Global Healthcare ERP Market to Acquire Around USD 12.43 Billion by 2033 and to Grow at a CAGR OF ~7% During 2023-2033; Rising Cardiovascular Diseases and Related Mortality to Elevate Market Growth – Research Nester – GlobeNewswire

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New York, Oct. 13, 2022 (GLOBE NEWSWIRE) — Research Nester has published a detailed market report on the Global Healthcare ERP Market for the forecast period, i.e.,2023-2033 which includes the following factors:
Global Healthcare ERP Market Size:
The global healthcare ERP market is predicted to generate around USD 12.43 billion by 2033 and by growing at a CAGR of ~7% over the forecast period. In addition, the market garnered about USD 6.5 billion in 2022. The increase in cardiovascular diseases and related fatalities are considered to be the main driver of market expansion. According to World Health Organization (WHO), cardiovascular illnesses were the main cause of about 17.9 million fatalities in 2019, or 32% of all deaths, making them the leading cause of death worldwide. Additionally, heart attacks and stroke deaths accounted for 85% of these fatalities. In the approaching years, a sizable patient stream is anticipated around the globe. As a result, the need for efficient supply chain and logistics as well as patient care and treatment are growing., which puts more strain on the healthcare system. An ERP platform enables arranging upcoming tests and treatments and provides online access to patient reports and resources thus, it is projected that as the number of non-communicable disease-related fatalities rises, hospitals, ambulances, and clinics would adopt more healthcare ERP. According to a report issued by WHO in 2021, noncommunicable illnesses account for abpout41 million annual deaths or 71% of all fatalities worldwide.
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Global Healthcare ERP Market: Key Takeaways
Rising Incidence of Unhealthy lifestyle Diseases and Increasing Outpatient Visits to Expansion of Market Growth
Owing to the increase in disorders including diabetes, hypertension, obesity, and high blood pressure, as well as the trend towards an unhealthy lifestyle, the healthcare ERP market is predicted to experience profitable growth throughout the course of the assessment period. The intake of a diet low in fruits and vegetables, cigarette use, physical inactivity, a sedentary lifestyle, and alcohol use are behavioral characteristics lined to an unhealthy lifestyle and have a lower risk of developing chronic diseases. Around 537 million individuals (20-79 years old) worldwide have diabetes in 2021. By 2030, it is predicted to be 643 million diabetic patients worldwide and by 2045, it is estimated to be 783 million. In addition, around 1.3 billion persons aged from 30 to 79 are projected to have hypertension in 2022 around the world. Increasing lifestyle disorders drive market growth.
Furthermore, the outpatient department (OD), which serves as a glimpse into the hospital’s exterior operations is under mounting pressure as a result of rising patient volumes, the rising complexity of medical conditions, and other factors. For instance, nearly, 780 million outpatient visits occurred in hospitals across the country in 2020. The majority of outpatient visits during that year with a projected 750 million visits happened in general medical and surgical facilities. The elevating number of patient visits further propels the market growth.
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Global Healthcare ERP Market: Regional Synopsis
The global healthcare ERP market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Climbing Health Expenditure and Rising Incidence of Chronic Diseases to Fuel North American market
In 2022, the North American market held the biggest market share of 36%. The high cost of healthcare in the region is the major factor driving the market. In 2020, the national health expenditure climbed by 9.7% to USD 4.1 trillion or USD 12,530 per person, according to the Centers for Medicare & Medicaid Services (CMS). This represented 19.7% of the national gross domestic (GDP). The expansion of life care solution services is also being fuelled by the burden of chronic diseases and the fatalities they cause. According to a recent study from 2022, chronic diseases affect 6 out of 10 persons in the United States and account for USD 4.1 trillion of the country’s GDP.
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Increasing Government Spending and Growing Elderly Population to Fuel the Asia Pacific Market
On the other hand, the Asia Pacific market has witnessed substantial growth during the forecast period. The expansion of the market is anticipated to be fuelled by rising government investments in the creation of a digitalized and technologically sophisticated healthcare infrastructure in the region. For instance, healthcare expenditure had significant growth from 2021 to 2022 in China. In June 2022, China’s government healthcare expenditure was USD 33.54 billion up from USD 16.71 billion in July 2021. Additionally, the incidence of numerous chronic diseases is increasing and the number of elderly people is expanding rapidly. Therefore, the demand for healthcare ERP is predicted to rise significantly in the region in order to provide patients with quick and improved medical services. For instance, a sizable fraction of the Chinese population had chronic illnesses in 2020. Overweight and obesity affected more than 510 million people and high blood pressure affected more than 415 million people. In China, chronic diseases were responsible for 88.5 percent of fatalities in 2019.
The study further incorporates Y-O-Y growth, demand & supply, and future opportunities in:
Global Healthcare ERP Market, Segmentation by End User
By 2033, the hospital segment is projected to hold the largest market share on account of the global increase in hospitals and rising healthcare spending worldwide. For instance, based on the American Hospital Association (AHA) statistics, there were 6,090 hospitals in the U.S. in 2019 compared to 5,564 hospitals 4 years back. Moreover, according to the OCED predictions, healthcare spending was to rise by 5% on average in 2020, with government and mandated programs expected to spend more than usual (+81%). As of July 2022, initial projections for a group of 17 OCED countries show that health spending increased significantly by almost 6% in 2021. The segment is expected to grow as a result of an emerging number of hospitals and the adoption of cutting-edge technologies owing to higher healthcare spending.
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Global Healthcare ERP Market, Segmentation by Deployment
With 71% of the market, the on-premises segment is anticipated to hold a noteworthy share of the market as of 2022.  Owing to the rising popularity of non-premise on account of its easy accessibility and other associated features. Furthermore, software and services make up the majority of the big data healthcare sector. 31.5% of healthcare services utilize big data analytics (BDA) solutions worldwide in 2020. BDA has applications in financial analysis, clinical data analysis, operational analysis, and population health analysis. Over 75% of BDA software revenues in 2019 were from on-premises solutions.
Global Healthcare ERP Market, Segmentation by Application
Few of the well-known market leaders in the global healthcare ERP market profiled by Research Nester are McKesson Corporation, Infor, Odoo SA, SAP SE, Oracle, Epicor Software Corporation, QAD Inc., Aptean Group, The Sage Group plc, Microsoft, and others.
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