Pediatric Software Global Market
The Business Research Company recently released a comprehensive report on the Global Pediatric Software Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, The pediatric software market size has grown strongly in recent years. It will grow from $29.27 billion in 2023 to $31.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to early technology adoption, regulatory milestones, shift towards electronic health records (ehr), early focus on pediatric wellness, recognition of pediatric mental health needs..
The pediatric software market size is expected to see strong growth in the next few years. It will grow to $41.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to adoption of value-based care models, expansion of pediatric mental health services, growing emphasis on preventive care, rising investment in pediatric healthcare, focus on interoperability standards.. Major trends in the forecast period include personalized healthcare solutions, telehealth and remote monitoring, integration of ai and machine learning, emphasis on data security and privacy, mobile health (mhealth) solutions..
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Market Drivers and Trends:
Increasing adoption of electronic medical records 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 the pediatric software market.
Major companies operating in the pediatric software market are focused on developing revolutionary software, such as digital care coordination software, for pediatric retinal screening. Digital care coordination software refers to a technological solution designed to streamline and enhance the coordination of healthcare services and information. For instance, in November 2022, NeoLight, a US-based medical device company, launched ROPCheck.com, bolstering their position in pediatric ophthalmology with ROP risk management software, aiding in the detection and monitoring of retinopathy of prematurity (ROP). This digital care coordination platform streamlines patient care coordination, scheduling, documentation, billing, and transfer processes across NICUs, specialists, and caregivers. This addition marks a significant stride in NeoLight’s digital strategy, enhancing solutions for newborn eye screening care, and ensuring timely exams and improved outcomes.
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Major Key Players of the Market:
Epic Systems Corporation; Oracle Corporation; Medical Information Technology Inc.; Computer Programs and Systems Inc.; Medhost; Altera Digital Health; Netsmart Technologies Inc.; Athenahealth plc; Allscripts Healthcare LLC; Jag products LLC; Optum Inc.; Change Healthcare; Koninklijke Philips N V; Meta Platforms Inc.; Elinext Group; AdvancedMD Inc.; NXGN Management LLC; Kareo Corp.; Bizmatics Inc.; Greenway Health LLC; GroupOne Health Source; MedicalMine Inc.; Connexin NetWorks Ltd.; Kaaspro; Duchang IT; Goodwill Industries International Inc.; SAP SE; WRS Health; McKesson Corp.; Physician’s Computer Company; ChartWare Inc.
Pediatric Software Market 2024 Key Insights:
• The pediatric software market will grow to $41.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Surge In Adoption Of Electronic Health Records Boosts Pediatric Software Market
• Revolutionary Software For Pediatric Retinal Screening
• North America was the largest region in the pediatric software market in 2023
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