USD 275 million
Microservices in Healthcare Market Size, Share, Growth Analysis, By Component(Services And Platforms), By Delivery Model(Cloud-Based Models And On-Premise Models), By End User(Healthcare Payers, Research Organizations) - Industry Forecast 2024-2031
Report ID:
SQMIG35D2237 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
87 |
Figures:
70
Microservices in Healthcare Market Insights
Global Microservices in Healthcare Market size was valued at USD 275 million in 2022 and is poised to grow from USD 336.05 million in 2023 to USD 1670.42 million by 2031, growing at a CAGR of 22.2% in the forecast period (2024-2031).
Microservices in healthcare allow the development and deployment of scalable and modular services and solutions. These microservices run individually and are highly effective in improving the interoperability of different healthcare solutions. Rapidly increasing adoption of digital services and solutions in different healthcare applications are slated to bolster the demand for microservices in healthcare over the coming years. Growing investments in healthcare infrastructure development and the rising burden on healthcare establishments could also promote the adoption of microservices in healthcare in the future. The emergence of IoT technologies is slated to create some highly lucrative opportunities for microservices in healthcare companies across the forecast period and beyond.
However, data security and compliance issues are projected to be a major roadblock for microservices in healthcare market development across the forecast period and beyond. Developed economies such as Canada, UK, United States, and Germany are forecasted to be highly remunerative spaces for microservices in healthcare providers going forward.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cloud-based Models
Fastest Growth
On-premise Models
Growth Rate
22.2% CAGR
Global Microservices in Healthcare Market ($ Bn)
Country Share for North America Region (%)
Global Microservices in Healthcare Market By Delivery Model ($ Bn)
Global Microservices in Healthcare Market By Delivery Model (%)
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Microservices in Healthcare Market Segmental Analysis
The global microservices in healthcare market is segmented based on component, delivery model, end user, and region. In terms of component, the market is segmented into services and platforms. Based on delivery models, the market is bifurcated into cloud-based models and on-premises models. Based on end user, the market is bifurcated into healthcare payers, research organizations, healthcare providers, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Component
The platform segment accounts for a mammoth share of the global microservices in healthcare demand outlook and is slated to continue to the same stance through 2031. Platforms are essential for the development and deployment of different microservices, which is why this segment holds sway over others. Increasing the scalability and adaptability of microservice platforms will also allow them to gain traction in different healthcare applications going forward.
Meanwhile, the growing deployment of microservices in healthcare is also estimated to bolster the demand for services at a notable pace over the coming years. The growing need for the maintenance of old microservice platforms and the deployment of new ones around the world are slated to create new opportunities in the services segment in the future.
Analysis by Delivery Model
Cloud-based microservices in healthcare platforms account for a dominant share of the global microservices in healthcare market and the growing popularity of cloud platforms is slated to help this segment maintain its dominance going forward. Advancements in cloud technologies and growing acceptance of cloud platforms in healthcare space are also forecasted to help this segment grow across the forecast period and beyond.
Meanwhile, the demand for on-premises microservices in healthcare will also increase at a steady pace over the coming years. Large healthcare establishments looking to localize and secure their data will be key adopters of on-premises microservices in healthcare platforms. High costs associated with the deployment of on-premises microservices in healthcare will be a key factor restraining the growth of this segment in the long run.
Global Microservices in Healthcare Market By Delivery Model, Healthcare (%)
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Microservices in Healthcare Market Regional Insights
The presence of a developed healthcare infrastructure allows North America to hold a dominant share of the global microservices in healthcare marketplace through 2031. The increasing willingness of people to spend more on healthcare and the rapid adoption of advanced healthcare technologies are also estimated to contribute to the dominance of North America. Efforts of governments in this region to develop and deploy electronic health records are also estimated to favor the demand for microservices in healthcare across the forecast period and beyond. The United States and Canada are slated to be the key markets in this region.
Meanwhile, the demand for microservices in healthcare in the Asia Pacific region is slated to increase at a rapid pace over the coming years. Rising emphasis on healthcare in developing countries of this region and growing digitization of healthcare are slated to create new opportunities for microservices in healthcare companies going forward. India, China, and Japan are slated to be the top markets for microservices in healthcare providers in the long run.
Global Microservices in Healthcare Market By Region, 2024-2031
- Largest
- Fastest
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Microservices in Healthcare Market Dynamics
Drivers
Better Integration and Interoperability
- Use of microservices allows healthcare establishments to better integrate digital technologies and services. Healthcare companies can easily integrate with third-party applications and services whilst improving the overall interoperability scope as well.
Scope of Scalability
- Use of microservices in the healthcare industry could open the potential for healthcare establishments to scale their operations to a much larger extent than they could do without microservice integration. Modular approach of microservices could offer highly attractive scalable scope for market players in the future.
Restraints
Compliance Issues
- All healthcare solutions and services need to be compliant with regulatory norms and this compliance could be a key issue dragging down the microservices in healthcare market growth in the long run as companies can face a hard time achieving said compliance.
Data Security
- Healthcare data used in microservices is highly confidential and private to patients, which is why microservices in healthcare providers should focus on safeguarding this data. Skepticism around the security of microservice platforms could slow down microservices in healthcare market growth going forward.
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Microservices in Healthcare Market Competitive Landscape
Microservices in healthcare providers can target developing economies where governments are investing in the development of healthcare infrastructure to bolster their market growth. Companies can also focus on the integration of advanced technologies such as IoT and artificial intelligence to enhance the efficiency of their products. Microservices in healthcare market players should also opt for strategies such as collaborations, mergers, acquisitions, and partnerships to maximize their business potential on a global scale.
Top Player’s Company Profiles
- Amazon Web Services Inc.
- Microsoft
- Salesforce
- IBM
- Syntel
- OpenLegacy
- Invision
- Contino
- Gurock
- GitHub Inc.
- CA Technologies
- NGINX Inc.
- Marlabs Inc.
- Broadcom
Recent Developments
- In September 2023, Apollo Hospitals, a leading hospital chain announced that it had partnered with Google to utilize its digital health platform. This move is intended to improve healthcare access to all Indians via Apollo hospitals.
- Paras Healthcare, a renowned chain of hospitals based in India, announced that it had chosen MyHealthcare as its digital transformation partner back in December 2022. This move helped Paras strengthen its digital microservices offerings.
Microservices in Healthcare Key Market Trends
- Adoption of Containerization Technologies: Healthcare establishments have increased the adoption of containerization technologies and platforms, which in turn is slated to open a plethora of new opportunities for microservices in healthcare companies. Highly efficient delivery and deployment of microservices through containerization could help market players expand their global revenue generation going forward.
Microservices in Healthcare Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, the growing digitization of healthcare and the increasing popularity of microservices are key factors that are estimated to bolster the demand for microservices in healthcare over the coming years. The presence of a developed healthcare infrastructure and high healthcare expenditure are slated to be the key factors allowing North America to account for a prominent chunk of the global microservices in healthcare market share. However, compliance and data security concerns are projected to slow down microservices in healthcare market growth across the forecast period and beyond. Increasing adoption of containerization and Kubernetes in healthcare establishments is estimated to create new opportunities for microservices in healthcare companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in Healthcare | USD 275 million |
| Market size value in 2031 | USD 1670.42 million |
| Growth Rate | 22.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Microservices in Healthcare Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Microservices in Healthcare Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Microservices in Healthcare Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Microservices in Healthcare Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Microservices in Healthcare Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Microservices in Healthcare Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Microservices in Healthcare Market Report Snapshots
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