European Quality Management in Healthcare Market by Software (BI, Analytics, Reporting, Performance Improvements), Delivery (Cloud, Web, on premise), Application (Data, Risk Management) & End User (Hospital, Ambulatory Care, Payor) - Forecast to 2024
European quality management in healthcare market is expected to grow at a CAGR of 15.2% from 2018 to reach $944.9 million by 2024. The factors such as government initiatives to improve patient outcomes & safety, rising unstructured data in healthcare, rising geriatric population & burden of chronic diseases, and improving health IT infrastructure drive the healthcare quality management market in Europe. However, data privacy & confidentiality issues, lack of interoperability, and reluctance to migrate from conventional systems may hinder the growth of healthcare quality management solutions market in Europe to some extent.
Business intelligence and analytics software are widely adopted owing to the ability of analytics to extract meaningful, actionable insights from the wealth of raw information that is the key to improve quality and patient outcomes.
Hospitals commanded the largest share of European quality management in healthcare market in 2017 with growing HCIT adoption, increasing focus on quality care and patient safety, significant growth in healthcare spending and venture capital investments in HCIT, rising medical error rates, increasing healthcare costs, and various government initiatives to follow quality measures and reporting.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the seven major countries in Europe (U.K., Germany, France, Italy, Spain, Benelux, Nordics, and Rest of Europe). The U.K. commanded the largest share of the European quality management in healthcare market in 2017, followed by Germany, and France. The large share of the U.K. is attributed to factors such as government initiatives to improve patient outcomes & safety, rising need to curtail growing healthcare costs and improve patient outcomes, rising unstructured data in healthcare, growing focus on population health management and value-based care model, rising geriatric population & burden of chronic diseases, and advanced health IT infrastructure.
Some of the major players operating in the European healthcare quality management market are 3M Company, CitiusTech Inc., Cognizant Technology Solutions Corporation, Conduent, Inc., Dimensional Insight, Inc., General Dynamics Corporation, McKesson Corporation (Change Healthcare), MedeAnalytics, Inc., Nuance Communications, Inc., and Truven Health Analytics (IBM Corporation), among several others.
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