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Healthcare Software as a Service Market Size

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

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Healthcare Software as a Service Market Size

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.

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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.

Healthcare Software as a Service Market Report Attributes
Report Attribute	Details
Base Year:	2021
Healthcare Software as a Service Market Size in 2021:	30 Billion (USD)
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	18.5%
2030 Value Projection:	139 Billion (USD)
Historical Data for:	2017 to 2021
No. of Pages:	220
Tables, Charts & Figures:	279
Segments covered:	Application, Deployment Model, End-user, and Region
Growth Drivers:	Rising adoption of cloud computing Growing implementation of SaaS in healthcare organization Increasing application of telemedicine, ePrescribing, and patient portal solutions, among others in healthcare sector Increasing healthcare IT spending coupled with growing healthcare infrastructure
Pitfalls & Challenges:	Data safety concerns Stringent regulatory framework

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Authors: Mariam Faizullabhoy, Gauri Wani

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.