Healthcare Software As A Service Market (By Product: Ententerprise Content Management, Business Intelligence, Customer Relationship Managemen, Revenue Cycle Management; By Delivery Mode: Cloud-based, On-Premise; By Applications: Health care providers, Health care players, Telemedicine, Medical Billing, Patient portal, Mobile communication, e Prescribing, EHR Systems, ERP & HR portal; By Deployment; By End User) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032

The global healthcare software as a service market size was estimated at USD 28.66 billion in 2022 and it is expected to reach around USD 77.43 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 10.5% during the forecast period 2023 to 2032.

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Key Takeaways

• By application, the patient portal segment accounted for a 17.4% revenue share in 2022. 
• By end user, the provider segment held 71% revenue share in 2022.
• By deployment model, the hybrid segment hit 50.5% revenue share in 2022.
• North America region has garnered a revenue share of around 47.8% in 2022.
• Asia Pacific is expected to grow at the highest CAGR over the forecast period.

Increased utilization of clouding and wireless technologies worldwide and increasing the growth of digitalization in health care center. Healthcare center plays a major role in driving the growth of the health care software and installing the software system in to the devices. Which helps to boost the healthcare software as a service (SaaS). According to investigation around 23% of organizations are deciding for installing the cloud process system in future. As per survey about 94% center are utilizing the healthcare software as a service.

Healthcare centers are in future planning to install the SaaS and many of the centers have already installed having the benefits of ease of workflow, management of the work, cost benefits, managing capabilities, increased administration, ease of integration, guarantee, disaster recovery, customized infrastructure, scalability, customer supports multiple applications of SaaS in database server, mobile services, website, email communications, customer relationship management, data analytics, documentation management, productivity apps, ERP.

Healthcare Software As A Service Market Scope

Growth Factors

Increased developments and benefits from the SaaS and increased digitalization across the various regions in the health sector as increased the market of SaaS. Impact of Covid-19 on SaaS has enhanced the digitalization. Increased digitalization and managing health care center and other work flow through digitalized method due to shortage of multiple necessities in the healthcare center and manpower. Various tasks are performed through digitalized method utilizing cloud method during the pandemic situation. Furthermore, increased usage of SaaS in health care centers, improved data management, disparate systems and increasing further planning to install the SaaS and to update the software with advanced new features developed for easy work flow and to drive the healthcare SaaS market during the forecast period.

• Increased integration of wearable devices, telehealth, remote patient monitoring, surging patient, ERP, CRM, mobile applications support for the expansion of the SaaS to drive the market growth with increased demands from the healthcare centers having multiple benefits.
• The rapid acceptance and development of the clouding technologies and increased development of the software in the health care sectors and easy transmission of information from one machine to another uploading over a software using the clouding technology to increase the market growth.
• The market players involved in introducing new health care development software’s managing the documentation with less paper work and easy access of the patient’s health information.
• Health care software’s utilized in acute care hospitals, critical access hospitals, rehabilitation centers, specialty physicians and many more.

Healthcare Software As A Service Market Dynamics

Market Drivers

Software systems developed with new innovations and technologies as per the requirements from the healthcare institutes for managing the patients’ health information, documentation, telemedicine and many more. Utilized in acute care hospitals, critical access hospitals, multi special physicians, rehabilitation centers, psychiatric hospitals and many more. Majorly use of software in managing hospital system, hospital information system and hospital resource planning drives the market of Healthcare SaaS during the forecast period.

Increased needs of the software services in health care centers integration new software’s and increased completion have increased market growth across the world.  Rising growth and integration of the software’s in the health care centers. Market players focused on developing the newly developed software’s with new features and reduced costing of the software, increased research and development process, inpatient security drives the market to grow during the forecast period.

Healthcare SaaS to hold the top position in the market, revenue cycle management during the forecast period. Expansion of the financial data management to increase the business by developing system software’s with higher efficacy and good productivity, increased remote patient monitoring, home health care devices with increasing geriatric and pediatric populations led to increase the market of health care software as a service.

Market Challenges 

• Increased Healthcare SaaS with newly developed technologies and new features have increase the market rate. Developed software systems led to rising cost of the software is a challenging task for increasing the market growth of SaaS during the forecast period.
• Rising competition of the system software developers with new innovative features developed by the different companies may restraint the market growth.
• Software system with wireless connections through clouding and other networking systems, decrease in the network connectivity may led to stop the work flow management and data security also challenges for the market to growth during the forecast period.

Market Opportunities

• Increasing software as a service in the health care centers, clinics and many more across the various regions and rising needs and requirements from the health care center for installing the software’s to access easy work flow management, increased revenue cycle management, managing the hospital information, managing the health records of the patient, telemedicine, store and forward telemedicine, prescription can be managed over the SaaS. Increased IT development infrastructures with new software’s installed.
• Effective and efficient work flow with good productivity and increased patient health care helps to boost the Healthcare SaaS market to a greater extent during the forecast period. The market players involved in developing and updating the software system technology contribute to enhance the market.

Product Insights

Segmentation of health care software as a service based on the product divided in to eEnterprise content management, business intelligence, customer relationship management, revenue cycle management are developed products with improved software systems helps to growth the market revenue share with increased management and increased patient care to expand the SaaS market to grow high. 

Delivery Mode Insights

Segmentation of health care software as a service based on the deliver mode it is divided in to cloud based and on premise, increased clouding connectivity and on-premise connectivity for the easy work flow management over the software.

Based on deployment services includes utilization of software’s in public, private and hybrid. Increased utilization of the software system and increasing the SaaS to enhance the market to grow and develop more updated software’s.

Application Insights

Segmentation of health care software as a service based on the application includes multiple applications such as medical billing, ERP & HR portal, EHR system, prescribing, mobile communication, telemedicine, patient portal, health care providers, health care players these applications are contributing to grow the heath Care SaaS market to a greater extent with increasing applications in health care center.

Healthcare Software As A Service Market Share, By Region, 2022 (%)

Geography Insights

Segmentation of healthcare software as a service on the basis of geography North America to hold the highest position to increase the utilization and development of SaaSin health care centers with rapid acceptance of the developed technology driving the market to grow high.

Asia Pacific region also examined to grow the market at a high CAGR with increased digitalization helps to support the growth of SaaS in health care. Other regions such as Europe, Latin America, Middle East and Africa also contributed to enhance the market rate with increased revenue share during the forecast period.

Recent Developments

• In the year January 2022, Tiger connect health care collaboration supporter and provider of software has gaining a 300.3 million funds from vista equity partners to further more expand platform  over 7000 health care companies use Tiger connects HIPPA- compliant software technologies. Increased communication across care teams, allowing to provide patient health care with low expenses.
• In the year 2022 January, Stryker has introduced plans to buy a Vocera communications for $2.97 billion. Vocera focused on communication and work flow and system software providing to health care clinics, hospitals and increased patient care and patient to doctor communications. Company also produces gadgets for health care professionals and smart phones.

Healthcare Software As A Service Market Companies

• Jag Products LLC (US)
• Oracle (U.S)
• Cognizant (U.S)
• INFOR  (U.S)
• Epic Systems Corporation (U.S)
• Elinext (U.S)
• Meta (U.S)
• CPSI (U.S)
• SAP (Germany)
• Medical Informatin Techology Inc. (U.S)
• eClinicalWorks (U.S)
• athenahealth (U.S)
• Koninklijke Philip N.V (Netherlands)
• Change Healthcare (U.S)
• Cerner Corporation (U.S)
• Optum Inc. (U.S)
• Allscripts Healthcare LLC  (U.S)

Segments covered in the report

By Product

• Ententerprise Content Management
• Business Intelligence
• Customer Relationship Management (CRM)
• Revenue Cycle Management (RCM)

By Delivery Mode

• Cloud- based
• On-Premise

By Applications

• Healthcare Providers
• Healthcare Players
• Telemedicine
• Medical Billing
• Patient Portal
• Mobile communication
• e Prescribing
• EHR Systems
• ERP & HR portal
• Others

By Deployment

• Public
• Hybrid
• Private

By End User

• Provider
• Payer

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)