Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The "Middle East And Africa Practice Management System Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
Middle East and Africa Practice Management System Market is estimated to grow at a CAGR of 8.35% during the forecast period to reach US$659.902 million by 2029, from US$376.446 million in 2022
Practice management systems improve the ability to meet important regulatory requirements reducing the time and resources required for manual data entry and ensuring that key regulatory data elements are completed by the physician easily by receiving a notification alert. These systems also offer improved and more accurate invoicing procedures and insurance details, as well as alerts for receiving advance beneficiary notice, which helps to reduce claim denials. 
As a result, using medical practice management software saves time and resources in the long run, propelling the market forward. Middle Eastern companies are migrating to the hybrid cloud as CIOs seek to improve their business applications and competitiveness. The local private clouds are where core applications and sensitive data, such as patient records, are stored. Furthermore, because of government reforms and increased technological breakthroughs in the field of healthcare IT, the software category is expected to account for the notable market share over the projection period.
Market Drivers:
Increasing healthcare expenditure
The healthcare sector in the Middle East is experiencing a significant surge in opportunities. According to trade.gov, the 2022 federal budget of the United Arab Emirates (UAE) allocated a substantial amount of USD 15.8 billion (AED 58.931 billion) for public spending, with 8.4% specifically earmarked for healthcare. Looking ahead to 2023, Saudi Arabia is poised to invest a substantial $50.4 billion in healthcare and social development, representing 16.96 percent of its budget for that year. This allocation makes healthcare the second-largest expenditure, following closely behind education.
They are placing a growing emphasis on enhancing healthcare systems and advancing digitalization. This trend is expected to result in a heightened demand for healthcare services, leading to increased investments in healthcare infrastructure and technology.
Growing technological advancements
The healthcare IT sector in the region is experiencing significant advancements in technology adoption. Smart hospitals are actively integrating sophisticated health management information systems, interconnected medical devices, and digital healthcare records. This shift towards digitization is propelled by the increasing demand for efficient record-keeping, adherence to regulatory standards, and the pursuit of enhanced patient care.
Illustrating this technological progression is the initiative taken by Emirates Health Services, which signed a memorandum of understanding (MoU) to implement an AI-based system in September 2023. The focus of this MoU is to leverage Generative AI technology in the development of patient room monitoring systems. The objective is to elevate the standards of healthcare services, aligning with the strategic priorities and goals of the government and Emirates Health Services (EHS).
In the Middle East, the healthcare industry is generating a substantial volume of data, encompassing record-keeping and patient care information. This robust data output underscores the industry's dedication to modernization and its strategic use of technology to achieve improved healthcare outcomes.
Market Restraint:
Shortage of practicing experts
The practice management system market's expansion is expected to be restricted by a scarcity of qualified IT specialists in the healthcare industry, as well as high maintenance and security expenses. The burden of rising healthcare expenses, the necessity for an integrated care system, and increased federal incentives are predicted to boost market expansion, while data privacy concerns and the expensive time required for integration are expected to stifle it. The shortage of on-site IT support services is a significant issue in this market.
Middle East and Africa practice management market segmentation by type into integrated and standalone
The segmentation of the Middle East and Africa Practice Management Market on type into Integrated and Standalone solutions. Integrated solutions offer improved efficiency, streamlined workflows, data centralization, enhanced visibility, and better decision-making.
They are particularly suitable for larger practices, multi-specialty clinics, and hospital groups seeking comprehensive solutions. On the other hand, Standalone solutions are known for being cost-effective, and easier to learn and implement. These are ideal for smaller practices with specific needs, including solo practitioners, small clinics, and practices with limited budgets or specific software requirements.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 114 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $376.45 Million |
| Forecasted Market Value (USD) by 2029 | $659.9 Million |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Africa, Middle East |
Companies Featured
- GE Healthcare Inc.
- Oracle Corporation
- MEDAS MIDDLE EAST SOFTWARE SYSTEMS LLC.
- Cordis Technology LLC.
- Topline It Solutions
- Alwafaa Group
- dWise Healthcare IT Solutions Pvt. Ltd
Market Segmentation:
By Type
- Integrated
- Standalone
By Mode Of Delivery
- On-premises
- Web-based
- Cloud-based
By Component
- Services
- Software
By End-user
- Physicians
- Pharmacists
- Diagnostic Laboratories
- Others
By Country
- UAE
- South Africa
- Saudi Arabia
- Israel
- Others
For more information about this report visit https://www.researchandmarkets.com/r/horncv
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
