Healthcare ERP Market Size, Share & Trends Analysis Report By Function (Inventory & Material Management, Supply Chain & Logistics Management), By Deployment (On-premises, Cloud), By End-use, And Segment Forecasts, 2024 - 2030

Healthcare ERP Market Size, Share & Trends Analysis Report By Function (Inventory & Material Management, Supply Chain & Logistics Management), By Deployment (On-premises, Cloud), By End-use, And Segment Forecasts, 2024 - 2030

Healthcare ERP Market Growth & Trends

The global healthcare ERP market size is expected to reach USD 11.96 billion by 2030, registering a CAGR of 7.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Healthcare organizations are under pressure to adopt technological solutions to curb rising expenditures, ineffective hospital service management, a workforce shortage, and a growing patient population. The rising awareness of the benefits associated with adopting ERP systems, such as high-quality care delivery solutions, eliminating back-end manual activities, and minimizing operational expenses, contributes to the market's growth.

The adoption of cloud-based ERP systems is growing among healthcare providers due to their inherent advantages. These systems are scalable, allowing organizations to adjust resources as needed without significant investments in hardware. In addition, cloud-based ERP systems provide remote access to data and applications, which is essential for supporting telehealth services and distributed healthcare operations. This access ensures seamless collaboration and continuity of care, even in remote settings.

ERP systems play a crucial role in achieving operational efficiency goals by streamlining processes and reducing redundancies. By integrating various functions such as patient management, inventory control, and financial operations into a single system, ERPs help in eliminating duplicate efforts and ensuring data consistency. They also optimize resource utilization by providing real-time data and analytics, enabling better decision-making and more efficient allocation of staff and materials. This comprehensive approach leads to cost savings and enhanced productivity, ultimately improving patient care and organizational performance.

Market players are focusing on the development of new products and introducing new technologies to reduce the implementation time of ERP systems for their customers. For instance, in January 2024, Atrium Health reduced ERP implementation time by 90% through their newly developed Premier’s technology. Premier’s item master cleanse, and PINC AI Content Hub streamlined the consolidation of supply chain data, ensuring clean and standardized information. This efficient data management minimized delays, enhanced patient safety, and improved overall operational efficiency, allowing Atrium Health to successfully transition to a new ERP system and optimize resource utilization by providing real-time data and analytics, enabling better decision-making and more efficient allocation of staff and materials. This comprehensive approach leads to cost savings and enhanced productivity, ultimately improving patient care and organizational performance.

Healthcare ERP Market Report Highlights

• Based on function segment, finance, and billing dominated the market in 2023, owing to the need to lower barriers between front-end revenue cycle management processes and back-end activities.
• Based on deployment, the on-premises deployment segment dominated the market in 2023 owing to ease-of-access and minimum maintenance cost of these ERP solutions.
• Based on end use, the hospital segment dominated the market in 2023. The growth is attributed to the growing need for efficient patient and doctor management tools that reduce paperwork, improve efficacy, and enhance patient care while controlling budget expenses.
• North America dominated in 2023 due to the rise in adoption levels of these advanced technological systems and the significant presence of market players. Moreover, the Asia Pacific region is anticipated to witness the fastest CAGR of 8.6% from 2024 to 2030.

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