Pune, March 09, 2023 (GLOBE NEWSWIRE) -- The Healthcare Quality Management Market was valued at USD 3.45 billion in 2022 and is predicted to grow at a CAGR of 14.8% during the forecast period 2023-2030, ultimately reaching USD 10.42 billion by 2030, as reported by SNS Insider.
Market Overview:
Healthcare quality management is an essential aspect of the healthcare industry that involves ensuring that patients receive high-quality care that is safe, effective, and efficient. Quality management in healthcare involves the use of various tools and techniques to monitor, evaluate, and improve the quality of care provided to patients. Evidence-based practices are interventions and treatments that are supported by scientific research and have been shown to be effective in improving patient outcomes.
Market Analysis:
The growth of the healthcare quality management market is driven by the increase in the volume of unstructured data in healthcare. This includes patient data, medical records, and other healthcare-related information that is generated every day. Moreover, medical errors have also been on the rise, leading to adverse outcomes for patients. This has resulted in an increased demand for quality management solutions that can help in reducing medical errors and improving patient safety.
Key Company Profiles Listed in this Report Are:
- Altegra Health, Inc.
- CitiusTech Inc.
- Dolbey Systems, Inc.
- Cerner Corp.
- McKesson Corp.
- Nuance Communications, Inc.
- Medisolv, Inc.
- Premier, Inc.
- Quantros, Inc.
- Truven Health Analytics
- Surescripts, LLC.
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Impact of Recession on the Healthcare Quality Management Market:
The impact of a recession on the target market is complex and multifaceted. While there may be some short-term negative effects, the long-term outlook remains positive, as the importance of quality management in healthcare continues to be recognized and valued.
Key Regional Development:
North America is the dominant region for the Healthcare Quality Management Market. Factors like Government mandates for healthcare providers to report quality and improve the performance of care provided, increase in the volume of unstructured data in the healthcare industry, an increase in healthcare expenditure, a rapid increase in the aging population, a high rate of medication errors, and increased funding by government agencies are driving the market growth in North America.
Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.45 Billion |
| Market Size by 2030 | US$ 10.42 Billion |
| CAGR | CAGR of 14.8% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segments Coverage | • By Software Type (Business Intelligence & Analytics Solutions, Physician Quality Reporting Solutions, Clinical Risk Management Solutions, Provider Performance Improvement Solutions) • By Delivery Mode (Web-& Cloud-based Solutions, On-premise Solutions) • By Application (Data Management, Unstructured Data Abstraction, Data Processing & Analysis, Report Generation, Report Submission, Risk Management) • By End User (Hospitals, Ambulatory Care Centers, Payer, ACOs) |
| Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Key Takeaway from Healthcare Quality Management Market Study
- The healthcare industry has been leveraging the power of business intelligence (BI) to unlock valuable insights, enhance revenue, and promote patient safety. With the increasing demand for quality healthcare services, BI has become an essential tool for healthcare organizations to streamline their operations.
- The study highlighted the importance of collaboration between healthcare providers, patients, and other stakeholders in driving quality improvements. This includes partnerships between healthcare providers and technology companies,
- In recent years, the cost of healthcare services has been on the rise due to the emergence of new and advanced technologies. This trend is affecting the performance of healthcare providers, especially in emerging and underdeveloped countries.
Recent Developments Related to Healthcare Quality Management Market
- InformedDNA®, a prominent company specializing in applied genomics solutions, has recently revealed its plans to expand its services to provide greater access to genomically guided healthcare for patients, healthcare providers, and health plans. The company aims to build upon its existing expertise in genomics care delivery and benefits management to create a scalable set of solutions that can be implemented across a wider range of healthcare systems.
- Kitea Health, a New Zealand-based medtech company, has recently raised NZ$6 million in funding for its innovative brain implant monitor. The device is designed to remotely monitor the brain activity of patients with implanted devices, such as deep brain stimulators or cochlear implants.
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