According to Meticulous Research®, the global healthcare cloud computing market is on track to reach $131.8 billion by 2031, growing at a CAGR of 18.4% from 2024 to 2031. This is detailed in their newly published report titled “Healthcare Cloud Computing Market by Offering (Solutions, Services), Business Model, Deployment Mode (Public Cloud, Hybrid Cloud, Private Cloud), End User (Healthcare Providers, Healthcare Payers), and Geography - Global Forecast to 2031.”
The market's expansion is driven by the rising demand for personalized medicine and the integration of analytics and IoT in healthcare. Despite these growth drivers, data security and privacy concerns pose significant challenges.
Opportunities for growth are provided by the increasing need for healthcare cloud solutions in clinical research and drug development, along with the growing use of blockchain for managing electronic health records. However, complexities in data migration and stringent regulatory compliance remain major hurdles.
The market is divided into offerings, service models, deployment modes, and end users. Offerings include solutions (encompassing both clinical and non-clinical information systems) and services (covering professional and managed services). Solutions are expected to dominate due to the need for efficient clinical operations. Managed services are projected to grow rapidly due to demands for data security, compliance, and cost optimization.
Service models in the market include SaaS, PaaS, IaaS, and BPaaS. SaaS is expected to hold the largest market share, driven by its benefits in enhancing healthcare operations and data security. This segment is also anticipated to experience the highest growth rate.
Deployment modes include public, private, and hybrid clouds. The public cloud segment is projected to lead, driven by its cost-effectiveness and scalability.
End users are classified into healthcare providers and payers. Healthcare providers are expected to maintain the largest market share, driven by the adoption of electronic health records and telemedicine. The healthcare payers segment is forecasted to grow the fastest, driven by the need for efficient claims processing and fraud detection.
Geographically, North America is forecasted to lead the market due to its advanced healthcare cloud solutions and high digital technology adoption. The Asia-Pacific region is expected to experience the highest growth rate, supported by favorable government policies and the rising popularity of telemedicine.
Key Players
The key players operating in the healthcare cloud computing market are Amazon Web Services, Inc. (U.S.) (a subsidiary of Amazon.com, Inc.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google LLC (U.S.), Alibaba Group Holding Limited (China), Oracle Corporation (U.S.), IRON MOUNTAIN INCORPORATED (U.S.), AT T Inc. (U.S.), NVIDIA Corporation (U.S.), GE HealthCare Technologies Inc. (a subsidiary of General Electric Company) (U.S.), OSP (U.S.), Zymr Inc. (U.S.), athenahealth, Inc. (U.S.), eClinicalWorks, LLC (U.S.), and e-Zest Solutions Inc. (U.S.).
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Key Questions Answered in the Report:
- What are the high-growth market segments in terms of offering, service model, deployment mode, and end user?
- What is the historical market size for the global healthcare cloud computing Market?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the global healthcare cloud computing market?
- Who are the major players in the global healthcare cloud computing market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the global healthcare cloud computing market?
- What are the different strategies adopted by major market players?
- What are the trends and high-growth countries?
- Who are the local emerging players in the global healthcare cloud computing market, and how do they compete with other players?
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