DUBLIN--(BUSINESS WIRE)--The "Global Healthcare ERP Market By Function, By Deployment, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Healthcare ERP Market size is expected to reach $9,399.8 million by 2027, rising at a market growth of 6.5% CAGR during the forecast period.
Companies Mentioned
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- McKesson Corporation
- Sage Group plc
- Infor, Inc. (Koch Industries)
- Odoo
- QAD, Inc. (Thoma Bravo)
- Aptean (Vista Equity Partners)
- Epicor Software Corporation
Healthcare facilities and firms are highly embracing cloud-based ERP systems because of the various advantages related to them, like minimum ownership cost, low availability of in-house technical expertise, agile and flexible infrastructure capacity, less capital requirement, and constant upgrades. As on-premises systems need massive capital expenditure and a significant cost, small and medium companies are highly embracing cloud-based ERP systems.
The rise in deployment of ERP systems among small and medium businesses is boosting demand for these systems to bring down operational costs and improve functional outcomes. Moreover, pharmacies and laboratories have started to embrace ERP systems for inventory management, accounts, purchase, point-of-sale profile, and selling.
COVID-19 Impact Analysis
The functioning of global healthcare systems has been severely challenged by the outbreak of the COVID-19 pandemic. The pandemic has put immense pressure on the workforce, highlighted limitations of current systems, and hampered the supply & demand cycles. With the drastic and rising transition towards remote healthcare and teleworking, companies are embracing cloud services to effortlessly access data, automate inventory and supply chain management functions, simplify the workflow, and enhance the financial & clinical outcomes of the industry.
During the COVID-19 outbreak, numerous hospitals were willing to go live with their ERP. The adoption of ERP solutions has supported the supply chain of CentraCare's, thereby placing the company in a better position to handle and manage the global pandemic.
Market Growth Factors:
Increasing need for Data Integration
These systems enable companies to integrate data collected from human resources, supply chain cycles, manufacturing & inventories, and finances & accounting, and optimize back-end processes like payroll management, inventory management, and account management. Moreover, pharmacies and laboratories have started to embrace ERP systems for inventory management, accounts, purchase, point-of-sale profile, and selling.
Rising awareness about the advantages of Healthcare ERP
The rise in the installation rate of ERP systems among small and medium businesses is boosting demand for these systems to bring down operational costs and improve functional outcomes. Standardized patient data enables streamlined access from remote locations to enhance patient acquisition and patient management techniques. Healthcare facilities and firms are highly embracing cloud-based ERP systems because of the various advantages related to them, like minimum ownership cost, low availability of in-house technical expertise, agile and flexible infrastructure capacity, less capital requirement, and constant upgrades.
Marketing Restraining Factor:
Absence of well-skilled professionals
The management of Healthcare ERP solutions needs many well-skilled employees and staff. On the other hand, the absence of proficient experts and staff has been a major obstacle barrier to the adoption of healthcare ERP solutions in the market. In addition, the healthcare ERP software and solutions must be regularly updated due to technological advancements. Additionally, data security is expected to become difficult as these systems collect data from various processes, computers, and networks that are highly susceptible to being hacked.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2018, Apr - 2021, Jul) Leading Players
Chapter 4. Global Healthcare ERP Market by Function
Chapter 5. Global Healthcare ERP Market by Deployment
Chapter 6. Global Healthcare ERP Market by Region
Chapter 7. Company Profiles
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