Europe Healthcare Cloud Computing Market

Europe Healthcare Cloud Computing Market Size (2022 to 2027)

The size of the European healthcare cloud computing market is estimated to be growing at a CAGR of 14.8% between 2022 to 2027

The European healthcare computing market is expected to be primarily led by the factors such as technological advancements in the healthcare sectors and the rising development of cloud-based HCIT solutions by healthcare providers. As Cloud storage enables data usability and increases, real-time data processing is likely to increase the market growth. Healthcare services are growing their emphasis on healthcare digitization and introducing cloud-based HCIT applications to enhance the care process. Cloud computing has replaced the conventional paper healthcare system by offering more incredible speed and reliability in data storage, which is expected to propel the European healthcare cloud computing market expansion.

The proliferation of high-speed internet in the developed countries such as Germany, the UK and Spain, and the effective enforcement of regulatory acts in this region is more likely to boost the European healthcare cloud computing market growth. On the other hand, the growing adoption of these innovations, safer data sharing, and remote partnerships allow boundary care accessibility—the increased need for adequate data handling resources from a growing patient population suffering from different diseases. Furthermore, government and private companies' demand for stringent legislation and increased expenditures support the hospital cloud computing market.

Also, public awareness, expanding government organizations, and active involvement by key market players GE Healthcare are expected to drive market growth. The need to lower costs in the healthcare business environment is driving the European healthcare cloud computing market. During the forecast period, many healthcare organizations (HCOs) in Europe are allocating funds for cloud computing migration which encourages European healthcare cloud computing market growth. Health Information Exchange (HIE) allows for the electronic sharing of clinical information between various healthcare information systems and insurance companies.

Patient information is vulnerable, and a high level of privacy must be ensured to prevent unauthorized individuals from accessing it. Data vulnerability is becoming more common as the number of medical data grows and healthcare undergoes digital transformation. However, data protection concerns are regarded as one of the growth impediments because cloud solutions, in which the provider hosts data, are not as reliable as data stored on-premise.

Impact on COVID-19 on the European Healthcare Cloud Computing Market:

The Global pandemic COVID-19 is projected to have a favorable overall impact on the European healthcare cloud computing market. The market growth is attributed to the growing awareness of the potential of cloud technology, which includes data storage and processing services managed by third-party service providers to help enhance the protection, quality, and reliability of health care. This becomes increasingly necessary in the fight against COVID-19. Because of the vast number of research projects and clinical trials being conducted around Europe, the research data produced must be kept in a safe facility capable of storing large volumes of data. Cloud storage addresses both resource limitations and security concerns by hosting massive volumes of data on private dedicated cloud networks. However, Cloud-based applications provide significant benefits to organizations and businesses across the COVID-19 pandemic by allowing for quicker deployment and upscaling through various environments. 

This research report on the European healthcare cloud computing market has been segmented & sub-segmented into the following categories.

By Product:

• Healthcare Provider Solutions
  • Clinical Information Systems (CIS)
    • EHR/EMR
    • PACS and VNA
    • RIS
    • LIS
    • PIS
    • PHM Solutions
    • Telehealth Solutions
    • Other CIS
  • Non-clinical Information Systems (NCIS)
    • RCM Solutions
    • Financial Management Solutions
    • HIE Solutions
    • Supply Chain Management Solutions
    • Billing & Accounts Management Solutions
    • Other NCIS
• Healthcare Payer Solutions
  • Claims Management Solutions
  • Payment Management Solutions
  • Customer Relationship Management Solutions
  • Provider Network Management Solutions
  • Fraud Management Solutions

By Deployment Model:

• Private Cloud
• Hybrid Cloud
• Public Cloud

By Component:

• Services
• Software

By Pricing Model:

• Pay-as-you-go
• Spot Pricing

By Service Model:

• Software-as-a-Service (SaaS)
• Infrastructure-as-a-Service (IaaS)
• Platform-as-a-Service (PaaS) Payers

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of EU

Regionally, the European healthcare cloud computing market is predicted to occupy a substantial share in the global market during the forecast period due to the increasing investments by colocation service providers to extend their geographic reach and appeal to customers' computing needs was due to the growth of the cloud computing market in Europe.

The German healthcare cloud computing market is estimated to play a leading role in the European market during the forecast period. Germany will contribute more than US$1 billion to the region's scale and clout in the next 5 to 6 years. The rising disease burden in the region and numerous government initiatives focused on healthcare digitization drive the growth of the healthcare cloud computing market.

The United Kingdom healthcare cloud computing market is one of the fastest-growing countries in the clouding computing market. The establishment of many data centers in the United Kingdom has resulted in the emergence of cloud computing providers. When businesses move to cloud systems to reduce Capital expenditures costs and improve operating performance, demand for computing resources will increase over the forecast period.

KEY MARKET PARTICIPANTS:

Some of the noteworthy companies dominating the European healthcare cloud computing market analyzed in this report are IBM, CareCloud Corporation, Agfa-Gevaert N.V., Merge Healthcare Inc., Carestream Corporation, Cerner Corporation, Microsoft Corporation, Oracle Corporation, ClearData Networks Inc., Sectra AB, Nuance Communications, GE Healthcare, athenahealth Inc., NextGen Healthcare, Siemens Healthineers, and Dell Inc.