Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Healthcare Software As A Service Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global healthcare software as a service market experienced substantial growth, rising from $18.33 billion in 2022 to $21.56 billion in 2023, reflecting a notable compound annual growth rate (CAGR) of 17.6%. The trajectory is projected to continue, with the market anticipated to expand to $42.13 billion by 2027, demonstrating a CAGR of 18.2%.
The healthcare software as a service market research report forms part of a comprehensive series, providing essential statistics on the market. This includes global market size, regional distribution, competitive landscape, detailed market segments, trends, opportunities, and additional data necessary to excel in healthcare software as a service industry. Offering a comprehensive perspective, the report delves into both the current and future landscape of the industry.
Key Trends:
A significant trend in the healthcare software as a service market is the advancement of technology. Leading companies in this market are actively integrating cutting-edge solutions to bolster their market standing. Next-generation Software as a Service (SaaS) technologies, such as Artificial Intelligence (AI), Vertical SaaS, Pay-Per-Use Model, Internet of Things (IoT), and integration into existing systems, are being employed. For example, Snowflake Inc. introduced a cloud-based data-sharing platform, incorporating core SaaS data analytics, warehousing, business intelligence offerings, and on-demand consulting services for the healthcare sector.
Recent Developments:
Strategic acquisitions also contribute to market dynamics. WELL Health Technologies Corp acquired Intrahealth Systems Limited, a New Zealand-based healthcare software provider, for $19.25 million. This acquisition enables WELL Health Technologies to boost digital health SaaS revenue and expand its Electronic Medical Records (EMR) business globally.
Regional Insights:
In 2022, North America dominated the healthcare software as a service market, while Asia-Pacific is anticipated to experience the fastest growth in the forecast period. Covered regions include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Growth Drivers:
The adoption of cloud computing is a driving force behind the growth of the healthcare software as a service market. Cloud computing offers enhanced data security, scalability, flexibility, and streamlined billing and claims management for cost savings. A survey revealed that a significant portion of enterprises plan to increase their cloud budgets, particularly in the IT, healthcare, and BFSI sectors.
In conclusion, the healthcare software as a service market is experiencing robust growth due to technological advancements, strategic acquisitions, and the adoption of cloud computing. The provided report covers comprehensive market details, historical data, forecasts, and trends, offering valuable insights for strategic decision-making and growth opportunities.
Major players in the Healthcare Software As A Service market are
- Microsoft Corporation
- Salesforce Inc.
- SAP SE
- Oracle Corporation
- Google LLC
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $21.56 billion |
| Forecasted Market Value (USD) by 2027 | $42.13 billion |
| Compound Annual Growth Rate | 18.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/r74aks
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