What is Medical SaaS System Market?
The medical SaaS system functions as a subscription model. Software as a service allows users to connect and use cloud-based apps over the internet. Medical SaaS system offers the benefits such as increased flexibility, improving return on investment, gaining a competitive edge, and reducing the cost of software deployment. The medical SaaS system industry is actively adopting new technological innovations to provide better care to their patients and improve their internal procedures, these factors propelling the growth of the Medical SaaS system.
Highlights from Medical SaaS System Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Practice Fusion (United States), McKesson Corp. (United States), Cerner Corp. (United States), GE Healthcare (United States), Abogen Biosciences (China), Athenahealth (United States), Waterdrop (China), eClinicalWorks (United States), SAP (Germany) and Oracle (United States) |
The market for medical SaaS systems is anticipated to expand with the global healthcare sector. The market is primarily driven by rising demand for technological advancements. There are numerous businesses working in the market to offer medical SaaS systems with a variety of functions. Due to the existence of numerous market players, the market is fragmented. Their creative and novel portfolio is drawing attention to them. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Medical SaaS System market throughout the forecasted period.
Practice Fusion (United States), McKesson Corp. (United States), Cerner Corp. (United States), GE Healthcare (United States), Abogen Biosciences (China), Athenahealth (United States), Waterdrop (China), eClinicalWorks (United States), SAP (Germany) and Oracle (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Greenway Health LLC (United States) and Epic Systems Corp (United States). Medical SaaS System Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Pharmaceutical, Medical Institutions and Others |
Type | Horizontal SaaS and Vertical SaaS |
On the basis of geography, the market of Medical SaaS System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rapid Technological Advancements and Initiatives in Medical SaaS System
- Growing Cases of Chronic Illness
Market Trend
- Increasing Demand for the Apps such as EHR, PACS, telehealth
Restraints
- High Cost Halting the Growth of Medical SaaS System
Opportunities
- Increasing Opportunity Coupled with Implementation of Artificial Intelligence
- Cloud Computing On Health Care IT
Challenges
- Concerns Related to Data Security
Market Leaders & Development Strategies
On 12th August 2021, Contakt World Technologies Corp., a SaaS company involved in health equity and access, acquired Stratum, a cloud platform. The platform enables organizations to evaluate and track health and COVID-19 symptoms.
On 16th March 2022, Epic Systems announced the launch of the garden plot, which is new software-as-a-services designed for independent medical groups looking to use Epic HER tools. Garden plot gives a small independent group access to Epic, a software. This software offers high-quality and community-driven care while meeting evolving regulatory requirements.
Key Target Audience
Medical SaaS System Services, New Entrants/Investors, Analysts and Strategic Business Planners, Government Bodies, End-Users and Others