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Medical Software Market Size to Touch USD 104.1 Billion By 2030 According Acumen Research and Consulting

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LOS ANGELES, Jan. 25, 2023 (GLOBE NEWSWIRE) — The Global Medical Software Market Size gathered USD 41.2 Billion in 2021 and is set to garner a market size of USD 104.1 Billion by 2030 growing at a CAGR of 10.9% from 2022 to 2030.

Medical Software Market Overview

The Medical Software Market has been growing rapidly. The medical software applies computer technology to improve healthcare delivery and management. The medical software market encompasses a wide range of software products and services, including electronic health records (EHRs), practice management systems, medical billing and coding software, telemedicine platforms, and population health management tools.

Primary driver of growth in the medical software market share is the high adoption of EHRs by healthcare providers. EHRs can replace traditional paper-based records to provide better efficiency and effective ways to manage patient information. They also help providers in meeting regulatory requirements and improving patient care coordination.

Another driver of growth in the medical software market share is the increasing use of telemedicine. Using telemedicine platforms, healthcare providers can remotely diagnose and treat patients with videoconferencing, remote monitoring, and other digital tools. This technology has many benefits for patients in remote and rural areas and for those with mobility issues.

The market for medical software is also being impacted by the growing use of big data and analytics. These technologies are being used to analyze large amounts of patient data and identify patterns that can help providers to improve patient outcomes and reduce costs.

However, the market is also facing few challenges, such as the need for better data security and privacy, and the need for providers to integrate different software systems to work together seamlessly.

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Medical Software Market Report Coverage:

Market Medical Software Market
Medical Software Market Size 2021 USD 41.2 Billion
Medical Software Market Forecast 2030 USD 104.1 Billion
Medical Software Market CAGR During 2022 – 2030 10.9%  
Medical Software Market Analysis Period 2018 – 2030
Medical Software Market Base Year 2021  
Medical Software Market Forecast Data 2022 – 2030
Segments Covered By Software Type, By Application, By End-User, And By Geography
Medical Software Market Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Allscripts Healthcare, Athenahealth, Cerner Corporation, CureMD Healthcare, Epic Systems, eClinicalWorks, First Databank, GE Healthcare, Henry Schein, IBM, McKesson Corporation, and Siemens Healthcare.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Medical Software Market Highlights and Statistics

  • The global Medical software market size in 2021 stood at USD 41,200 Million and is set to reach USD 104,100 Million by 2030, growing at a CAGR of 10.9%
  • The growing usage of electronic health records (EHRs) and increased demand for cost-effective and efficient healthcare delivery are the major reasons for the market growth.
  • Under the software type segment, medical practice management software made up for over 20% market share.
  • Whereas for the application segment, the hospitals category made up for over 30% of market share.
  • North America’s medical software market size stands out as the largest in terms of revenue and is expected to continue its dominant position during the forecast period, thanks to the increasing adoption of advanced medical software solutions and high patient population in the region.
  • Some players operating in the market for medical software include Cerner Corporation, McKesson Corporation, Athenahealth, Inc., Epic Systems Corporation, GE Healthcare, Allscripts Healthcare Solutions, Inc., NextGen Healthcare, Inc., Meditech, and Siemens Healthineers.

Trends in the Medical Software Market

Increasing adoption of cloud-based medical software: With the growing need for remote monitoring and telemedicine, cloud-based medical software is becoming increasingly popular among healthcare providers. This allows them to access patient data and medical records from any location, making it easier to provide patient care and conduct remote consultations.

Growing use of artificial intelligence and machine learning in Medical software technologies to provide more accurate and efficient patient care. They are used in areas such as diagnostic imaging, drug discovery, and predictive analytics.

The high usage of smartphones and other mobile devices leading to a rise in the development of mobile health solutions, which include mobile apps for tracking health data, monitoring chronic conditions, and providing medication reminders.

Expansion of the Internet of Medical Things (IoMT): The IoMT refers to the integration of internet-connected medical devices for example, wearables and remote monitoring devices, with medical software. This allows for real-time monitoring of patients and the provision of more accurate and timely care.

Growing use of blockchain technology which can provide secure and transparent data sharing among healthcare providers to improve patient outcomes by providing doctors with access to a patient’s complete medical history.

Increasing focus on patient engagement including patient portals and mobile apps to help patients access their medical records, make appointments, and receive medication reminders.

Medical Software Market Dynamics

  • Increasing implementation of electronic health records (EHRs) as they help to improve patient outcomes and reduce medical errors.
  • Growing need for cost-effective and efficient healthcare delivery by automating routine processes and reducing administrative costs.
  • Advancements in technology: The development of advanced medical software solutions, such as telemedicine, mHealth, and cloud-based solutions, is driving the market growth.
  • Government initiatives and regulations: Government initiatives have been promoting the adoption of EHR systems and other medical software solutions.
  • Rise in the number of chronic diseases: The increasing incidence of chronic diseases due to various reasons is driving the demand for medical software solutions.
  • Increasing adoption of value-based care models: Medical software solutions help to improve the quality of care and reduce costs, making them an essential part of value-based care models.
  • Growing geriatric population: The aging population is driving the demand for medical software solutions, as elderly patients require more frequent and specialized care.

Medical Software Market Growth Hampering Factors

  • Lack of standardization and interoperability of medical software systems has the capability to hamper the market growth.
  • Limited budget allocation and limited access to healthcare infrastructure and resources in developing countries can impede the adoption of medical software.
  • High costs of implementation and maintenance of medical software can be a major barrier for small and medium-sized healthcare organizations.
  • Data security and privacy concerns can lead to limitation in the adoption of medical software in healthcare organizations.
  • Inadequate awareness regarding the benefits and capabilities of medical software among healthcare professionals can also hamper the market growth.
  • The lack of technical expertise among healthcare professionals to operate and maintain complex medical software systems can also hinder the market growth.
  • Some healthcare professionals are reluctant to adopt and adapt to new technologies, this can also hamper the market growth.

Check the detailed table of contents of the report @

https://www.acumenresearchandconsulting.com/table-of-content/medical-software-market

Market Segmentation

By Type of Software

  • Electronic Health Records (EHR)
  • Telemedicine Software
  • Medical Practice Management Software
  • Clinical Decision Support Systems (CDSS)
  • Medical Billing and Coding Software
  • Others

By Type of Application

  • Hospitals
  • Clinics
  • Ambulatory Care Centers
  • Others

By End-User segment

  • Providers
  • Patients
  • Payers

Medical Software Market Overview by Region

North America is expected to dominate the medical software market share during the forecast period, owing to the increasing adoption of advanced medical software solutions in the region. The US and Canada are the major contributors to the market growth with the USA being home to several companies developing medical software, the country also has a high healthcare expenditure.

Europe is also an important market for medical software, driven by the increasing adoption of EHRs in the region. The medical software market share in Europe is driven by the growing focus on reducing healthcare costs and improving patient outcomes. Countries such as Germany, the UK, and France are amongst the largest contributors to the market growth in the region.

The Asia-Pacific medical software market share is projected to grow at the fastest CAGR for our forecast analysis period, owing to the increasing adoption of medical software solutions in the region. The market in the Asia-Pacific region is driven by the increasing healthcare expenditure and the growing focus on improving healthcare delivery in countries such as China, India and Japan.

The Latin America and the MEA region, and is expected to show moderate growth in the medical software market size.

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Medical Software Market Key Players

Cerner, Epic Systems, and Allscripts, as well as smaller companies that specialize in specific areas such as electronic health records (EHRs), medical billing and coding, telemedicine, and practice management. Other players in the market include Athenahealth, McKesson, Meditech, eClinicalWorks, Greenway Health, GE Healthcare, Siemens Healthineers, Philips Healthcare,

Oracle Corporation, IBM Watson Health, Infor, Medidata Solutions, eHealth Technologies, Practice Fusion (Allscripts) and NextGen Healthcare. Additionally, there are many start-ups and new entrants in the market.

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The Global Cardiovascular Biomarker Testing Market accounted for USD 6.9 Billion in 2020 with a considerable CAGR of 8.5% during the forecast period of 2021 to 2028.

About Acumen Research and Consulting:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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