Global Healthcare Cloud Computing Market size was valued at USD 17.64 Billion in 2023 to USD 43.06 Billion by 2031, growing at a CAGR of 11.8% in the forecast period (2024-2031).
The aging population and the higher incidences of chronic diseases due to which there is a greater need for an integrated information system is one of the major causes for this growth in the healthcare cloud computing market. Growing adoption of electronic health records, telemedicine, e-prescribing, and mobile health drives the industry. It is expected to grow during the forecast period owing to the growing demand for wearable devices, big data analytics, IoT in the health sector, remote monitoring, data integration, and real-time access offered by these technologies. The technology used in the US in hospitals and health systems for remote monitoring of patients. Using the devices connected through sensors within the Internet of Things, offers carers a continuous stream of real-time health data that includes blood pressure, glucose monitoring, and heart rate.
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Integration of Telehealth with Cloud Platforms Enhancing Patient Care and Operational Efficiency
Telehealth services, which primarily rely on cloud computing for storage security and real-time communication, have recently enjoyed wider prominence since the COVID-19 pandemic. It is still on for both patients and providers to continue to adopt the trend in appreciation of how practical and effective it could be for remote consultations. Healthcare service providers increasingly use an integrated cloud platform that links telehealth in a network with the electronic health record, scheduling, and billing systems for better treatment of patients and operational efficiency. Cloud computing empowers processing and storing big volumes of data generated by a particular patient, which further helps design personalized treatment programs based on lifestyle choices, genetic history, and an individual health profile.
For instance, in January 2023, with its advanced health-tracking watch W1, Masimo forged ahead to extend its capability in monitoring patients’ conditions on at-home telehealth apps in partnership with Philips. This watch measures accurate pulse oximetry and other practical health data.
R&D Investments and New Solutions Driving Growth
Major companies are focusing on industry-specific services with the aim of increasing their geographic footprint across different regions. The major companies are focusing actively on mergers and acquisitions with regional players, to maintain their influence across regions. New product launches by leading companies in the industry are being introduced to increase their customer pool. The market is expanding due to increased continuous R&D spending on new advancements. Therefore, all leading companies have applied these strategic decisions in their operation immediately with the purpose of sustaining competitiveness in the market.
Advancing Patient Care with Recent Technological Breakthroughs in Healthcare
Each is continually enhancing offerings to improve patient care and operational effectiveness in the changing healthcare environment. Several modern breakthroughs recently show large enterprises using technology to simplify health procedures and service needs. Such breakthroughs point out a movement toward more integrated, technology-driven healthcare solutions.
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Innovations Lead by Key Players
May 2024: Athenahealth, an EHR vendor, introduced specialized EHR solutions to suit the needs of urgent care and women’s health practices.
November 2023: HealthSuite Imaging, a cloud-based PACS, was introduced by Philips. The new system boasts AI-enabled process orchestration to minimize the load on IT managers, integrated reporting, and fast remote access for diagnostic reading.
June 2022: Siemens launched Siemens Xcelerator, which would help in driving value creation and digital transformation for customers of all sizes across diverse industries. This platform offers hardware, software, and digital services empowered by the IoT to make customers more productive and competitive.
Healthcare Cloud Computing Market Segmental Analysis
The Global Healthcare Cloud Computing Market is segmented into Service, Deployment Type, Application, Component, End User, and Region.
Based on Service, the market is segmented into PaaS, IaaS, and SaaS. Based on Deployment Type, the market is segmented into Private Cloud, Public Cloud and Hybrid Cloud.
Based on Application, the market is divided into Clinical Information Systems and Non-Clinical Information Systems.
Based on Component, the market is Divided into Software and Services.
Based on End User, the market is segmented into Healthcare Providers and Healthcare Payers.
By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
This report covers following players:
Amazon Web Services, Inc.
Athenahealth, Inc.
CareCloud, Inc.
ClearDATA
Dell Inc.
Euris Group
e-Zest Solutions Ltd.
IBM Corporation
Iron Mountain Inc.
Koninklijke Philips N.V.
Microsoft Corporation
Oracle Corporation
OSP Labs
Siemens Healthineers AG
Zymr, Inc.
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The healthcare cloud computing market is expected to increase significantly owing to technical development and the growing adoption of integrated systems such as electronic health records, telemedicine, and remote monitoring. Greater access to high-speed internet globally, along with an ageing population and increase in chronic diseases, are just some of the reasons indicating the urgent need for cloud-based solutions that might enhance patient care coupled with operational efficiency. With increasing development and refinement of telemedicine and cloud computing for more efficient, personalized, and accessible healthcare solutions, this market is expected to move toward an integrated and technology-driven healthcare environment.
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