New York City, New York Jan 21, 2021 (Issuewire.com) - According to TechSci Research report, “Europe Hospital Management Software Market By Product (Integrated v/s Standalone), By Deployment Mode (On-Premise v/s Cloud), By Type of Software (Patient Registration Software, Inventory Management Software, Scheduling Software, OT Management Software, Laboratory Management Software, HR Management Software, Billing, Laboratory Equipment Management, Others), By Application (Hospitals, Clinics, Others), By Region, Forecast & Opportunities, 2026”, the Europe hospital management software market is expected to grow at a formidable CAGR during the forecast period on account of the increasing prevalence of diseases in the region especially chronic diseases such as cancer, diabetes, renal diseases, among others. This in turn leads to an increased number of patients and related data. Therefore, the growing requirement to handle and effectively manage such large volumes of data is driving the growth of the market. Additionally, the replacement of manual records by electronic records is further expected to propel the market over the next five years. Furthermore, increasing expenditure by the key vendors operating in the industry is anticipated to positively impact the growth of the market through 2026. Surging government support in the form of schemes, grants, and funds is further spurring the growth of the market. Besides, increasing demand from various hospitals & clinics for installation of such software in order to handle their businesses in a more consistent, efficient, and easy way is expected to boost the market growth. However, high infrastructural and maintenance costs associated with hospital management software might hamper the growth of the market during the forecast period. Also, issues of data privacy and cyber threat might restrict the growth of the market. Additionally, lack of software knowledge in developing countries might negatively impact the growth of the market. Furthermore, the lack of onsite IT support services is expected to impede the growth of the market over the next few years.
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The European hospital management software market is segmented based on the product, deployment mode, type of software, application, company, and region. Based on deployment model, the market can be bifurcated into on-premises and cloud. The cloud segment is expected to dominate the market during the forecast period. This dominance can be ascribed to the remote accessibility of data and reduced operational costs. Based on the product, the market can be fragmented into integrated and standalone. The integrated segment dominated the market until 2020 and is expected to grow at a decent growth rate during the forecast period as well. This dominance can be attributed to government mandates for the integration of electronic health records with a practice management system.
Siemens Healthineers AG, Philips Healthcare, GE Healthcare Europe GmbH, IBM Corporation, Cerner Corporation, Centrak Ltd., Infor Inc., Motorola Solutions Inc., Wellsky UK, McKesson Europe, and others are some of the leading players operating in the European hospital management software market. The companies operating in the market are using organic strategies such as product launches, research collaborations, mergers, and acquisitions to boost their share.
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“Europe hospital management software market is expected to witness high growth in the market during the forecast years owing to increasing healthcare expenditure and rising medical tourism in the region. Additionally, the surging need to manage regulatory compliance is further anticipated to spur market growth. Also, the presence of large market players with a focus on the development of advanced IT solutions in the region is creating lucrative opportunities for the growth of the market in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Europe Hospital Management Software Market By Product (Integrated v/s Standalone), By Deployment Mode (On-Premise v/s Cloud), By Type of Software (Patient Registration Software, Inventory Management Software, Scheduling Software, OT Management Software, Laboratory Management Software, HR Management Software, Billing, Laboratory Equipment Management, Others), By Application (Hospitals, Clinics, Others), By Region, Forecast & Opportunities, 2026”, has evaluated the future growth potential of Europe hospital management software market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the European hospital management software market.
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