Clinical Practice Management Software Market Information, By Mode Of Delivery (On-Premise And Cloud Based), End User (Hospitals, Clinics, Laboratories, Others) - Forecast Till 2027
Market Synopsis:
The advent in technology has facilitated the penetration of digitization in healthcare sector. Clinical practice management software is one such platform that provides the users with multiple beneficial features such as patient registration, appointment scheduling, medical billing, electronic medical records management and others. As per the report that has been recently published by Market Research Future (MRFR), the global clinical practice management software market is anticipated to expand at a noteworthy CAGR of 15.2% during the forecast period of 2017-2023.
The rise in demand for cloud-based solutions for managing the information and patient data in the healthcare sector is acting as one of the major drivers for the expansion of the global clinical practice management software market. The key benefits of clinical practice management software such as integration of electronic health record (HER), optimization of chair-time, and management and transmission of individual’s health records are inducing the need for adoption of clinical practice management software in the healthcare sector.
Other important features that are fueling the demand for clinical practice management software are real-time verification of patients, maintaining the list of insurance claims, scheduling appointment, storing demographics data, managing the billing tasks and others. The increasing adoption of advanced technology due to the surging inclination towards incorporation of IT in healthcare sector and swelling demand for cloud computing in medical sector are impacting positively on the expansion of the global clinical practice management software market. However, the low penetration of advanced technology in the underdeveloped regions, concerns regarding data safety and high installation cost of clinical practice management software are likely to restrain the growth of the global clinical practice management software market during the forecast period.
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Market Segmentation:
The global clinical practice management software market has been segmented on the basis of type, deployment and end user. Based on type, the clinical practice management software market is segmented into standalone and integrated. Based on deployment, the clinical practice management software market is segmented into web-based, on-premise and cloud-based. The increasing inclination towards the adoption of cloud-based solution due to the rise in demand for big data storage is leading to the significant expansion of cloud-based deployment segment in the global clinical practice management software market. Based on end user, the market is segmented into doctors and physicians, laboratories, pharmacists, and others.
Regional Analysis:
The global clinical practice management software market is segmented into four major regions such as Americas, Europe, Asia Pacific, and the Middle East and Africa. The America region accounts for the largest market share in the global clinical practice management software market owing to the rapid adoption of advanced technology by the healthcare sector in this region. The increasing demand for patient management software and cloud-based solutions is leading to the significant growth of clinical practice management software market in the Europe region. The rapid development in healthcare infrastructure and large pool of patients are fueling the expansion of clinical practice management software in the Asia Pacific region. The well-developed healthcare sector in some countries of the Middle East region is driving the clinical practice management software market in this region. However, steady growth of the market is observed in the Africa region due to the lack of awareness and less penetration of advanced technology in this region.
Competitive Analysis:
The advent in technology is resulting in the introduction of advanced management software in the global market. The increasing focus of players towards research and development of new technologies in order to sustain the highly competitive environment of the global clinical practice management software market.
On 19th July 2018, Ciox, a leading healthcare technology company, has announced its partnership with Northwestern Memorial Healthcare, a health system with more than 100 locations throughout Chicago, to ensure efficiency by providing secure and upgraded management software.
On 18th July 2018, ObvioHealth, a global medical technology company, has announced the launch of ClaimIt, a mobile application for site-less clinical studies. This application is proving to be a significant step towards the development of advanced clinical practice management software.
Some of the prominent players of the global clinical practice management software market are Optum Inc. (U.S), Cerner Corporation (U.S), McKesson Corporation (U.S), Dell (U.S), Cognizant (U.S), Koninklijke Philips N.V. (U.S), Xerox Corporation (U.S), Siemens Ltd.(Germany), Epic Systems Corporation (U.S), GE Electronic (U.S) and Allscripts (U.S).
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