Medical Software Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Medical Software Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Medical Software Market Size

Medical Software Market size is anticipated to expand at a notable pace during the forecast period of 2024-2032. The software has become an important part of the core healthcare infrastructure to carry out day-to-day patient management activities. It offers healthcare staff essential functionalities including patient registration, billing, e-prescribing, and appointment scheduling. Additionally, these solutions facilitate the storage and retrieval of imaging data, electronic health records management, and streamline practice management processes, driving efficiency and enhancing patient care.
 

The expanding pool of patients is one of the key factors driving the industry progression. Medical software enables doctors to automatically schedule their patients’ appointments, helps in patient management, and retrieves a patient’s data from their database. This can bring down the workload of contact centers across the healthcare system and save valuable time, thereby bolstering software installation.
 

Medical Software Market Trends

The usage of AI and IT technologies has increased in the healthcare industry, particularly in areas that need higher doctor-patient engagement. This has proven beneficial for medical professionals when it comes to optimizing their time and managing their revenue margins effectively. The streamlined workflows with the help of automated routing and improved clinical alerting systems across hospitals will boost the adoption of medical software products, shaping the industry outlook over the coming years.
 

Medical Software Market Analysis

Based on software type, the medical practice management software segment is set to capture a sizeable market share by 2032. This software is undergoing important upgrades in its interface and features. Medical practice management software is combined with electronic health records, making it easier for medical practitioners to gain access to their patient’s health data and make informed decisions. In addition, novel product launches are also accelerating software deployment. For instance, in July 2022, Siemens Healthineers launched Mobilett Impact, a new mobile x-ray system that can offer complete workflows at the patient’s bedside and be wirelessly integrated into the hospital system. Such initiatives will boost the demand for medical software to safely store imaging data. 
 

Based on delivery mode, medical software market size from the cloud segment is anticipated to register a strong CAGR through 2032, as it allows data availability across a wide range of platforms and enables users to access data from different locations. In June 2022, GoMeyra, a cloud software firm, launched a new telehealth platform called GoVirtual Clinic. The cloud-based software has a single interface that allows clinicians and nursing staff to conduct medical tests over a safe remote platform.
 

In terms of end-user, the hospital segment share is projected to record a steady growth rate up to 2032. The number of patient admissions across hospitals is growing globally due to the rising incidence of chronic diseases. This is pushing the demand for medical software to manage patients, maintain the health records, and streamline the process.  
 

North America medical software market share is expected to grow significantly over 2024-2032, as governments are increasing their expenditure on the healthcare sector by partnering with private firms. Also, federal authorities are undertaking various initiatives to encourage digitization across the medical sector, which will further improve the demand for medical software across the region. For example, in June 2021, the U.S. government announced plans to invest USD 80 million to develop a brand-new public health informatics and technology platform to promote digital health efforts.
 

Medical Software Market Share 

Some of the eminent businesses operating in the medical software industry include

• eClinicalWorks
• First Databank
• Siemens Healthcare
• IBM
• Updox
• Philips
• GE Healthcare
• McKesson Corporation
• Allscripts Healthcare
• Henry Schein
• CureMD Healthcare
• Dell
• NXGN Management
   

These companies are intensifying their efforts in R&D activities to create high-performing and affordable medical software solutions.
 

Medical Software Market News 

• In August 2022, BeiGene a global biotechnology company focusing on developing and commercializing oncology medicines, announced a strategic agreement with Ontada®, a McKesson business. The collaboration aimed to enhance U.S. community oncology care by developing real-world evidence (RWE) data, tools, and insights to increase access to affordable, cutting-edge therapies.
   
• In November 2023, Larsen and Toubro Technology Services (LTTS) revealed a partnership with NVIDIA aimed at crafting software-defined architectures tailored for medical devices, specifically in the field of endoscopy. This collaboration seeks to elevate product capabilities by improving image quality and scalability.
   

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