Healthcare Cloud Computing Market to Grow Significantly by 2025

Strategic Insights -

The healthcare cloud computing market is expected to grow rapidly, driven by increasing cloud-assisted medical collaborations and the introduction of edge computing. According to a recent market study by Technavio, the market is expected to increase by $25.54 billion from 2020 to 2025, with an accelerated CAGR of 22.59%. The shortage of cloud professionals in the healthcare industry is a major challenge for global healthcare cloud computing market growth.

The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. North America will register the highest growth rate of 40% among the other regions, with the US and Canada being the key markets for healthcare cloud computing market in North America.

SaaS solutions held the major share, owing to their easy deployment, less lead time compared with on-premises software solutions, and the service provider's ownership of maintenance and support tasks. Healthcare organizations adopt SaaS-based solutions for streamlining their client relationship management (CRM), accounting, payroll, supply chain management (SCM), and healthcare information systems.

Key Takeaways:

  • The healthcare cloud computing market is expected to increase by $25.54 billion from 2020 to 2025, with an accelerated CAGR of 22.59%.
  • The shortage of cloud professionals in the healthcare industry is a major challenge for global healthcare cloud computing market growth.
  • North America will register the highest growth rate of 40% among the other regions, with the US and Canada being the key markets for healthcare cloud computing market in North America.
  • SaaS solutions held the major share, owing to their easy deployment, less lead time compared with on-premises software solutions, and the service provider's ownership of maintenance and support tasks.
  • Healthcare organizations adopt SaaS-based solutions for streamlining their client relationship management (CRM), accounting, payroll, supply chain management (SCM), and healthcare information systems.
  • The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
  • Key vendors in the market include Allscripts Healthcare Solutions Inc., Amazon Web Services Inc., athenahealth Inc., Carestream Health Inc., General Electric Co., IBM Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., and Siemens Healthineers AG.
  • Allscripts Healthcare Solutions Inc. offers the FollowMyHealth enterprise patient engagement solution to help patients with their information and empower them in their own care.
  • Carestream Health Inc. offers an innovative approach to enterprise imaging management, providing secure, turnkey software as a service as either a public or private cloud service.
  • General Electric Co. offers a cloud ecosystem and its applications will connect radiologists and clinicians to speed, efficiency, and collaboration across care pathways and multidisciplinary teams.

Statistics:

  • The healthcare cloud computing market is expected to increase by $25.54 billion from 2020 to 2025, with an accelerated CAGR of 22.59%.
  • The shortage of cloud professionals in the healthcare industry is a major challenge for global healthcare cloud computing market growth.
  • North America will register the highest growth rate of 40% among the other regions, with the US and Canada being the key markets for healthcare cloud computing market in North America.
  • SaaS solutions held the major share, owing to their easy deployment, less lead time compared with on-premises software solutions, and the service provider's ownership of maintenance and support tasks.

Sources:

  • Technavio, "Healthcare Cloud Computing Market."
  • Wikipedia, "Cloud Computing."