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U.S. Healthcare ERP Market Revenue to Attain USD 3.19 Bn by 2033
20 Dec 2024
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U.S. Healthcare ERP Market Revenue and Trends 2023 to 2033
The U.S. healthcare ERP market revenue was valued at USD 1.90 billion in 2024 and is expected to attain around USD 3.19 billion by 2033, growing at a CAGR of 5.84% during the forecast period. The rise in patient volume, increasing adoption of advanced technologies, and the need for efficient supply chain management solutions drive the market growth.
Market Overview
A healthcare enterprise resource planning (ERP) system is a comprehensive solution that integrates various functions of healthcare organization operations, such as patient management, risk management, financial management, and human resources, into a single platform. An ERP system is used to streamline and optimize operational efficiency and manage resources across several departments. This system further reduces operational costs and enhances patient care
The U.S. healthcare ERP market is experiencing significant growth due to the rising need for integrated solutions to improve operational efficiency and efficiently manage healthcare resources. The increasing adoption of electronic health records and the rising government initiatives encouraging the use of healthcare IT create several opportunities in the market. In addition, there is a high demand for cloud-based ERP solutions due to their scalability, flexibility, and cost-effectiveness, making them appealing to healthcare organizations.
For instance, in June 2024, Oracle NetSuite announced a new solution to help healthcare organizations improve business efficiency and support HIPAA compliance. With the NetSuite Suite Success Healthcare edition, healthcare organizations can quickly take advantage of the latest advancements in cloud computing and artificial intelligence to help streamline business processes, expand insights into decision-making for more optimized resource allocations, and enhance patient care.
With the increasing prevalence of chronic diseases, such as diabetes and cardiovascular diseases, patient volume is rising in hospitals and clinics, requiring automation solutions to automate processes, reduce errors, and optimize resource allocation. In addition, rising medical tourism and increasing healthcare costs contribute to the market's expansion. There is an increased adoption of ERP systems in pharmacies and laboratories for inventory management, further propelling the market’s growth.
Report Highlights of the U.S. Healthcare ERP Market
By function, the finance & billing segment dominated the market with the largest share in 2023. ERP systems help healthcare organizations with claim processing and enable them to generate comprehensive financial reports. Many healthcare facilities utilize these systems to manage the risk associated with multicurrency. They also help in tax management, profit tracking, fixed asset management, and ledger management, as well as eliminate the risk of financial data loss. They also help healthcare organizations in budget planning.
By deployment, the on-premise segment accounted for the dominant share of the market in 2023, as it offers several advantages, such as easy customization, enhanced security and privacy, minimal maintenance, low reliance on vendors, and ease of access from remote locations. On-premises ERP solutions are installed and run on a company's own infrastructure and are hosted locally, thereby enhancing security.
By end-user, the hospitals segment dominated the market with the largest share in 2023. This is mainly due to the increased patient volume in hospitals. As people mostly prefer hospitals as primary care centers, the volume of patients increases, boosting the need for ERP solutions to manage patient records. Hospital healthcare ERP systems include EHR integration features that facilitate the exchange of patient data between healthcare providers, guarantee easy access to patient records, and improve patient care. These systems also help in scheduling, discharge, admittance, and patient information management.
Major Trends in the U.S. Healthcare ERP Market
Rising Awareness About the Importance of ERP: The demand for ERP systems is rising among small and medium-sized healthcare organizations, as they offer reduced operational costs and enhanced operational efficiency. They also offer easy access to healthcare from a long distance and improve patient outcomes. Healthcare organizations are increasingly seeking automation solutions to streamline operations.
High Demand for Cloud-Based Solutions: With the rapid shift toward cloud-based solutions, the demand for cloud-based ERP systems is increasing within healthcare institutions. Cloud-based solutions offer several advantages, like enhanced security and scalability. They also allow access from remote locations, thereby improving supply chain and inventory management.
Technological Advancements: Integrating advanced technologies, such as AI and ML, in ERP solutions provides several advantages to healthcare providers, such as enhanced workflow efficiency and reduced administrative burden. Electronic health record management systems provide personalized patient care at a low cost, and integrating ERP solutions with AI capabilities creates new opportunities for businesses and expands market growth. Also, integrating natural language processing programs and machine learning algorithms in healthcare ERP systems helps predict patient outcomes. For instance, in October 2024, Oracle Health announced a plan to release next-gen electronic health record platform in 2025, featuring the company's latest cloud and AI capabilities. This platform will incorporate Oracle clinical AI agent voice-activated navigation and search capabilities as well as Oracle health data intelligence.
U.S. Healthcare ERP Market Coverage
Report Attribute
Key Statistics
Market Revenue in 2024
USD 1.90 Billion
Market Revenue by 2033
USD 3.19 Billion
CAGR
5.84% from 2024 to 2033
Quantitative Units
Revenue in USD million/billion, Volume in units
Base Year
2023
Market News
In July 2024, Workday, an American on‑demand (cloud-based) financial management, human capital management, and student information system software vendor, and Groundswell launched the Workday Government cloud for a U.S. Federal agency, enhancing human resources modernization by replacing outdated systems. It empowers staff to manage their own data and supports decentralized decision-making, improving organizational efficiency.
In March 2024, Nominal launched generative AI to bridge the gap between outdated, costly ERP systems and the financial management needs of modern mid-market, multi-entity businesses. It aims to transform business logic into automated accounting workflows.
U.S. Healthcare ERP Market Key Players
Microsoft Corporation
Oracle Corporation
SAP SE
McKesson Corporation
Infor, Inc. (Koch IndU.S.tries)
Epicor Software Corporation
Veradigm LLC
Azalea Health
Premier, Inc
Rootstock Software
Market Segmentation
By Function
Supply Chain & Logistics
Finance & Billing
Inventory Management
Patient Relationship Management
Others
By Deployment
On-Premise
Cloud
By End User
Hospitals
Clinics
Nursing Homes
Others
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