The medical terminology software market is projected to reach US$ 1,786 million by 2027 from US$ 707 million in 2019, at a CAGR of +21% during the forecast period.
Medical terminology can be defined as a language that is used in order to precisely describe the human body including its components, processes, conditions affecting it, and procedures performed upon it. Medical terminology is used in the field of medicine and its software is used in order to aid the bridging of the gap between clinical terminology and general language. Medical terminology software market simplifies patient documentation and facilitates the capture of clinical information.
The growth of this market is driven by factors such as the rising focus on minimizing medical errors, government initiatives for HCIT adoption, and disparity and fragmentation in the terminology content of healthcare organizations. The increasing need to maintain data integrity is expected to provide further growth opportunities for market players in the coming years. However, the reluctance to use terminology software over conventional practices will pose a major challenge to the growth of the medical terminology software market during the forecast period.
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Top Key Players Covered:
Wolters Kluwer (Netherlands), Intelligent Medical Objects (US), Apelon (US), Clinical Architecture (US), 3M (US), CareCom (Denmark), Bitac (Spain), B2i Healthcare (Hungary), BT Clinical Computing (Belgium), and HiveWorx (Ireland).
The report analyzes factors affecting medical terminology software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the medical terminology software market in these regions.
Global Medical Terminology Software Market, By Application
- Data Aggregation
- Decision Support
- Clinical Trials
- Quality Reporting
- Clinical Guidelines
- Public Health Surveillance
- Data Integration
Global Medical Terminology Software Market, By End User
- Healthcare Providers
- Healthcare Payers
- Healthcare It Vendors
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The medical terminology software market report delivers full information about the latest developing trends and technologies including the future growth, sales figures, Type and Application providing profitable strategies of leading companies. This report provides details information about business performance, feature, objective, revenue, sales drivers and supply chain analysis. It’s also cover important key points like market forecast and future plans of the medical terminology software market. The rising focus on minimizing medical errors, government initiatives for HCIT adoption, and disparity and fragmentation in the terminology content of healthcare organizations are anticipated to fuel the growth of the Medical Terminology Software Market. On the other hand, the restricted access to systems in emerging countries is expected to hamper the growth of the market.
In conclusion, global Medical Terminology Software market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the business competitors.
In This Study, The Years Considered To Estimate The Size Of Medical Terminology Software Market Are As Follows:
- History Year: 2015-2018
- Base Year: 2018
- Estimated Year: 2019
- Forecast Year 2019 to 2027
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