Healthcare cloud computing Market Dynamics

Drivers: Growing adoption of EHR, e-prescribing, telehealth, mHealth, and other healthcare IT solutions due to COVID-19

Globally, the prevalence of chronic diseases, such as cancer, CVD, and diabetes, has increased significantly over the last few decades. According to the WHO (2016), CVD is the leading cause of death globally, accounting for 17.3 million deaths per year. This figure is expected to grow to more than 23.6 million by 2030. Of these deaths, an estimated 7.4 million are due to coronary heart disease, and 6.7 million are due to stroke. Similarly, according to GLOBOCAN, the number of new cancer cases diagnosed per year is expected to increase to 19.3 million by 2025 from 14.1 million in 2012.

The rising geriatric population across the globe is one of the major factors responsible for the growth in the prevalence of these chronic diseases. According to the WHO estimates, between 2015 and 2050, the global geriatric population (aged above 60 years) is expected to nearly double from 12% to 22% of the total global population; this population is estimated to reach ~2 billion by 2050. According to the National Council on Aging, ~92% of older adults have at least one chronic disease, while 77% have at least two chronic diseases.

Expected Revenue Gains:

The global healthcare cloud computing market is projected to reach USD 89.4 billion by 2027 from USD 39.4 billion in 2022, at a CAGR of 17.8%.

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Restraints: Rising data security and privacy concerns

A major concern related to cloud solutions is that the data hosted by vendors is not as secure as data stored on-premise. Patient information is considered sensitive, and a high degree of privacy needs to be maintained so that this information is accessible to authorized users only. In various countries, patient information has come under the scanner of legal frameworks, such as HIPAA (Health Insurance Portability and Accountability Act) in the US. Similarly, the EU has several directives about data protection.

In many countries, the Protected Health Information (PHI) of patients cannot be moved out of their country of origin. Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA) protects personal information that is collected, used, or disclosed. Canadian organizations may face legal issues if found to be non-compliant with the Act.

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.

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.

Challenges: Rising interoperability and portability issues

One of the major requirements of any hospital or healthcare organization is easy and rapid access to patient data. When data is migrated to the cloud by a hospital, it is stored on systems and platforms maintained by the service vendor, who can create certain interoperability challenges. Cloud APIs and interfaces pose the main challenge to organizations attempting cloud computing interoperability. The lack of standardization among the cloud service providers limits the data sharing between different cloud tools leading to portability issues. For instance, if a patient’s data is stored by one physician who refers the patient to another hospital or specialty clinic, then, in such a case, the hospital should be able to access the patient’s health records stored on a different cloud.

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To maintain maximum efficiency, it is ideal if there is a high degree of interoperability and standardization between healthcare solutions for the cloud. Major companies such as Cerner and Amazon Web Services are trying to resolve this problem. In 2019, Cerner announced the launch of a cognitive healthcare platform to deal with interoperability issues by removing the need for manual steps. The platform is being developed under the name ‘Project Apollo.