Healthcare ERP Market Trends

Growth Drivers

• Growing Prevalence of Unhealthy Lifestyle Diseases - Several diseases such as diabetes, hypertension, obesity and high blood pressure are occurring among the population owing to the shift towards an unhealthy lifestyle, which is further expected to bring lucrative opportunities in the healthcare ERP market in the assessment period. Diabetes prevalence was estimated to be nearly 10%, or 460 million people, in 2019 and is expected to rise steadily in the future, reaching 11%, or 700 million people, by 2030.
• Prevalence of Heart Diseases – There is an alarming rise in the number of heart disease patients across the world. This has brought the need for the deployment of healthcare ERP systems across the healthcare sector. The majority of cardiovascular diseases are accounted for by heart attacks and strokes. Around 85% of the cardiovascular disease deaths were due to heart attacks and strokes in 2019.
• Increase in Patient Visits — According to recent reports, approximately 770 million outpatient visits were reported in hospitals in the United States in 2020.
• Boom in the Healthcare Sector - The revenue generated by the global healthcare sector in 2022 stood at USD 60 billion.
• Escalation in Health Expenditure – The World Bank released the health expenditure of the world in the year 2019, which accounted for 9.83% of the total GDP. This is a rise from 2017, when global health expenditure was 9.77% of total GDP.

Challenges

• Lack Awareness About Healthcare ERP – In many of the developing areas, the latest technology has not peeked in yet, resulting a less awareness about healthcare ERP. This has also prompted the low adoption rate in several nations which is projected to hamper the market growth.
• Low Adoption Rate in Developing Countries
• Stringent Rules by Government