Global Medical Terminology Software Market Size study, by Product & Services (Services, Platform), by Application (Data Aggregation, Reimbursement, Public Health Surveillance, Data Integration, Clinical Trials, Others), by End-User (Healthcare Providers, Healthcare Payers, Healthcare IT Vendors, Others) and Regional Forecasts 2020-2026
- Report Code : BIZ1731526
- Published On: May, 2020
- Category : Healthcare & Pharma
- Pages : 200
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Global Medical Terminology Software Market is valued approximately USD 707 million in 2019 and is anticipated to grow with a healthy growth rate of more than 20.5% over the forecast period 2020-2026. Medical terminology can be referred as a language which is used to accurately describe the human body structure including its processes, components, provisions concerning it, and procedures operated upon it. Medical terminology is used in the area of medicine and its software is utilized to help the bridging of gap among the clinical terminology and general language. Medical terminology software is used to regulate patient data and manage the collection of large amounts of healthcare data. The software also deals with the rising need to curb medical errors. Thus, rising focus on reducing medical errors & fraud, increasing government initiatives for HCIT (Healthcare Information Technology) adoption and increasing demand for the standardization of patient data are the few factors responsible for high CAGR of the market over the forecast period. According to the survey of the National Health Care Anti-Fraud Association, in 2015 there is 25% increment worldwide in healthcare errors & frauds as compared to 6.9% total since, 2008 and it is expected to reach nearly 52% in 2018. Also, in the United States, the Federal Bureau of Investigation estimated that 3% to 10% of healthcare billings are illegal with the annual expenditure on healthcare each year. This, in turn, is expected to accelerate the demand for Medical Terminology Software, thus contributing to the growth of the global market. However, reluctance to use terminology solutions over conventional practices is one of the prime factors expected to hamper the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Medical Terminology Software market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising adoption of HCIT technologies, increasing regulatory requirements associated to patient safety and the presence of significant number of market players in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to the rise in demand for reducing medical errors because of the incorrect interpretation of patient data in the countries like China and India.
Major market player included in this report are:
Wolters Kluwer
3M
Intelligent Medical Objects
Clinical Architecture
Apelon
Carecom
Bitac
B2i Healthcare
BT Clinical Computing
HiveWorx
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product & Services:
Services
Platform
By Application:
Data Aggregation
Reimbursement
Public Health Surveillance
Data Integration
Clinical Trials
Others
By End-User:
Healthcare Providers
Healthcare Payers
Healthcare IT Vendors
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Medical Terminology Software Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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With tables and figures helping analyze worldwide Global Medical Terminology Software market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Million)
1.2.1. Medical Terminology Software Market, by Region, 2018-2026 (USD Million)
1.2.2. Medical Terminology Software Market, by Product & Services, 2018-2026 (USD Million)
1.2.3. Medical Terminology Software Market, by Application, 2018-2026 (USD Million)
1.2.4. Medical Terminology Software Market, by End-User, 2018-2026 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Medical Terminology Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Medical Terminology Software Market Dynamics
3.1. Medical Terminology Software Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Medical Terminology Software Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Medical Terminology Software Market, by Product & Services
5.1. Market Snapshot
5.2. Global Medical Terminology Software Market by Product & Services, Performance - Potential Analysis
5.3. Global Medical Terminology Software Market Estimates & Forecasts by Product & Services 2016-2026 (USD Million)
5.4. Medical Terminology Software Market, Sub Segment Analysis
5.4.1. Services
5.4.2. Platform
Chapter 6. Global Medical Terminology Software Market, by Application
6.1. Market Snapshot
6.2. Global Medical Terminology Software Market by Application, Performance - Potential Analysis
6.3. Global Medical Terminology Software Market Estimates & Forecasts by Application 2016-2026 (USD Million)
6.4. Medical Terminology Software Market, Sub Segment Analysis
6.4.1. Data Aggregation
6.4.2. Reimbursement
6.4.3. Public Health Surveillance
6.4.4. Data Integration
6.4.5. Clinical Trials
6.4.6. Others
Chapter 7. Global Medical Terminology Software Market, by End-User
7.1. Market Snapshot
7.2. Global Medical Terminology Software Market by End-User, Performance - Potential Analysis
7.3. Global Medical Terminology Software Market Estimates & Forecasts by End-User 2016-2026 (USD Million)
7.4. Medical Terminology Software Market, Sub Segment Analysis
7.4.1. Healthcare Providers
7.4.2. Healthcare Payers
7.4.3. Healthcare IT Vendors
7.4.4. Others
Chapter 8. Global Medical Terminology Software Market, Regional Analysis
8.1. Medical Terminology Software Market, Regional Market Snapshot
8.2. North America Medical Terminology Software Market
8.2.1. U.S. Medical Terminology Software Market
8.2.1.1. Product & Services breakdown estimates & forecasts, 2016-2026
8.2.1.2. Application breakdown estimates & forecasts, 2016-2026
8.2.1.3. End-User breakdown estimates & forecasts, 2016-2026
8.2.2. Canada Medical Terminology Software Market
8.3. Europe Medical Terminology Software Market Snapshot
8.3.1. U.K. Medical Terminology Software Market
8.3.2. Germany Medical Terminology Software Market
8.3.3. Rest of Europe Medical Terminology Software Market
8.4. Asia-Pacific Medical Terminology Software Market Snapshot
8.4.1. China Medical Terminology Software Market
8.4.2. India Medical Terminology Software Market
8.4.3. Japan Medical Terminology Software Market
8.4.4. Rest of Asia Pacific Medical Terminology Software Market
8.5. Latin America Medical Terminology Software Market Snapshot
8.5.1. Brazil Medical Terminology Software Market
8.5.2. Mexico Medical Terminology Software Market
8.6. Rest of The World Medical Terminology Software Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Wolters Kluwer
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. 3M
9.2.3. Intelligent Medical Objects
9.2.4. Clinical Architecture
9.2.5. Apelon
9.2.6. Carecom
9.2.7. Bitac
9.2.8. B2i Healthcare
9.2.9. BT Clinical Computing
9.2.10. HiveWorx
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
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The Global Medical Terminology Software Market has been segregated into various crucial divisions including applications, types, and regions. Each market segment is intensively studied in the report contemplating its market acceptance, worthiness, demand, and growth prospects. The segmentation analysis will help the client to customize their marketing approach to have a better command of each segment and to identify the most prospective customer base.
Report Objectives / Segmentation Covered :
By Companies / players:
By Regions:
By Type:
By Application:
Frequently asked questions(FAQ's):
New players are entering the Global Medical Terminology Software Market, while established companies are changing their business models and strategies. This pattern is likely to continue for the foreseeable future.
The Global Medical Terminology Software Market is expected to grow at a moderate CAGR during the forecast period of 2024 to 2029.
The convergence of various vital triggers, including a major slowdown in Western economies, and some critical points in globalization, leads to the transformation of business in the Global Medical Terminology Software Market across the extensive corporate landscape.
Companies in the Global Medical Terminology Software Industry are thoroughly researched and profiled in order to determine why certain trends will have a significant impact and how they will be factored into the Global Medical Terminology Software Market's trajectory and future outlook.
