Healthcare Cloud Computing Market - Role of Key Players in the Global Growth

Posted July 12, 2022 by vmack2187

During the forecast period, AWS, Inc. (US), Microsoft Corporation (US), athenahealth, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), and CareCloud, Inc. (US), are the leading players in the global Healthcare Cloud Computing Market
Recent Developments in the Global Healthcare Cloud Computing Market:

# In February 2022, IBM (US) acquired Neudesic, LLC (US) which was aimed at expanding IBM's portfolio of hybrid multi-cloud services and further advance the company's hybrid cloud and AI strategy.

# In February 2022, Lyniate (US) acquired SAP SE (Germany) which was aimed at providing technology and consulting expertise to make it easier for clients to embrace a hybrid cloud approach and move mission-critical workloads from SAP solutions to the cloud for regulated and non-regulated industries.

# In January 2022 Francisco Partners (US) signed an agreement with IBM (US) to acquire healthcare data and analytics assets from IBM that are currently part of the Watson Health business, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software offerings.

# In January 2022, IBM (US) acquired ENVIZI (Australia) which was aimed at building on IBM's growing investments in AI-powered software.

Major Growth Driving Factors:

The growth of the healthcare cloud computing market is mainly driven by factors such as the growing adoption of EHR, e-prescribing, telehealth, mHealth, and other healthcare IT solutions due to COVID-19; the increasing adoption of big data analytics, wearable devices, and IoT; increasing cloud deployment in the healthcare industry; better storage, flexibility, and scalability of data offered by cloud computing; the proliferation of new payment models and cost-efficiency of the cloud; and the dynamic nature of health benefit plan designs.

On the other hand, data & security concerns and complex regulations governing cloud data centers are factors expected to restrain the market growth to a certain extent.

Opportunities: Emergence of telecloud and telehealth consultations

The convergence of wireless technology and the cloud is proving to be a very strong mechanism for patient care delivery to remote locations. In several countries, most physicians and specialists work in metros and cities. Hence, advanced care facilities are only available in such places, leaving patients in rural areas unattended. This problem can be addressed through the use of a telecloud, as it enables physicians and healthcare specialists to diagnose and treat patients over large distances in real-time and at affordable costs.

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Clinicians have been focusing on remote monitoring of affected patients due to the COVID-19 pandemic and the contagiousness of the disease. Physical assistance is taking a toll as there are increasing cases of doctors getting infected with the pandemic despite proper protection and care. The Italian Doctors Association stated that in March 2020, at least 50 doctors lost their lives treating COVID-19. It is, therefore, essential to minimize physical assistance and encourage telehealth. Thus, telehealth that includes remote monitoring of patients and the use of interactive medicines is expected to gain traction in the coming years.

Global Leading Companies:

Key players in the healthcare cloud computing market include Amazon Web Services, Inc. (US), Microsoft Corporation (US), International Business Machines Corporation (US), athenahealth, Inc. (US), CareCloud, Inc. (US), Siemens Healthineers AG (Germany), eClinicalWorks (US), Koninklijke Philips N.V. (Netherlands), Allscripts Healthcare Solutions, Inc. (US), NTT DATA Corporation (Japan), Sectra AB (Sweden), GE Healthcare (US), Nextgen Healthcare, Inc. (US), DXC Technology (US), INFINITT Healthcare, Co. Ltd. (South Korea), Hyland Software, Inc. (US), salesforce, Inc. (US), Fujifilm Holdings Corporation (Japan), VEPRO eHealth Solutions (Germany), Dell Technologies, Inc. (US), and EnSoftek, Inc. (US).

Athenahealth, Inc. is a leading provider of cloud-based services and mobile applications for medical groups and health systems. The company delivers cloud-based services for revenue cycle management & medical billing, electronic health records, patient engagement, care coordination, population health management, and clinical intelligence & decision support. It has a strong presence in North America through its R&D, manufacturing, sales, distribution, and service facilities.

Allscripts Healthcare Solutions, Inc. is a leading provider of eHealth solutions and services. The company serves physicians, hospitals, governments, health systems, health plans, life-science companies, retail clinics, retail pharmacies, pharmacy benefit managers, insurance companies, post-acute organizations, consumers, and lab companies.

Allscripts significantly focuses on enhancing its existing portfolio and broadly invests in R&D activities to develop innovative products and attain a competitive advantage in the market. The company invested 12.89% of its revenue in R&D in 2020. Allscripts also focuses on upgrading its products and adopting various expansion modes for strengthening its presence in the eHealth market. For instance, the company launched Avenel, machine learning, mobile-first, and cloud-based EHR.

CareCloud, Inc. is among the top providers of healthcare cloud computing solutions. The company provides cloud-based platforms for revenue cycle management, practice management, electronic health records, patient experience management, and telemedicine solutions for high-performance medical groups.

Amazon Web Services, Inc. has a strong brand name and offers a robust portfolio of products & services in the healthcare cloud computing market. The company’s wide geographic operations help in mitigating various risks associated with dependence on selected regions. The company focuses on the expansion of its product portfolio through the launch of new products.

In February 2021, the company launched Amazon Lookout for Vision. In December 2020, the company launched Amazon HealthLake, a US Health Insurance Portability and Accountability Act eligible service for healthcare and life sciences organizations. AWS’s business operations are spread across the Americas, the Asia Pacific, Europe, Africa, and the Middle East.

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Microsoft Corporation is a technology giant that provides cloud computing services under the Intelligent cloud segment. Microsoft has a strong focus on R&D and commits significant resources to develop technologies, tools, and platforms spanning digital work and life experiences, cloud computing, and device operating systems and hardware. The company conducts R&D at its facilities in the US, India, China, the UK, Canada, the Czech Republic, Ireland, and Israel. Microsoft conducts its business operations across the Americas, Europe, the Asia Pacific, and the Middle East & Africa.
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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags healthcare cloud , healthcare cloud computing , healthcare cloud computing market
Last Updated July 12, 2022