Trends
Pediatric software market to reach USD 37.99 billion by 2027
The “Pediatric software global market report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global pediatric software market is expected to grow from $27.27 billion in 2022 to $29.3 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The pediatric software market is expected to reach $37.99 billion in 2027 at a CAGR of 6.7%.
Increasing adoption of electronic medical record is expected to propel the pediatric software market going forward. An electronic health recorder is a computerized collection of various medical records that are created during clinical encounters or other occurrences. It is an enhanced electronic medical record (EMR), which is a digital record of the patient’s medical history.
A pediatric EHR aids in reducing paperwork time and improving care quality, and pediatric software provides the tools, so increasing the adoption of EHR will propel the market’s growth. For instance, in 2021, according to the Office of the National Coordinator for Health Information Technology, a US-based resource for the entire health system, in the US, 9 in 10 physicians adopted an electronic health record, and nearly 4 in 5 had adopted a certified EHR in 2021. Therefore, increasing adoption of EHR is driving the demand for pediatric software market.
Product innovation is a key trend gaining popularity in the pediatric software market. Major companies operating in the pediatric software market are focused on developing new products to strengthen their position. For instance, in December 2020, WRS Health, a US-based provider of fully integrated EHR and practice management software solutions for healthcare, introduced Pediatrics-Cloud, a software and services provider focused exclusively on pediatrics. It is uniquely designed with pre-loaded notes and templates to make patient encounters efficient, timely, and focused. The software provides automated appointment and health maintenance reminders, telehealth functionality that also includes a virtual waiting room, and medication management, including a dosage calculator with built-in alerts.
In June 2022, Oracle Corporation, a US-based computer technology corporation, acquired Cerner Corporation for $28.3 billion. Through this acquisition, combined resources are expected to expand and strengthen the capacity to transform healthcare delivery by providing medical professionals with better information. Oracle is expected to expand its offerings in digital tools that enable access to information and improve patient privacy and outcomes. Cerner Corporation is a US-based provider of information technology services, devices, and integrated electronic health record for children.
North America was the largest region in the pediatric software market in 2022. The regions covered in pediatric software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the pediatric software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Description:
Where is the largest and fastest growing market for pediatric software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pediatric software market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of Covid 19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets covered:
- By Type: Type I; Type II
- By modality: Magnetic Resonance Imaging MRI; Computed tomography CT; Ultrasound; X-ray
- By application: PC Terminal; Mobile Terminal; Orthopedics; Gastroenterology; Cardiology; Oncology; Neurology; Other applications
- By end users: Hospitals; Diagnostic centres; Other end users
Research and Markets
