Healthcare Quality Management Software Market Poised for Growth, Expected to Reach $2.59 Billion by 2028
Healthcare Quality Management Software Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- The healthcare quality management software market, vital for enhancing patient outcomes and regulatory compliance, has seen rapid growth. From $1.34 billion in 2023, it is expected to reach $1.53 billion in 2024, growing at a CAGR of 14.5%. It will grow to $2.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. This growth is driven by factors such as the rising prevalence of chronic diseases and aging populations, improvements in healthcare infrastructure, and governmental initiatives.
Medication Errors Propel Market Growth
The higher prevalence of medication errors is a significant driver for the healthcare quality management software market. These errors, which can lead to patient harm, underscore the need for robust software solutions that track and analyze medication-related incidents comprehensively. For instance, according to Nationwide Children’s Hospital, the incidence of medication errors related to ADHD treatments surged significantly in recent years, emphasizing the critical role of quality management software in enhancing patient safety.
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Key Players and Market Trends
Major companies like International Business Machines Corporation and Oracle Cerner are innovating with specialized quality management systems (QMS) to streamline compliance and improve patient care. For example, Palantir Technologies Inc. launched a QMS designed to meet GxP requirements and enhance clinical data analysis capabilities.
In a strategic move, Vizient Inc. expanded its portfolio to include advanced risk management solutions, further solidifying its position in the market.
Segments
• Type: Business Intelligence And Data Analytics Solutions, Clinical Risk Management Solutions, Physician Quality Reporting Solutions, Provider Performance Improvement Solutions
• Deployment Mode: Cloud-Based, On-Premises, Web-Based
• Application: Data Management, Risk Management, Other Application
• End-Use: Hospitals, Ambulatory Surgery Centers, Nursing Homes, Other End-Uses
Geographical Insights: Asia-Pacific Leading the Market
North America dominated the healthcare quality management software market in 2023, while Asia-Pacific is anticipated to exhibit the highest growth rate during the forecast period. Detailed regional dynamics and growth opportunities are covered comprehensively in the report.
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Healthcare Quality Management Software Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Healthcare Quality Management Software Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on healthcare quality management software market size, healthcare quality management software market drivers and trends, healthcare quality management software market major players, competitors' revenues, market positioning, and market growth across geographies. The healthcare quality management software market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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