Clinical Practice Management Software Market Overview, Business Profiles and Forecast to 2023
Market Overview:
Clinical practice management software is defined as a healthcare management software that offers a wide range of application for healthcare management. A new report on the global Clinical Practice Management Software Market, published by Market Research Future (MRFR), estimates that this market can earn profits at 15.2% CAGR during the forecast period (2017-2023).
The most significant market driver for the global clinical practice management software market is extensive demand of this software by hospitals and large number. Other market drivers that enable the growth of the global clinical practice management software market include increasing role of information technology (IT) in healthcare sector, a large number of healthcare IT companies providing client-specific or customized software solutions, burgeoning healthcare sector worldwide, demand for artificial intelligence (AI)-based intelligent software, availability of user-friendly software solutions, and improving operations of caregiving facilities. However, the high cost of this software can cause glitches in the global clinical practice management software market.
Key Players
· Allscripts
· Cerner Corporation
· Cognizant
· Dell
· Epic Systems Corporation
· GE Electronic
· Koninklijke Philips N.V.
· McKesson Corporation
· Optum Inc
· Siemens Ltd
· Xerox Corporation
Market Segmentation
The segmentation of the global clinical practice management software market encompasses deployment, end-user, and type. MRFR’s research on the market highlights many facets of the market in-depth.
The deployment-based segmentation of this market covers on-premise deployment, web-based deployment, and cloud-based deployment. By end-user, the market includes clinics, hospitals, laboratories, pharmacy, and others. By type, the market comprises standalone and integrated.
Regional Segmentation
A geographical outlining of the global clinical practice management software market covers North America, Europe, Asia Pacific, and the Middle East & Africa (MEA).
North America is the largest regional market due to demand of user-friendly software, extensive use of clinical practice management software in hospitals, technological advancement, the importance of electronic medical records, and presence of a many healthcare IT companies in this region. USA and Canada are the biggest revenue-generating markets in this region.
Due to increasing demand for patient management software solutions, Europe is the second-largest and very lucrative regional market for clinical practice management software. The availability of advanced medical facilities makes Western Europe is the larger regional market segment compared to Eastern Europe. Other factors flourishing the market in this region include the resurging economy, high density of population, increasing healthcare facilities, availability of advanced medical facilities, and increased funding in the rising numbers of specialty services (in the medical sector) offered by various healthcare providers. The biggest contributors to the market revenue in this region are France, Germany, Italy, Spain, and the UK. Research on the remaining countries in Western Europe featured in this report estimate the strong addition to market revenue from various other countries in this region, along with sizable revenue contribution from Eastern Europe.
The Asia Pacific region is the fastest-growing regional market, followed by the MEA region. In this region, the market is expanding due to increasing awareness about the use of IT in appointment scheduling, medical billing, and patient management. Other factors propelling the market growth include rapidly improving economic conditions, high density of population, market penetration of healthcare technology, and the improving healthcare sector in this region.
In the MEA region, the market is low. However, the growth of the market in this region is second highest after the Asia Pacific region as limited technology and infrastructure exist, and it has tremendous scope of expansion as most countries do not have it.
Latest Industry News
· AI-enabled data management software developer Clinithink has forged a partnership with Worcestershire Health and Care under Global Digital Exemplar (GDE) trust of the UK's National Health Service (NHS). Under the terms of the partnership, the NHS trust is set to use Clix Enrich, a clinical natural language processing (CNLP) platform, developed by Clinithin for children and mental health services.