Healthcare ERP Market Growth Projected to Reach US$ 10.66 Billion by 2031: Growth Plus Reports Study

 | Source: Growth Plus Reports Growth Plus Reports

Newark, New Castle, USA, March 27, 2023 (GLOBE NEWSWIRE) -- According to a recent study by Growth Plus Reports, the Global Healthcare ERP Market was valued at US$ 6.2 billion in 2022 and is expected to register a revenue CAGR of 6.1% to reach US$ 10.66 billion by 2031 during the forecast period from 2023 to 2031. The study discusses the most effective tactics, market trends, major drivers and opportunities, the competitive landscape, market size, statistical statistics, and revenue.

Key Takeaways:

  • Small and medium-sized businesses' rising adoption of ERP systems is increasing demand. 
  • Rise in the number of hospital admissions to drive revenue share.
  • The finance & billing segment accounts for the largest market revenue share.

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                                                         Healthcare ERP Market Scope

Report AttributeDetails
Market size value in 2022US$ 6.2 billion
Revenue forecast in 2031US$ 10.66 billion
Growth RateCAGR of 6.1% from 2023 to 2031
Base year for estimation2022
Forecast Period2023-2031
Historical Year2021
Segments coveredFunction, Deployment, End-user, and Region.
Regional scopeNorth America, Europe, Asia Pacific, and the Rest of the World (ROW)

Market Drivers:
The expanding usage of ERP systems among small and medium-sized businesses adds to the need for these systems to reduce operational costs and enhance functional outcomes. Furthermore, a spike in hospital admissions puts pressure on healthcare facilities to give immediate treatments. 

Market Segmentation:
Growth plus reports have analyzed the global healthcare ERP market from function, deployment, end-user, and region perspectives. 

Function Segmentation: 
Based on function, the healthcare ERP market is segmented into supply chain & logistics, finance & billing, inventory management, and patient relationship management. 
The finance & billing segment dominates the market with the largest revenue share. This large revenue share is attributed to the use of ERP systems by healthcare systems to streamline procedures and lower barriers between front-end revenue cycle management operations and back-end activities like claims processing.

Deployment Segmentation: 
Based on deployment, the healthcare ERP market is segmented into on-premises and cloud.
The on-premises segment is expected to dominate the market with significant revenue share during the forecast period owing to several benefits such as cheap maintenance, low dependency on suppliers, ease of access from remote locations, lower expenditures, total control over operations, safety and confidentiality, and simple customization. 

End-user Segmentation: 
Based on end-users, the healthcare ERP market has been segmented into hospitals, clinics, and nursing homes.

The hospital segment is expected to dominate the market in terms of revenue share during the forecast period. This high revenue growth is attributed to the rising number of hospital admissions and rising private and public segment expenditures in deploying digital and advanced tools.

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Regional Growth Dynamics:
Based on region, the healthcare ERP market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America will likely account for the significant market revenue during the forecast period. This rise in revenue is attributable to the increased use of digital and automated technologies in the healthcare business in North America. 

Competitive Landscape:

  • SAP SE
  • Infor Inc.
  • McKesson Corporation
  • Microsoft
  • Aptean
  • Odoo
  • Sage Group PLC 
  • Oracle
  • Epicor Software Corporation
  • QAD, Inc.

Market players are improving their technologies to create fresh things for the healthcare industry. Additionally, leading companies focus on mergers and acquisitions, technical collaborations, and product growth strategies to advance the healthcare enterprise resource planning market. 

Recent Developments:

  • In June 2022, Cerner was purchased for $28.3 billion by Oracle Corporation, through which acquisition Cerner and Oracle want to enhance healthcare delivery by delivering greater information to medical practitioners, which leads to better treatment decisions and better patient outcomes. 
  • In June 2021, Cerner in the United States introduced Cerner RevElateTM, the company's next-generation patient accounting solution that will enhance the Cerner revenue cycle management portfolio. 

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022)
    3. Regulatory Landscape
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL HEALTHCARE ERP MARKET - ANALYSIS & FORECAST, BY FUNCTION
    1. Supply Chain & Logistics
    2. Finance & Billing
    3. Inventory Management
    4. Patient Relationship Management
    5. Others
  6. GLOBAL HEALTHCARE ERP MARKET - ANALYSIS & FORECAST, BY DEPLOYMENT
    1. On Premise
    2. Cloud
  7. GLOBAL HEALTHCARE ERP MARKET - ANALYSIS & FORECAST, BY END-USER
    1. Hospitals
    2. Clinics
    3. Nursing Homes
    4. Others

TOC Continued…

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VALUE PROPOSITIONS RELATED TO THE REPORT:

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  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

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  • Customer Base Assessment
  • Investment & Initiatives Analysis
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                                Healthcare ERP Market
                            
                            
                                Healthcare ERP Market Size
                            
                            
                                Healthcare ERP Market Trends
                            

                



        


    

        
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