Dental Practice Management Software Market Worth $3.8 Billion By 2027

The global dental practice management software market size is expected to reach USD 3.8 billion by 2027, expanding at a CAGR of 10.2% during the forecast period, based on a new report by Grand View Research, Inc. Market growth can be attributed to the increasing geriatric population along with an expected increase in oral healthcare expenditure and in number of dental practices.

According to the U.S. Census Bureau’s International Data Base, the population of individuals who are 45 years and older is expected to grow by about 12.0% between 2015 and 2025, while the total U.S. population will increase by about 8.0% during the same period. Furthermore, the expected increase in oral health insurance coverage and favorable government initiatives could drive the market during the forecast period.

The usage of various modules increases the productivity and efficiency of dentists. Furthermore, technological advancements in the field and growing investments by companies in emerging economies are expected to propel market growth. Integrated software solutions help in streamlining the dental practices.

Mergers and acquisitions for the development and commercialization of products are likely to drive market growth in the coming years. In 2018, Henry Schein, Inc., formed Henry Schein One, LLC in a joint venture with Internet Brands, a software company. The new company was launched with an intention to provide integrated dental technology to medical practitioners in order to improve patient communication and practice management.

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https://www.grandviewresearch.com/industry-analysis/dental-practice-management-software-market

Further key findings from the report suggest:

By deployment mode, the web-based segment dominated the dental practice management software market in 2019 owing to the reasonable pricing structure. The cloud-based segment may surpass the web-based and on-premise segments over the coming years owing to the additional advantages
The cloud-based dental practice management software segment is projected to grow at the fastest rate during the forecast period. This is due to its flexibility, disaster recovery system, automatic software updates, increased collaboration, ability to work on any internet connected device, security, environment-friendly features, and ability to establish competition
By end use, the dental clinics segment accounted for the largest market share in 2019 and is expected to exhibit the fastest CAGR over the forecast period
In 2019, North America dominated the global market due to favorable government initiatives, local presence of key players, growing geriatric population, and high oral healthcare expenditure
Asia Pacific is expected to grow at the fastest rate over the forecast period owing to increasing investments by industry players and rising awareness about oral healthcare
Some of the market players operating in the industry are Henry Schein, Inc.; Patterson Companies, Inc.; Carestream Dental; Curve Dental, Inc., DentiMax, LLC; Practice Web, Inc.; NextGenHealthcare Information Systems, LLC; and ACE Dental Software.

Medication Management System Market Worth $5.97 Billion By 2025

The global medication management system market size is expected to reach USD 5.97 billion by 2025 at a CAGR of 20.5%, according to a new report by Grand View Research, Inc. Rise in the number of prescriptions globally, increase in investments by hospitals for workflow management, advanced technologies, and rise in government reforms and policies boosting the integration of IT in healthcare are estimated to drive market growth.

Rise in challenges faced by healthcare professionals for efficient management of clinical operations, streamlined workflow, and reduced healthcare costs drive the demand for automated solutions in healthcare facilities. Rapid growth in prescriptions has increased the burden on care providers to efficiently manage prescriptions of patients and minimize medication errors. Thus, increase in the number of prescriptions is one crucial factor driving the market growth. In addition, a shortage of pharmacists and healthcare professionals will further boost the adoption of IT solutions in healthcare facilities.

There is a rise in investments by hospitals to streamline clinical processes and they have been purchasing new software to manage workflow, which is expected to boost the market growth. For instance, in March 2017, Saudi German Hospital-Dubai automated its medication management workflow by integrating Omnicell’s solutions.

Reforms, policies, and initiatives are being taken by governments to increase the adoption of healthcare IT across the globe, which is expected to drive market growth. For instance, the German National Medication Plan is an initiative directed toward enhancing medication management software in hospitals and pharmacies in Germany.

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https://www.grandviewresearch.com/industry-analysis/medication-management-system-market

Further key findings from the report suggest:

Inventory management solutions held a majority share in the market in 2016 due to the rising need to reduce issues such as stockout and overstock
Hospitals held the largest share by end use owing to the rise in investments by hospitals to upgrade their IT infrastructure
Cloud-based solutions dominated the market by mode of delivery owing to greater data security
North America dominated the global market owing to high adoption of healthcare IT and technological advancements
Key players in this market are Allscripts, Becton, Dickinson and Company (CareFusion), GE Healthcare, McKesson Corporation, Cerner Corporation, and Omnicell, Inc.

Electronic Health Records Market Size Worth $33.41 Billion By 2025

The global electronic health records market size is expected to reach USD 33.41 billion by 2025, according to a new report by Grand View Research, Inc. The government initiatives undertaken in support of EHR adoption are most likely to accentuate the market growth.

The federal government introduced Health Information Technology for Economic and Clinical Health (HITECH) Act in 2009 for promoting usage of EHR amongst healthcare providers. The program included provision of training and assistance for health information technology (IT) workers in order to set up EHRs in the hospitals.

The National Health Services (NHS), UK is planning to convert the documentation process into digitized form completely by the year 2018. In the U.S., federal government has announced financial incentives for physicians planning to adopt EHR systems. Any average physician with at least 30% of his/her patients covered with Medicare is eligible for incentives worth USD 44,000.

Many region-specific initiatives are promoting eHealth services. For instance, EUR-Lex gave eHealth action plan for 2012 – 2020, which states the strategies for deployment of eHealth services amongst European nations.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/electronic-health-records-ehr-market

Further key findings from the report suggest:

Web-based EHR was observed to be the largest product segment owing to the fact that it can be deployed without in-house installation of complex hardware infrastructure. Moreover, web-based EHR is expected to be the fastest growing product segment in the coming years
Acute care EHR held the majority of EHR type market share at around 48% in the year 2016; whereas post-acute care EHR is likely to showcase fastest growth rate over the forecast period
The hospital use EHR segment accounted for the largest end-use share due to the excessive adoption rate among hospitals, whereas ambulatory care EHR is expected to be the fastest growing segment
As a part of the Health HITECH Act of 2009, the federal government allocated USD 27 billion for an incentive program, especially arranged for promoting adoption of EHR in hospitals and ambulatory care centers
The electronic health records market in Asia Pacific is projected to display substantial growth over the forecast period owing to various developments across major economies along with increased expenditure on healthcare IT. This regional market is expected to grow at a CAGR of 7% from 2017 to 2025
According to Healthcare Information and Management Systems Society (HIMSS) analysis adoption model for EHR, more than 2.5% of total hospitals in the Asia Pacific region crossed stage 6 of EHR implementation by the end of 2016, fueling the regional market growth
Some of the established key players in this industry include Cerner; Allscripts; McKesson Corporation; MEDITECH; Epic Systems Corporation; and NextGen Healthcare. Some of the emerging players are eClinicalWorks; Healthcare Management System; Healthland; and CureMD Healthcare; etc.

Cardiovascular Information System Market Worth $1.2 Billion By 2024

The global cardiovascular information system market is expected to reach USD 1.2 billion by 2024, according to a new report by Grand View Research Inc. The global cardiovascular devices industry is growing swiftly owing to the increasing prevalence of heart diseases and other cardiovascular problems.

In accordance with the growing patient population there is an exponential surge in the patient history documents and patient data records. The resultant, rising burden of patient data is pushing forward the demand for effective management tools; thus, offering increased accessibility of patient information to surgeons and the healthcare staff and hence enhancing the operational efficiency of the practices. In addition, factors, such as technological advancements and the gradually growing awareness regarding the availability of these improved systems are expected to fuel the growth of the cardiovascular devices market.

However, factors, such as high system costs and the lack of skilled operators are impeding the overall growth. In addition, the presence of alternative data management tools is challenging the adoption of the information systems specific to cardiovascular data management. Some of the key players in the market are implementing strategies to expand market share. For instance, companies, such as Philips Healthcare and GE Healthcare offer CVIS systems along with their cardiac imaging products.

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http://www.grandviewresearch.com/industry-analysis/cardiovascular-information-system-market

Further key findings from the study suggest:

The CVIS segment captured the largest market share of the global market in 2015. Integration of these systems with imaging devices is responsible for the highest adoption rate of this segment.
Owing to the high cost of these systems, the CVIS segment is expected to maintain its dominance during the forecast period
The cloud-based segment is anticipated to exhibit the fastest growth rate during the forecast period. The associated advantages, such as the affordable cost, remote accessibility of data, and the user friendly interface, are expected to fuel the adoption of the cloud-based mode of operation.
North America captured the largest market share of around 36% in 2015. The dominance of the segment is expected to continue with a CAGR of 5.8% from 2016 to 2024.
The factors contributing to the growth of the North America market include the increasing prevalence of heart diseases and the technological advancements in the region. Moreover, factors, such as the availability of highly advanced healthcare facilities and the higher adoption rate of the data management tools are augmenting the market growth in North America.
Asia Pacific is anticipated to grow at the fastest rate during the forecast period. Countries, such as India and China are expected to be the fastest growing markets in the region owing to the large pool of cardiovascular patients and the rising healthcare expenditure.
The booming medical tourism in Asia Pacific due to the availability of advanced healthcare facilities and services at a lower cost in comparison to the other developed countries serves as the pivotal factor in attracting cardiac patients worldwide to this region.
Some major players in this market include Philips Healthcare, GE Healthcare, McKesson Corporation, Siemens Healthcare GmbH, Merge Healthcare, Inc., Agfa Healthcare N.V., Cerner Corporation, Fujifilm Medical Systems, Inc., Lumedx Corporation, and Digisonics, Inc.