The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm),Medical Terminology Software Marketcomprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Medical Terminology Software Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report,Medical Terminology Software Marketsize was valued at aroundUSD 1.3 billion in 2023& is estimated to grow at a CAGR of around 17.44% during the forecast period, i.e., 2024-30. The market size of Global Medical Terminology Software is expected to reachUSD 4.7 billion by 2030. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Medical Terminology Software MarketSegmentation?
The report has segmented the market into the following categories:
By Product and Services
– Services- Market Size & Forecast 2019-2030, USD Million
– Platforms- Market Size & Forecast 2019-2030, USD Million
By Application
– Data Aggregation – Market Size & Forecast 2019-2030, USD Million
– Reimbursement- Market Size & Forecast 2019-2030, USD Million
– Public Health Surveillance- Market Size & Forecast 2019-2030, USD Million
– Data Integration- Market Size & Forecast 2019-2030, USD Million
– Decision Support- Market Size & Forecast 2019-2030, USD Million
– Clinical Trials- Market Size & Forecast 2019-2030, USD Million
– Quality Reporting- Market Size & Forecast 2019-2030, USD Million
– Clinical Guidelines- Market Size & Forecast 2019-2030, USD Million
By End-User
– Healthcare Providers- Market Size & Forecast 2019-2030, USD Million
– Healthcare Payers- Market Size & Forecast 2019-2030, USD Million
– Healthcare IT Vendors- Market Size & Forecast 2019-2030, USD Million
– Others (Pharmaceutical Companies, Medical Students, etc.)- Market Size & Forecast 2019-2030, USD Million
By Region
– North America
– South America
– Europe
– The Middle East & Africa
– Asia-Pacific
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Key Factor Driver Medical Terminology Software Industry Growth by 2030
Increasing Necessity to Reduce Medical Errors to Improve Patient Lives –The market growth is due to the occurrence of medical errors across various hospitals worldwide due to poor handling or mismanagement of patient healthcare data. This directly affects the lives of patients, causing delayed diagnosis, misdiagnosis, patient misidentification, etc. For instance, the World Health Organization stated in 2023 that globally, 1 in every 10 patients is harmed in healthcare, with patient misidentification, diagnostic errors, and others being the sources of patient harm. On average, around 0.8 million Americans are the victims of diagnostic errors every year, and this number is considerably higher in emerging countries. This thereby necessitates the adoption of medical terminology software to organize patient data, minimize medical errors, and store extensive healthcare information, eventually benefiting the patients.
Who are the Key Players Operating in the Medical Terminology SoftwareIndustry?
The top companies of the Medical Terminology Software market ruling the industry are:
- 3M
- Clinical Architecture
- Apelon
- B2i Healthcare
- Intelligent Medical Objects, Inc.
- Wolters Kluwer
- Carecom
- Bitac
- Hivework
- BT Clinical Computing
- Medicomp Systems, Inc.
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the Medical Terminology Software Market?
- What are the key factors that would propel and hinder the industry?
- Which geographical area dominates the Medical Terminology Software industry?
- Which is the Leading segment in the market?
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