Practice Management System Market Overview 2022– Business Status and Forecast 2030

Latest Research Study on “practice management system Market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030”.

According to Report, the practice management system market is expected to grow at a CAGR of 10.6% during forecast period 2021 to 2030 and is projected to reach around US$ 27.6  billion by 2030.

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Report Highlights

Based on product, the market is segmented into integrated and standalone systems. Integrated solutions comprise of a mix of EHR, e-Prescription, patient engagement, and other software along with the billing systems, whereas, standalone systems are primarily focusing on the billing & administrative function (particularly scheduling) of the organization. 

The component segment includes software and services offered by the key players. Software held a larger market share for the year 2015. However, services are expected to witness lucrative growth, owing to rising demand for training and assistance in installing the software and upgrade the system in-line with the escalating growth of IT technology.

On the basis of delivery mode, the industry is segmented into cloud-based, web-based, and on-premise. Cloud-based delivery mode is expected to grow rapidly, thereby providing higher flexibility and cost-efficiency to end users. On-premises is a traditional method used for practice management. However, web-based software captures a significant share of the practice management features in 2015.

Cloud-based practice management solutions are anticipated to witness the fastest growth over the forecast period. Companies such as CareCloud are introducing various new products based on cloud computing.

The key end users of practice management systems in healthcare include physician offices, pharmacies, diagnostics laboratories, and others. Others may be further defined as emergency care centers, community health centers, nursing stations, and hospital & clinic workstations.

The presence of sophisticated medical facilities, favorable government initiatives such as the introduction of EHR incentive programs by the Medicaid and Medicare, and high patient awareness levels coupled with relatively higher expenditures in the North American region are some of the prominent drivers.

Rising number of private medical care service providers such as Sana & Helios and the presence of well-established infrastructure are growth-imparting drivers for this industry

Key Players

Henry Schein MicroMD; Allscripts Healthcare Solutions, Inc.; AdvantEgde Healthcare Solutions; athenahealth, Inc.; MediTouch; GE Healthcare; Practice Fusion; Greenway Medical; McKesson Corporation; Accumedic Computer Systems; and NextGen Healthcare Information System LLC. 

Market Segmentation

  • Product Outlook
    • Integrated
      • EHR/EMR
      • e-Rx
      • Patient engagement
      • Others
    • Standalone
  • Component Outlook
    • Software
    • Services
  • Delivery Mode Outlook
    • On Premise
    • Web Based
    • Cloud Based
  • End-Use Outlook 
    • Physician back office
      • Ambulatory Settings
      • Others
    • Pharmacies
    • Diagnostic Laboratories
    • Other Settings
  • Regional Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • Germany
      • UK
    • Asia Pacific
      • China
      • Japan
    • Latin America
      • Brazil
    • MEA
      • South Africa

The Practice Management System market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Practice Management System market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Practice Management System market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

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