The global healthcare software as a service market size is expected to hit around USD 60.7 billion by 2030 from valued at USD 12.2 billion in 2020 with a CAGR of 20.5% from 2022 to 2030.
The global healthcare software as a service market size is expected to hit around USD 60.7 billion by 2030 from valued at USD 12.2 billion in 2020 with a CAGR of 20.5% from 2022 to 2030.
By Application Analysis
The patient portal segment held the highest revenue share of 17.1% in 2020. The rising adoption of patient portal software and the availability of a large number of patient portals and software are contributing to the high revenue share of the segment. Increasing demand for digital tools such as a portal for patient engagement is expected to drive the adoption of patient portals. For instance, according to an article published by DocASAP, 54% of the patients prefer digital tools over the phone for appointments reminders and communication.
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The telemedicine segment is expected to register the fastest growth over the forecast period. High adoption of telemedicine during the COVID-19 pandemic and increasing preference for these services is the key contributing factors driving the growth of the segment.
By End-user Analysis
The provider segment held the largest revenue share of over 70% in 2020 and is estimated to be the fastest-growing segment during the forecast period, owing to the high adoption rate of cloud computing and software as a service technology, by hospitals.
Many hospitals are installing and updating digital technologies to cater to challenges such as shortage of skilled workforce and limited resources, thereby driving the growth. For instance, St. Thomas Elgin General Hospital from Canada implemented SaaS technology for medical imaging referral management, in November 2021.
The payer segment is estimated to witness lucrative growth during the forecast period. Health insurance companies have started adopting SaaS technology for various applications such as medical billing, ERP, and other portal systems.
| Report Scope | Details |
| Market Size | US$ 60.7 billion by 2030 |
| Growth Rate from 2022 to 2030 | CAGR of 20.5% |
| North America Market Share in 2020 | 47.7% |
| Hybrid Market Share in 2020 | 50.2% |
By Deployment Model Analysis
The hybrid segment held the highest revenue share of 50.2% in the global healthcare software as a service market. It is attributed to the high adoption of hybrid SaaS by all industries, including healthcare as it offers a combination of public and private cloud.
The hybrid deployment model offers benefits, including flexibility to support a remote workforce, better security and data control at reduced costs, improved scalability, enhanced innovation, improved security, and easy risk management.
The public deployment model is estimated to witness lucrative growth during the forecast period. According to a study conducted by HIMMS in Germany, the majority of the hospitals in Germany use the public cloud.
By Regional Analysis
North America accounted for the highest revenue share of 47.7%. The high market presence of major players such as IBM, Google, SAP, and Microsoft in the U.S. and Canada is a major contributor to the high revenue share.
Asia Pacific is anticipated to witness the fastest CAGR during the forecast period, attributed to various initiatives undertaken by key stakeholders. For instance, in November 2021, Augnito.ai, an artificial intelligence-based voice
solution provider, introduced The Big Diwali SaaS Fest to offer and promote digitalization for clinical documentation among doctors in India.
Key Players
- Microsoft
- Salesforce
- Adobe
- SAP
- Oracle
- CISCO
- IBM
- ServiceNow
- Workday
Market Segmentation
- By Application
- Patient Portal
- Telemedicine
- Mobile Communication
- ePrescribing
- EHR Systems
- ERP & HR Portal
- Medical Billing
- Others
- By Deployment Model
- Private
- Hybrid
- Public
- By End-use
- Provider
- Payers
- By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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