The Healthcare Quality Management Market Size was valued at USD 3.45 billion in 2022 and is expected to reach USD 10.42 billion by 2030 and grow at a CAGR of 14.8% over the forecast period 2023-2030.
The overall goal of healthcare quality management is to improve and standardize the standard of patient care and the quality of services delivered to patients. Additionally, it makes sure that significant quality management is implemented and followed in the healthcare industry. The major service providers are assisted by the healthcare analytics software in managing data and calculating risks effectively in order to lower management costs, deliver positive outcomes, and ultimately lengthen patient lives.
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A crucial component for healthcare companies and patients alike is healthcare quality management. Make sure that patients have access to appropriate treatment facilities by adopting strong management quality control in the healthcare sector. By utilizing this tool, hospitals and medical offices demonstrate their dedication to giving patients the finest care possible. With the use of quality management, treatment efficacy and patient satisfaction can both be elevated.
DRIVERS
Healthcare providers are legally required to report quality data and improve performance
Growing Value of Informal Data in the Healthcare Sector
You Need to Reduce Medical Mistakes and Health Care Expenses
RESTRAINTS
High Price of Good Reporting
Information Security Issues
OPPORTUNITIES
The release of the ICD 10 and the HL7 QRDA-III STU R2.1 guidelines
Significant Market Potential in Emerging Economies
CHALLENGES
Lack of Qualified IT Employees in the Healthcare Sector
Skills for Health Professionals Using Healthcare Quality Management Software
The market for healthcare quality management has been influenced by the COVID-19 epidemic, much like many other industries. Every nation on earth went into lockdown, and many industries' businesses temporarily closed. The biotechnology industry and pharmaceuticals were the two main areas of healthcare that had rapid growth and global demand throughout the epidemic. There is a need to create brand-new vaccinations and medications to combat the COVID-19 pandemic. International collaborations between businesses produced covid vaccines and medications for improved quality and resources.
By Software Type
The market is segmented into four groups: solutions for clinical risk management, physician quality reporting, and provider performance improvement. The leading sector with the highest market share was business intelligence and analytics solutions. Business analytics and intelligence solutions controlled the market. The size of this market is influenced by factors such as the need for healthcare providers to cut back on their skyrocketing operational costs, growing public demand for high-quality healthcare, government initiatives to support value-based care, and an increase in the number of insurance claims being rejected.
By Delivery Mode
The market was dominated by web and cloud-based solutions. The versatility of working from remote locations, affordability, and automated updating characteristics of web- and cloud-based solutions are primarily responsible for the substantial proportion of this market.
By Application
Data management and risk management are the two categories used to categorize the market. Over the projected period, the segment for data management is anticipated to have the highest CAGR. The growing amount of unrelated data and regulatory bodies' demands for reports that meet certain standards are blamed for the segment's substantial market share.
By End User
Hospitals, outpatient clinics, payers, and ACOs make up the majority of market end users in healthcare quality management. The largest market share was dominated by the global hospital sector. Key factors promoting the adoption of healthcare quality management solutions in hospitals are increasing HCIT acceptance, patient-centered growth in safety, significant growth in healthcare costs, rising rates of medical error, rising healthcare costs, and government guidelines for adherence to quality measures.
By Software Type
Business Intelligence & Analytics Solutions
Physician Quality Reporting Solutions
Clinical Risk Management Solutions
Provider Performance Improvement Solutions
By Delivery Mode
Web-& Cloud-based Solutions
On-premise Solutions
By Application
Data Management
Unstructured Data Abstraction
Data Processing & Analysis
Report Generation
Report Submission
Risk Management
By End User
Hospitals
Ambulatory Care Centers
Payer
ACOs
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The North American, European, Asian-Pacific, Latin American, and Middle East & African regions make up the segments of the worldwide healthcare quality management market. The global market was controlled by North America. During the projection period, this area is anticipated to experience the largest CAGR growth. The market in North America is expanding as a result of factors like government mandates requiring healthcare providers to report quality and improve the performance of the care provided an increase in the volume of unstructured data in the healthcare industry, an increase in healthcare spending, a rapidly aging population, a high rate of medication errors, and an increase in funding from government agencies.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major key players are Altegra Health, Inc., CitiusTech Inc., Dolbey Systems, Inc., Cerner Corp., McKesson Corp., Nuance Communications, Inc., Medisolv, Inc., Premier, Inc., Quantros, Inc., Truven Health Analytics, Surescripts, LLC and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 3.45 Billion |
| Market Size by 2030 | US$ 10.42 Billion |
| CAGR | CAGR of 14.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Software Type (Business Intelligence & Analytics Solutions, Physician Quality Reporting Solutions, Clinical Risk Management Solutions, Provider Performance Improvement Solutions) • By Delivery Mode (Web-& Cloud-based Solutions, On-premise Solutions) • By Application (Data Management, Unstructured Data Abstraction, Data Processing & Analysis, Report Generation, Report Submission, Risk Management) • By End User (Hospitals, Ambulatory Care Centers, Payer, ACOs) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Altegra Health, Inc., CitiusTech Inc., Dolbey Systems, Inc., Cerner Corp., McKesson Corp., Nuance Communications, Inc., Medisolv, Inc., Premier, Inc., Quantros, Inc., Truven Health Analytics, Surescripts, LLC. |
| Key Drivers | • Healthcare providers are legally required to report quality data and improve performance • Growing Value of Informal Data in the Healthcare Sector • You Need to Reduce Medical Mistakes and Health Care Expenses |
| Restraints | • High Price of Good Reporting • Information Security Issues |
Ans: The Healthcare Quality Management market is expected to grow at a CAGR of 14.8% over the forecast period 2023-2030.
Ans: The Healthcare Quality Management Market size was valued at US$ 3.45 billion in 2022.
Healthcare Quality Management Market is divided into four segments and they are By Software Type, By Delivery Mode, By Application, and By End User
The global market was controlled by North America.
The sub segments of by delivery mode of the Healthcare Quality Management Market is Web-& Cloud-based Solutions, and On-premise Solutions.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Quality Management Market Segmentation, By Software Type
8.1 Business Intelligence & Analytics Solutions
8.2 Physician Quality Reporting Solutions
8.3 Clinical Risk Management Solutions
8.4 Provider Performance Improvement Solutions
9. Healthcare Quality Management Market Segmentation, By Delivery Mode
9.1 Web-& Cloud-based Solutions
9.2 On-premise Solutions
10. Healthcare Quality Management Market Segmentation, By Application
10.1 Data Management
10.2 Unstructured Data Abstraction
10.3 Data Processing & Analysis
10.4 Report Generation
10.5 Report Submission
10.6 Risk Management
11. Healthcare Quality Management Market Segmentation, By End User
11.1 Hospitals
11.2 Ambulatory Care Centers
11.3 Payer
11.4 ACOs
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Altegra Health, Inc.
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 CitiusTech Inc.
13.3 Dolbey Systems, Inc.
13.4 Cerner Corp.
13.5 McKesson Corp.
13.6 Nuance Communications, Inc.
13.7 Medisolv, Inc.
13.8 Premier, Inc.
13.9 Quantros, Inc.
13.10 Truven Health Analytics
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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