Healthcare ERP Consulting Services Market Size, Share & Trends Analysis Report By Functionality (Implementation, Training & Education), By End-use (Healthcare Providers, Life Science Companies)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Healthcare ERP Consulting Services market size is expected to hit around USD 15.4 billion by 2030 from valued at USD 5.2 billion in 2022 and growing at a CAGR of 18.2% from 2022 to 2030.

Key Takeaways:

• The global market is expected to witness significant growth due to the rising need to integrate business software solutions into one database
• In the functionality segment, implementation dominated the market in 2020 owing to the growing need to align successful implementation of solutions with the business goals
• The life science companies segment dominated the market in 2020 owing to the need for advanced technological solutions in medical devices and pharmaceutical companies
• North America was the dominant regional market in 2020 owing to the strong presence of key market players
• The emergence of advanced cloud technology solutions and increased adoption levels of these advanced technological systems will support the region’s growth
• However, Asia Pacific is anticipated to grow at the fastest CAGR over the forecast years due to rapidly developing IT infrastructure and a rise in the number of start-ups providing advanced software solutions

The growing healthcare expenditure and rising adoption levels of advanced technological solutions are driving facilities to successfully implement enterprise resource planning (ERP) solutions. The growing need to amalgamate multiple software solutions and applications running a facility under a single integrated database to enhance operational & financial efficiency is expected to drive the demand for consulting services in the market. Several healthcare organizations and facilities are contributing to the growing demand for ERP systems to integrate their business functionalities and enhance operational outcomes.

The rising awareness level of the organizations about the benefits associated with these solutions, such as remote location access of centralized data and better data management, is driving the adoption of ERP systems. The growing demand for consulting and strategic advising before and throughout the implementation of these solutions is driving the market growth. Adaption to the changes in business operations and training of advanced functions is a growing need of healthcare organizations and is provided by these consultancies and vendors, which is expected to propel market growth. Through the consultancy services, organizations can better understand the complexity of the solutions, the organization’s size & scope, the type of modules being implemented, and the number of external resources required.

The implementation segment dominated the market with the growing need to understand the complexity of solutions before adoption. Implementation services are provided by software vendors, staffing firms, or business transformation leadership firms. However, the training and education segment is expected to grow significantly due to the provision of end-user training workshops in addition to implementation services for healthcare organizations adopting ERP solutions. The healthcare providers segment is anticipated to record the fastest growth owing to the growing need to improve operational & financial outcomes of the organization.

Report Scope of the Healthcare ERP Consulting Services Market

Functionality Insights

In 2020, the implementation segment accounted for the highest revenue share of 76.2%. The growing demand for consultancy services amongst businesses before implementing ERP systems to understand the complexity of the technological solutions estimate the size and scope of business, type of modules to be implemented, and number & type of work required by external resources are driving the segment growth. Post understanding their business requirements, organizations can decide their ERP implementation partner from a wide array of software vendors, staffing firms, or business transformation leadership firms. Every implementation partner has a different skill set to aid the organization in the implementation process. Some of the key implementation partners are Oracle, Premier Inc, Accenture, Deloitte, KPMG, PwC, and Atos SE.

On the other hand, the training and education segment is expected to record the fastest CAGR over the forecast period. The growing need for training & education, project management, and technical expertise to accustom to the change in business operation is contributing to the segment growth. The benefits associated with successful training and education include increased user adoption, maximized productivity, successful goal achievement, strengthened ownership, and reduced implementation risk. Some of the key training and education providers for ERP systems are Workday Inc, Accenture, Huron, PwC, and Avaap.

End-use Insights

In 2020, the life sciences companies segment dominated the market with a revenue share of 69.7% due to the rising adoption of ERP systems and solutions by life science companies to integrate and streamline workflows to enhance the accuracy and efficiency of business operations. Life science companies are constantly in need of advanced technological solutions to amalgamate their various functions, such as research & development, sales & marketing, human resources, legal & regulations, and finances & accounting functionalities, to improve operational and financial efficiency. The growing need for product quality improvement and enhancing the overall business performance is driving these organizations to adopt ERP systems, which, in turn, is contributing to the market growth.

On the other hand, the healthcare providers segment is anticipated to register the fastest CAGR over the forecast years owing to the rising adoption of ERP systems by hospitals and other healthcare facilities. A significant surge in adoption rates of these technological business solutions due to the associated application in patient care management, remote patient management, chronic care management, population health management, diseases surveillance, operational intelligence, financial management, and performance management. ERP systems enable healthcare facilities to improve overall workflow efficiency and reduce expenses, and therefore it is anticipated to register significant growth over the forecasted years.

Regional Insights

North America held the largest revenue share of more than 53.8% in 2020. The presence of major market players developing ERP systems and providing consultancy services is contributing to the regional market growth. Businesses are becoming aware of the necessities of adopting these advanced systems and the benefits associated with them, which include an overall improvement in clinical, operational, and financial outcomes. The emergence of the integration of Artificial Intelligence (AI) and cloud computing into ERP systems is also expected to propel market growth.

However, Asia Pacific is anticipated to register the fastest CAGR during the forecast period due to a rise in the number of startups specializing in AI-enabled advanced systems. Other factors driving the market include growing IT infrastructure, rising workforce shortage, ineffective health facilities’ service management, surging patient population, and high adoption of advanced technological solutions. The regional market is attracting numerous public and private investments due to the development and advancements in the economy and infrastructure.

Some of the prominent players in the Healthcare ERP Consulting Services Market include:

• Accenture
• Deloitte
• PWC
• KPMG
• Cerner Corp.
• Premier, Inc.
• Workday, Inc.
• Oracle
• Atos SE
• Avaap USA LLC
• Infor

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Healthcare ERP Consulting Services market

• Functionality

• Implementation
• Training & Education
• Others
• End-Use
• Life Science Companies
• Healthcare Providers
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Healthcare ERP Consulting Services industry analysis from 2022 to 2030 to identify the prevailing Healthcare ERP Consulting Services industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Healthcare ERP Consulting Services industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Healthcare ERP Consulting Services industry trends, key players, market segments, application areas, and market growth strategies.