Healthcare Cloud Computing Market Share & Industry Growth

Healthcare Cloud Computing Market Overview

The Global Healthcare Cloud Computing Market Size Was Valued at USD 45.03 Billion in 2023 and is Projected to Reach USD 192.24 Billion by 2032, Growing at a CAGR of 17.5 % From 2024-2032.

The healthcare cloud computing market is experiencing rapid growth, driven by the increasing adoption of cloud technology to store, manage, and process healthcare data. By enabling real-time access to computer resources such as data storage and computing power, cloud computing supports healthcare providers in delivering more efficient and effective care. It facilitates the seamless sharing of patient information across various healthcare providers, ensuring that all involved parties have access to up-to-date data, which ultimately improves patient care, coordination, and collaboration. This is particularly beneficial for emerging fields like telemedicine and remote patient monitoring.

• Several factors contribute to the market's expansion, including the growing integration of healthcare IT solutions such as Electronic Health Records (EHR), e-prescribing, telehealth, and mobile health (mHealth). , the use of big data analytics, wearable devices, and the Internet of Things (IoT) has surged, further driving the demand for cloud solutions. Cloud computing’s flexibility, scalability, and cost-efficiency make it an attractive option for healthcare providers looking to enhance data storage capabilities and optimize their IT infrastructure. Furthermore, cloud deployment models continue to evolve, aligning with new healthcare payment structures and improving overall system performance.
• Despite its numerous advantages, the healthcare cloud computing market faces challenges that may hinder its growth. Data security concerns and the complexities surrounding regulatory compliance for cloud data centers are critical issues that need to be addressed. As healthcare providers increasingly adopt cloud technology, ensuring data privacy and meeting stringent regulations will be essential to maintaining trust and encouraging wider market adoption. Nevertheless, the overall outlook for the healthcare cloud computing market remains positive, with continued growth anticipated in the coming years.

Market Dynamics And Factors For Healthcare Cloud Computing Market

Drivers:

Rising the Acceptance of Healthcare IT solution Due to the Prevalence of Covid-19

• The growing number of chronically diseased patients such as cancer, covid-19, cardiovascular diseases, and diabetes in the last few years. According to Statista, in 2020 70% of chronic disease-related deaths are estimated in developing countries. The rising number of geriatric patients also supports the prevalence of chronic diseases and the growing prevalence of covid -19. So, there is a need for IT solutions such as EHR, e-prescribing, telehealth, and mHealth, to store the patient data. It makes it easier to doctor to share information with other physicians or patients. easier for instance, in June 2022 196 thousand new cases were found of covid-19 across the world. These factors are responsible for raising the adoption of healthcare IT solutions which boosts the market of healthcare cloud computing.

Restraints:

Growing Concerns About Data Security and Privacy

• A rising concern regards cloud solutions is that the data hosted by vendors is not safe as data stored on-premise. There is a high requirement for privacy for patient information because it is considered sensitive. The growing number of patients increases the volume of data and this data is stored on the public or private cloud but there is the threat of cyber-attacks, So, peoples are more concerned about cloud solutions which are expected to hamper the growth of the market in the forecast period.

Opportunity:

Increasing Consultation Facility of Telehealth and Telecloud Facility

• In most countries, due to technological advancement, several physicians offer consultation services via telecloud or telehealth which is a lucrative opportunity for developing the healthcare development market in the forecast year. Additionally, with increasing covid-19 cases patients are unable to visit clinics or hospitals, they prefer the telecloud service for the treatment or diagnosis of the diseases. Telehealth is helping to monitor patients remotely and suggest the medicine for recure diseases which is a remunerative opportunity for the market in the projected timeframe.

Segmentation Analysis Of Healthcare Cloud Computing Market

• By type, the solution segment is expected to have the maximum market share in healthcare cloud computing during the forecast year. The solutions include RCM solutions, financial solutions, HIE solutions, SCM solutions, Telehealth solutions, RIS, PHM solutions, and billings & accounts management solutions. The rising use of these solutions in several healthcare sectors to record the patient data, provide the security to data, and offers the consultation service for the treatment of diseases. These factors are responsible for the growth of the market of healthcare cloud computing in the forecast year.
• By deployment model, the private segment is anticipated to maximum share in the healthcare cloud computing market in the forecast period. The private model is also called an Internal Cloud which is a secured platform. This model is strictly controlled by the organization. It provides several benefits such as cost-effectiveness, high security, improved resource utilization, regulatory compliance, and more flexibility. It consists of dedicated infrastructure, better control over the servers, a good network, and application security. These factors are expected to propel the growth of the market in the analysis timespan.
• By service model, the SaaS segment is expected to have the highest growth in the market of healthcare cloud computing over the projected timeframe. The software-as-a-server (SaaS) includes smart business applications and artificial intelligence (AI) which become self-learning and autonomous. It helps to connect to use cloud-based apps over the internet. Thus it is highly adopted in healthcare firms. This helps to increase the market of healthcare cloud computing in the forecasted period.
• By end-users, the healthcare providers segment is expected to have maximum market share in healthcare cloud computing in the projected timeframe. The rising prevalence of diseases increases the healthcare sectors across the world that offer consultation services for patients to treat the diseases. For this purpose, healthcare sectors use cloud service which propels the growth of the market.

Regional Analysis Of Healthcare Cloud Computing Market

• The North American region is expected to have the maximum market share of healthcare cloud computing. In this region, the United States has the largest share in healthcare computing owing to the high acceptance of healthcare IT services and growing government support. Apart from this advancement in technology, electronic health records (EHRs) program arranged by Medicaid & Medicare, high healthcare expenditure, rising number of diseases support to collection the remarkable amount of data, and growing industry players in this region, these factors contribute to the growth of the market in this region.
• The Europe region is expected to be second dominated region in the market of healthcare cloud computing owing to the advancement of technology in healthcare sectors, increase in the development of cloud-based HCITs solutions, high availability of cloud computing solutions for healthcare, growing awareness regards cloud-based solutions which are used in healthcare, the rising elderly population with risk of multiple diseases, availability of high-speed internet in European developed countries such as UK, Germany, and Spain, government support, the requirement of low cost in healthcare business environment. This increase the demand for healthcare cloud computing software in the healthcare sectors in this region which helps peoples the growth of the market in the forecast year.
• In the Asia-Pacific region growing the awareness among the people regards the advanced technology that is used in the healthcare sector, the development of healthcare infrastructure, rising investment in the healthcare technology, and growing research and development in healthcare cloud computing service which supports the market growth in this region. For instance, Amazon Inc. is a cloud infrastructure provider that launched AWS (Amazon Web Service) Internet of Things services which is a sizable public kind of cloud.  Additionally, the rising number of chronic diseases in the geriatric population and the increasing adoption of advanced technology in India, China, and Japan also boost the market in the forecast year.

Top Key Players Covered In Healthcare Cloud Computing Market

• eClinicalWorks (US)
• CareCloud, Inc. (US)
• Oracle Corporation (US)
• Allscripts Healthcare Solutions, Inc. (US)
• Amazon Web Services, Inc. (US)
• International Business Machines Corporation (US)
• Microsoft Corporation (US)
• Siemens Healthineers AG (Germany)
• NTT DATA Corporation (Japan)
• athenahealth. Inc. (US)
• Sectra AB (Sweden)
• GE Healthcare (US), and other major players.

Key Industry Development In The Healthcare Cloud Computing Market

• In October 2024, Microsoft and NVIDIA collaborated to empower AI startups driving innovation in health and life sciences. Through advanced machine learning models and data-driven insights, this partnership paved the way for groundbreaking advancements in drug discovery, personalized medicine, and connected care experiences. By leveraging AI's potential, the collaboration aimed to accelerate medical breakthroughs, address global health challenges, and create transformative solutions.
• In March 2024, Genesys, a global leader in AI-powered Experience Orchestration, has announced a collaboration with Epic to improve patient journeys. The partnership integrates the Genesys Cloud platform with Epic’s Cheers CRM suite, providing a seamless communication experience for both patients and healthcare providers. By leveraging Epic’s Workshop program, the integration ensures a more connected, unified approach to patient care, enhancing the overall experience for both clinicians and patients. This collaboration aims to streamline workflows and strengthen patient-provider interactions, marking a significant advancement in healthcare technology.