The healthcare quality management market has witnessed a healthy growth rate during the last decade and is expected to grow at a CAGR of 14.2% between 2017 and 2022 to reach USD 3.31 Billion by 2022.
Seattle, WA -- (SBWIRE) -- 08/15/2017 -- The report "Healthcare Quality Management Market by Software (Business Analytics, Physician Quality Reporting) Delivery Mode (Cloud, On-Premise) Application (Data Management, Risk Management) End User (Hospital, Ambulatory Center, Payer) - Global Forecast to 2022", The healthcare quality management market has witnessed a healthy growth rate during the last decade and is expected to grow at a CAGR of 14.2% between 2017 and 2022 to reach USD 3.31 Billion by 2022. The growth in this market is mainly attributed to factors such as government mandates for healthcare providers to report quality & improve the performance of care provided, increase in the volume of unstructured data in the healthcare industry, and need to curtail healthcare costs & medical errors in healthcare facilities across the globe.
Browse 140 Market Data Tables and 34 Figures spread through 208 Pages and in-depth TOC on "Healthcare Quality Management Market by Software (Business Analytics, Physician Quality Reporting) Delivery Mode (Cloud, On-Premise) Application (Data Management, Risk Management) End User (Hospital, Ambulatory Center, Payer) - Global Forecast to 2022"
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By type, the business intelligence & analytics solutions segment accounted for the largest share of the market in 2016
On the basis of type, the market is categorized into business intelligence & analytics solutions, physician quality reporting solutions, clinical risk management solutions, and provider performance improvement solutions. In 2016, the business intelligence & analytics solutions segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to soaring operating costs, rising demand for quality healthcare, government measures to promote value-based care, and the increasing number of claims denied from insurers in the healthcare industry.
By delivery mode, web-& cloud-based solutions is expected to grow at the highest CAGR
By delivery mode, the global healthcare quality management market is segmented into web-& cloud-based and on-premise solutions. In 2016, the web-& cloud-based solutions segment dominated the healthcare quality management market. This segment is also expected to grow at the highest CAGR during the forecast period. The flexibility of working from remote areas, affordability, and automated updating features are some of the factors attributing to the high growth of the web- & cloud-based solutions segment.
By application, the data management segment held the largest market share in 2016
On the basis of application, the market is categorized into data management and risk management. In 2016, the data management segment accounted for the largest share of the healthcare quality management market. The large share of this segment is attributed to the increasing volume of disparate data and the requirement of quality-based reports by regulatory bodies. The data management segment is further divided into unstructured data abstraction, data processing & analysis, report generation, and report submission. In 2016, the data processing & analysis segment accounted for the highest share of the data management market. The large share of this segment is mainly attributed to the high volume of unwanted data generation by healthcare facilities and growing need to structure & analyze data in a standardized format for quality reporting.
By end user, hospitals held the largest market share in 2016
Major end users of healthcare quality management include hospitals, ambulatory care centers, payers, ACOs, and other end users (home healthcare agencies, nursing homes, and assisted living facilities). In 2016, the hospitals segment accounted for the largest share of the global healthcare quality management market. Growing HCIT adoption, increasing focus on patient safety, significant growth in healthcare spending, rising medical error rates, increasing healthcare costs, and government mandates to follow quality measures are the major factors supporting the adoption of healthcare quality reporting and management solutions in hospitals.
North America dominated the market in 2016
In 2016, North America dominated the global healthcare quality management market. The large share of this region can be attributed to stringent legislative and accreditation requirements regarding healthcare quality reporting, growing patient data volume, high adoption of healthcare IT technologies (to reduce soaring healthcare costs), regulatory requirements to minimize clinical risk, and the presence of a large number of healthcare IT companies in the region.
Nuance Communications, Inc. (U.S.), Medisolv, Inc. (U.S.), Truven Health Analytics (U.S.), Cerner Corporation (U.S.), Premier, Inc. (U.S.), McKesson Corporation (U.S.), Verscend Technologies, Inc. (U.S.), Dolbey Systems, Inc. (U.S.), QUANTROS, INC. (U.S.), Altegra Health (U.S.), Enli Health Intelligence (U.S.), and CitiusTech Inc. (U.S.) are the major players in the healthcare quality management market.
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