Healthcare Cloud Computing Market to Undergo Major Transformations in Near Future


Posted November 26, 2020 by mmvaidya

This study involved the four major activities in estimating the size of the healthcare cloud computing market.
 
Research Methodologies Followed:

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.

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.

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Recent Developments:

# In 2020, Allscripts (US) and Microsoft (US) extended their strategic alliance for five years to transform its cloud-based health IT solutions.

# In 2020, British SWASH consortium of NHS Trusts (UK) has prolonged its radiology imaging contract with Sectra (Sweden) to consolidate its four existing solutions into one, for efficient access and collaboration around patient imaging and improved enterprise-wide access.

# In 2020, NextGen Healthcare (US) partnered with Doctible (US) to offer a fully automated and integrated cloud-based system to support clinicians retain patients and boost the growth of small practices.

# In 2019, IBM (US) acquired Red Hat (US) that enhanced IBM’s hybrid cloud portfolio and enabled the development of a next-generation multicloud hybrid platform.

Major Growth Boosters:

The increasing adoption of big data analytics, wearable devices, and IoT in healthcare and the advantages of cloud usage, such as improved storage, flexibility, and scalability of data, technological advancements in healthcare infrastructure, and increasing cloud deployments in the healthcare industry are the key drivers of the healthcare cloud computing market growth. Rising patient population worldwide and subsequent increase in the burden on healthcare systems will further upsurge the demand for healthcare cloud computing solutions.

Expected Revenue Growth:

The market for healthcare cloud computing is expected to grow from USD 28.1 billion in 2020 to USD 64.7 billion by 2025, at a CAGR of 18.1% during the forecast period.

Geographical 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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Global Leaders:

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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Issued By Makarand Vaidya
Country United States
Categories Health , News , Research
Tags healthcare cloud computing , healthcare cloud computing market
Last Updated November 26, 2020