Healthcare quality management market projected to grow at a CAGR of 14.2%
The global healthcare quality management market is projected to reach USD 3.31 billion by 2022 from an estimated USD 1.70 billion in 2017, at a CAGR of 14.2%. Government mandates for healthcare providers to report quality & improve the performance of care provided, increase in the volume of unstructured data in the healthcare industry, and need to curtail healthcare costs & medical errors are the major factors driving the growth of the healthcare quality management market. Emerging economies are a highly lucrative market for quality reporting & management solutions owing to the implementation of various government initiatives focused on the greater adoption of HCIT solutions. However, the shortage of skilled IT professionals in healthcare facilities presents a major challenge to the adoption of these solutions among healthcare providers.
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The business intelligence & analytics solutions segment is expected to grow at the highest CAGR during the forecast periodOn the basis of type, the healthcare quality management market is categorized into business intelligence and analytics, physician quality reporting solutions, clinical risk management solutions, and provider performance improvement solutions. The business intelligence and analytics solutions segment is expected to grow at the highest CAGR during the forecast period. The soaring operating costs, rising demand for quality healthcare, government measures to promote value-based care, and the increasing number of claims denied from insurers are the major factors driving the growth of the business intelligence & analytics solutions segment.
By end user, the ambulatory care centers segment is expected to grow at the highest CAGR during the forecast period
On the basis of end user, the healthcare quality management market is categorized into hospitals, ambulatory care centers, payers, ACOs, and other end users. The ambulatory care centers segment is expected to grow at the highest CAGR during the forecast period. Mandates to comply with quality measures, rising focus on providing quality care through the effective use of technologies, and rising healthcare costs are the major factors supporting the adoption of quality management solutions in ambulatory care centers.
North America is expected to grow at the highest CAGR during the forecast period
North America is the fastest-growing market for healthcare quality management solutions. This growth can be attributed to the rising healthcare IT spending and government mandates for healthcare providers to report quality & improve the performance of care provided.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–45%, Tier 2–33% and Tier 3–22%
- By Designation – C-level–30%, Director Level–40%, Others–30%
- By Region – North America–36%, Europe–29%, Asia-Pacific–21%, RoW – 14%
Nuance Communications, Inc. (U.S.), Medisolv, Inc. (U.S.), Truven Health Analytics (U.S.), Cerner Corporation (U.S.), Premier, Inc. (U.S.), McKesson Corporation (U.S.), Verscend Technologies, Inc. (U.S.), Dolbey Systems, Inc. (U.S.), QUANTROS, INC. (U.S.), Altegra Health (U.S.), Enli Health Intelligence (U.S.), and CitiusTech Inc. (U.S.) are the major players in the healthcare quality management market.
The healthcare quality management market in this report is segmented by type, delivery mode, application, end user, and region. It provides detailed information regarding major factors influencing the growth market (drivers, restraints, opportunities, and industry-specific challenges). The study tracks and analyzes competitive developments (such as partnerships, agreements, collaborations, mergers & acquisitions, new product developments, geographical expansions, and R&D activities) and profiles the key players and analyzes their market shares and core competencies in the healthcare quality management market.
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