Healthcare Contract Management Software Market | Ongoing Trends and Recent Developments | Major Key Players like Determine Inc. (US), CobbleStone Software (US), Concord (US)

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.

Recent Developments in Healthcare Contract Management Software Market:

# In October 2018, Icertis opened two new offices in Sydney and Singapore to meet the rising market demand.
In February 2018, Cobblestone Software launched a new mobile contract management software app for Android and Apple iOS devices.

# In October 2018, Contract Logix launched the Express Contract Management Software and Premium Contract Lifecycle Management.

# In December 2018, Determine Inc. entered into an agreement with Axbility Consulting (US) that provided greater opportunities to Determine.

# In March 2017, nThrive Inc. acquired e4e Healthcare Services to expand its service offerings.

Key questions addressed by the report:

# Where will all these developments take the industry in the mid-to-long term?
# What are the major end users and the benefits they avail by implementing healthcare contract management software?
# What are the trends going on in the healthcare contract management software market?
# What are the major market dynamics and their impact on market growth?
# What is the global scenario of the healthcare contract management software market?

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Factors Influencing Global Industry Growth:-

The growing need to reduce operational costs (while increasing the operational efficiency of healthcare organizations) and the growing need to maintain compliance with regulatory mandates are key drivers of this market.

On the other hand, the dearth of in-house IT expertise and the reluctance of healthcare providers to adopt new methods of contract management are expected to restrain the growth of the healthcare contract management software market to a certain extent during the forecast period.

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Key Market Opportunities:
# Declining Reimbursements and Competitive Rivalry among Healthcare Payers

Key Challenges:
# Security Concerns
# Dearth of Skilled IT Professionals

Industry’s Revenue Growth Expectations:

The healthcare contract management software market is projected to reach USD 1,763 million by 2024 from USD 755 million in 2019, at a CAGR of 18.5% during the forecast period.

Geographical Growth Scenario:

“North America to hold the largest regional market share in 2019.”

North America is expected to account for the largest share of the healthcare contract management software market in 2019, followed by Europe. The large share of North America can be attributed to the favorable regulations (such as the Meaningful Use and Health Insurance Portability & Accountability Act) combined with the large number of hospitals and the presence of a number of private insurance players. In addition, well-established government payers are further supporting the growth of this market.

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Leading Healthcare Contract Management Software Market Players:

# Determine Inc. (US)
# CobbleStone Software (US)
# Concord (US)
# Contract Logix LLC (US)
# Icertis (US)
# Apttus Corporation (US) and many more…

Key players are focusing on increasing their presence in this high-growth market through both organic as well as inorganic growth strategies, such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions.

Due to the intense competition in this market, major market players are increasingly focusing on expanding their geographic presence in high-growth emerging markets and strengthening their competitiveness in the market by acquiring smaller players with desired manufacturing capabilities or geographic presence.

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