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European Quality Management In Healthcare Market By Software (BI, Analytics, Reporting, Performance Improvements), Delivery (Cloud, Web, On Premise), Application (Data, Risk Management) and End User (Hospital, Ambulatory Care, Payor) - Forecast To 2024
Report ID: MRHC - 10484 Pages: 124 Oct-2018 Formats*: PDF Category: Healthcare Delivery: 2 to 4 Hours Download Free Sample ReportIn Europe, the effective use of health IT and quality management tools is considered one of the most effective strategies for improving the health system performance, care quality and patient satisfaction.
With increasing complexity of health institutions and systems, rising focus on efficiency and effectiveness, the pressure on cost-reduction, government initiatives to improve patient outcomes & safety, rising unstructured data in healthcare, rising geriatric population & burden of chronic diseases, evolving regulatory requirements, and improving health IT infrastructure, the European healthcare quality management market is booming and is expected to grow at a CAGR of 15.2% from 2018 to 2024 to reach $944.9 million by 2024.
Rising Focus on Value-Based Care Model is Catching the Attention!
Value-based care model aims to strengthen the goal of providing patient safety and quality care, improving population health management strategies, and reducing healthcare costs.
Europe is laying the foundation for value-based care in healthcare. European governments have started testing a number of ways of sharing both risks and rewards among payers, healthcare providers, and pharmaceutical or medical-device manufacturers. In addition, several discussions, events, and conferences are being held on value-based care in Europe to check its feasibility, promote its advantages, formulate policies, and discuss the opportunities and challenges.
Though value-based care is a challenging transformational journey, it is rapidly gaining traction across the European region to build more efficient and sustainable health systems. As population health management and quality care is a key element for transition to value-based care, increasing focus on value-based care models will provide growth opportunities to players.
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Business Intelligence and Analytics Software to Witness the Fastest Growth
Business Intelligence and Analytics segment will continue to dominate the healthcare quality management market as it is increasingly in demand by the healthcare organizations to extract meaningful, actionable insights from the wealth of raw information that is the key to improve quality and patient outcomes. With increasing complexity in healthcare data generated by the healthcare systems and dependency on digital technology in the country, business intelligence act as a boon in business operation management in Europe, thereby witnessing the fastest growth in the European market.
Web & Cloud-Based Solutions Dominate the European Quality Management in Healthcare Market
With increasing need for data management, storage, retrieval, and access to data by physicians in healthcare departments, and new approaches to data center infrastructure, cloud computing is growing at a faster pace in the European region. Shifting the approach of critical applications to the cloud rather than opting for traditional on-premise software ownership offers significant benefits such as cost savings, time savings, increased agility, and better quality of service. Moreover, increasing pressure to improve care quality, growing efforts to enhance the patient experience and reduce costs further supports the demand for web & cloud-based solutions in European quality management in the healthcare market.
Data Management to Witness the Fastest Growth Through 2024
With the adoption of EHR, there is an immense increase in the amount of healthcare data generated across the region. The effective management of data helps hospitals to overcome data and storage management challenges such as data silos, errors and information explosion. Thus, increasing volume of disparate data and the requirement of quality-based reports by regulatory bodies offer immense growth opportunities for European quality management in the healthcare market in the near future.
Hospitals are the Leading Adopters of Quality Management Solutions in Europe
With an increase in aging population and rising health care costs in Europe, quality management in healthcare is gaining wide attention. In addition, growing HCIT adoption, increasing focus on quality care and patient safety, significant growth in health care spending and venture capital investments in HCIT, rising medical error rates, increasing healthcare costs, and government initiatives to follow quality measures and reporting are the major factors supporting the adoption of healthcare quality management solutions by the hospitals in Europe.
The U.K. Comprises the Largest Share in European Quality Management in Healthcare Market
The U.K. commanded the largest share of European quality management in the healthcare market in 2017, followed by Germany, and France. The large share of this region is primarily attributed to rising need to curtail growing healthcare costs and improve patient outcomes, stringent legislative and accreditation requirements regarding healthcare quality reporting, shift from fee-for-service to value-based care, growing patient data volume, and high awareness and adoption of healthcare IT technologies in the region.
The report includes competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 3 years (2015-2018). The key players profiled in the European quality management in healthcare market research report 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).
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Published Date: Aug-2024
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Published Date: Jun-2024
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