The Healthcare Quality Management 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 Quality Management Global Market Report 2024, The healthcare quality management market size has grown rapidly in recent years. It will grow from $4.03 billion in 2023 to $4.62 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to patient engagement and satisfaction, quality improvement initiatives, rising healthcare costs, patient-centric care, value-based care initiatives.
The healthcare quality management market size is expected to see rapid growth in the next few years. It will grow to $8.15 billion in 2028 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to emphasis on patient outcomes, regulatory requirements, data-driven decision making, rising healthcare costs, patient engagement and experience.. Major trends in the forecast period include continual quality improvement, digital transformation in healthcare, personalized medicine integration, global health challenges response, cybersecurity measures, population health management.
Rising medical errors are expected to propel the growth of the healthcare quality management market. A medical error refers to a preventable adverse outcome of medical care, whether it is evident or damaging to the patient. Healthcare quality management is used to predict and avoid medication errors to increase the effectiveness of hospitals and healthcare providers. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency that is responsible for international public health, the global cost associated with medical errors has been estimated at around US$42 billion annually. Therefore, rising medical errors are driving the healthcare quality management market.
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The healthcare quality management market covered in this report is segmented –
1) By Software Type: Business Intelligence And Analytics Solutions, Physician Quality Reporting Solutions, Clinical Risk Management Solutions, Provider Performance Improvement Solutions
2) By Mode Of Delivery: Web And Cloud Based Solutions, On-Premise Solutions
3) By Application: Data Management, Risk Management
4) By End-User: Hospitals, Ambulatory Care Centers, Payer, Other End Users
Product innovation is the key trend gaining popularity in the healthcare quality management market. Major companies operating in the healthcare quality management market are focusing on advancing the technology used in healthcare quality management systems. For instance, in November 2021, Crothall Healthcare, a US-based provider of healthcare support services partnered with Intelex a Canada-based software company to launch teamQUEST, a dedicated web-based quality management system platform for healthcare providers powered by Intelex. It provides a unified platform to organize the Quality Management System (QMS), allowing it to respond, develop, and evolve more efficiently over time. teamQUEST also provides consistency in operations, boosting the repetition of a certain procedure. The teamQUEST CAPA module helps discover, anticipate and rectify flaws and nonconformances that impede services from achieving client requirements. This is accomplished by monitoring current or anticipated nonconformances to pinpoint the underlying reasons, start containment, and create a suitable action plan to stop further flaws.
The healthcare quality management market report table of contents includes:
1. Executive Summary
2. Healthcare Quality Management Market Characteristics
3. Healthcare Quality Management Market Trends And Strategies
4. Healthcare Quality Management Market – Macro Economic Scenario
5. Global Healthcare Quality Management Market Size and Growth
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26. South America Healthcare Quality Management Market
27. Brazil Healthcare Quality Management Market
28. Middle East Healthcare Quality Management Market
29. Africa Healthcare Quality Management Market
30. Healthcare Quality Management Market Competitive Landscape And Company Profiles
Top Major Players:
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