Healthcare Quality Management Software Market, by Software (Clinical Risk Management Solution, Business Intelligence and analytics, Others), by Application (Risk Management, Data Management), by End-users (Ambulatory care, Hospitals, Others) – Global Industry Insights, Trends And Forecast – 2017 To 2025

Created On: Jul-2018
Report ID: IR133
Format: PDF

Healthcare Quality Management Software Market: Introduction

The task of quality management software is to achieve quality objectives and policies of a business by improving processes, ensuring customer and staff engagement, lowering cost, and others. The healthcare quality management software can be used by healthcare institutions and organizations due to its efficacy in effectively managing organizational processes.

Market Dynamics

The demand for healthcare quality management software market is anticipated to grow over the forecast period due to rising need for quality management of patient data in order to increase focus on patient care. The rising investments in research and developments in field of healthcare, coupled with increased investments in healthcare IT such analytics tools and big data are anticipated to boost the growth of global healthcare quality management software market. According to IBEF, in 2018, Indian government has approved financial outlay of US$ 170.14 million for the setup of All India Institute of Medical Sciences (AIIMS) in Deoghar, Jharkhand. Moreover, according to the Massachusetts Technology Transfer Center (MTTC), the interest of venture healthcare investors has increased in computational methods such as artificial intelligence, due to their efficacy in quality management of enterprise data. However, less awareness and necessity of quality management tools among mid-sized and small market players, coupled with high cost of the software and lack of skilled software professionals required to operate the quality management software tools can restrain the growth of the market.

Segment Analysis

The business intelligence and analytics segment is expected to grow significantly over the forecast period, owing to increase in healthcare data and emerging demand for effective software solutions to manage huge amount of data. Growing requirement for reduction of medical errors, coupled with introduction of advanced healthcare analytics tools such as predictive and prescriptive tools are expected to boost the growth of the segment. Furthermore, introduction of healthcare business intelligence systems such as Clinical decision support (CDS) system is expected to escalate the growth of business intelligence and analytics segment.

Among application segment, the use of healthcare QMS in managing volume of healthcare data is expected to rise due to exponential increase in data volume over the forecast period. The ability of QMS in data processing, abstraction of unstructured data and generating medical reports is expected to step up the demand for QMS in the healthcare industry. Furthermore, utilization of quality management software in keeping record of patient registration, consulting appointment management, bed & ward management, staff management and others can boost the market growth significantly.

Regional Insight:

North America is anticipated to dominate the healthcare quality management software market, due to well-established IT and healthcare industry in the region. Higher adoptation of compliance and safety standards by healthcare industry is expected to fuel the growth of quality management software market in the region. Regulations by ISO 9001, AS9100, US Food and Drug Administration (FDA), ISO 9000, and others to ensure the standards of quality management systems is anticipated to drive the growth of the market in the region. Furthermore presence of key players such as McKesson Corporation, Nuance Communications, and others, coupled with presence of skilled software professionals in the region are expected to boost the growth of healthcare quality management software market. Europe and Asia pacific are anticipated show continuous growth over the forecast period, due to presence of advanced healthcare infrastructure in Europe and continuously growing IT sector in countries such as India and Singapore. Furthermore, expanding healthcare sector in India can contribute greatly in escalating the growth of healthcare quality management software market. According to Indian Brand Equity Foundation (IBEF), the healthcare market is expected to grow three-fold to US$ 133.44 billion by 2022.

Competitive Landscape

The major players operating in healthcare quality management software market include Dimensional Insight Inc., McKesson Corporation, Quantros Inc., Altegra Health, Medisolv Inc., Verscend Technologies Inc., Nuance Communication Inc., 3M Company, Dolbey Systems Inc., General Dynamics Health Solutions, ArborMetrix Inc., and others. Leading players are engaged in merger and acquisition activities in order to provide high-performing healthcare software tools and systems and to ensure the continuation of their dominance in global market. For instance, in August 2017, Allscripts, a global leader in healthcare technology, announced the acquisition of Enterprise Information Solutions of McKesson to offer highly comprehensive health information solutions and technology.

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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