According to Vision Research Reports, the global Healthcare ERP Market size is expected to worth around US$ 15.3 billion by 2030 and is projected to grow at a CAGR of 8.6% during forecast period 2021 to 2030.
According to Vision Research Reports, the global Healthcare ERP Market size is expected to worth around US$ 15.3 billion by 2030 and is projected to grow at a CAGR of 8.6% during forecast period 2021 to 2030.
Growth Factors
Healthcare organizations are under pressure to adopt technological solutions to curb the rising expenditures, ineffective hospital service management, rising workforce shortage, and growing patient population. The rising awareness regarding benefits associated with adopting ERP systems, such as high-quality care delivery solutions, eliminating back-end manual activities, and minimizing operational expenses, contribute to the healthcare enterprise resource planning market growth.
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The growing demand for ERP systems from small and medium businesses to enhance business processes and outcomes are driving the market. Seamless access to centralized data from remote locations improves the functioning and data management of the organization.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 15.3 billion by 2030 |
| Growth Rate | CAGR of 8.6% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Function, Deployment |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | McKesson Corporation; Oracle; SAP; Microsoft; Aptean; Odoo; Infor; Epicor Software Corporation; SAGE Group PLC; QAD Inc. |
By Deployment Analysis
In 2020, the on-premises deployment segment dominated the market with a revenue share of over 71.0% owing to numerous benefits such as minimum maintenance, low dependency on vendors, ease of access from remote locations, minimized costs, complete control over operations, security & privacy, and easy customization.
The cloud deployment segment is anticipated to register the fastest growth rate over the forecast period. Cloud deployed software solutions are replacing on-premises installed software solutions. The growth of cloud computing and web-based applications, enhanced ease-of-access, and improved accessibility of the internet are driving the segment.
Healthcare organizations are under significant pressure from consumers, employers, regulatory agencies, and governing boards for increasing cost-efficiency while maintaining the quality of care.
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By Function Analysis
The finance and billing segment accounted for the largest revenue share of over 30.0%. Healthcare organizations are rapidly adopting ERP systems to optimize processes and lower barriers between front-end revenue cycle management activities and back-end activities, such as claims management
Businesses are adopting these systems to eliminate financial data siloes, track profits, manage ledgers, manage fixed assets, risk management, multi-currency management, reporting, and tax management.
The inventory and material management segment is expected to record the fastest growth rate over the forecast period. Inventory and material management-based ERP modules provide improved reporting, real-time supply chain management, overall inventory analysis, enhanced quality checks, and inventory planning.
By Regional Analysis
North America held the largest revenue share of over 36.0% in 2020. This can be attributed to the rapidly developing and evolved healthcare infrastructure, growing demand for advanced technological solutions, and significant presence of key market players.
North America held the largest revenue share of over 36.0% in 2020. This can be attributed to the rapidly developing and evolved healthcare infrastructure, growing demand for advanced technological solutions, and significant presence of key market players.
Rapid Adoption of Healthcare ERP Systems Contributing to Market Growth
Healthcare enterprise resource planning (ERP) has become an indispensable part of the healthcare system worldwide. Rise in usage of ERP systems among healthcare practitioners is triggering the demand for these systems to lower operational cost and improve patient outcomes.
Several healthcare organizations, including clinics, hospitals, and emergency departments across the world have been seeking ways to implement ERP to boost operational efficiencies. Such trends are steering the growth of the global healthcare ERP market with respect to accurate information about key performance indicators (KPIs), optimization of costs, and to streamline back-end operations. The integration of ERP with the healthcare IT infrastructure in developing economies has enabled players in the healthcare industry to revolutionize their IT systems.
Healthcare ERP Effective to Overcome Uncertainties During COVID-19
Healthcare ERP has emerged as one of the most important strategies to support healthcare facilities amid the COVID-19 pandemic. Stakeholders are striving to maintain optimum inventory levels to reduce dependence on other countries for raw materials, products, medical devices or instruments, equipment, and the likes. Companies in the healthcare ERP market are gauging long-term revenue opportunities, since the healthcare system of China, the U.K., and India is under scrutiny due to the new infection wave.
Mission-critical applications such as inventory management, patient relationship management, and financial management are growing prominent amid the ongoing pandemic. Such trends are providing impetus to the global healthcare ERP market in the upcoming years.
Cloud Computing Technologies Dictating Market Expansion
Drug development innovations such as analysis of data from various external sources, tailored treatments, and collection of patient health records are providing impetus to cloud computing in the healthcare ERP market. The high prevalence of chronic illnesses among diabetic and heart patients is fueling the need of ERP systems to innovate in new therapeutics that increase clinical numbers.
The growing medical tourism for cost-efficient treatments at healthcare facilities in Malaysia is also contributing to market expansion. Increase in international and multi-state clinical trials holds promising potentials for boosting the adoption of cloud based software technologies.
Value-based Treatment for Elderly Patients Catalyzing Market Growth
Since chronic diseases are closely related to patient morbidity and mortality, companies in the healthcare ERP market are tapping revenue opportunities in patient relationship management to improve their quality of life. The growing importance of healthcare ERP for patient relationship management, especially for the geriatric population and disabled people, is augmenting market growth.
Awareness about value-based treatment and need to enhance patient experience are being recognized by healthcare facilities worldwide. Future technologies such as surgical robots and AI for the treatment of neurological conditions among patients are necessitating the importance of healthcare ERP.
Key Players
- McKesson Corporation
- Microsoft
- Infor
- Odoo
- SAP
- Oracle
- Epicor Software Corporation
- QAD, Inc.
- Aptean
- Sage Group PLC
Market Segmentation
- By Function
- Inventory and Material Management
- Supply Chain and Logistics Management
- Patient Relationship Management
- Finance and Billing
- Others
- By Deployment
- On-premises
- Cloud
- By End-user
- Hospitals
- Clinics
- Long & Short Term Facilities
- Others
- By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- UAE
- North America
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