The global health cloud market will grow at a healthy CAGR by 2027, states the latest Market Research Future report.
Global health cloud market report profiled players
- Amazon Web Services, Inc. (US)
- Microsoft Corporation (US)
- IBM Corporation (US)
- Oracle Corporation (US)
- com Inc. (US)
- General Electric Company (US)
- Cisco Systems, Inc. (US)
- Siemens AG (Germany)
- ClearData Networks Inc. (US)
- Cerner Corporation (US)
- Carecloud Corporation (US)
- PLEXIS Healthcare Systems (US)
- Carestream Health (US)
- Athenahealth, Inc. (US)
- Sectra AB (Sweden)
- Eclinicalworks, LLC (US)
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Increased Demand in Healthcare Sector to Boost Market Growth
The increased demand for health cloud in the healthcare sector for a smarter patient management system will boost health cloud market growth in the forecast period. The Affordable Care Act & reimbursement policies initiated via the government across different countries have created incentives and mandates for healthcare providers, pharmaceutical companies, medical device companies, payers, and healthcare providers for information, access, and interaction have grown tremendously.
Rising Use of Blockchain in Health Cloud to offer Robust Opportunities
The rising use of blockchain in health cloud, formation of accountable care organizations, and the emergence of tele cloud will offer robust opportunities for the market over the forecast period.
Privacy Concerns and Data Security to act as Market Restraint
Privacy concerns and data security and migration from the legacy system may act as market restraints over the forecast period.
Portability Issues to act as Market Challenge
Portability and interoperability issues coupled with inadequate technical expertise especially in developing geographies will act as market challenges over the forecast period.
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The global health cloud market is bifurcated based on end user, application, service model, deployment, and component.
By component, the services segment will lead the market over the forecast period.
By deployment, the hybrid segment will dominate the market over the forecast period.
By service model, the SaaS segment will spearhead the market over the forecast period.
By application, the analytics and assessments will have the lions share in the market over the forecast period.
By end user, the hospital segment will command the market over the forecast period.
The COVID-19 pandemic possessed a positive impact on the global health cloud market for its increasing use during the outbreak. For instance, Salesforce, a leading customer relationship management solutions company has begun to deploy Dreampass, a component of its Health Cloud 2.0 portfolio that allows scalable and robust COVID-19 safety protocols like managing proof of vaccination, thus integrating with testing vendors. This will also allow organizations in delivering automated personalized communications all through the process for ensuring a safer environment for the community, staff, and attendees. Thus, this had a positive impact on the health cloud market growth.
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North America to Domineer Health Cloud Market
North America will domineer the health cloud market over the forecast period. Healthcare organizations adopting health cloud solutions to improve patient engagement, significant adoption of cloud platforms for the different benefits provided by them, and the PPACA set by the US government for offering high-quality healthcare solutions to its citizens are adding to the global health cloud market growth in the region. Mexico, Canada, and the US have utmost market share.
Europe to Have Admirable Growth in Health Cloud Market
Europe will have an admirable growth in the health cloud market in the forecast period. Growing use of cloud health platform for smart patient management, reporting and analytics, and storage of patient data, a high focus of European government on growing awareness as well as adoption of IoT technologies, and initiatives taken for developing a code of practices for IoT security is adding to the global health cloud market growth in the region.
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