Healthcare Cloud Infrastructure Market Growth & Trends
The global healthcare cloud infrastructure market size is expected to reach USD 193.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.7% from 2022 to 2030. The rising shift towards healthcare digitalization, rapidly increasing expenditures, heavily burdened health systems, growing data siloes, increasing network traffic, and the advent of remote working are all driving the demand for healthcare cloud infrastructure systems and solutions. To enhance facility management, businesses are continually implementing hybrid cloud models to incorporate various operations and functions in a multi-cloud environment. Moreover, these advanced computing solutions enable organizations to manage data safely and reliably while providing optimal care with improved operational and clinical results.
The Covid-19 disease outbreak exposed the flaws of overburdened healthcare systems and reinforced the need for enhanced computing systems as well as other advanced IT technological solutions to lay the groundwork for digitalization. These solutions enable organizations to optimize workflows, optimize resource management, improve cost optimization, handle growing network traffic efficiently, and mitigate risk. Key players are constantly developing merger and acquisition and collaboration strategies to correspond to their R&D goals to drive innovation and diversify their product portfolios. For instance, in March 2022, Microsoft completed its USD 19.7 billion all-cash acquisition of voice recognition and AI vendor Nuance Communications. Microsoft hopes to expand ambient clinical intelligence as well as other Microsoft cloud services to the healthcare sector.
The services component segment dominated the market in 2021 due to the relative ease with which these services could be outsourced from vendors, as healthcare organizations lacked the necessary technology skillset and expertise. These organizations benefit from improved flexibility, scalability, and secure data management provided by advanced computing systems, which has a positive effect on market growth. The cloud infrastructure market offers Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS). The hardware segment is anticipated to witness significant growth over the forecast period owing to an increase in the demand for hardware platforms with greater computing power.
However, due to the many advantages offered by advanced computing systems like secure off-site data collection and management as well as the availability of IT solution outsourcing, the healthcare providers’ end-use segment dominated the market in 2021. The healthcare payers segment is expected to grow at the fastest rate over the forecast period due to the increasing implementation of smart computing systems in risk assessment, secure data collection, fraud detection, storage, and claim settlement. North America dominated the market in 2021 owing to the advanced IT infrastructure, increased IT expenditure, and the strong presence of key market players. Moreover, the incidence of specialized start-ups in the Asia Pacific region is anticipated to boost the demand even further.
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Healthcare Cloud Infrastructure Market Report
Healthcare Cloud Infrastructure Market Report Highlights
- The market is expected to grow as a result of the prevalence of advanced technological solutions and the continued implementation of cloud computing
- The services component segment dominated the market in 2021 owing to the increasing trend of outsourcing these services as healthcare organizations lacked the required skillset and manpower
- Due to the increase in hospital interconnection over cloud infrastructure and advanced off-site data management, the healthcare providers end-use segment dominated the market in 2021
- North America dominated the market in 2021 as a result of the availability of key market players, improved infrastructure, increased health IT spending, and growing adoption rates
