Major Giants Cerner, Epic Systems, Allscripts Healthcare Solutions are leading the race.
Global Healthcare SaaS market to witness growth at a CAGR of 18.5% during the forecast period of 2024-2030. According to HTF MI, “Global Healthcare SaaS Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030”, the Global Healthcare SaaS Market is anticipated to grow at a compound annual growth rate (CAGR) of 18.5% from 2024 to 2030, reaching USD 19.5 Billion in 2024 and USD 51.7 Billion by 2030.
Healthcare SaaS refers to cloud-based software solutions specifically designed for the healthcare industry. These solutions help healthcare providers, payers, and patients manage, store, and analyze data, improve workflow efficiency, and enhance patient care. SaaS applications in healthcare can range from electronic health records (EHR) systems, telemedicine platforms, and patient management systems to billing and coding software.
Key and developing players who have been highlighted as part of the coverage include Cerner Corporation (United States), Epic Systems Corporation (United States), Allscripts Healthcare Solutions (United States), McKesson Corporation (United States), Athenahealth (United States), GE Healthcare (United States), Philips Healthcare (Netherlands), Siemens Healthineers (Germany), IBM Watson Health (United States), Oracle Health Sciences (United States).
The report claims that the SaaS solutions reduce the need for expensive IT infrastructure and maintenance, making them attractive to healthcare organizations. It also shared that the COVID-19 pandemic accelerated the adoption of telemedicine, driving demand for cloud-based platforms that facilitate virtual consultations and remote patient monitoring. Also, Telehealth adoption, AI advancements, and the rise of wearable devices are adding to the momentum.
