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Healthcare Quality Management Market
The augmenting government initiatives to implement quality services in the healthcare sector are primarily responsible for market growth. With a surge in unstructured data in the medical industry, the demand for the system that can bring down cost along with the errors is highly demanded in the market. Patient-centric systems are gaining preference for their high acceptance rate. Such management systems aid in bringing the entire community that includes doctors and nurses of any medical institutions with respect to the standard protocols and processes.
Both the applications, risk management as well as data management are gaining preference amongst different healthcare end-users. Hospitals as end-user are expected to contribute a huge chunk of the revenue in the market. Other prominent end-users in the market include ambulatory care centers and ACOs. In the software segment, business intelligence and analytics solutions are forecasted to hold major market share.
North America is projected to lead the global market in the coming years in terms of growth. Prominent market players are developing advanced and cost-effective solutions to enhance their product profile. Established players profiled in the global healthcare quality management market are McKesson Corp., Quantros, Inc. Nuance Communications, Inc., Dolbey Systems, Inc., Truven Health Analytics Inc., CitiusTech Inc., and Cerner Corp.
The healthcare quality management market is growing at a brisk pace all over the world. Some of the factors responsible for the growth of this market are the various mandates that the governments across the world have put in place for healthcare providers so that healthcare quality is maintained and improve the performance of care which they provide. Also, there is an increase in the quantity of unstructured data in the healthcare industry and healthcare cost and medical errors need to be brought down. Hence, healthcare quality management is necessary for healthcare organizations.
Also, care should be taken to ensure that such kind of quality management in the healthcare arena is patient-centric. In order to ensure quality in healthcare, adapting and implementing standards and tools is necessary. Also, everyone in the healthcare loop, right from doctors to the nursing and support staff need to be aware of such processes and standards. The main aim of the healthcare quality management system is to ensure that patients get the best possible services and they are well taken care of.
According to the assessment of Persistence Market Research, the global healthcare quality management market is forecasted to reach a figure of about US$ 3,100 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.
The market in North America is set to dominate the global healthcare quality management market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America healthcare quality management market is the most attractive market, growing at a robust CAGR over the forecast period.
According to the projections of Persistence Market Research, the business intelligence & analytics solutions segment is expected to reach a value of about US$ 1,150 Mn in the year 2022. This signifies a robust CAGR during the forecast period of 2017-2022. The business intelligence & analytics solutions segment is estimated to account for more than one-third of the revenue share of the software segment by the end of the year 2017 and is expected to gain in market share by 2022 over 2017.
According to the assessment of Persistence Market Research, the hospitals segment is poised to touch a figure of about US$ 1,200 Mn in the year 2022. This signifies a CAGR of nearly 12% during the assessment period from 2017 till the year 2022. The hospitals segment is estimated to account for more than one-third of the revenue share of the end users segment by the end of the year 2017 and is projected to gain market share by 2022 over 2017.