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Practice Management Systems Market Worth $6.74 Billion by 2027 - Increasing Emphasis on the Automation of Administrative Tasks in Healthcare Offers a Lucrative Growth Opportunity

Dublin, March 27, 2020 (GLOBE NEWSWIRE) -- The "Practice Management Systems Market to 2027 - Global Analysis and Forecasts By Product; Delivery Mode; Component; and Geography" report has been added to ResearchAndMarkets.com's offering.



The global practice management systems market is expected to reach US$ 6,740.84 Mn in 2027 from US$ 3,143.76 Mn in 2019. The market is estimated to grow with a CAGR of 10.2% from 2020-2027.

The growth of the practice management systems market is primarily attributed to the factors such as increasing prevalence of chronic diseases, growing burden of patients, and focus on proving quality care in affordable costs. However, factors such as concerns of data privacy and lack of healthcare infrastructure in emerging nations are likely to pose a negative impact on the market growth.

On the other hand, growth opportunities in emerging regions are likely to have a positive impact on the growth of the global practice management systems market during the forecast period. With a rise in cases of chronic illnesses such as diabetes, cancer, and inflammatory diseases, the healthcare domain is exponentially increasing patient population across the globe.

Moreover, increasing emphasis on automation of administrative tasks in healthcare is projected to offer lucrative opportunity for the growth of the global practice management systems market. Asia Pacific is anticipated to offer significant growth opportunity during the forecast period, due to an increase in the healthcare-IT spending in leading economies such as Japan, China and India.

Chronic diseases such as stroke, heart diseases, diabetes, and obesity are the leading causes of death in the world, and they account for most of the nation's health care costs. According to the report of the Centers for Disease Control and Prevention (CDC), >9% of the population was suffering from diabetes, in 2018, which is a leading cause of kidney failure, lower-limb amputations in the US. Moreover, the data also suggested that ~1.5 million Americans are identified with diabetes in the US, every year.

The similar trend of increasing prevalence of diabetes is widespread in other regions, including Europe, APAC, and the MEA. For instance, in 2017, according to IDF Diabetes Atlas published by the International Diabetes Federation (IDF), Southeast Asia is a home to ~19% of the total diabetes population worldwide. As per the IDF, in 2017, North America reported ~46 million of people with diabetes, which is expected to reach 62 million by 2045.

In 2019, standalone systems held a largest market share of 67.75% of the practice management systems market, by product. However, integrated solutions are expected to register higher CAGR by 2027.

Global practice management systems market, based on the product, is segmented into Standalone Systems and Integrated Systems. In 2019, the Standalone Systems held the largest share of the market, by product. Also, integrated systems segment is expected to grow at the fastest rate during the coming years owing to increasing adoption of integrated systems across the globe.

Global practice management systems market, based on the delivery mode, is segmented into web-based, cloud-based, and on-premise delivery mode. In 2019, the web-based segment held the largest share of the market, by delivery mode. Cloud-based segment is also expected to grow at the fastest rate during the coming years owing to increasing adoption of the cloud technology.

Global practice management systems market, based on the component, is segmented into software and services. In 2019, the software segment held the largest share of the market, by component. In addition, the segment is also expected to grow at the fastest rate during the coming years.

Key Topics Covered

1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Practice Management System Market - By Product
1.3.2 Global Practice Management System Market - By Delivery Mode
1.3.3 Global Practice Management System Market - By Component
1.3.4 Global Practice Management System Market - By Geography

2. Global Practice Management System Market - Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Practice Management System- Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe: PEST Analysis
4.2.3 APAC: PEST Analysis
4.2.4 Middle East & Africa - PEST Analysis
4.2.5 South & Central America - PEST Analysis
4.3 Expert Opinion
4.4 Number of Potential General Physician Facilities for Practice Management System, By Country

5. Practice Management System Market - Key Dynamics
5.1 Key Drivers
5.1.1 Rising Pressure on Healthcare Institutions to Provide Quality Health at Reduced Costs
5.1.2 Rising Prevalence of Chronic Diseases
5.2 Key Market Restraints
5.2.1 Concerns Regarding Data Privacy
5.3 Key Market Opportunities
5.3.1 Growing Use of Smartphones
5.4 Future Trends
5.4.1 Remote Monitoring Would Soon Eliminate Patients' Routine Visits to Hospitals
5.5 Impact Analysis

6. Practice Management System Market - Global Analysis
6.1 Global Practice Management System Market Revenue Forecast And Analysis
6.2 Global Practice Management System Market, By Geography - Forecast And Analysis
6.3 Positioning of Key Players
6.3.1 Allscripts Healthcare Solutions, Inc.
6.3.2 Cerner Corporation

7. Global Practice Management Systems Market Analysis - by Product
7.1 Overview
7.2 Global Practice Management Systems Market, by Product 2019 and 2027 (%)
7.3 Integrated Practice Management Systems Market
7.4 Standalone Practice Management Systems Market

8. Practice Management Systems Market Analysis - by Component
8.1 Overview
8.2 Global Practice Management Systems Market, by Component, 2019 and 2027 (%)
8.3 Software Market
8.4 Services Market

9. Practice Management Systems Market Analysis - by Delivery Mode
9.1 Overview
9.2 Practice Management Systems Market, by Delivery Mode 2019 and 2027 (%)
9.3 Web-Based Practice Management Systems Market
9.4 Cloud-Based Practice Management Systems Market
9.5 On-Premise Practice Management Systems Market

10. Practice Management System Market - Geographic Analysis
10.1 North America Practice Management System Market, Revenue and Forecast to 2027
10.2 Europe Practice Management System Market, Revenue and Forecast to 2027
10.1 Asia Pacific Practice Management Systems Market Revenue and Forecasts to 2027
10.2 Middle East & Africa Practice Management System Market, Revenue and Forecast to 2027
10.3 South and Central America Practice Management Systems Market, Revenue and Forecast to 2027 (US$ Mn)

11. Practice Management System Market - Industry Landscape
11.1 Overview
11.2 Growth Strategies In The Practice Management System Market, 2015-2019
11.3 Organic Growth Strategies
11.4 Inorganic Growth Strategies

12. Company Profiles
12.1 Allscripts Healthcare, LLC
12.2 Athenahealth, Inc.
12.3 Cerner Corporation
12.4 Epic Systems Corporation
12.5 eClinicalWorks
12.6 General Electric Company
12.7 Henry Schein, Inc.
12.8 McKesson Corporation
12.9 Medical Information Technology, Inc.
12.10 Nextgen Healthcare Information System, LLC

For more information about this report visit https://www.researchandmarkets.com/r/2gs7us

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