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Healthcare Quality Management Software Market: In-Depth Industry Analysis of Market Size, Trends, and Growth Factors. Explore Technological Innovations and Future Forecasts Shaping the Market Towards 2033
Healthcare Quality Management Software Market
As per the report, the healthcare quality management software market size has grown rapidly in recent years. It will grow from $1.34 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The healthcare quality management software market size is expected to see rapid growth in the next few years. It will grow to $2.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
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The Surge In Medication Errors Propels Growth Of Healthcare Quality Management Software Market
The higher prevalence of medication errors is expected to propel the growth of the healthcare quality management software market going forward. Medication errors refer to preventable mistakes or incidents that occur during any stage of the medication use process, from prescribing and dispensing to administration and monitoring, which lead to inappropriate medication use or patient harm. Healthcare quality management software enables healthcare organizations to track and report medication errors comprehensively and allows for the systematic collection and analysis of data related to medication errors, helping organizations identify patterns, root causes, and trends. For instance, in September 2023, according to a report published by Nationwide Children's Hospital, a US-based academic pediatric medical center, the annual incidence of medication errors related to attention-deficit or hyperactivity disorder (ADHD) treatments surged by a total of 5,235 medication errors were documented, translating to one error occurring for a child every 100 minutes in 2022. Therefore, the higher prevalence of medication errors drives the growth of the healthcare quality management software market.
Development Of Specialized Quality Management Systems By Major Companies
Major companies operating in the healthcare quality management software market are developing innovative platforms such as specialized quality management systems (QMS) that help streamline compliance with regulatory standards and facilitate data-driven decision-making for improved patient care. A specialized Quality Management System (QMS) is a software solution designed to facilitate and streamline quality control and regulatory compliance processes within healthcare organizations. For instance, in January 2023, Palantir Technologies Inc., a US-based software company that develops data fusion platforms, launched a specialized quality management system (QMS). This system is designed to help life sciences customers with their most critical workflows, including end-to-end analysis of clinical data. It helps life sciences organizations meet GxP (good practices) requirements, which are critical for ensuring the safety, quality, and compliance of pharmaceuticals and healthcare products. It integrates with the existing foundry platform, a tool for data management and analysis. The integration enhances data-driven decision-making capabilities.
The healthcare quality management software market covered in this report is segmented -
1) By Type: Business Intelligence And Data Analytics Solutions, Clinical Risk Management Solutions, Physician Quality Reporting Solutions, Provider Performance Improvement Solutions
2) By Deployment Mode: Cloud-Based, On-Premises, Web-Based
3) By Application: Data Management, Risk Management, Other Application
4) By End-Use: Hospitals, Ambulatory Surgery Centers, Nursing Homes, Other End-Uses
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Major companies operating in the healthcare quality management software market report are International Business Machines Corporation, Oracle Cerner, Wolters Kluwer Health Inc., Premier Inc., Nuance Communication Inc., Vizient Inc., Altegra Health Inc., Symplr, Ideagen Ltd., Intelex Technologies Inc., Iatric Systems Inc., OdiTek Solutions Private Limited, Medisolv Inc., Dolbey Systems Inc., Qualityze Inc., MetaStar Inc., Datix Inc., Mirth Corporation, MorCare Ltd., Quantros Inc., Effivity Technologies Pvt. Ltd., Orcanos Software, Karminn Consultancy Network Pvt. Ltd., Title21 Health Solutions, Radicalogic Technologies Inc
Contents of the report:
1. Executive Summary
2. Healthcare Quality Management Software Market Report Structure
3. Healthcare Quality Management Software Market Trends And Strategies
4. Healthcare Quality Management Software Market - Macro Economic Scenario
5. Healthcare Quality Management Software Market Size And Growth
…..
27. Healthcare Quality Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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