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Healthcare ERP Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
Market Report I 2024-08-27 I 100 Pages I Global Market Insights
The Global Healthcare ERP Market was valued at USD 7.3 billion in 2023 and is projected to grow at a CAGR of 6.9% from 2024 to 2032. This growth is driven by the rising adoption of ERP systems in healthcare and the incorporation of advanced technologies.
Healthcare entities are increasingly turning to ERP solutions to unify various departmental systems. This consolidation allows for streamlined management of financial data, human resources, supply chains, and patient records. It minimizes redundancy and errors, enhances workflow efficiency, and boosts data accuracy. Moreover, with real-time data analytics capabilities, ERP systems empower healthcare providers to make swift and informed decisions.
Furthermore, the infusion of technologies like artificial intelligence (AI), machine learning, big data analytics, and the Internet of Things (IoT) into healthcare ERP systems is revolutionizing operations. These advancements refine data processing, facilitate predictive analytics, and bolster decision-making, culminating in more efficient and tailored patient care. The embrace of these technologies in ERP systems stands as a pivotal growth catalyst, allowing healthcare providers to optimize resources, streamline operations, and elevate service delivery.
The overall healthcare ERP market is classified based on component, functionality, deployment, end-use, and region.
The software segment commanded a significant market share of 68.6% in 2023, due to the escalating demand for efficient management of healthcare operations, encompassing patient records, billing, supply chains, and human resources. ERP software systems centralize these processes, boosting productivity and curtailing administrative costs. The surge in cloud-based ERP solutions further propels this segment, offering benefits like scalability, real-time data access, and diminished IT overhead. For instance, hospitals and clinics are increasingly leveraging ERP software for electronic health record (EHR) management and enhancing patient care coordination, pivotal for achieving value-based care objectives.
The cloud-based segment is slate to hit USD 8.3 billion by 2032, attributed to the widespread adoption of cloud computing, enhanced internet accessibility, and the convenience of web-based applications. Unlike their on-premises counterparts, cloud-deployed solutions eliminate hefty initial investments, favoring a model of ongoing payments. Data in these cloud systems is stored remotely, allowing users to access it as needed. With mounting pressure from consumers, employers, regulatory bodies, and governing boards, healthcare entities are striving for cost-effectiveness without compromising care quality. A testament to this trend, over 1,800 healthcare organizations have adopted Oracle's Enterprise Resource Planning Cloud, benefiting from its collaborative and intuitive back-office capabilities, which support cost reduction and business modernization for enhanced productivity.
In 2023, North America healthcare ERP market was valued at USD 3 billion, with projections of a 6.3% CAGR during the analysis period. This growth is spurred by demands for operational efficiency, a bolstered healthcare infrastructure, adherence to regulatory standards, and a competitive landscape with various players pursuing diverse strategies. Highlighting this trend, in September 2022, Tecsys Inc. revealed that A.M.G. Medical Inc. (AMG), a Canadian entity specializing in medical products and home healthcare, embarked on its digital transformation journey by adopting Tecsys' cloud-based Elite Distribution ERP and its advanced warehouse management solution, Elite WMS. Additionally, the rising adoption of technologies like cloud computing and data analytics is enhancing the functionality and scalability of ERP systems, driving the industry momentum.
Report Content
Chapter 1 Methodology and Scope
1.1 Market scope and definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates and calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 360 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing adoption of ERP in healthcare
3.2.1.2 Integration of advanced technologies into ERP systems
3.2.1.3 Enhanced focus on patient data management
3.2.2 Industry pitfalls and challenges
3.2.2.1 Privacy and security concerns
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Technological landscape
3.6 Future market trends
3.7 Porter's analysis
3.8 Gap analysis
3.9 PESTEL analysis
3.10 ERP- Core features for healthcare overview
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Competitive analysis of major market players
4.3 Company matrix analysis
4.4 Competitive positioning matrix
4.5 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Component, 2021 - 2032 ($ Mn)
5.1 Key trends
5.2 Software
5.3 Services
Chapter 6 Market Estimates and Forecast, By Functionality, 2021 - 2032 ($ Mn)
6.1 Key trends
6.2 Financial management
6.3 Human resource management
6.4 Supply chain management
6.5 Inventory management
6.6 Patient relationship management
6.7 Other functionalities
Chapter 7 Market Estimates and Forecast, By Deployment Mode, 2021 - 2032 ($ Mn)
7.1 Key trends
7.2 Cloud-based
7.3 On-premise
7.4 Hybrid
Chapter 8 Market Estimates and Forecast, By End-Use, 2021 - 2032 ($ Mn)
8.1 Key trends
8.2 Hospitals
8.3 Clinics
8.4 Ambulatory surgical centers
8.5 Other end-users
Chapter 9 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 Spain
9.3.5 Italy
9.3.6 Netherlands
9.3.7 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Australia
9.4.5 South Korea
9.4.6 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.5.4 Rest of Latin America
9.6 Middle East and Africa
9.6.1 South Africa
9.6.2 Saudi Arabia
9.6.3 UAE
9.6.4 Rest of Middle East and Africa
Chapter 10 Company Profiles
10.1 Azalea Health
10.2 Deloitte
10.3 Deskera
10.4 ELINEXT
10.5 Epic Systems
10.6 Focus Softnet Pvt Ltd
10.7 Infor
10.8 MATIYAS
10.9 Oracle
10.10 Premier
10.11 QAD Inc.
10.12 Rootstock Software
10.13 SAP
10.14 SYSPRO
10.15 Workday, Inc.
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