Healthcare ERP Market to Hit USD 9.6 Bn by 2031 with CAGR of 6.5% | Transparency Market Research

The global 𝐡𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 (𝐄𝐑𝐏) 𝐦𝐚𝐫𝐤𝐞𝐭 achieved a valuation of US$ 4.8 billion in 2020. Projections indicate a steady expansion, with an estimated Compound Annual Growth Rate (CAGR) of 6.5% from 2021 to 2031. By the conclusion of 2031, the market is forecasted to reach a value of US$ 9.6 billion.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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The future trajectory of telehealth and remote patient monitoring presents promising revenue opportunities for stakeholders within the healthcare ERP market, particularly in the aftermath of the COVID-19 peak period. Despite a receptiveness among healthcare professionals and medical staff in Africa towards cloud-based and software solutions, concerns regarding job security within African healthcare facilities are surfacing as significant barriers. Thus, there is a burgeoning need for software companies to invest in comprehensive training programs tailored for healthcare professionals and medical staff to bridge the technology gap effectively.

Furthermore, the surge in ERP implementation across hospital facilities, driven by the necessity to manage vast quantities of patient data collected through digital resources, is expected to propel market growth. As healthcare institutions increasingly rely on digital platforms for data management and analysis, the demand for robust ERP solutions capable of streamlining operations and enhancing efficiency is poised to rise substantially.

𝐂𝐥𝐨𝐮𝐝 𝐂𝐨𝐦𝐩𝐮𝐭𝐢𝐧𝐠 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐃𝐢𝐜𝐭𝐚𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧

Innovations in drug development, including the analysis of data sourced from diverse external channels, personalized treatments, and the aggregation of patient health records, are driving the adoption of cloud computing within the healthcare ERP market. The escalating prevalence of chronic diseases among diabetic and cardiac patients underscores the imperative for ERP systems to advance in novel therapeutics aimed at bolstering clinical outcomes.

The burgeoning trend of medical tourism, particularly for cost-effective treatments at healthcare institutions in Malaysia, is fostering market growth. Additionally, the uptick in international and multi-state clinical trials presents promising opportunities for accelerating the uptake of cloud-based software technologies.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬:

Allscripts Healthcare, LLC,Azalea Health,CentralBOS, LLC,CPSI,Deskera,Elinext Group,Focus Softnet Pvt. Ltd.,Infor,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.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Offering

Solutions
Cloud-based
On-premises
Services

Application

Inventory & Material Management
Supply Chain & Logistics Management
Patient Relationship Management
Finance & Billing
Others

End-user

Hospitals
Clinics
Long & Short Term Facilities
Others

𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐩𝐲:
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𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

Healthcare business management system adoption remains low, encompassing various business applications like human resources, payroll, materials management, and supply chain management.

Approximately 60% of U.S. hospitals lack an ERP solution, although adoption rates have increased from 18.8% in 2008 to 38.4% in 2018, according to HIMSS Analytics Logic Platform data.

Despite monitoring over 200 health IT tools, healthcare advisors anticipate continued growth in ERP adoption, with nearly 200 hospitals currently in the process of contracting, installing, or planning to purchase ERP solutions.

Over the past decade, hospitals have prioritized technological advancements for clinical and financial improvements, spurred by initiatives like value-based care and federally mandated meaningful use, leading to increased installation of EMR systems.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The global healthcare ERP market is regionally segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

In North America, the market is driven by increased demand for advanced technological solutions by healthcare professionals to ensure high-quality patient care, along with the need to eliminate data silos for streamlined back-end operations and cost reduction.

The market in North America is further propelled by the region's rapidly expanding and robust healthcare infrastructure, the presence of major industry players, and a rising demand for sophisticated technological solutions.

𝐏𝐞𝐫𝐤𝐬 𝐟𝐨𝐫 𝐁𝐮𝐲𝐞𝐫𝐬:

Employing Strategic Insights to Elevate Customer Experience and Increase Per Customer Revenue
Providing Product Planning Assistance and Roadmap to Marketing Strategies
Utilizing Data-driven Approaches by Researchers to Deliver New and Optimal Business Solutions
Identifying Preferred Target Demographics, Target Regions, and Market Channels

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐂𝐮𝐬𝐭𝐨𝐦 𝐀𝐧𝐭𝐢𝐛𝐨𝐝𝐲 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/03/22/2632011/0/en/Custom-Antibody-Market-Size-to-Cross-USD-1-Bn-by-2033-with-CAGR-of-8-2-Transparency-Market-Research.html

𝐏𝐥𝐚𝐬𝐭𝐢𝐜 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/03/23/2633730/0/en/Plastic-Recycling-Market-Value-to-Reach-US-77-8-Bn-by-2031-Owing-to-rising-concerns-about-plastic-pollution-and-its-impact-on-the-environment.html

 

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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