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According to a new report, published by KBV research, The Global Healthcare Software As A Service Market size is expected to reach $84.35 billion by 2031, rising at a market growth of 19.1% CAGR during the forecast period.
Healthcare Software as a Service (SaaS) refers to cloud-based software solutions specifically designed to cater to the needs of the healthcare industry. Unlike traditional on-premise software that requires installation, maintenance, and dedicated IT infrastructure, SaaS-based healthcare solutions are hosted in the cloud and accessed via the Internet.
The Provider segment is poised to grow at a CAGR of 18.7 % during the forecast period. The rapid adoption of electronic health records (EHR), telemedicine, remote patient monitoring, and AI-driven diagnostics has propelled SaaS usage in healthcare providers. Additionally, regulatory compliance requirements like HIPAA and GDPR have encouraged providers to migrate to secure and interoperable cloud-based platforms.
The Hybrid segment led the maximum revenue in the Global Healthcare Software As A Service Market by Deployment Model in 2023, thereby, achieving a market value of $37.6 billion by 2031. Healthcare organizations prefer hybrid cloud solutions as they allow sensitive patient data to be stored securely in a private cloud, while non-sensitive applications, such as analytics and collaboration tools, leverage the public cloud for cost efficiency.
The EHR Systems segment is growing at a CAGR of 16.7 % during the forecast period. The primary driving factor for this growth is the increasing need for efficient management of patient data and the push towards digital transformation across healthcare facilities worldwide. EHR systems enable healthcare providers to access comprehensive, real-time patient information, improving clinical decision-making and patient outcomes.
Full Report: https://www.kbvresearch.com/healthcare-software-as-a-service-market/
The North America region dominated the Global Healthcare Software As A Service Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $34.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 18.7% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 19.9% during (2024 - 2031).
By End Use
By Deployment Model
By Application
By Geography
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