The U.S. Healthcare ERP Market size is estimated to be USD 2.1 billion by 2025, growing at a CAGR of 5.6% over the forecast period, 2019 to 2025, as per a new report by Million Insights. Owing to the growing digitalization in healthcare across the U.S., a huge volume of data is generated. ERP software helps healthcare service providers to better manage the data and draw actionable insights from them. Further, increasing burden of payment processing, insurance along with other information of several newly-enrolled people is estimated to drive the deployment for ERP software in healthcare.
Cloud adoption has further bolstered the ERP deployment. Further, the advent of hybrid systems has encouraged healthcare service providers to adopt ERP solution. Hybrid system supports both on-premise and cloud deployment along with offering agility, data-security and cost-effectiveness. Owing to these benefits offered by the hybrid system, cloud adoption is estimated to gain traction across the U.S.
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Key players in the U.S. healthcare ERP market are focusing on increasing their dominance and gain competitive advantages over their peers. They are emphasizing on strategic partnerships and licensing as several strategic initiatives. Key players such as Nuvolo, SAP SE and Microsoft Corporation are focusing on introducing new ERP solution for healthcare along with adding new features to their existing system. Additionally, healthcare provides are mulling over replacing old legacy systems with innovative technologies.
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Further key findings from the report suggest:
• The PRM system is projected to be the fastest growing over the forecast period as it is becoming tough for healthcare providers to strengthen their relationships with patients.
• The integration of healthcare ERP and AI has led personalized care for the patient.
• Various government initiatives aimed at improving healthcare facilities are predicted to boost the demand for ERP solution in the U.S.
• Leading companies operating in the market are Sage Software Solution Pvt. Ltd, Epicore Softcare, Microsoft Corporation, QAD Inc., Infor and Oracle Corporation among others.
Million Insights has segmented the U.S. healthcare ERP market on the basis of function and deployment:
U.S. Healthcare ERP Function Outlook (Revenue, USD Million, 2014 - 2025)
• Inventory and material management
• Supply chain and logistics management
• Patient relationship management
• Finance and billing
• Others
U.S. Healthcare ERP Deployment Outlook (Revenue, USD Million, 2014 - 2025)
• On-premise
• Cloud
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