The latest market report published by Credence Research, Inc. “Global Medical Practice Management Software Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global medical practice management software market was valued at US$ 230.8 Mn in 2017, and is expected to reach US$ 560.8 Mn by 2026, expanding at a CAGR of 10.6% from 2018 to 2026.
Browse the full report Medical Practice Management Software Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/medical-practice-management-software-market
As per the latest research citing provided by World Health Organization (WHO), by 2020 chronic diseases will be responsible for 75% of the deaths worldwide. Chronic disease can be prevented with early consultation and medical intervention by healthcare providers worldwide. IT enabled solutions and services have undergone technical revolution in the last decade which has provided excellent healthcare services. Medical practice management software are integrating physicians, pharmacists, nurses and patients on a single platform to counteract the exorbitant economic burden associated with delayed healthcare services.
Currently standalone software are representing the largest market share in the product segment for medical practice management software market. Capability to perform activities offline, simplicity and easy to operate are few positive features which garner attraction among healthcare providers throughout the globe. Integrated software will be dominating in the near future on account of the mandate sanctioned by global healthcare authorities to integrate the electronic health records (HER) of patients with multiple medical centers. It drastically reduces economic burden associated with healthcare.
Web based solutions are currently leading the delivery segment for medical practice management software market. The inherent features of web based solutions are user friendly interface, dashboards, reports and interactive screens available to promote smooth execution of daily operations. Cloud based solutions are becoming popular on account of its beneficial features such as large storage capacity, flexibility to provide access to multiple users in real time mode and low maintenance cost.
In the present scenario North America is reigning the regional segment for medical practice management software market. Domicile of key players such as Allscripts Healthcare Solutions, Inc., EPIC Systems and eClinicalWorks and availability of trained healthcare professionals drive the medical practice management software market in North America. Mandatory requirement of maintaining electronic health records of the patients and flourishing medical industry propel the market growth in Europe. Asia Pacific 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. Middle East & Africa and LATAM are showing steady progress due to government initiatives in revamping healthcare infrastructure and market expansion by key players.
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 Market Movements:
- Increasing demand to maintain electronic health records of patients worldwide
- Availability of diverse range of web applications which are employed to perform day to day operation in medical practice management
- Cloud based applications are useful in integrating different users at the same time and has low maintenance cost