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Healthcare Software as a Service Market Size By Application (Patient Portal, Telemedicine, Mobile Communication, EHR Systems, Medical Billing, ePrescribing, Scheduling), By Deployment Model (Private cloud, Public cloud, Hybrid cloud), By End-user (Healthcare Providers {Hospitals, Pharmacies, Diagnostic and imaging centers, Ambulatory centers}, Healthcare Payers {Public Payer, Private Payer}), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

  • Report ID: GMI5381
  • Published Date: Oct 2022
  • Report Format: PDF

Industry Overview

Healthcare Software as a Service Market size was valued at over USD 30 billion in 2021. Driven by the growing application of telemedicine, advanced patient portals solutions, and e-prescribing, the industry is poised to grow at over 18.5% CAGR from 2022 to 2030.
 

Telemedicine and e-prescription services are witnessing a surge in popularity owing to the growing preference of healthcare units to streamline the diagnosis and treatment of illnesses over distances. The practice especially gained prominence during the COVID-19 pandemic and has remained noteworthy in its wake.
 

Healthcare Software as a Service Market

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Also, increasing global smartphone and internet penetration has facilitated further development of telehealth, which the market players are leveraging to amplify the reach of healthcare institutions. The convenience offered by telemedicine to immobile and critically ill patients is largely shaping industry outlook.
 

Stringent regulatory outlook may hinder the industry expansion

Rising prevalence of cyberattacks may act as a hindrance to the healthcare SaaS market. Patient information is among the most sensitive forms of private data healthcare institutions may hold. To ensure safety of the data, many world governments are passing strict laws and regulations on software as a service-based healthcare services, products, and the industry in general. This tightening regulatory framework is likely to have a negative impact on market value.
 

Growing demand for smoother operations at practices to foster business landscape

Healthcare SaaS Market Share By Application

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Based on application, the healthcare software as a service market is categorized into the patient portal, telemedicine, mobile communication, ePrescribing, EHR, scheduling, and medical billing. The scheduling segment is expected to reach USD 13 billion by 2030. The convenience offered by scheduling tools, in terms of smoother operations at practices would foster industry trends. Advanced medical scheduling software tools help healthcare units seamlessly address patient appointments, as well as insurance claims, among other things. Scheduling software also offer a seamless treatment experience to patients with smaller wait times.
 

High security and improved scalability will propel hybrid cloud deployment model segment

With respect to the deployment model, the healthcare software as a service market is classified into private cloud, public cloud, and hybrid cloud segments. The hybrid cloud segment is projected to grow at over 19.5% CAGR through 2022-2030, driven by benefits such as enhanced scalability, better security as well as data control, and affordable costs. The deployment model helps reduce the healthcare workload by providing medical units access to sensitive patient data in real-time.
 

Rising product adoption among health insurance companies to bolster healthcare payers

Depending on the end-user, the healthcare software as a service market is bifurcated into healthcare providers and healthcare payers. The healthcare payers segment is set to cross USD 33 billion by 2030. The growth can be accredited to the rising adoption of healthcare SaaS technology in revenue cycle management, clinical information systems, and population health management, by leading health insurance providers.
 

Increasing healthcare expenditure to amplify healthcare SaaS demand in Europe

Healthcare SaaS Market By Region

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Europe healthcare SaaS market is likely to be worth over USD 39 billion by 2030 owing to rising investments towards healthcare across the continent. Meanwhile, increasing geriatric population in the region, with patients suffering from severe age-related ailments will also drive the industry scenario.
 

Product innovations to define the competitive landscape

Some of the key market players partaking in the healthcare Software as a Service market share are SAP, CISCO, ServiceNow, Salesforce, Inc., Microsoft, IBM Corporation, Oracle Corporation, Athenahealth, Inc., Allscripts Healthcare Solutions, Inc., and others. Many of these companies are emphasizing on product innovations to extend their global footprint.
 

Impact of COVID-19 on the healthcare software as a service market outlook

During the COVID-19 pandemic, the healthcare software as a service industry registered positive growth as many government organizations and healthcare institutions scrambled to adopt digital health technologies like mobile communication and telehealth solutions. The social distancing norms and prolonged lockdowns compelled the healthcare units to opt for online prescription and consultation modules. Now, in the wake of the pandemic, the adoption of SaaS applications has become widely prevalent due to the strengthening of technological infrastructure in healthcare units.
 

The healthcare software as a service market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2030 for the following segments:

By Application

  • Patient Portal
  • Telemedicine
  • Mobile communication
  • ePrescribing
  • EHR
  • Scheduling
  • Medical Billing

By Deployment Model

  • Private Cloud
  • Public Cloud
  • Hybrid Cloud

By End-user

  • Healthcare Providers
  • Healthcare Payers

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for healthcare software as a service registered a valuation of over USD 30 billion in 2021 and is expected to record over 18.5% CAGR during 2022-2030.

Europe healthcare SaaS market is slated to be worth over USD 39 billion by 2030, on account of increasing investments towards strengthening digital healthcare infrastructure, and a surging geriatric population base that requires constant medical care.

The major contenders operating in the healthcare software as a service market are SAP, CISCO, ServiceNow, Salesforce, Inc., Microsoft, IBM Corporation, Oracle Corporation, Athenahealth, Inc., and others.

Hybrid cloud segment is anticipated to grow at a 19% CAGR through 2030, driven by benefits such as high scalability, convenient cost, and better risk management for utmost patient care.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 11
  • Tables & Figures: 279
  • Countries covered: 15
  • Pages: 220

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