According to a new report by Expert Market Research titled, “Global Healthcare ERP Market Share, Size, Report and Forecast 2023-2028″, the global healthcare ERP market size reached a value of approximately USD 6.74 billion in 2022. Aided by the escalating demand for streamlined healthcare operations and the burgeoning applications of ERP in various healthcare functions, the market is projected to further grow at a CAGR of 6.30% between 2023 and 2028 to reach a value of USD 9.7 billion by 2028.
Enterprise Resource Planning (ERP) is an integrated system used by organisations to combine, organise, and maintain the data necessary for operations. In the healthcare context, ERP software is utilised to manage clinical, administrative, and financial functions, offering benefits such as enhanced efficiency, improved patient care, and reduced costs, thereby increasing the healthcare ERP market demand. Besides its primary function of integrating various operations, ERP also facilitates regulatory compliance, decision-making, and service delivery, making it an invaluable asset in a wide array of healthcare applications, including patient care, hospital management, and supply chain management.
The escalating need for efficient and cost-effective healthcare operations is propelling the global healthcare ERP market growth. With the growing awareness of the benefits of process automation and data integration, there has been a significant shift towards ERP adoption in healthcare institutions. Additionally, the rising trend of digital transformation in healthcare, driven by factors such as population aging, chronic disease prevalence, and technological advancements, has further contributed to the increasing popularity of healthcare ERP.
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The expanding applications of ERP in various healthcare functions play a significant role in fuelling healthcare ERP market demand. In clinical care, ERP is used to manage patient information, diagnostic results, and treatment plans, enabling seamless communication among care providers and enhancing patient outcomes. In administrative functions, ERP facilitates scheduling, billing, and other tasks, improving efficiency and patient satisfaction. Moreover, ERP’s ability to manage supply chain operations, including procurement, inventory, and distribution, makes it a crucial tool for ensuring the timely availability of medical supplies and equipment, thus propelling the healthcare ERP market growth.
Furthermore, the growing emphasis on data-driven decision-making in healthcare has led to an increased focus on ERP as a powerful tool for data analytics. With the rise of value-based care and the increasing popularity of predictive analytics, ERP has emerged as a vital component in transforming raw healthcare data into actionable insights, thereby boosting the healthcare ERP market expansion.
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Market Segmentation
The market can be divided based on deployment, function, and region.
Market Breakup by Deployment
• On-Premises
• Cloud
Market Breakup by Function
• Inventory and Material Management
• Supply Chain and Logistics Management
• Patient Relationship Management
• Finance and Billing
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global healthcare ERP companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Oracle Corporation
• Veradigm LLC
• Microsoft Corporation
• Epicor Software Corporation
• McKesson Corporation
• Qad Inc.
• Odoo
• Aptean, Inc.
• Sage Group Plc
• Infor
• Others
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