LONDON, Dec. 27, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the European quality management in healthcare market is expected to grow at a CAGR of 15.2% from 2018 to reach $944.9 million by 2024, driven by the government initiatives to improve patient outcomes & safety, rising unstructured data in healthcare, rising geriatric population & burden of chronic diseases, and improving health IT infrastructure. However, data privacy and security issues, and lack of interoperability are expected to hinder the growth of this market in the region.
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In 2017, business intelligence & analytics segment commanded the largest share of European healthcare quality management market based on software type. This is driven by the ability of analytics to extract meaningful, actionable insights from the wealth of raw information that is the key to improve quality and patient outcomes.
European healthcare quality management market is segmented based on software type, mode of delivery, component, and end user. Hospitals are the leading adopters of quality management solutions and are also expected to witness fastest CAGR during the forecast period, owing to growing HCIT adoption, increasing focus on quality care and patient safety, rising medical error rates, increasing healthcare costs, and government initiatives to follow quality indicators and reporting.
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Geographically, the U.K. commanded the largest share of the European quality management in healthcare market in 2017. This is mainly attributed to government initiatives for eHealth technologies, rising focus on population health management, the need for multi-country integration regarding health information, decreasing margins in the healthcare industry, rapidly increasing aging population and the subsequent rise in incidences of chronic diseases along with growing demand for improving the quality of care and regulatory compliance in the country.
Some of the major players in the European healthcare quality management are 3M Company, CitiusTech Inc., Cognizant Technology Solutions Corporation, Conduent, Inc., Dimensional Insight, Inc., General Dynamics Corporation, McKesson Corporation, MedeAnalytics, Inc., Nuance Communications, Inc., and Truven Health Analytics among several others.
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