North America Healthcare Cloud Computing Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 20.71 Billion |
| Market Size (2029) | USD 36.70 Billion |
| CAGR (2024 - 2029) | 12.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Healthcare Cloud Computing Market Analysis
The North America Healthcare Cloud Computing Market size is estimated at USD 20.71 billion in 2024, and is expected to reach USD 36.70 billion by 2029, growing at a CAGR of 12.12% during the forecast period (2024-2029).
Factors such as an increase in the adoption of information technology in the healthcare sector, access to advanced technologies, and established healthcare infrastructure are expected to fuel the market's growth during the forecast period.
For instance, in August 2023, HCA Healthcare Inc., a prominent healthcare provider in the United States, partnered with Google Cloud to leverage generative AI technology. The aim is to streamline tasks like clinical documentation, allowing healthcare professionals to dedicate more time to patient care. Furthermore, in August 2023, Illinois-based Celegence, a regulatory compliance service and software solution company, launched CAPTIS Copilot, an enterprise cloud-based platform with the option for document automation and literature review solutions for the life sciences industry. The cloud-based solution enables medical device and IVD manufacturers to increase innovation and workflow. Given the innovative solutions and strategic initiatives in cloud computing, the market is poised for significant growth during the forecast period.
Furthermore, key players and their strategic activities, such as service launches, collaborations, and agreements in the healthcare cloud-based computing sector, are expected to drive the market's growth in North America. For instance, in March 2023, ClearDATA, a healthcare cloud services provider from Austin, partnered with EmVenio Research. They aim to enhance minority participation in clinical trials, leveraging ClearDATA's Managed Health Cloud for secure, culturally accessible solutions. Similarly, in January 2023, healthcare organizations, namely Redlands Community Hospital, Pioneer Medical Center, Ste. Genevieve Memorial Hospital, Scotland County Hospital, Whitfield Regional Hospital, St. Bernard Hospital, Appling Healthcare, and Cherry County Hospital and Clinic signed an agreement with MEDITECH to utilize MEDITECH's Expanse MaaS Platform. The company witnessed a 45% increase in the total number of organizations licensing MEDITECH's MaaS platform compared to 2021. The rising adoption of cloud-based computing services in North America, coupled with increased collaborative efforts to implement software as a service in healthcare, is projected to fuel the market's growth in the coming years.
With North America's healthcare sector increasingly embracing cloud computing for digital health support, alongside heightened strategic engagements like agreements and collaborations among key players, the market is poised for substantial growth in the coming years. However, data security issues are expected to hinder the market's growth during the forecast period.
North America Healthcare Cloud Computing Market Trends
The Software-as-a-Service Segment is Expected to Witness a Positive Growth During the Forecast Period
Software-as-a-service (SaaS) is a cloud-based software delivery model in which the cloud provider develops and maintains cloud application software, provides automatic software updates, and makes software available to its customers via the Internet on a pay-as-you-go basis. Software-as-a-service (SaaS) is a software distribution model in which a cloud provider offers applications to end users over the Internet. Healthcare Software-as-a-service refers to cloud-based software applications designed for the healthcare industry that support healthcare organizations in managing and streamlining various aspects of their operations, such as patient management, clinical documentation, and revenue cycle management.
Rising SaaS installations, a surge in SaaS service launches, and strategic partnerships with hospitals are expected to fuel the segment growth during the forecast period. For instance, in April 2023, US-based hospital supply chain SCWorx signed an agreement with a New York hospital to provide its software-as-a-service (SaaS) data management service and Workday implementation assistance. Similarly, in February 2023, Novari Health implemented its surgical waitlist management and eBooking technology at Humber River Hospital using software-as-a-service (SaaS).
Furthermore, increased adoption of digital health services is likely to create a demand for SaaS services across North America. For instance, a survey conducted by Canada Health Infoway in November 2023 showed that an increasing number of Canadians accessed their personal health information electronically annually. As per the same survey, Canadian survey respondents expressed significant interest in digital health services, particularly in electronic prescriptions and accessing their personal health information (PHI). Notably, 50% report having prescriptions sent directly to pharmacies by their physicians without a paper script. Additionally, nearly half have engaged in telephone consultations with healthcare providers, and almost 40% have accessed their PHI online. Thus, owing to the increased adoption of digital health services, the growth of the segment is likely to rise during the forecast period.
With a surge in advanced software-as-a-service (SaaS) product launches and an increasing demand for digital health services in North American hospitals and healthcare facilities, the segment under study is poised for substantial growth in the coming years.
The United States is Expected to Witness Healthy Growth During the Forecast Period
The United States is expected to witness significant market growth due to factors such as the robust healthcare infrastructure, the presence of major industry players, the high adoption of advanced healthcare technologies, and the launch of digital health services. For instance, in March 2023, the Cleveland Clinic and IBM introduced the inaugural deployment of an on-site, privately managed quantum computer in the United States. The IBM Quantum System One, now operational at the Cleveland Clinic, marks a pioneering move as the globe's premier quantum computer exclusively focused on advancing healthcare research, specifically to hasten biomedical breakthroughs at the Cleveland Clinic. This collaboration signifies a significant leap forward in the integration of quantum computing within the healthcare sector, which is likely to drive the market during the forecast period.
Furthermore, major market players in the United States are actively introducing intelligent healthcare platforms and patient engagement systems to maintain their competitive edge. For instance, in January 2023, HARMAN, a wholly-owned subsidiary of Samsung Electronics Co. Ltd, launched its intelligent Healthcare Platform designed to help healthcare and life sciences enterprises in their journey toward personalized customer-centric services. Similarly, in October 2023, EyeMD EMR, a premier provider of clinical software tailored for eye care, unveiled Axon, its 3rd Generation Patient Engagement System. This cutting-edge tool enables clinicians to engage with patients digitally, transcending traditional clinical boundaries. By doing so, it aims to boost efficiencies, open new avenues, and elevate the overall quality of care. Thus, such advanced healthcare service launches in the United States are likely to increase the demand for cloud computing in healthcare, contributing to the market's growth during the forecast period.
With increasing strategic activities bolstering the digital healthcare sector and a notable uptick in the launch of cloud computing services, the United States is poised for substantial growth in the coming years.
North America Healthcare Cloud Computing Industry Overview
The North American healthcare cloud computing market is fragmented in nature due to the presence of several companies operating globally and regionally. A few of the major companies in the market are IBM Corporation, Amazon Web Services Inc., Koninklijke Philips NV, Microsoft, and Oracle.
North America Healthcare Cloud Computing Market Leaders
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IBM Corporation
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Koninklijke Philips N.V.
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Microsoft
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Oracle
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Amazon Web Services Inc.
*Disclaimer: Major Players sorted in no particular order
North America Healthcare Cloud Computing Market News
- May 2024: Athenahealth rolled out specialized EHR solutions tailored to address the unique clinical and operational requirements of women's health and urgent care practices.
- March 2024: Doceree launched its groundbreaking technology, Spark, at HIMSS 2024. Spark is designed to empower healthcare providers, improve care quality, and, in turn, boost patient outcomes. This innovative platform utilizes patented technology, clinical data, and AI triggers to seamlessly integrate relevant communications into existing clinical workflows, all in real-time.
North America Healthcare Cloud Computing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Adoption of Information Technology in the Healthcare Sector
4.2.2 Access to Advanced Technologies and Established Healthcare Infrastructure
4.3 Market Restraints
4.3.1 Data Security Issues
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Application
5.1.1 Clinical Information Systems (CIS)
5.1.1.1 Electronic Health Record (EHR)
5.1.1.2 Picture Archiving and Communication System (PACS)
5.1.1.3 Radiology Information Systems (RIS)
5.1.1.4 Computerized Physician Order Entry (CPOE)
5.1.1.5 Other Clinical Information Systems
5.1.2 Non-clinical Information Systems (NCIS)
5.1.2.1 Revenue Cycle Management (RCM)
5.1.2.2 Automatic Patient Billing (APB)
5.1.2.3 Payroll Management System
5.1.2.4 Other Non-clinical Information Systems
5.2 By Deployment
5.2.1 Private Cloud
5.2.2 Public Cloud
5.3 By Service
5.3.1 Software-as-a-Service (SaaS)
5.3.2 Infrastructure-as-a-Service (IaaS)
5.3.3 Platform-as-a-Service (PaaS)
5.4 By End User
5.4.1 Healthcare Providers
5.4.2 Healthcare Payers
5.5 Geography
5.5.1 United States
5.5.2 Canada
5.5.3 Mexico
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Iron Mountain Incorporated
6.1.3 Koninklijke Philips NV
6.1.4 Microsoft
6.1.5 Oracle
6.1.6 Amazon Web Services Inc.
6.1.7 Athenahealth Inc.
6.1.8 CareCloud Inc.
6.1.9 ClearDATA
6.1.10 Dell Inc.
6.1.11 Euris
6.1.12 e-Zest Solutions
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Healthcare Cloud Computing Industry Segmentation
Healthcare cloud computing is a practice of implementing remote servers accessed through the internet to the healthcare facility for managing and processing healthcare-related data.
The North American healthcare cloud computing market is segmented by application, deployment, service, end user, and geography. By application, the market is segmented into clinical information systems (cis) and non-clinical information systems (NCIS). By deployment, the market is segmented into private cloud and public cloud. By service, the market is segmented into Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS). By end user, the market is segmented into healthcare providers and healthcare payers. By geography, the market is segmented into the United States, Canada, and Mexico. The report offers the value (USD) for the above segments.
| By Application | |||||||
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| By Deployment | |
| Private Cloud | |
| Public Cloud |
| By Service | |
| Software-as-a-Service (SaaS) | |
| Infrastructure-as-a-Service (IaaS) | |
| Platform-as-a-Service (PaaS) |
| By End User | |
| Healthcare Providers | |
| Healthcare Payers |
| Geography | |
| United States | |
| Canada | |
| Mexico |
North America Healthcare Cloud Computing Market Research FAQs
How big is the North America Healthcare Cloud Computing Market?
The North America Healthcare Cloud Computing Market size is expected to reach USD 20.71 billion in 2024 and grow at a CAGR of 12.12% to reach USD 36.70 billion by 2029.
What is the current North America Healthcare Cloud Computing Market size?
In 2024, the North America Healthcare Cloud Computing Market size is expected to reach USD 20.71 billion.
Who are the key players in North America Healthcare Cloud Computing Market?
IBM Corporation, Koninklijke Philips N.V., Microsoft, Oracle and Amazon Web Services Inc. are the major companies operating in the North America Healthcare Cloud Computing Market.
What years does this North America Healthcare Cloud Computing Market cover, and what was the market size in 2023?
In 2023, the North America Healthcare Cloud Computing Market size was estimated at USD 18.20 billion. The report covers the North America Healthcare Cloud Computing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Healthcare Cloud Computing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Healthcare Cloud Computing Industry Report
Statistics for the 2024 North America Healthcare Cloud Computing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Healthcare Cloud Computing analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
