Pune, India, June 12, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Medical Scheduling Software Market Size Report and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Software and End User,” the market is expected to reach USD 927.09 million by 2028 from USD 435.24 million in 2022; it is estimated to grow at a CAGR of 13.4% from 2022 to 2028. The global medical scheduling software market growth is driven by the rising adoption of patient-centric approach by healthcare providers, surge in use of smart devices for monitoring health and shortage of nursing staff and doctors.
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Global Medical Scheduling Software Market Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | USD 435.24 million in 2022 |
| Market Size Value by | USD 927.09 million by 2028 |
| Growth rate | CAGR of 13.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 147 |
| No. of Tables | 57 |
| No. of Charts & Figures | 66 |
| Historical data available | Yes |
| Segments covered | Software and End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Browse key market insights spread across 147 pages with 57 list of tables & 66 list of figures from the report, "Medical Scheduling Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Software (Installed Software and Web-Based Software), End User (Hospitals, Clinics, and End User)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/medical-scheduling-software-market
Global Medical Scheduling Software Market: Competitive Landscape and Key Developments
TimeTrade, AdvanceMD, Inc., Yocale Network Corporation, Voicent Communications Inc., WellSky, Daw Systems, Inc., ByteBloc Software, Workpath, Delta Health Technologies, Inc., and DHS Worldwide are among the leading companies operating in the global medical scheduling software market. These players are focusing on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping prevailing business opportunities. Many players are launching innovative products in the medical scheduling software market with advanced features and cost-effective prices. For instance,
In February 2022, Daw Systems, Inc. announced that it is a recipient of the 2021 Surescripts White Coat Award for Highest Accuracy. Daw Systems, Inc.'s core product, ScriptSure Cloud ERX v2.0, incorporates extensive functionality from the Surescripts network, allowing medical professionals to send prescriptions to pharmacies electronically.
In January 2021, TimeTrade Systems acquired SilverCloud LLC, a customer experience and knowledge management software provider for financial institutions. The combined company will initially be called TimeTrade SilverCloud.
In April 2021, WellSky announced new enhancements to its data analytics solution. The new addition to the CareInsights solution suite, known as CareInsights Guidance, provides actionable visit utilization insights to balance the goals of care quality and patient health improvement with the need to control costs and early adopters of the new capabilities already realize the benefits of their patients, staff, and business.
In May 2021, DHS Worldwide Software Solutions announced the recent expansion to the DHS support and Quality Assurance Team. This growth strengthens the Quality Control / Data Security division in response to the evolving IT security landscape. DHS is also proud to announce the release of Total Recall SQL Version 8.9 / Envision Version 4.9.
Shortage of Nursing Staff and Doctors to driving Global Medical Scheduling Software Market:
There has been a significant shortage in the number of healthcare professionals such as nurses, physicians, and doctors across the globe. For instance, the global nursing shortage was a well-recognized issue before the onset of the COVID-19 pandemic. In 2020, the World Health Organization (WHO) published the first State of the World’s Nursing (SOWN) report, revealing that the nursing workforce was at 27.9 million globally and projected there was a shortfall of 5.9 million nurses. As per the report, 89% of these nurse shortages were concentrated in low- and lower-middle countries, especially in countries in South-East Asia, Africa, and Eastern Mediterranean. With the aging of the nursing workforce, 17% of nurses across the globe are anticipated to retire within the next ten years, and 4.7 million more nurses must be educated and employed to maintain current workforce numbers. In total, 10.6 million more nurses will be required by 2030.
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Similarly, the US is facing a severe shortage of physicians and nursing staff, majorly due to the aging population, along with the impending retirements of older physicians. According to the data published by the Association of American Medical Colleges (AAMC), In June 2021, the US is expected to experience a shortage of of between 37,800 and 124,000 physicians by 2034, impacting patient care across the nation. Additionally, the huge shortage of nursing staff across the globe is due to an influx of patients into the health system. The burden of resource shortage impacts nurses as it increases their workload. The rising shortage also leads to the increased wait time for patients, higher risks of mistakes, and inappropriate personal attention to the patients in the hospitals.
Manual appointment scheduling by the staff at healthcare facilities is associated with various limitations, such as increasing difficulty in decision-making due to the rising complexity of the process and the growing organization's size. Moreover, the decisions made are not recorded in any enterprise system; the knowledge is only shared during human interactions. Thus, shifting from manual scheduling and dispatching to an automated approach that offers solutions to the increasing shortage of nursing staff and physicians are boosting the growth of the medical scheduling software market.
Global Medical Scheduling Software Market: Segmental Overview
Software-Based Insights:
Based on software, the medical scheduling software market is bifurcated into web-based software and installed software. In 2022, the web-based software segment held a larger share of the market and expected to register the higher CAGR during the forecast period. Web-based scheduling software has recently been utilized on a large scale across healthcare facilities. A Web-based application enables individuals to conveniently and securely book their appointments and reservations online with the help of a web-connected device, such as a laptop, computer, smartphone, or tablet. Once a date has been finalized, the system automatically confirms the booking and records it without any intervention from the staff. Thus, the adoption of web-based software by hospitals and clinics are increasing which is driving the medical scheduling software market growth.
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End User-Based Insights:
Based on end user, the medical scheduling software market is segmented into hospitals, clinics, and others. The hospitals segment held a largest share of the market in 2022 and is expected to record a higher CAGR during the forecast period. The hospital segment is expected to have lucrative growth opportunities over the next few years. Due to the higher number of patients getting admitted to hospitals, the hospital segment is estimated to grow faster during the forecast period. Also, increasing prevalence of chronic diseases such as cardiovascular disease, cancers, and chronic diseases fuels the demand for medical scheduling software to manage hospital patient visits.
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