Market Research Future (MRFR) has published a cooked research report on the “Global Healthcare ERP Market” that contains information from 2018 to 2032. The healthcare ERP market is estimated to register a CAGR of 6.60% during the forecast period of 2023 to 2032.
Healthcare ERP Market Highlights
The global healthcare ERP market is accounted to register a CAGR of 6.60% during the forecast period and is estimated to reach USD 11.5 billion by 2032.
The healthcare ERP systems streamline data management by integrating various processes and data sources within healthcare organizations. Healthcare ERP systems assist in compliance by providing audit trails, access controls and data encryption. Further, the population health management initiative requires effective data aggregation and analysis. Healthcare ERP systems offer integrated solutions that assist healthcare providers automate and optimize various administrative and clinical processes. Healthcare ERP systems are increasingly used by healthcare organizations looking to expand their services globally.
Key Players:
MRFR recognizes the following companies as the key players in the global healthcare ERP market- Allscripts Healthcare LLC, Azalea Health, CentralBOS LLC, Deskera, Elinext Group, Focus Softnet Pvt. Ltd., Infosys Limited, Medical Information Technology Inc., Microsoft, Oracle, Premier, Rootstock Software, Sage Group PLC, SAP, The HCI Group (Tech Mahindra Limited), Wipro Limited, Workday Inc.
Segment Analysis
The global healthcare ERP market has been segmented based on offering, application and end use.
On the basis of offering, the market is segmented into Solutions and Services. The solutions segment was attributed to holding the largest market share in 2022, as it provides the essential tools and functionalities for managing different aspects of hospital and healthcare operations.
Based on application, the global healthcare ERP market has been segmented into Inventory and material Management, Supply Chain & Logistics Management, Patient Relationship Management, Finance & Billing and Others. The finance & billing segment was expected to hold the largest market share in 2022, as it is important for managing revenue cycles in healthcare.
Based on end use, the global healthcare ERP market has been segmented into Hospitals, Clinics, Long and short Facilities and Others. The hospitals segment was expected to hold the largest market share in 2022, due to the increasing penetration of public and private hospitals.
Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Healthcare ERP Market Research Report
Regional Analysis
The global healthcare ERP market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe healthcare ERP market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The healthcare ERP market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World healthcare ERP market comprises of Middle East, Africa, and Latin America.
The largest market share for healthcare ERP was maintained by the North American regional sector. This increase is attributed to large healthcare industry in this region and have a stringent healthcare regulations and compliance standards, like HIPAA in US. North American healthcare providers are early adopters of advanced healthcare technologies, the region’s technological leadership drives the adoption of healthcare ERP solutions. The region is hub for healthcare research, development and innovation, leading healthcare institutions, pharmaceutical companies and technology firms collaborate on cutting-edge healthcare projects.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for healthcare ERP is driven by factors like universal healthcare systems, stringent data privacy regulations, interoperability initiatives, an aging population and digital transformation. The market expansion is supported by an increase in the investment in digital health transformation to improve the quality and accessibility of healthcare services.
Additionally, the Asia Pacific region has one of the fastest-growing healthcare industries worldwide, driven by population growth, aging demographics and growing healthcare spending, this growth fuels the demand for healthcare ERP solutions to manage healthcare operations efficiently. Further, the government in the region are actively promoting healthcare IT adoption and digital transformation in healthcare. Also, the region is a significant hub for pharmaceutical manufacturing and life sciences research. The healthcare ERP systems enhances the patient experience by providing efficient scheduling, billing and medical record management for international patients.
Furthermore, the rest of the world's healthcare ERP market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising expenditure on healthcare and modernization of healthcare infrastructure. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study
- The global healthcare ERP market is expected to reach USD 11.5 billion by 2032, at a CAGR of 6.60% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the increasing investment in modern healthcare infrastructure and government’s active promotion of healthcare IT adoption and digital transformation in healthcare.
- Based on application, the finance & billing segment was attributed to holding the largest market in 2022, with an approximate market share of 30-60%.
- Allscripts Healthcare LLC, Azalea Health, CentralBOS LLC, Deskera, Elinext Group, Focus Softnet Pvt. Ltd., Infosys Limited, Medical Information Technology Inc., Microsoft, Oracle, Premier, Rootstock Software, Sage Group PLC, SAP, The HCI Group (Tech Mahindra Limited), Wipro Limited, Workday Inc.
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Companies Covered | 15 |
Pages | 128 |
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