Transparency Market Research
Quality management is a practice adopted by organizations for ensuring their long-term success by meeting customer expectations. Quality management must be integrated, customer oriented, process oriented. In addition, every employee in the organization should work toward a common goal in order to obtain the highest level of quality management. The organization must focus on continual process improvement so as to remain effectual and competitive in the market.
As in other sectors, quality management has become a priority concern in the health care industry also. Most of the health care organizations currently prefer software-based approach of quality management to the manual approach. Health care quality management software reduces the engagement of manpower and time, decreases the risk of errors, and derives approximate results.
The global health care quality management software market is primarily driven by increasing investment in research and development (R&D) in the health care industry, improved management practices, and the rising trend of big data among health care companies. However, lack of awareness of quality management software among health care companies, shortage of skilled personnel for operating the software, stringent regulatory conditions, high price of the product, risks of the software being hacked, etc. are anticipated to restrain the growth of the health care quality management software market in the next few years.
Nevertheless, mergers and acquisitions among the major players, technological advancements, and increasing investment in R&D by the leading players for continuous upgrade of the quality management software are expected to create growth opportunities for the global health care quality management software market during the forecast period.
Based on application, the global health care quality management software market can be segmented into data management and risk management. In terms of type of data management, the market can be classified into data abstraction, data analysis, and report generation and submission. On the basis of delivery mode, the global health care quality management software market can be categorized into on-premise software and cloud-based software.
The global health care quality management software market can be divided into public, private, and hybrid cloud, in terms of type of cloud-computing technology. By end-user, the market can be bifurcated into hospitals, independent clinics, payers, and others.
Geographically, the global health care quality management software market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Investment in health care research and development had increased by almost 20% between 2013 and 2017 in the U.S. Rise in health care research and development in the U.S. is the reflection of a well-established health care market in the country.
North America accounted for the leading share of the health care quality management software market in 2017. The market in North America is anticipated to expand at a moderate rate during the forecast period owing to continuous research and development activities, well-established health care industry, technological progress, and availability of skilled professionals in quality management in the region. Europe held the second dominant share of the global health care quality management software market in 2017 due to well-developed health care infrastructure in the region, technological advancement, and significant investment into health care research and development in Western Europe.
Asia Pacific constituted the next leading share of the health care quality management software market in 2017. The market in the region is anticipated to expand at a significant rate during the forecast period due to the emerging trend of big data analysis among companies and developing health care infrastructure in the region. However, lack of awareness regarding the health care quality management software, high cost of the product, and shortage of skilled professionals are anticipated to hinder the growth of the health care quality management software market in Latin America and Middle East & Africa region during the forecast period.
Key companies operating in the global health care quality management software market include Nuance Communications, Inc., Truven Health Analytics, Quantros, Inc., Medisolv, Inc., McKesson Corporation, Cerner Corporation, Verscend Technologies, Inc., Dolbey Systems, Inc., and Altegra Health.
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