Rise in Medical Errors is Expected to Boost the Growth of the Global Healthcare Quality Management Market at a CAGR of 13.20% During the Forecast Period of 2023 to 2030

Pune, India, November 2022, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Healthcare Quality Management Market.

Market Highlights

The Healthcare Quality Management Market is expected to reach USD 4.8 Billion by 2030 at 5.20% CAGR during the forecast period 2023 -2030.

The healthcare quality management process involves a systematic evaluation and improvement of the products and services to achieve better quality. Healthcare quality management is related to those who manage the delivery of healthcare services. It seeks to improve the effectiveness of treatment and increase patient satisfaction with the service. It comprises of measurement, assessment, and improvement steps.

Segment Analysis

Software type, mode of deployment, application, and end-user has segmented the global healthcare quality management market.

The market, based on software type, has been bifurcated into business intelligence and analytics solutions, physician quality reporting solutions, clinical risk management solutions, provider performance improvement solutions, and others. The market, based on mode of deployment, has been segregated into web/cloud-based, on-premise. The market, based on application, has been segregated into data management, risk management. The market, based on end-user, has been segregated into hospitals, ambulatory care centers, payers and others.

Regional Analysis

The Global Healthcare Quality Management Market, based on region, has been divided into the Americas, Europe, Asia-Pacific and Middle East & Africa.

The Americas led the market and accounted for the largest share in 2018, owing to increasing healthcare spending and healthcare IT adoption. According to the Centers for Medicare and Medicaid Services, the US healthcare outlay grew 3.9% in 2017, reaching USD 3.5 Trillion or USD 10,739 per person. These conditions are expected to support market growth in the Americas. Moreover, improving healthcare IT infrastructure is likely to support market growth in this region. This quality management technology allows healthcare organizations to strengthen their focus on patients and create new quality management services for the hospital and patients as well. Thus, this is driving the market growth in this region.

Europe accounts for the second-largest share in the Global Healthcare Quality Management Market. The European Union (EU) estimated that around 850,000 medical errors were recorded in hospitalizations. Moreover, the rising pressure to reduce healthcare costs, rapidly increasing technological advancements, and better product and service availability in the region is expected to have a positive impact on the healthcare quality management market in Europe

Asia-Pacific is estimated to be the fastest-growing market during the forecast period due to continuous healthcare developments in developing countries such as India and China. The market in Asia-Pacific is expected to register a significant growth rate during the forecast period owing to the developing economies, advancements in the IT sector, and rising instances of medical error. These factors are expected to propel the market growth during the forecast period.

The Middle East & Africa healthcare quality management market is segmented into two major regions, namely the Middle East and Africa. Factors such as advanced healthcare infrastructure increased healthcare expenditure and growing per capita disposable incomes of the people in these countries are contributing to the large share of the market in this region. Africa is the least developed region with limited healthcare resources and facilities for the people. Hence, the market is expected to remain stable in this region.

Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Healthcare Quality Management Market Research Report

Market Players

MRFR recognizes the following companies as the key players in the Global Healthcare Quality Management Market— Cerner Corporation (US), Dolbey Systems (US), Enli Health Intelligence (US), Cotiviti Holdings, Inc. (US), Mckesson Corporation (US), Medisolv Inc (US), Citiustech Inc. (US), Premier, Inc (US), Quantros Inc (US), Truven Health Analytics (US), Nuance Communications (US).

Key Findings of the Study

• The Global Healthcare Quality Management Market is estimated to grow at USD 4,602.0 Million by 2025 at a CAGR of 13.40% during the assessment period

• The Americas accounted for the largest share of the Global Healthcare Quality Management Market due to the increasing healthcare spending and healthcare IT adoption.

• Based on the software, the business intelligence and analytics solutions segment accounted for the largest market share of 48% in 2018.

• Based on the mode of deployment, the web/cloud-based segment accounted for the larger market share of 13% in 2018.

• Based on the application, the data management segment accounted for the larger market share of 89% in 2018.

• On the basis of end-user, the hospital's segment accounted for the largest market share of 27% in 2018.