Medical Terminology Software Market

Medical Terminology Software Market worth $2.5 billion by 2027

The report "Medical Terminology Software Market by Application (Data Aggregation, Reimbursement, Data Integration, Clinical Trials), Products & Services (Services, Platforms), End User (Healthcare Providers, Healthcare Payers, IT Vendors) - Global Forecast to 2027", is projected to reach USD 2.5 billion by 2027 from an estimated USD 1.0 billion in 2022, at a CAGR of 19.3% during the forecast period. Growth in this market is driven by the using consistent, standardized clinical terminology to help medical practitioners access and understand clinical data found in healthcare applications, government initiatives to adopt HCIT solutions, and fragmentation in terms of medical content & infrastructure. However, high cost of infrastructure & maintenance in developing countries are expected to restrain market growth to a certain extent.

Browse 74 market data Tables and 26 Figures spread through 124 Pages and in-depth TOC on "Medical Terminology Software Market by Application (Data Aggregation, Reimbursement, Data Integration, Clinical Trials), Products & Services (Services, Platforms), End User (Healthcare Providers, Healthcare Payers, IT Vendors) - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/medical-terminology-software-market-239939409.html

The quality reporting segment is expected to witness the highest growth rate in the medical terminology software market, by application

Based on application, the quality reporting segment is expected to register the highest CAGR during the forecast period. Factors responsible for the growth of this segment are the benefits offered by the segment such as improved patient safety, improvements in the quality of care, efficient healthcare services & patient outcomes.

By end user, the private payers segment accounted for the largest share of the medical terminology software market, by healthcare payers in 2021.

The private payers segment is estimated to have the largest share by healthcare payers end user of the medical terminology software market. The large share of the segment is attributed to the advantages offered to the private payers such as benefits of normalization through fully integrated medical terminology management solutions to ensure more effective communication, less inconsistency, and more streamlined administrative costs.
North America dominated the medical terminology software market in 2021

North America accounted for the largest share of the medical terminology software market in 2021, followed by Europe and Asia Pacific. The large share of North America in the global market can be attributed to the presence of a strong IT infrastructure in the region, the high adoption rate of HCIT technologies, regulatory requirements regarding patient safety, and the growing demand for accurate data exchanges between healthcare providers & payers to streamline workflows. The presence of major market players in the US and a large number of outpatient healthcare facilities are further contributing to the growth of the market in the region.

Wolters Kluwer N.V. (Netherlands), 3M (US), Intelligent Medical Objects, Inc. (US), Apelon, Inc. (US), Clinical Architecture, LLC (US), CareCom (Denmark), BiTAC (Spain), B2i Healthcare (Hungary), BT Clinical Computing (Belgium), and HiveWorx (Ireland) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.

Don’t miss out on business opportunities in Medical Terminology Software Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Medical Terminology Software Market Size,  Share & Growth Report
Report Code
HIT 6988
PR Published ON
7/21/2022
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Medical Terminology Software Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home