Press release
Clinical Practice Management Software Market To Catch Foster Growth at 15.2% CAGR till 2023 – by Optum Inc., Dell, McKesson Corporation, Koninklijke Philips N.V., Cognizant, etc
Market Research Future (MRFR) in its recently published study report asserts that the Global Clinical Practice Management Software Market is expected to evaluate at exponential value by 2023, registering an impressive CAGR of 15.2 % during the forecast period (2017 – 2023).Clinical practice management software (PMS) is a software designed for healthcare operations management that offers a wide range of application functions including patient registration, appointment scheduling, medical billing, and others. Burgeoning healthcare sector worldwide, along with the proliferation of care facilities define the growing market landscape of PMS. Over the last decade, the healthcare industry is growing by leaps and bound due to the ever-increasing population prompting a tremendous need for effective treatment and care.
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Extensive demand for this software by hospitals alongside a large number of healthcare IT companies providing client-specific software solutions fosters the market growth across the globe. Simultaneously, availability of user-friendly software solutions that are enhancing the performance of healthcare professionals, improving operations of caregiving facilities contributes to the growth of PMS market.
On the other hand, slightly higher cost of this software acts as a headwind, impeding the market growth. However, the efficiency and efficacy of this software that enhances overall operation management in hospitals and clinical setting, helping them to manage the continuous flow of patients, is expected to support the market growth over the forecast period.
Latest Industry Trends and News
The software, data and technology based Investment Company, Vista Equity Partners has reportedly agreed to invest in a healthcare workforce management solutions providing company “Allocate Software” also called 'Allocate'. This new financial backing is likely to help allocate better implement its growth strategies for the future.
The American multinational conglomerate, General Electric is reportedly planning to sell its healthcare information technology business, which include workforce management software, ambulatory care, and financial management assets to Veritas Capital, a New York-based private-equity firm. The move is likely to activate a $1.05 billion transaction movement between the two companies.
Segments for Global Clinical Practice Management Software Market
MRFR has segmented its analysis into three key dynamics for enhanced understanding.
By Mode of Deliveries: On-Premise and Cloud-Based, among others.
By End-Users: Hospitals, Clinics, and Laboratories, among others.
By Regions: Europe, North America, APAC and the Rest-of-the-World.
Regional Analysis for Global Clinical Practice Management Software Market
Based on geography, the market has been segmented into Asia Pacific (APAC), Europe, Americas and the Middle East & Africa (MEA).
North America is likely to remain a highly attractive market for clinical practice management software over the next couple of years. Rapid adoption of CPMS in the U.S. and Canada continues to encourage market players to increase their investments in the region. The region is also home to some of the leading healthcare IT service providers which favours the growth of the market in North America.
Meanwhile, Europe is expected to retain it second position in the Global CPMS Market over 2023. This is primarily owing to the increasing demands for advanced medical practice management solutions in European countries such as Germany, the U.K and France among others. During the forecast period, growth of the market in APAC is expected to remain pacey as the healthcare sector continues to expand at record scales in the region.
Key Players for Global Clinical Practice Management Software Market
Allscripts (U.S), Cerner Corporation (U.S), Optum Inc. (U.S), Dell (U.S), McKesson Corporation (U.S), Koninklijke Philips N.V. (U.S), Cognizant (U.S), Siemens Ltd.(Germany), Xerox Corporation (U.S), GE Electronic (U.S), and Epic Systems Corporation (U.S). are some of the top companies operating in the Global market for CPMS.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Statistical Report, Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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