The global healthcare quality management market is projected to reach USD 3.31 billion by 2022 from an estimated USD 1.70 billion in 2017, at a CAGR of 14.2%. Factors such as rising healthcare costs, high rate of medication errors, growing need to minimize hospital readmissions, and increase in the volume of unstructured data in the healthcare industry are the major factors driving the growth of the market.
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On the basis of type, the business intelligence & analytic solutions segment is the fastest-growing segment during the forecast period. The soaring operating costs, rising demand for quality healthcare, government measures to promote value-based care, and the increasing number of claims denied from insurers are the major factors driving the growth of the business intelligence & analytic solutions segment.
On the basis of delivery mode, web-& cloud-based solutions are expected to grow at the highest CAGR during the forecast period. The flexibility of working from remote areas, affordability, and automated updating features are some of the factors attributing to the high growth of the web-& cloud-based solutions segment. On the basis of application, the data management segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing volume of disparate data and the mandatory requirement of quality-based reports by regulatory bodies.
Among end users, ambulatory care centers are expected to grow at the highest CAGR during the forecast period. Mandates to comply with quality measures, rising focus on providing quality care through the effective use of technologies, and rising healthcare costs are the major factors supporting the adoption of quality management solutions in ambulatory care centers.
North America is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the growing healthcare IT spending, developed infrastructure, evolving regulations for better healthcare outcomes, and the presence of prominent market players in this region.
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