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Global Healthcare Cloud Computing Market to Reach US$ 80.2 Billion by 2027, Impelled by Continual Technological Advancements

Published on Jun 08, 2022

According to the latest report by IMARC Group, titled "Healthcare Cloud Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global healthcare cloud computing market reached a value of US$ 33.4 Billion in 2021. Cloud computing facilitates on-demand access to several resources that are stored at a data center managed by a cloud service provider. Its utilization in the healthcare industry involves the processing and managing of healthcare-related data over the remote server. It assists in securely storing digital data over the internet while enabling efficiency, reachability, scalability and collaboration in a cost-efficient manner across the industry. Additionally, it offers ample storage space and improved accessibility of records and information for healthcare professionals. The demand for healthcare cloud computing is rising due to the penetration of high-speed internet connectivity and the rising adoption of smartphones.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Healthcare Cloud Computing Market Trends:

The global market is primarily driven by significant growth in the healthcare industry. Rapid digitization across the globe has encouraged leading players to heavily invest in the deployment of cloud computing. Along with this, continual technological advancements and the integration of artificial intelligence (AI) and blockchain technology with healthcare cloud computing are creating a positive market outlook. Furthermore, the rapid outbreak of coronavirus disease (COVID-19) that has led to the increasing adoption of the work-from-home model has favorably impacted the market demand. In line with this, the widespread utilization of cloud computing in order to assist healthcare professionals in detecting and monitoring patients across multiple countries has positively influenced the market. Other factors, including continual improvements in the information technology (IT) sector, the increasing need for providing medical facilities across the rural and geographically extended locations, and extensive research and development (R&D) activities conducted by key players, are also contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 80.2 Billion by 2027, exhibiting a CAGR of 15.5% during 2022-2027.

Market Summary:

  • On the basis of the service model, the market has been segmented into software as a service, infrastructure as a service and platform as a service.
  • Based on the cloud deployment model, the market has been segregated into private cloud, public cloud and hybrid cloud.
  • On the basis of the application, the market has been classified into clinical information systems (computerized physician order entry, electronic medical records, radiology information system, pharmacy information system and others) and non-clinical information system (automatic patient billing, revenue cycle management, claims management and others).
  • Based on the end-user, the market has been bifurcated into healthcare providers and healthcare payers.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.   
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Allscripts Healthcare Solution Inc., Inc., Athenahealth Inc., CareCloud Inc., Cisco Systems Inc., Dell Technologies Inc., International Business Machines Corporation, Iron Mountain Inc., Koninklijke Philips N.V., Microsoft Corporation, Oracle Corporation and Siemens AG.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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