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Healthcare Cloud Computing Market Is Likely To Witness A Healthy CAGR Growth of 11.8% By 2026 | Grand View Research, Inc

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Healthcare Cloud Computing Market Is Likely To Witness A Healthy CAGR Growth of 11.8% By 2026 | Grand View Research, Inc

May 12
09:01 2020
Healthcare Cloud Computing Market Is Likely To Witness A Healthy CAGR Growth of 11.8% By 2026 | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to a report published by Grand View Research,Growing demand for integrated information systems majorly due to increase in prevalence of chronic diseases and aging population are key drivers for this healthcare cloud computing market.

According to a report, “Healthcare Cloud Computing Market Size, Share & Trends Analysis Report By Application, By Deployment Model (Private, Public, Hybrid), By Pricing Model, By Service Model, By End Use (Providers, Payers), And Segment Forecasts, 2019 – 2026”, published by Grand View Research, Inc.,The global healthcare cloud computing market size is expected to reach USD 27.8 billion by 2026, according to a new report by Grand View Research, exhibiting a CAGR of 11.8% over the forecast period. The associated benefits of data analytics and increase in demand for flexible & scalable data storage by healthcare professionals is expected to drive the demand for these services over the forecast period.

Healthcare organizations are digitalizing their IT infrastructure and deploying cloud servers to improve features of systems. These solutions help organizations in reducing infrastructure cost & interoperability issues and aid in complying with regulatory standards. Hence, rising demand from health professionals to curb IT infrastructure costs and limit space usage are anticipated to boost market growth over the forecast period.

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Increase in government initiatives undertaken to develop and deploy IT systems in this industry is one of the key drivers of this market. Moreover, increase in partnerships between private & public players and presence of a large number of players offering customized solutions are some of the factors anticipated to drive demand in the coming years.

U.S. healthcare cloud computing Market

Further key findings from the study suggest:

  • Non-clinical information systems such as revenue cycle management, health information exchange, financial management, etc., accounted for the largest revenue share in application segment in 2018

  • Financial management segment held 23.0% share of the non-clinical segment in 2018 while billing and accounts management is expected to grow at the considerable CAGR during the forecast period

  • Private deployment model dominated the overall market owing to its benefits and ease of usage

  • Software as a Service (SaaS) model accounted for the largest revenue share as of 2018 as it is widely accepted. This model enables access to applications on a cloud from various devices

  • Pay-as-you-go pricing model is anticipated to gain popularity in the coming years, as the consumer only pays for services being used

  • North America dominated the market with a share of over 55.0% in 2018. This can be attributed to an increase in demand from payers as well as providers

  • Some key players of this healthcare cloud computing market include Athenahealth, Cerner Corporation, CareCloud Corporation, Carestream Corporation, Epic Systems Corporation, Dell Inc., and Sectra AB

  • Companies are forming various strategic alliances with clinical research organizations and medical devices companies to further expand their profit margins in the healthcare IT sector. These type of strategic collaborations are expected to aid market growth in the coming years.

End-use Insights

Healthcare providers held a dominant share in 2018. Increasing number of hospital connections over the cloud has positively impacted the demand for SaaS model. The benefits of these systems such as off-site data storage to save space and outsourcing of IT solutions from hosting vendors eliminate the need for in-house IT staff, which is expected to fuel market demand over the forecast period.

Global healthcare cloud computing Market

Providers segment is also expected to witness the fastest CAGR in the next 7 years due to increasing adoption, as cloud computing offers flexibility, scalability, and improved data storage. Advancements in technology allows pharmacists to choose data management solutions in order to track historical data related to payment and drug sold to patients. These factors are expected to contribute to the growing demand from the healthcare payers in the coming years.

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Grand View Research has segmented the healthcare cloud computing market on the basis of the application, deployment model, pricing model, service model, end use, and region:

Healthcare Cloud Computing Application Outlook (Revenue, USD Million, 2014 – 2026)

  • Clinical Information Systems

    • Electronic Medical Records

    • PACS, VNA, and Image Sharing Solutions

    • Population Health Management

    • Telehealth

    • Laboratory Information Management Systems

    • Pharmacy Information Systems

    • Radiology Information Systems

    • Other CIS

  • Non-Clinical Information Systems

    • Revenue Cycle Management

    • Billing and Accounts Management

    • Financial Management

    • Healthcare Information Exchange

    • Fraud Management

    • Supply Chain Management

    • Other NCIS

Healthcare Cloud Computing Deployment Model Outlook (Revenue, USD Million, 2014 – 2026)

  • Private cloud

  • Hybrid cloud

  • Public cloud

Healthcare Cloud Computing Service Model Outlook (Revenue, USD Million, 2014 – 2026)

  • Software-as-a-service

  • Infrastructure-as-a-service

  • Platform-as-a-service

Healthcare Cloud Computing Pricing Model Outlook (Revenue, USD Million, 2014 – 2026)

  • Pay-as-you-go

  • Spot Pricing

Healthcare Cloud Computing End-use Outlook (Revenue, USD Million, 2014 – 2026)

  • Healthcare Providers

  • Healthcare Payers

Healthcare Cloud Computing Regional Outlook (Revenue, USD Million, 2014 – 2026)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Netherlands

    • Sweden

    • Denmark

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

  • Central & South America

    • Brazil

    • Argentina

    • Chile

  • MEA

    • South Africa

    • KSA

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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