Industry Outlook
The medical practice management software market is anticipated to reach US$ 560.8 Mn by 2026 performing at a CAGR of 10.6 % during the forecast period from 2018 to 2026. Medical practice management software are used by various healthcare organization to smoothly perform their day to day operations. The tasks which are accomplished by employing medical practice management software are from booking patient’s appointment to maintaining electronic health records (EHR) of the patient. Medical professionals throughout the globe have shown positive response and better productivity after using the medical practice management software.
Market Synopsis
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"Capability to run offline and ensuring confidentiality of patient’s medical data makes standalone solutions popular worldwide"
Standalone solutions are dominating the product segment for medical practice management software market. The major parameters responsible for the popularity of standalone software solutions are its capability to run offline and ensures confidentiality of patient’s medical database. It is very simple to operate and access to stored data is very easy and convenient requiring less maintenance charges. Integrated software solutions will be experiencing outstanding growth in the near future on account of government mandate for integrating electronic heath records (EHR) with practice management software. Since it can be accessed by multiple users availability of expert opinion for critical medical conditions are provided on real time mode. Medical centers in rural areas can provide and receive feedback pertaining to patients’ medical database drastically reducing cost associated with healthcare expenditure.
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"Inherent features such as dashboards, reports, interactive screens and availability of different applications propel the web based delivery mode market"
In the present scenario web based are leading the delivery mode segment for medical practice management software market. The key factors responsible for the positive growth of web based software services are the technological revolution over the last decade. Inherent features such as user friendly interface and availability of different applications pertaining to medical practice management. Presence of dashboard, reports and interactive screens in web based solutions is helpful to the trained healthcare professionals in streamlining the patient related medical data. The limitations associated with web based solutions are the frequent security breach. Cloud based software solutions is set to garner magnificent growth during the overcast period owing to its major attributes such as large storage space, low operational expenditure incurred, enhanced user flexibility in revisiting stored medical data and highly secured.
"Availability of trained healthcare professionals to drive the medical practice management software market growth in North America"
North America is currently leading the geographical segment for medical practice management software market. The features attributed towards the impressive growth of North America are establishment of outstanding healthcare infrastructure and availability of highly trained healthcare professionals. Domicile of key players such as Allscripts Healthcare Solutions, Inc., EPIC Systems and eClinicalWorks give a strong impetus in nurturing the medical practice management software market in North America. Enhanced government funding and stringent regulatory norms sanctioned by European Medical Agency (EMA) related to preserving patients treatment database for future referencing propels the medical practice management software market growth in Europe. Asia Pacific, Middle East & Africa and Latin America serve as a lucrative market on account of rampant growth of IT enabled services sector and increasing number of medical centers in the urban areas.
Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
Market assessment for the report titled medical practice management software is necessary to predict the market estimation and compounded annual growth rate for the forecast period 2018 to 2026. Market segmentation is done as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Million |
| Segmentation |
By Product (2016–2026; US$ Mn)
• Standalone
• Integrated
|
|
By Delivery Mode (2016–2026; US$ Mn)
• On Premise
• Web Based
• Cloud Based
|
|
Geography Segment (2016–2026; US$ Mn)
• North America (United States and Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
Software based companies providing healthcare services are Allscripts Healthcare Solutions, Inc., AthenaHealth, Cerner Corporation, EPIC Systems, eClinicalWorks, GE Healthcare, Greenway Health LLC, McKesson Corporation, Meditech and Vitera Healthcare Solutions.
Key questions answered in this report
- How is the organic and inorganic market growth strategies are employed to assess the medical practice management software market performance?
- Who are the major software companies providing e-healthcare services?
- What is the demand and supply chain associated with the medical practice management software market?
- What are the latest innovation features and apps provided by software companies providing e-healthcare services?
- Which is the largest and fastest growing product segment for medical practice management software market?
- Which is the largest and fastest growing delivery mode segment for medical practice management software market?
- Which is the largest and fastest growing regional segment for medical practice management software market?
