Healthcare Enterprise Software Market Advent of Cloud and High Opportunity Cost of Information Technology Expected To Propel the Business by 2027

Healthcare Enterprise Software Market
Global Healthcare Enterprise Software Market Information, by type of software (patient registration software, inventory management software, scheduling software, OT management software, laboratory management software, HR management software, billing, others), by mode of delivery (on-premise and cloud based), by application (clinical, non-clinical), by end users (hospitals, clinics, pharmacy, others) – Forecast till 2023

World Healthcare Enterprise Software Market Scenario:

Software has become ubiquitous in all phases of life and healthcare is no exception to this growing trend. Healthcare enterprise software is an umbrella term consisting of tools needed to manage all aspects of healthcare such as clinical & non-clinical data, laboratory management, resource planning, scheduling software, operation theater management, customer relationship management, human resource management, etc. The global healthcare enterprise software market is projected to grow at a CAGR of 15.7 % during the forecast period of 2017 to 2023.

Healthcare Enterprise Software Market Dynamics:

Drivers

The plethora of critical benefits afforded by leveraging information technology such as ease of storage, retrieval and analysis of information, regulatory emphasis on electronic health records and concurrent cost of noncompliance, growing healthcare data and lower cost of storage, and others are prime drivers of the market.

The high opportunity cost afforded by implementation of implementation of information technology improve resource allocation, boost financial performance, patient-centric care, reducing manual paperwork, remote access, and decrease handling time are other drivers of the market. The advent of cloud and development in machine learning and analytics are expected to result in transition of healthcare.

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Healthcare Enterprise Software Market Restraints:

The restraints on the market include high installation and maintenance cost, lack of trained IT professionals, lack of awareness, bundling of software’s by vendors and others.

Healthcare Enterprise Software Market Segmentation:

To generate an accurate assessment of the global healthcare enterprise software market the report has been segmented by

Based on software types, the market has been sub segmented by patient registration software, inventory management software, scheduling software, OT management software, laboratory management software, HR management software, billing software and other types of software.

Based on mode of delivery, the market has been sub segmented by on-premise and cloud based.

Based on application, the market has been sub segmented by clinical and non-clinical applications.

Based on end users, the market has been sub segmented by hospitals, clinics, pharmacy and others.

Global Healthcare Enterprise Software Market Regional Analysis:

North America commands the largest market share owing to the presence of strong economy, rapid uptake of new technology, concerns over rising healthcare costs, and large research ecology.

Europe holds the second position and is led by Germany, France and U.K. The growing healthcare budget of European nations led by Germany at EUR 321 billion in 2015, and France at EUR 237 billion, followed by the United Kingdom at EUR 223 billion is a silver lining for the market.

Asia Pacific is expected to be the fastest growing market owing to economic development especially of India and China with a strong emphasis on healthcare IT sector.

Middle East & Africa is expected to generate moderate growth due to poor healthcare IT penetration and poor economic conditions in Africa. Middle East and Africa market is expected to be dominated by the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.

International Healthcare Enterprise Software Market Dominant Players:

The major players in the market are Athenahealth (US), Infosys Ltd. (U.S), McKesson Corporation (US), Microsoft Corporation (U.S), Medidata Solutions (US), IBM Corporation (U.S), Cognizant Technology Solutions Corporation (U.S.), Allscripts Healthcare Solutions (U.S), Cerner Corporations (US), and CompuGroup (UK) and others.

Healthcare Enterprise Software Industry News:

December 2017 – Hospital Corporation of America (HCA), acquired clinical workflow solution provider Mobile Heartbeat so as to take advantage of its Clinical Urgent Response (CURE) technology which is capable of assisting caregivers to call and hand tasks to one another, generate patient information and lab alerts. The app also consolidates communications, with a system of alarms and notifications.

November 2017 – Vital Images bought clinical information systems vendor Karos Health.

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