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Global Medical Scheduling Software Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Software, Type (Scheduling software, Patient communication software, Invoice/Billing software, Insurance management software & others), End-User & Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 8778
Pages: 100
Formats: report pdf report excel report power bi report ppt

Medical Scheduling Software Market Size (2022 to 2027)

The global medical scheduling software market size is forecasted to value USD 738.6 million by 2027 from USD 389.21 million in 2022, growing at a CAGR of 13.67% during the forecast period.

A few of the key insights from this report:

  • Based on the type of software, the web-based segment dominated the market in 2021.
  • North America accounted for 40.2% of the global market share in 2021.
  • The European market is anticipated to be worth USD 213.82 million by 2027.
  • The Asia-Pacific market is expected to grow at a CAGR of 15.73% from 2022 to 2027.

Today, the IT sector plays an immense role in contributing various applications for the medical industry. This software enables the user to plan all inappropriate work periods. It also helps in monitoring the schedule timings and notifies accordingly. Medical scheduling software ensures sending reminders and notifications via e-mail or SMS. The web-based platform provides feasibility for the users. It accurately offers various benefits for the application, and this software handles customer service centers where they provide 24/7 services for the customers. It customizes the timings and appointments, which reduces pressure on the management. It sets hassle-free booking solutions in hospitals and clinics. 

Impact of Covid-19 on the global medical scheduling software market.

The Covid-19 pandemic brought a severe economic crisis worldwide with the shutdown of supply and demand chains due to quarantines. Many business enterprises faced significant losses due to a decline in sales and loss of stocks. In addition, the healthcare industry went into a significant crisis due to the lack of sufficient staff and resources to admit the rapid influx of covid patients. However, the pandemic has positively impacted medical scheduling software due to the growing shift toward internet-based platforms, online remote care, and the increasing need for better administrative systems in healthcare settings. Therefore, the growth in the healthcare IT sector has pushed the development of the market. The market is expected to keep growing in the post covid era due to the demand increase. 

MARKET DRIVERS:

The rise in awareness over the availability of various software developments worldwide is one factor that propels the medical scheduling software market growth.

Increasing the flow of patients to hospitals with various health disorders is also enhancing the demand for medical scheduling software. Besides, the increasing prevalence of providing effective treatment for patients is accelerating the growth of this market. Another factor influencing the development of the market is the decreasing availability of staff members in the medical sector. Therefore, the shortage of physicians worldwide will positively impact the market's growth. Association of America Medical Colleges (AAMC) studies stated that by the end of 2023, a shortage of 120,000 physicians might impact patient care globally. 

Growing awareness around IoT is anticipated to fuel the growth rate of the medical scheduling software market.

Also, a rise in the incidences of chronic diseases and a growing elderly population are increasing the market's growth. The utilization of smartphones and laptops is a contributing growth rate for the medical scheduling software market. Cloud-based technology is also essential for the market's growth as there is a need to store high-capacity data and again to run the application without any traffic. However, the trend toward early diagnosis of diseases is likely to outshine the market's growth. 

MARKET RESTRAINTS:

However, the shortage of skilled persons to operate the systems is slowly hindering the market's growth rate. Frequent changes in software technology are also one of the factors restricting the growth of the market. Rising prices of the raw materials in electronics and electrical industries are leveling up the costs of final Software, which is challenging for market growth. In addition, cyber threats and other risks associated with the applications inhibit the growth of the medical scheduling software market. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Software, Type, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis; Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

TimeTrade, AdvancedMD, Inc., StormSource, LLC, MPN Software Systems, Inc., American Medical Software, Daw Systems, Inc., WellSky, Voicent Communications Inc., Yocale Network Corporation, and ByteBloc Software

 

This research report on the global medical scheduling software market has been segmented and sub-segmented based on software type, end-user, and region.

Medical Scheduling Software Market – By Software:

  • Web-based software
  • Installed software

Based on the software, the web-based software segment is leading with the highest share of the market. Growing awareness of over-utilizing the IT sector's latest techniques, government support by changing schemes, and launching reimbursement in favor of the ordinary people are supporting the growth of this segment.

The installed software is right behind the web-based software in revenue and is expected to witness steady growth due to the advancement in internet-based services like the web-based software over the installed version. 

Medical Scheduling Software Market - By Type:

  • Scheduling software
  • Patient communication software
  • Invoice/Billing software
  • Insurance management software
  • Others

Based on software type, the scheduling software segment had the largest share of the medical scheduling software market in 2021, owing to the growing demand to manage the flow of patients and promote effective treatment procedures. 

However, the insurance management software is also expected to show significant growth during the forecast period due to the rising need to manage proper insurance and claim all the insurance required because of the growing costs of healthcare settings. 

Medical Scheduling Software Market - By End-User:

  • Hospitals
  • Clinics 
  • Others

The hospital segment has been growing faster in the past few years and is also deemed to hold more than 40% market share. The rise in the constructional activities of hospitals with the latest techniques is elevating the growth of the medical scheduling software market. The clinic's segment, however, is also expected to witness growth due to more establishment of individual healthcare systems and an attempt to make clinics world-class health spaces with the adoption of advanced software and technology. 

Medical Scheduling Software Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Regionally, North America dominated the global medical scheduling software market in 2021 owing to the rapid adoption of the latest technologies and implementation of new applications at a high success rate. Along with this, the rise in capital income in almost every country is leveraging the market's growth. Additionally, the United States is experiencing a physician and nurse shortage due to the country's aging population leading to market growth in the region. Furthermore, major market participants invest in mergers and acquisitions, and a well-established healthcare infrastructure further promotes market growth. 

The Asia Pacific and Europe had a substantial share of the global market in 2021, followed by North America. With the rising geriatric population and increasing scale of the IT sector, the launch of various medical applications in smartphones and laptops is lavishing the market growth in these regions. Additionally, the growing changes in lifestyles and the need to manage the large populations in countries like India, China, Japan, South Korea, etc., are helping the market in the region. 

However, the market in the Middle East and Latin America is expected to grow steadily due to the recent popularity of software-based systems and their quick adoption in the regions. 

KEY MARKET PLAYERS:

Companies such as TimeTrade, AdvancedMD, Inc., StormSource, LLC, MPN Software Systems, Inc., American Medical Software, Daw Systems, Inc., NueMD, WellSky, Voicent Communications Inc., Yocale Network Corporation, and ByteBloc Software are a few of the leading players in the medical scheduling software market.

RECENT MARKET HAPPENINGS:

  • In October 2022, a market-leading provider of revenue cycle management (RCM) solutions to ambulatory surgery centers (ASCs), hospitals, clinics, and specialty groups worldwide, National Medical Billing Services (or "National Medical") has acquired MedTek, LLC (or "the Company"), a leading provider of RCM solutions. Through this relationship, National Medical will be better able to serve ASCs, surgical practices, and anesthesia groups as a complete end-to-end supplier of outsourced revenue cycle solutions.
  • In October 2022, Signify Health, a home healthcare provider, was just purchased by CVS Health for an astounding $8 billion. The most prominent names in healthcare are interested in making an offer. Therefore I only see home healthcare becoming more and more popular and accessible in the future. It is logical that healthcare is evolving and has been doing so gradually in recent years. To provide care where it is most comfortable for each individual, doctors increasingly visit patients instead of having them go to them.
  • In October 2022, Exer Urgent Care and Intent, a patient-centered healthcare management software supplier, formed a strategic business alliance. With this cooperation, Intend's patient-centered user interface platform will be available at 29 of Exer's sites across Southern California, making it easier for patients to receive treatment and information before and after a visit. Excel Urgent Care is dedicated to innovating and enhancing the patient experience and is always putting new technology into practice to serve the community better, of which Intend is only one.
  • In November 2022, the partnership between this, an ICT firm specializing in providing business software services, and Talent, a Romanian technology company known for democratizing access to Robotic Process Automation (RPA) solutions, will enable the delivery of cost-effective and approachable software robots for healthcare, retail, and logistics businesses. Although there have been tools for digital transformation for some time, the most significant barrier to robotic process automation adoption for mid-market organizations was the high licensing costs for traditional RPA technologies.
  • In July 2018, AdvancedMD Inc. acquired Nuesoft Technologies, Marietta, Georgia-based SaaS platform. This acquisition has simplified many tasks in the medical sector, especially in clinical and medical billing.
  • In 2018, WellSky company expanded its customer-based applications and broadened its headquarters in Kansas with the latest technology.

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FAQ's

How big is the medical scheduling software market?

The global medical scheduling software market size was valued at USD 342 million in 2021.

What is the growth rate of the medical scheduling software market?

The global medical scheduling software market is anticipated to be growing at a CAGR of 13.67% from 2022 to 2027.

Which region had the major share in the global medical scheduling software market?

North America led the medical scheduling software market in 2021.

What are the companies playing a leading role in the medical scheduling software market?

Companies playing a major role in the medical scheduling software market are TimeTrade, AdvancedMD, Inc., StormSource, LLC, MPN Software Systems, Inc., American Medical Software, Daw Systems, Inc., WellSky, Voicent Communications Inc., Yocale Network Corporation, and ByteBloc Software.

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