Demand for innovative software solutions for healthcare management boost the growth of the global healthcare enterprise software-market

Global Healthcare Enterprise Software Market - Overview

The Healthcare Enterprise Software market is anticipated to reach USD 34.16 Billion by 2032 at  14.50% CAGR during the forecast period 2023 -2032.

Healthcare software are used by the hospitals to manage clinical & non-clinical data. They help to maintain records of the patient electronically for easy storage and retrieval. These software help to manage, secure and analyze information in healthcare environment. Enormous data can be stored in the software instead of handling manual records. The demand of healthcare software is increasing with an increase in the number of software solutions available for healthcare management. Emphasis on electronic health records and stringent rule governing the management of patient information drive this market.

There are large number of multi-national medical device and software companies. Designing software according to the specific requirements of healthcare organizations is a challenging job for software companies. These IT companies’ development enterprise software or hospital management software thus fulfil the specific requirement of their clients. Use of software in healthcare management helps to store clinical and non-clinical data on the server so that it is available across the healthcare organization. Fierce competition among medical device companies and new software solutions available for healthcare management contribute to the growth of this market. Thus, healthcare enterprise software market is blooming due to an increase in demand for developing healthcare software, research and development activities for production of innovative products and emphasis on cost reduction and patient safety.

Healthcare Enterprise Software in healthcare is the procedure of dealing with office's cases, installment and revenue generation processes and other management of healthcare organizations vital assets. In order to efficiently manage the patient revenue cycle of any organization, institute or office. In this era it is required or essential to have medical billing software, practice administration program which permits the management to successfully monitor the process. Cost of software solution may act as restrain for this market.

Microsoft Corporation (US), IBM (US), Oracle Corporation (US), Allscripts (US), Nuance Communications (US), McKesson Corporation (US), Cerner Corporations (US), Athenahealth (US), Medidata Solutions (US), CompuGroup (UK) and others are some of the prominent players at the forefront of competition in the global healthcare enterprise software market and are profiled in MRFR Analysis. 

Global Healthcare Enterprise Software Market – Regional:

Geographically, the regional market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.

America is the largest market whose growth is attributed to increasing use of information technology in hospitals and demand for software solutions for managing medical records of patients. IBM Corporation and Microsoft Corporation are players in the U.S developing healthcare software solutions. Increasing importance of electronic health records, replacement of manual records by electronic records and extensive use of software solutions in healthcare management drive the growth of this market in North America. North America is the largest market whose growth is attributed to extensive use of healthcare software by healthcare professionals and growing importance of electronics medical records.

Technological advancement in software development and easy adoption of information technology in healthcare also favor the growth of this market in North America. Maintenance of health records, awareness among patients about importance of their medical records & its legal applications and demand of user friendly software solutions drives this market in South America. Major medical device and healthcare IT companies in the U.S are global leaders in manufacturing medical devices and components as well as providing healthcare software solutions.

Europe is the second largest market owing to an increase in adoption of information technology for healthcare management. The market is growing continuously and slowly catching up with the American market in the near future.

Asia Pacific shows fastest growth in this market because of rising awareness about software and replacement of manual records by electronic ones. Asia Pacific market is expected to show fastest growth in the healthcare enterprise software market during the forecasted period. Diagnostic devices segment of this market is showing positive and increasing growth. Toshiba Medical Systems Corporation is a major market player in Asia-Pacific. Increasing disease burden, population growth, healthcare demand outreaching supplies drive this market in Asia Pacific Middle East and Africa show steady growth in this market.

Explore In-depth Details: Healthcare Enterprise Software Market Research Report

Global Healthcare Enterprise Software Market – Company Analysis:

The key players in the healthcare enterprise software market are as follows:

Cognizant Technology Solutions Corporation is an American multinational corporation that provides consulting, digital and operation services. In 2015, the company was named by Fortune magazine as world’s fourth most admired IT Solutions Company. In June 2017, the company acquired TMG health, healthcare IT Company. In June 2017, the company acquired TMG health, healthcare IT Company.

Allscripts Healthcare Solutions is a publically traded outsourcing company providing healthcare professionals with electronic health records technology and practice management. Its solutions include care coordination, clinical and patient engagement.