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Global Healthcare Quality Management Software Market – Industry Trends and Forecast to 2031

Healthcare

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Global Healthcare Quality Management Software Market – Industry Trends and Forecast to 2031

  • Healthcare
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Healthcare Quality Management Software Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 1.11 USD Billion
Diagram Market Size (Forecast Year) USD 4.59 USD Billion
Diagram CAGR %

Major Markets Players

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Global Healthcare Quality Management Software Market, By Type (Business Intelligence and Data Analytics Solutions, Clinical Risk Management Solutions, Physician Quality Reporting Solutions, and Provider Performance Improvement Solutions), Application (Data Management, Risk Management, Others), Deployment Mode (Cloud-based, On-Premises, and Web Based), End-Use (Hospitals, Ambulatory Surgery Centres, Nursing Homes, and Others) – Industry Trends and Forecast to 2031.

Healthcare Quality Management Software Market Analysis and Size

The healthcare quality management market is expected to witness a CAGR of 13.9% during the forecast period. The COVID-19 pandemic has significantly impacted the healthcare industry, including the healthcare quality management market. The pandemic has created a surge in demand for quality management solutions, particularly those that support remote working and telehealth. It also accelerated the adoption of digital technologies in healthcare, including quality management software. Many healthcare providers sought ways to automate quality management processes, reduce manual tasks, and streamline workflows. Patient traffic towards hospitals and healthcare centers has decreased significantly during the pandemic.

For instance, according to the study published by a British Medical Journal in February 2021, healthcare utilization declined by about a third during the pandemic, with significant variation and more considerable decreases among persons with less severe illnesses, thereby impacting the market growth. Post-pandemic, the healthcare quality management software will assist businesses in recovering from the effects of the coronavirus, allowing them to work more efficiently on risk management and other operational challenges, thereby expected to drive the market in the forecast period.

Data Bridge Market Research analyses that the global  healthcare quality management market which was USD 1.11 billion in 2023, would rocket up to USD 4.59 billion by 2031, and is expected to undergo a CAGR of 13.24% during the forecast period. This indicates the market value dominates the type 13.24% segment of the healthcare quality management market owing to their convenience, comfort, and ability to provide continuous monitoring. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, and Pricing in USD

Segments Covered

Type (Business Intelligence and Data Analytics Solutions, Clinical Risk Management Solutions, Physician Quality Reporting Solutions, and Provider Performance Improvement Solutions, Application (Data Management, Risk Management, Others), Deployment Mode (Cloud-based, On-Premises, and Web Based), End-Use (Hospitals, Ambulatory Surgery Centres, Nursing Homes, and Others)

Countries Covered

U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa

Market Players Covered

Intelex Technologies (Canada), Okkala Solutions Private Limited (India), , Premier, Inc.(U.S), Qualityze Inc. (U.S.), Title21 Software, Inc. (U.S.), OdiTek Solutions(India), Ideagen (U.K.)

Market Opportunities

  • Rising Demand for Streamlined Healthcare Operations
  • Emphasis on Regulatory Compliance and Patient Safety

Market Definition

The healthcare quality management market is growing steadily due to government mandates for healthcare systems to improve the quality and performance of healthcare providers, the increasing amount of unstructured healthcare data, and the aging population. For instance, as per the article published by the NCBI in February 2023, there has been an increase in the unstructured electronic health record (EHR) data for predicting mortality in the recent few years. As per the same source, the unstructured data comprise 80% of EHR. This unstructured data includes free-text clinical notes, diagnostic imaging, and laboratory reports. Thus, the enormous amount of unstructured data is projected to create new technological developments to help extract valuable insights from unstructured data.

Healthcare Quality Management Software Market Dynamics

Drivers

Increasing Emphasis on Patient Safety and Regulatory Compliance:

  • The rising focus on patient safety and stringent regulatory requirements in the healthcare sector is a significant driver for adopting quality management software. Healthcare organizations worldwide invest in advanced software solutions to comply with regulatory standards, track and manage quality metrics, and ensure patient safety. These systems help streamline processes, reduce errors, and enhance overall healthcare quality, thereby meeting the evolving regulatory landscape.
  • Growing Demand for Efficient Healthcare Operations and Cost Reduction:

Healthcare providers are increasingly adopting quality management software to enhance operational efficiency and reduce costs. These solutions streamline workflow processes, automate manual tasks, and provide real-time insights into performance metrics. By optimizing operations and minimizing inefficiencies, healthcare organizations can achieve cost savings, improve resource utilization, and deliver better patient care. The demand for cost-effective solutions that improve overall healthcare quality is a driving force behind the global adoption of healthcare quality management software.

Opportunities

  • Rising Demand for Streamlined Healthcare Operations:

   As the healthcare industry grows and becomes more complex, there is an increasing need for streamlined and efficient operations. Healthcare Quality Management Software (HQMS) offers opportunities to automate and integrate processes such as patient data management, regulatory compliance, and quality assurance. This can lead to improved workflow, reduced errors, and enhanced overall operational efficiency, contributing to better patient care and resource utilization.

  • Emphasis on Regulatory Compliance and Patient Safety:

   With stringent regulations and a growing focus on patient safety, healthcare organizations are investing in solutions that help them meet compliance standards. HQMS provides tools for tracking and ensuring adherence to regulatory requirements, accreditation standards, and quality metrics. Organizations that adopt quality management software can capitalize on the opportunity to meet regulatory expectations and enhance patient safety and satisfaction by consistently delivering high-quality healthcare services.

Restraints/Challenges

  • Implementation of the Quality Management

   The complexity of implementation within healthcare systems may hinder the adoption of healthcare quality management software. Integrating the software with existing systems, training healthcare professionals, and ensuring seamless workflow transitions can be time-consuming and resource-intensive. Resistance to change among healthcare staff and the need for extensive customization to align with diverse healthcare practices can impede swift and effective implementation.

  • Data Security Concerns and Issue

   Healthcare quality management software deals with sensitive patient data, making data security a critical concern. The risk of data breaches, unauthorized access, or cyber-attacks poses a significant restraint. Healthcare organizations must invest heavily in robust cybersecurity measures to protect patient information, comply with data protection regulations, and build patient trust. Stringent security requirements may slow down the adoption of these systems due to concerns about the potential compromise of patient confidentiality.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the metal wire rolling machine market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.

Recent Developments

in February 2022, Hexagon AB acquired ETQ, a SaaS-based QMS software provider. This acquisition will strengthen Hexagon AB's market position by adding a QMS software platform to its portfolio. In November 2021, Crothall Healthcare partnered with Intelex to launch "team quest," a dedicated web based QMS platform. This collaboration resulted in the development of a comprehensive software solution designed to streamline quality management processes in hospitals

  • In November 2021, Koninklijke Philips N.V. completed the acquisition of Cardiologs, a French medical technology company. This acquisition enables Philips to leverage Cardiologs' AI model for interpreting data from a range of monitoring devices, such as ECG patches, Holter monitors, and smartwatches, to produce medical reports

 Healthcare Quality Management Software Market Scope

The healthcare quality management software market is segmented on the basis of type, deployment mode, application, and end-use. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Business intelligence and Data analytics solutions
  • Clinical risk management solutions
  • Physician quality reporting solutions
  • Provider performance improvement solutions

Application

  • Data Management
  • Risk Management
  • Others

Deployment Mode

  • Cloud-based
  • On-premises
  • Web Based

End-Use

  • Hospitals
  • Ambulatory surgery centres
  • Nursing homes
  • Others

 Healthcare Quality Management Software Market Regional Analysis/Insights

The healthcare quality management software market is analysed and market size insights and trends are provided by country, type, deployment mode, application, and end-use as referenced above.

The countries covered in the healthcare quality management software market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, and Rest of Middle East and Africa.

North America is expected to dominate the market due tp growing product launches by the leading players and increasing efforts by CMS to shift toward value-based care have resulted in greater acceptance of these solutions.

Asia-Pacific is expected to witness significant growth due to the growing number of regional hospitals and rising healthcare spending. Increasing adoption of IT solutions among regional hospitals and improving focus on providing quality care services are favoring the market growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

 Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The healthcare quality management software market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the market the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the market.

Competitive Landscape and  Healthcare Quality Management Software Market Share Analysis

The healthcare quality management software market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the Healthcare Quality Management Software Market are:

  • Intelex Technologies (Canada)
  • Okkala Solutions Private Limited (India)
  • Premier, Inc. (U.S.)
  • Qualityze Inc. (U.S.)
  • Title21 Software, Inc. (U.S.)
  • OdiTek Solutions – (India)
  • Ideagen (U.K.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Healthcare Quality Management Software Market size will be worth USD 4.59 billion by 2031.
The Healthcare Quality Management Software Market growth rate will be 13.24% by 2031.
The Increasing Emphasis on Patient Safety and Regulatory Compliance are the growth drivers of the Healthcare Quality Management Software Market.
The type, deployment mode, application, and end-use are the factors on which the Healthcare Quality Management Software Market research is based.
The major companies in the Healthcare Quality Management Software Market are Intelex Technologies (Canada), Okkala Solutions Private Limited (India), , Premier, Inc.(U.S), Qualityze Inc. (U.S.), Title21 Software, Inc. (U.S.), OdiTek Solutions(India), Ideagen (U.K.).
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