Healthcare Cloud Computing Market size in 2019 is estimated to be $23 billion, growing at a CAGR of 16.8% during the forecast period 2020-2025. Cloud computing is one of the most commonly used applications in healthcare. Cloud computing makes electronic medical record-sharing easier and safer and increases the efficiency of the industry. Rising demand for cloud-based information systems and technological advancement are the major factors driving the growth of the market. Moreover, use of cloud computing provides better collaborative research and provides lowering of costs further enhance the overall market demand for healthcare cloud computing during the forecast period 2020-2025.
- In 2019, North America dominates the healthcare cloud computing market owing to continuous technological advancements in the healthcare cloud computing solution and supportive regulatory scenario.
- Rising demand for cloud-based information systems and technological advancement is driving the market growth of healthcare cloud computing.
- Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the healthcare cloud computing market report.
- Data security and integrity issues are challenging the growth of the market.
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Geography – Segment Analysis
North America dominated the healthcare cloud computing market share accounting for 43% of the market in 2019. This is mainly owing to continuous technological advancements in the healthcare cloud computing solution and supportive regulatory scenario. According to American Hospital Association, the healthcare system in the U.S. has increasing the demand of cloud computing services for delivery of better healthcare services.
However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing geriatric population, advancement in healthcare infrastructure and rising awareness among people about disease.
Drivers – Healthcare Cloud Computing Market
- Rising Demand for Cloud-Based Information Systems
- Technological Advancements
Healthcare Cloud Computing Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Healthcare Cloud Computing Market. Healthcare Cloud Computing top 10 companies are IBM, Carestream Health, Inc., CareCloud Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., Allscripts Healthcare Solutions, Inc., GE Healthcare, Sectra AB, NextGen Healthcare, Inc., DXC Technology Company, and INFINITT Healthcare Co. Ltd.
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