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 (Healthc

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

The global healthcare software as a service (SaaS) market is anticipated to register considerable gains through 2030. The industry expansion can be attributed to growing efforts towards strengthening the global healthcare infrastructure through R&D initiatives and advanced technologies. Rising disposable income and high penetration of the internet and smartphones have created a favorable scenario that fosters product sales. Subsequently, industry players have been investing more in innovation to seamlessly handle patient information and improve disease management.

While there are many growth opportunities, factors such as strict government regulations, in the form of privacy laws, are likely to hamper the market expansion. However, the demand for improving capacity to effectively address future pandemics is pushing market players to devise innovative solutions.

Based on the application, the industry is segmented into the patient portal, telemedicine, ePrescribing, mobile communication, EHR, scheduling, and medical billing. The EHR segment amassed revenue of over USD 3.3 billion in 2021. EHR software delivers better patient care and also automates a number of tasks for the practice. EHR allows physicians to share patient information with each other remotely, in real time, facilitating enhanced clinical outcomes by ensuring that the shared data is always up-to-date, accurate, and complete.

On the basis of the deployment model, the industry is categorized into private, public, and hybrid cloud. The private cloud deployment model is witnessing notable demand owing to its restricted area of operation, which minimizes the possibility of data breaches. The model delivers a level of security by storing all sensitive patient data within premises. The model’s ability to offer greater customization, adhere to regulatory compliance, and ensure lower total cost of ownership are fostering segment growth.

Based on end-user, the industry is categorized into healthcare providers and healthcare payers. The healthcare provider segment is anticipated to show a considerable growth rate, fueled by the growing adoption of healthcare SaaS platforms in major healthcare units like advanced diagnostic centers, hospitals, and others. The technology offers customized solutions for healthcare units and has great scalability which complements the healthcare space.

From a regional viewpoint, the market is segmented into North America, Asia Pacific, Europe, MEA, and LATAM. MEA healthcare SaaS market was valued more than $589 million in 2021, driven by the rising adoption of digital healthcare technologies in the region. Rising awareness about how SaaS technologies help reduce healthcare burden and instances of human error, while maintaining accurate patient data for quality care, is augmenting regional growth. On the other hand, the growing adoption of telehealth and mobile health applications, and increasing digitalization is anticipated to bolster revenues from Asia Pacific market.