LONDON, June 27, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s research on the pediatric software market, the global pediatric software market size is expected to grow from $27.2 billion in 2022 to $29.3 billion in 2023 at a compound annual growth rate (CAGR) of more than 7%. The global pediatric software market size is then expected to reach $37.9 billion in 2027 at a CAGR of more than 6%.
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The growing use of electronic medical records is likely to drive the paediatric software market ahead. An electronic health recorder (EHR) is a computerised compilation of various medical records created during clinical interactions or other events. It's an improved electronic medical record (EMR), which is a computerised record of a patient's medical history. A paediatric EHR reduces paperwork time and improves care quality, and paediatric software provides the tools, therefore increasing EHR usage will drive market growth. According to the Office of the National Coordinator for Health Information Technology, a US-based resource for the entire health system, in 2021, 9 out of 10 physicians in the US had embraced an electronic health record, and nearly 4 out of 5 had adopted a certified EHR. As a result, the growing usage of EHR is fuelling the demand for paediatric software.
Major players in the pediatric software market are Epic Systems Corporation, Oracle Corporation, Medical Information Technology Inc., Computer Programs and Systems Inc., Medhost, Altera Digital Health, Netsmart Technologies.
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Product innovation is a prevalent trend in the paediatric software market. To enhance their position in the paediatric software market, major corporations are launching new products. WRS Health, a US-based provider of fully integrated EHR and practise management software solutions for healthcare, for example, will launch Pediatrics-Cloud, a software and services provider focusing solely on paediatrics, in December 2020. It is one-of-a-kind in that it has pre-loaded notes and templates to make patient encounters more efficient, timely, and focused. The software offers automated appointment and health maintenance reminders, telehealth features with a virtual waiting room, and medication management with a dosage calculator and built-in alarms.
North America was the largest region in the pediatric software market in 2022. The regions covered in the global pediatric software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global pediatric software market is segmented by type into type i, type ii; by modality into magnetic resonance imaging MRI, computed tomography CT, ultrasound, x-ray; by application into pc terminal, mobile terminal, orthopedics, gastroenterology, cardiology, oncology, neurology, other applications; by end users: hospitals, diagnostic centres, other end users.
Pediatric Software Global Market Report 2023 by The Business Research Company provides insights on the pediatric software market size, pediatric software market segments, pediatric software market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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