Healthcare ERP Industry Overview
The global healthcare ERP market size was valued at USD 6.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028.
Growing healthcare expenditure, ineffective hospital service management, rising workforce shortage, and rapidly growing patient population at healthcare facilities are motivating public and private stakeholders to innovate new modes of delivering healthcare. Clinicians are growing aware of the benefits associated with these advanced technological solutions, such as delivering high-quality patient care, reducing operational costs, and eliminating data siloes in back-end operations, which is expected to contribute to the growing demand for enterprise resource planning (ERP) solutions.
Gather more insights about the market drivers, restrains and growth of the Global Healthcare ERP Market
The growing adoption rate of ERP systems amongst small and medium businesses is contributing to the rising demand for these systems to reduce operational costs and enhance functional outcomes. Centralized patient data allows seamless access from remote locations to improve patient acquisition and patient management techniques. These systems allow businesses to amalgamate data generated from human resources, manufacturing and inventories, supply chain cycles, and finances accounting, and optimize back-end processes such as payroll management, account management, and inventory management. Pharmacies and laboratories have begun adopting ERP systems for inventory management, point-of-sale profile, accounts, purchase, and selling.
Institutes and facilities are rapidly adopting cloud-deployed ERP systems due to multiple benefits associated with them, such as minimum ownership cost, agile and flexible infrastructure capacity, limited in-house technical expertise, low capital requirement, and consistent upgrades. Since on-premises systems require high capital expenditure and cost approximately between USD 50 million and USD 150 million, small and medium businesses are rapidly adopting cloud-deployed ERP systems. Cloud-based systems do not require upfront investment and are based on recurring fees.
Browse through Grand View Research's Healthcare IT Industry Research Reports.
- ERP Software Market - The global ERP software market size was valued at USD 50.57 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030. The growth is attributed to factors such as the growing need for operational efficiency and transparency in business processes, increasing demand for data-driven decision-making, and rising adoption of mobile and cloud applications.
- Remote Healthcare Market - The global remote healthcare market size was valued at USD 6.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.0% from 2021 to 2028. The spread of the COVID-19 pandemic has increased the adoption of remote healthcare technologies by patients, payers, and providers. Many patients adopted real-time virtual health platforms to avoid visiting hospitals during the pandemic.
Healthcare ERP Market Segmentation
Grand View Research has segmented the global healthcare ERP market based on function, deployment, and region:
Healthcare ERP Function Outlook (Revenue, USD Million, 2016 - 2028)
- Inventory and Material Management
- Supply Chain and Logistics Management
- Patient Relationship Management
- Finance and Billing
Healthcare ERP Deployment Outlook (Revenue, USD Million, 2016 - 2028)
Healthcare ERP Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Latin America
- Middle East Africa
Market Share Insights
- January 2020: Infor acquired Intelligent InSites, Inc., a leading provider of healthcare software and services based in North Dakota.
- March 2018: As per an article published by Xtelligent Healthcare Media, LLC, the integration of analytics and automation with inventory management has resulted in an efficient order of supplies and management of the organization.
Key Companies profiled:
Some prominent players in the global healthcare ERP market include
- McKesson Corporation
- Epicor Software Corporation
- QAD, Inc.
- Sage Group PLC
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