Model
  • Spot Pricing or Subscription Model
  • Pay-as-you-go Model

• By Cloud Type
  • Public
  • Private
  • Hybrid

• By End-user
  • Clinical Information Systems (CIS)
    • EMR
    • PACS
    • RIS
    • Others
  • Non-clinical Information Systems (NCIS)
    • RCM
    • Claims Management
    • APB
    • Others

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Regional Overview:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

Market Trends:

Emerging trends in the cloud computing market in healthcare include the rise of telemedicine and remote patient monitoring, the increasing use of artificial intelligence and machine learning for data analysis, and the integration of Internet of Things (IoT) devices to enhance patient care and outcomes.

Future Outlook:

Looking ahead, the future of cloud computing in healthcare appears promising, with continued innovation, technological advancements, and strategic partnerships driving market growth. As organizations increasingly prioritize digital transformation and embrace cloud-based solutions, the healthcare industry is poised for a paradigm shift towards more efficient, accessible, and patient-centric care delivery models.

Key Market Study Points:

• Adoption trends and patterns across different segments
• Factors influencing decision-making and investment priorities
• Regulatory landscape and compliance requirements
• Competitive analysis and market positioning of key players
• Customer preferences and satisfaction levels