Healthcare ERP Market size is poised to cross USD 12.43 Billion by the end of 2033, growing at a CAGR of 7% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of healthcare ERP was over USD 6.5 Billion.The primary factor for the market growth is attributed to the rising cases of cardiovascular diseases such as heart attack, strokes and others along with the increment in deaths owing to them. As per the World Health Organization, cardiovascular diseases are considered to be the leading cause of deaths globally, taking almost 17.9 million lives in 2019, which is equivalent to 63% of the total deaths that occurred.
The world is projected to see a huge pool of patients in the upcoming years. As a result, the pressure on the healthcare system is rising, which increases the demand for a smooth process of supply chain and logistics, as well as patient care and treatment. Thus, the increase in the number of deaths due to non-communicable diseases is anticipated to increase the adoption rate of healthcare ERP in hospitals, ambulances, and clinics. As per a report published by the World Health Organization in 2021, it is stated that non-communicable diseases kill almost 41 million people each year, an equivalent of 71% of global deaths.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~7% |
|
Base Year Market Size (2022) |
~ USD 6,500 Million |
|
Forecast Year Market Size (2033) |
~ USD 12432.5 Million |
|
Regional Scope |
|
End-user (Hospitals, Clinics, Long & Short Term Facilities)
The global healthcare ERP market is segmented and analyzed for demand and supply by end users into hospitals, clinics, long & short-term facilities, and others. Out of these, the hospitals segment is expected to garner the highest market share by 2033, owing to the rising number of hospitals across the world, owing to high number of patient visits and rising diseases. As per the Organization for Economic Co-operation and Development, the number of hospitals in the United States rose from 5,564 in 2015 to 6,090 in 2019.
Deployment (Cloud-based, On-premise)
On the other hand, in the deployment segment, as of 2022 the on premise segment holds the major market share with 71%. The rising popularity of on premise owing to its easy accessibility and other associated benefits is expected to significantly drive the demand for on premise based healthcare ERP systems across the globe.
Our in-depth analysis of the global market includes the following segments:
|
By Deployment |
|
|
By Application |
|
|
By End-User |
|
The healthcare ERP market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, with a market share of 36% in 2022. The market in the region is primarily driven by the high cost of healthcare made by the population owing to high disposable income and presence of high number of healthcare facilities. The Centers for Medicare & Medicaid Services stated that the national health expenditure increased by 9.7% in 2020 to USD 4.1 trillion, or USD 12,530 per person. This accounted for 19.7% of Gross Domestic Product (GDP). Further, the burden of chronic diseases and the deaths caused by them is another factor driving the expansion of market size. The recent study of 2022 stated that 6 in 10 adults in the U.S. have a chronic disease, and chronic disease is the leading driver of the nation’s USD 4.1 trillion.
Infor acquired Intelligent InSites, Inc., a North Dakota-based provider of healthcare software and services. Intelligent InSites, Inc. offers dynamic, scalable, and user-friendly location platforms to businesses in order to optimize operations, streamline patient journeys, and improve clinical outcomes.
McKesson Corporation has entered into a partnership with HCA Healthcare, Inc. to form a joint venture to advance cancer care by combining McKesson’s US Oncology Research (USOR) and HCA Healthcare’s Sarah Cannon Research Institute (SCRI).
Author Credits: Radhika Gupta, Shivam Bhutani
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?