Overview Of The Healthcare Quality Management Market 2023-2032: Growth And Major Players Analysis
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global healthcare quality management market is forecasted to increase from $3.53 billion in 2022 to $4.05 billion in 2023, showing a 14.6% CAGR. By 2027, it is projected to reach $6.87 billion, with a 14.1% CAGR.
North America was the largest region in the healthcare quality management market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Healthcare Quality Management Market Driver
The healthcare quality management market is set to grow due to increasing medical errors. A medical error denotes preventable adverse medical care outcomes, regardless of their apparent impact on patients. Healthcare quality management aids in predicting and preventing medication errors, enhancing hospital and provider efficiency. For instance, in September 2022, the World Health Organization estimated global medical error costs at approximately US$42 billion per year. Consequently, the healthcare quality management market is spurred by rising medical errors.
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Prominent Healthcare Quality Management Market Trend
Healthcare quality management sees a rising trend in product innovation. Leading companies focus on advancing quality management technology in healthcare. For example, in November 2021, Crothall Healthcare, a US-based provider of healthcare support services, partnered with Canada-based software company Intelex to introduce teamQUEST. This web-based quality management platform enhances Quality Management Systems (QMS) organization, efficiency, and consistency. teamQUEST’s CAPA module detects, anticipates, and addresses nonconformities, improving service alignment with client requirements through root cause analysis and action plans.
Healthcare Quality Management Market Prominent Players
Major players in the healthcare quality management market are Altegra Health Inc., Dolbey Systems Inc., Enli Health Intelligence, Citiustech Inc., Mckesson Corporation, Cerner Corporation, Quantros Inc., Verscend Technologies Inc., Truven Health Analytics (A Subsidiary of IBM Watson Health), Medisolv Inc., Premier Inc., Nuance Communications Inc., Cognizant Technology Solutions Corporation, Conduent Inc., and Dimensional Insight Inc.
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Key Healthcare Quality Management Market Segments
The global healthcare quality management market is segmented –
1) By Software Type: Business Intelligence And Analytics Solutions, Physician Quality Reporting Solutions, Clinical Risk Management Solutions, Provider Performance Improvement Solutions
2) By Mode Of Delivery: Web And Cloud Based Solutions, On-Premise Solutions
3) By Application: Data Management, Risk Management
4) By End-User: Hospitals, Ambulatory Care Centers, Payer, Other End Users
The Healthcare Quality Management Global Market Report 2023 provides a comprehensive overview on the healthcare quality management market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the healthcare quality management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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