Global Healthcare Cloud Computing Market Soars

A new report covering the global healthcare market has been added to ResearchandMarkets. The healthcare cloud computing market is experiencing remarkable growth, projected to surge from $39.0 Billion in 2022 to an estimated $91.3 Billion by 2028. This represents a substantial Compound Annual Growth Rate (CAGR) of 15.23% from 2023 to 2028. This surge is attributed to transformative advancements shaping patient care and revolutionizing healthcare operations with enhanced efficiency and data-informed decision-making.

Advancements Driving Market Expansion

There are several sectors covered in the report.

Healthcare Cloud Computing Service Models: Software as a Service (SaaS)

The Software as a Service (SaaS) segment, as the largest within the market, is leading the way with its flexible, internet-based service offerings. SaaS eliminates the complexities of on-site installations and maintenance, contributing significantly to the market’s growth.

Cloud Deployment Models: Public Cloud Dominance

The public cloud leads cloud deployment models, offering unparalleled scalability and rapid deployment capabilities. This is crucial for healthcare organizations seeking process optimization and improved patient services.

See also: Enabling Innovation with the Right Cloud Data Architecture

Innovations in Application Fields and End User Dominance

The report emphasizes that non-clinical information systems hold the largest market share, playing a pivotal role in automating and refining healthcare operations such as billing, inventory management, and financial management. Healthcare providers are the dominant end users, leveraging cloud computing to manage growing medical data and enhance patient care delivery securely.

Geographical Trends and Competitive Landscape

North America stands out as the primary market for healthcare cloud computing, fueled by a well-established innovation ecosystem and stringent regulatory compliance.

The competitive landscape is dynamic, with key industry players introducing sophisticated cloud-based solutions. Recent developments include Allscripts Healthcare Solutions extending its alliance, a strategic collaboration between an industrial software company and Amazon Web Services, and Oracle Corporation unveiling healthcare-specific features for its enterprise and supply chain management suites. These innovations span Electronic Health Record (EHR) systems to telemedicine platforms, incorporating cutting-edge technologies like artificial intelligence (AI) for enhanced decision-making in healthcare.