The Healthcare Compliance Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Healthcare Compliance Software Global Market Report 2024, The healthcare compliance software market size has grown rapidly in recent years. It will grow from $2.48 billion in 2023 to $2.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to increasing regulatory compliance requirements, focus on patient safety and quality improvement, rise in healthcare data volumes, integration with electronic health records (ehrs), advancements in healthcare analytics.
The healthcare compliance software market size is expected to see rapid growth in the next few years. It will grow to $4.55 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to advancements in artificial intelligence (ai) and machine learning (ml), remote patient monitoring and telehealth integration, global health crisis response, patient-reported outcomes integration, population health management strategies. Major trends in the forecast period include risk management solutions, interoperability and integration, patient-centric quality improvement, automated reporting and analytics, mobile health (mhealth) integration.
The growing emphasis on patient-centered care is expected to fuel the growth of the healthcare compliance software market going forward. Patient-centered care is an approach that prioritizes the individual patient’s needs, preferences, and values in healthcare decision-making. Patient-centered care uses healthcare compliance software to ensure adherence to regulatory standards, streamline administrative processes, and enhance healthcare quality. For instance, in February 2022, according to Dove Press Ltd., a UK-based publisher of open-access peer-reviewed scientific and medical journals, in a survey of 618 patients in Northeast Ethiopia’s South Wollo Public Hospitals, patient-centered care prevailed among adult admitted patients with a significant majority of 60.9% experiencing care tailored to their needs. Further, around 65% of patients reported receiving personalized care aligned with their preferences. Therefore, the growing emphasis on patient-centered care is driving the growth of the healthcare compliance software market.
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The healthcare compliance software market covered in this report is segmented –
1) Healthcare Compliance Software Market By Product Type: On-Premise, Cloud-Based
2) Healthcare Compliance Software Market By Category: Policy And Procedure Management, Auditing Tools, Training Management And Tracking, Medical Billing And Coding, License, Certificate, And Contract Tracking, Incident Management, Accreditation Management
3) Healthcare Compliance Software Market By End-User: Hospitals, Specialty Clinics, Other End Users
Top Major Players
Johnson & Johnson
Medtronic PLC
Siemens Healthineers AG
Stryker Corporation
GE Healthcare ies
3M Company
Major companies operating in the healthcare comfpliance software market are focusing on technological advancements, such as healthcare compliance platform, to make regulatory healthcare compliance more effective and efficient. A healthcare compliance platform is a comprehensive software solution designed to help healthcare organizations manage and maintain compliance. For instance, in October 2023, Compliancy Group, a US-based provider of cloud-based software, launched he Guard. It’s a centralized hub for managing all aspects of compliance, from risk assessment and policy management to audit readiness and training. The Guard is a comprehensive, cloud-based software platform designed to help healthcare organizations achieve and maintain compliance with various regulations, primarily HIPAA, SOC 2, and OSHA.
The healthcare compliance software market report table of contents includes:
1. Executive Summary
2. Healthcare Compliance Software Market Characteristics
3. Healthcare Compliance Software Market Trends And Strategies
4. Healthcare Compliance Software Market – Macro Economic Scenario
5. Global Healthcare Compliance Software Market Size and Growth
…..
32. Global Healthcare Compliance Software Market Competitive Benchmarking
33. Global Healthcare Compliance Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Healthcare Compliance Software Market
35. Healthcare Compliance Software Market Future Outlook and Potential Analysis
36. Appendix
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