Practice Management System Market Expansion Continues, with Forecast Valuation of $20.66 Billion by 2029

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts

Practice Management System Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the recent years, there has been a swift expansion in the marketplace for practice management systems. The market value is expected to surge from $13.41 billion in 2024 to a notable $14.82 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.6%. This significant growth observed in the historical period is largely due to the switch to electronic health records (EHRs), heightened regulation compliance necessities, increased emphasis on revenue cycle management, the transition towards value-based care, and the inclusion of telehealth services.

Practice Management System Market Size Forecast: What's the Projected Valuation by 2029?
The market size for practice management systems is forecasted to experience considerable growth in the coming years, reaching a value of $20.66 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 8.7%. The predicted growth within this period can be associated with improvements in artificial intelligence (ai) and automation, interoperability and exchange of health information (hie), patient-focused care systems, strategies for managing population health, and the response to global health crises. Notable trends expected during this forecast period encompass a heightened emphasis on cybersecurity, the consumerization of healthcare, innovation in health information technologies, tools for patient engagement, and the integration of telehealth.

View the full report here:
https://www.thebusinessresearchcompany.com/report/practice-management-system-global-market-report

What Are the Drivers Transforming the Practice Management System Market?
The rising trend of e-prescriptions is projected to stimulate the expansion of the practice management system market in the future. Electronic prescriptions, or e-prescriptions, are essentially digital counterparts of conventional paper prescriptions that healthcare providers send directly to pharmacies or the entities that dispense the medication electronically. They typically use software or systems designed for this purpose. The practice management system plays a crucial role in e-prescriptions by automatically filling patient information, safely prescribing controlled medications, and issuing alerts and warnings. For example, the Surescripts National Progress Report, a US-based information technology company, reported in July 2023 that e-prescriptions witnessed a remarkable 10.4% annual growth, reaching 2.34 billion in 2022. Thus, the escalating popularity of e-prescriptions is fuelling the growth of the practice management system market in the future. One of the critical drivers of the Practice Management System Market is the increasing healthcare expenditure, which is likely to boost the growth of the practice management system market in the future. Healthcare encapsulates an organized network of medical services, facilities, professionals, and resources aimed at promoting, maintaining, and restoring physical and mental health of individuals and societies. Practice management systems help manage healthcare expenditures by enhancing efficiency in revenue collection, optimizing resource allocation, and lowering administrative costs. For instance, economic forecasts from the Office for Budget Responsibility (OBR) and the Treasury reveal that the UK's planned health spending is set to rise to £192 billion ($244.43 billion) in 2024/25, up from £182 billion ($231.70 billion) in 2022/23. Therefore, the increasing expenditure on healthcare is fuelling the growth of the practice management system market in the future.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13516&type=smp

What Long-Term Trends Will Define the Future of the Practice Management System Market?
Prominent companies functioning in the practice management system market are pivoting towards the incorporation of emerging technologies such as Karbon AI to boost their market earnings. Karbon AI is an AI instrument powered by GPT, integrated into the premium accounting practice management software to increase accountants' operational efficiency. For instance, in May 2023, a leading collaborative practice management platform provider for accounting firms, Karbon Inc. based in the U.S., introduced Karbon AI, a GPT-based artificial intelligence tool designed to boost the productivity of accounting firms. Karbon AI comprises features like condensing lengthy emails, evaluating the email inbox, and drafting emails.

Which Segments in the Practice Management System Market Offer the Most Profit Potential?
The practice management system market covered in this report is segmented -

1) By Product Type: Standalone, Integrated
2) By Component: Software, Service
3) By Mode of Delivery: On-premise, Cloud-based
4) By End User: Pharmacies, Diagnostic Laboratories, Hospitals, Other End Users

Subsegments:
1) By Standalone: Billing And Invoicing Software, Scheduling And Appointment Management Software, Patient Registration And Record Management Software, Revenue Cycle Management (RCM) Solutions, Reporting And Analytics Software
2) By Integrated: Electronic Health Records (EHR) Integration, Laboratory Management System Integration, Patient Portal And Communication Integration, Accounting And Financial Management Integration, Hospital Information System (HIS) Integration, Telemedicine And Virtual Care Integration

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=13516&type=smp

Which Firms Dominate the Practice Management System Market by Market Share and Revenue in 2025?
Major companies operating in the practice management system market report are McKesson Corporation, General Electric Company, Henry Schein Inc., EPIC Systems Corporation, Allscripts Healthcare Solutions Inc., Athenahealth Inc., CompuGroup Medical SE & Co. KGaA., eClinicalWorks LLC, NextGen Healthcare Information Systems LLC, Medical Information Technology Inc., Practo Technologies Pvt. Ltd., AdvantEdge Healthcare Solutions Inc., CareCloud Corporation, Greenway Health LLC, Modernizing Medicine Inc., Kareo Inc., Advanced-Data Systems Corporation, PracticeSuite Inc., AdvancedMD Inc., Practice Fusion Inc., Luma Health, WRS Health, OfficeAlly Inc., DrChrono Inc., TherapyNotes LLC, SimplePractice LLC, CollaborateMD Inc., Accumedic Computer Systems Inc., Qminder OU

Which Regions Offer the Highest Growth Potential in the Practice Management System Market?
North America was the largest region in the practice management system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the practice management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13516

"This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.