Global Practice Management System Market - Forecasts from 2018 to 2023

The global practice management system market is expected to grow to US$9.409 billion by end of the forecast period, increasing from US$5.805 billion in 2017, at a CAGR of 8.38%. The growth of the global practice management system market is mainly driven by increasing number of medical centres and hospitals. The advancements in cloud-based and web-based systems is enabling firms to introduce cost-effective and efficient solutions. The cloud-based system is expected to grow at a significant rate during the forecast period. The global Practice Management System industry will be restrained by strict patient confidentiality laws in several countries and lack of skilled workforce.

By Products Type:
Integrated practice management systems accounted for major share of the market in 2017. These systems provide comprehensive solutions for e-prescription, patient engagement, and other software along with the billing systems. This segment is expected to witness continuous growth during the forecast period due to increase in digitalization across various regions and consolidation in the healthcare industry.

By Deployment Model:
The Cloud-based segment is expected to grow at the fastest rate during the forecast period. The cloud-based solutions are gaining popularity due to low-cost and remote accessibility. Companies like CareCloud are introducing cloud-based solutions to take advantage of the fast-growing demand for these solutions. The web-based segment is gaining popularity and expected to witness a significant growth rate during the forecast period.

By End User:
Physician segment of the global practice management system held significant share during 2017 and is expected to grow at a moderate rate during the forecast period. The hospital and medical centres segment are expected to witness the fastest growth rate during the forecast period due to increase in the number of hospitals and medical centres in various developing countries aided by favourable government policies.

By Geography:
North America is a major market for practice management system due to high patient awareness, increase in demand for medical services by aging population. Various companies in North America and Europe are launching cloud-based and web-based practice management systems that enables companies to handle off-shore operation. Demand for these systems is also expected to surge owing to large population with health insurance.

Competitive Insights:
North America is a major market for PM system due to high patient awareness, increase in demand for medical services by aging population. Various companies in North America and Europe are launching Cloud-based and web-based PM systems that enable companies to handle operation far off-shore. Demand for PM system is also expected to rise in the region owing to the large population with health insurance.

Segmentation:

In this report, the global practice management system market is segmented on basis of products, delivery mode, end-user and various geographic regions:

By Products:

• Integrated Practice Management System
  
• Standalone Practice Management System
  

By Delivery Mode:

• On-premise
  
• Web-based
  
• Cloud-Based
  

By End-User:

• Physicians
  
• Pharmacists
  
• Diagnostic Labs
  
• Others
  

By Geographic Regions:

• North America
  
• U.S.
  
• Canada
  
• Mexico
  
• Others
  
• South America
  
• Brazil
  
• Argentina
  
• Others
  
• Europe
  
• Germany
  
• France
  
• Spain
  
• United Kingdom
  
• Others
  
• Middle East and Africa
  
• UAE
  
• Israel
  
• South Africa
  
• Others
  
• Asia Pacific
  
• China
  
• India
  
• Japan
  
• Australia
  
• Others