Report : Middle East and Africa Master Patient Index Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Software, and Service); Deployment (Cloud-based, and On premises)
Software Segment has the Largest Share of Type in the Middle East and Africa Master Patient Index Software Market during 2021–2028
According to a new market research study on “Middle East and Africa Master Patient Index Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, and Deployment,” is expected to reach US$ 52.7 million by 2028 from US$ 31.2 million in 2021. The market is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The report provides trends prevailing in the Middle East and Africa master patient index software market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as assistance in maintaining and managing clinical, financial, and demographic data of patients due to its advantages and adoption of cloud-based technologies are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of software.
The primary source of economic stabilization in Middle East countries is oil production and export. However, the recent pandemic is causing turbulence to the economies of the Middle East region. A sudden drop in domestic and external demand for goods and products, especially crude oil, and halted production due to labor shortage are significant impacts observed in the region. Though countries such as UAE, Saudi Arabia, and Turkey are focusing on adopting advanced patient data technologies, the market in the rest of the nations is expected to witness considerable decline due to a lack of healthcare infrastructure. Additionally, tightened financial condition is also decreasing the economic activities in the region. Since the beginning of 2020, the COVID-19 pandemic has caused enormous health, social and economic impacts, which is likely to continue in 2021. Even after some of these impacts have been mitigated or contained, there will be medium- and longer-term consequences. However, the healthcare systems in the UAR, Saudi Arabia, South Africa, and other countries are adopting advanced patient data tools in their hospitals, clinics, laboratories, diagnostic centers, and other institutions. And the developing healthcare IT infrastructure in the region is expected to have a positive impact on the master patient index software during the COVID19 pandemic.
The market for master patient index software market is segmented into type, and deployment. Based on type, the master patient index software market is segmented into software, and service. In 2020, based on type, the software segment held the largest share of the market, also the same segment is estimated to grow at the highest CAGR due to increasing development in the healthcare IT by the market players, and adoption patient data management software to enhance patient care during the forecast period.
McKESSON CORPORATION, Oracle Corporation, Wipro Limited, Allscripts Healthcare Solutions, Inc., MEDITECH, and Intersystems Corporation are among the leading companies in the Middle East and Africa master patient index software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in August 2020, Allscripts and Sheba Medical Center have developed a collaboration to increase the pace of artificial intelligence technology and enhance patient safety through the hospitals' ARC Innovation Center. ARC, which stands for accelerate, reinvent, and collaborate, is Sheba Medical Center's research arm, with a goal of transforming healthcare by 2030.
The report segments the Middle East and Africa Master Patient Index Software market as follows:
- On Premises
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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