Objectives of the Study:

# To define, describe, and forecast the global market by application, deployment model, pricing model, service model, component, end user, and region

# To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)

# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders

# To forecast size of market segments in North America, Europe, Asia Pacific, and RoW

# To strategically profile key players in the global market and comprehensively analyze their core competencies

# To track and analyze competitive developments such as mergers and acquisitions; product developments; agreements, partnerships and collaborations; and research and development activities in the market

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The global healthcare cloud computing market is expected to reach USD 44.93 billion by 2023 from USD 19.46 billion in 2018, at a CAGR of 18.2%.

The key factors driving the growth of this market include increasing adoption of big data, wearable devices, and IoT in healthcare; advantages of cloud usage (such as improved storage, flexibility, and scalability of data); implementation of healthcare reforms such as the Patient Protection and Affordable Care Act; and the dynamic nature of health benefit plan design.

Geographic segments in this report include North America, Europe, Asia Pacific, and the RoW. North America is expected to account for the largest share of the market in 2018. The large share of this region can primarily be attributed to the increasing adoption of EHRs among medical professionals and active participation by private sector players in the development of the healthcare industry in that region.

Concerns over data security and privacy and the tedious task of migration from legacy systems are expected to limit the market growth to a certain extent during forecast period. In various countries, patient information has been under the scanner of legal frameworks. For instance, data privacy requirements are legislated through HIPAA (Health Insurance Portability and Accountability Act) privacy rules in the US. Similarly, the European Union has several directives pertaining to data protection. In many countries, the Protected Health Information (PHI) of patients cannot be moved out of the country of origin.

The issues related to interoperability of cloud may challenge market growth to a certain extent during the forecast period.

Some of the major players in healthcare cloud computing market include CareCloud Corporation (US), ClearData Networks Inc. (US), Athenahealth (US), Cerner Corporation (US), Epic Systems Corporation (US), NextGen Healthcare (US), Carestream Corporation (Canada), Dell Inc. (US), DICOM Grid Inc. (US), INFINITT Healthcare (South Korea), Sectra AB (Sweden), Merge Healthcare Inc. (US), Siemens Healthineers (Germany), iTelagen Inc. (US), NTT DATA Corporation (Japan), Nuance Communications (US), and Ambra Health (US).

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