Healthcare Enterprise Software Market Analysis
The global healthcare enterprise software market is expected to touch USD 5.20 billion at a staggering 15.7% CAGR over the forecast period (2017-2023). Healthcare software is used by nursing homes and hospitals for managing data both clinical and non-clinical. It helps in maintaining patient records electronically resulting in hassle-free storage and retrieval. Such software aids in managing, securing and analyzing information precisely in healthcare environment. Ample data can be stored here rather than handling records manually.
There are abundant factors that is propelling the growth of the healthcare enterprise software market. These factors as per the MRFR (Market Research Future) report include increase in software solutions available exclusively for healthcare management, increasing global competition, increasing awareness about enterprises software, introduction of new software services, technological advancement and innovation, entry of novel industry players, increasing number of enterprises across the world, strict rule governing the patient information management and attention on electronic health records. On the contrary, price of the software solution is likely to impede the growth of the healthcare enterprise software market.
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Healthcare Enterprise Software Market Segmentation
MRFR report offers a broad segmental analysis of the healthcare enterprise software market on the basis of types, mode of delivery, applications and end users.
Based on types, it is segmented into billing, HR management software, laboratory management software, OT management software, scheduling software, inventory management software, patient registration software and others.
Based on mode of delivery, the healthcare enterprise software market is segmented into cloud base and on-premise.
Based on application, it is segmented into non-clinical, clinical and others.
Based on end users, the healthcare enterprise software market is segmented into pharmacy, clinics, hospitals and others.
Healthcare Enterprise Software Market Regional Analysis
By region, the healthcare enterprise software market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, Americas will remain the largest market over the forecast period owing to growing need for software solutions to manage patient’s medical records coupled with increasing utilization of information technology (IT) in hospitals. Factors that are imparting towards the growth of the healthcare enterprise software market in this region include extensive utilization of software solutions for healthcare management, use of electronic records over manual records, growing significance of electronic health records, advancement in technology in software development, health record maintenance, awareness amid patients regarding significance of their medical records as well as, legal applications, and demand for software solutions that are user friendly. In the US the leading healthcare IT and medical device companies are global leaders in offering healthcare software solutions and manufacturing medical components and devices. The healthcare enterprise software market in Europe will have the second major share due to rise in use of IT for healthcare management. This market is expanding constantly and catching up slowly with the market in North America. In the APAC region, the healthcare enterprise software market is expected to grow at the fastest pace owing to increasing awareness regarding the software coupled with use of electronic records over manual records. Diagnostic devices are showing an increasing and positive growth in the market. Toshiba Medical Systems Corporation is one of the key market players in this region. The demand for healthcare outreaching supplies, population growth and increasing disease burden is driving the growth of the market in this region. On the other hand, the healthcare enterprise software market in the Middle East and Africa is anticipated to show a steady growth over the forecast period.
Healthcare Enterprise Software Market Key Players
Leading players profiled in the healthcare enterprise software market include CompuGroup (UK), Medidata Solutions (US), Athenahealth (US), Cerner Corporations (US), McKesson Corporation (US), Infosys Ltd. (U.S), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S), Allscripts Healthcare Solutions (U.S), and Microsoft Corporation (U.S).
April 2019- Amazon has come up with its latest software which makes the Alexa voice assistant Health Insurance Portability and Accountability Act (HIPAA) compliant. This will pave the way for technical giants in strengthening their foothold in healthcare.
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