Medical Terminology Software Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017 To 2021) and Forecast (2022 To 2028)

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Medical Terminology Software Market: By Product (Platforms and Services), By Application (Data Aggregation, Decision Support, Clinical Trials, Clinical Guidelines, Reimbursement, Public Health Surveillance, Quality Reporting, Others), By End User (Healthcare IT Vendors, Healthcare Payers, Healthcare Providers and Other End Users) and Geography

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SKU: N/A Categories: Computing and Technology, ICT

Description
Table Of Content
Company Profile

Report

Description

Medical Terminology Software Market size was valued at USD 849.8 million in 2021 and expected to reach a value of USD 3,080.7 million by 2028, witnessing a CAGR of 20.2% during the forecast period 2022-2028. Some of the key factors fueling the market growth include government initiatives for HCIT acceptance, rising focus on minimizing medical errors and increasing need to create a consistent and comprehensive data source together with transparency in patient care. However, unwillingness to use terminology software over conventional practices is the major factor hindering the market growth. In addition, high growth in emerging economies provides huge growth opportunity for the market. This report studies Global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the global report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global medical terminology software market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).

Key Market Developments:

In March 2022, Clinical Architecture, a leading provider of healthcare interoperability and data quality solutions, has announced the release of newest product offering, SeekDx. It provides a smart, clinician friendly diagnosis search that returns an appropriate ICD-10-CM code and clinically oriented SNOMED CT code that streamlines the documentation of patient diagnoses and health concerns in the inpatient and ambulatory setting.

In June 2018, Tieto and CareCom signed a strategic partnership solving the challenge of semantic interoperability for healthcare IT systems. The agreement is strengthening the cooperation and product offering for CareCom’s terminology platform, HealthTerm.

Medical Terminology Software Market

MARKET SUMMARY

20.2%

Study Period– 2022 – 2028
Base Year– 2021
CAGR– 20.2%
Largest Market– Asia-Pacific
Fastest Growing Market– North-America

Medical Terminology Software Market

The report on global medical terminology software market gives historical, current and future market sizes (US$ Bn) based on product, application, end user and region.
medical terminology software market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key stakeholders of the global medical terminology software market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global medical terminology software products.

Key Players

3M
Intelligent Medical Objects
Clinical Architecture
B2i Healthcare
Bitac

Medical Terminology Software Market Drivers And Restraints

Many medical errors are preventable. But hospitals continue to have trouble with keeping them from harming patients. Thousands of patients die as a result of medical errors. A recent study in BMJ estimates that the deaths of over 250,000 patients were directly caused by a preventable error that affected their care. To make real progress toward reducing errors and never events, facilities must be committed to making significant changes. Medical terminology software are used to regulate patient data and handle the addition of large amounts of healthcare data. The software also deals with the increasing need to control medical errors. The rising need to limit medical errors and the growing demand for the normalisation of patient data along with the accumulation of large amounts of healthcare data is likely to drive the growth of the market.

North-America Got Significant Share

Medical Terminology Software Market

North America accounted for larger revenue share in global medical terminology software market with considerable CAGR. The growth in this region is due to presence of leading market players in the region, growing demand for accurate data exchange between healthcare providers and payers to streamline workflows and increasing regulatory requirements regarding patient safety. Asia Pacific held substantial market share during estimated period owing to improving healthcare infrastructure, growing medical tourism and rising healthcare insurance coverage in the region. China and India are the major contributors for the growth of the market in the region.

Latin-America

North-America

Europe

Asia-Pacific

Middle East

Key

Key Features of the Report

The report provides granular level information about the market size, regional market share, historic market (2017 – 2021) and Forecast (2022 – 2028)
The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
The report tracks recent innovations, key developments and startup’s details that are actively working in the market
The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Key

Medical Terminology Software Market Segmentation

By Product Type

Platforms
Services

By Application

Data Aggregation
Decision Support
Clinical Trials
Clinical Guidelines
Reimbursement
Public Health Surveillance
Quality Reporting
Others

By End User

Healthcare IT Vendors
Healthcare Payers
Healthcare Providers
Other End Users

Location

GEOGRAPHY

Frequently Asked Questions

The medical terminology software market is projected to expand at a CAGR of 20.2% during the forecast period

3M, Intelligent Medical Objects, Clinical Architecture, B2i Healthcare, Bitac

North America is the fastest-growing region for the medical terminology software market

Report

Table Of Content

1. Executive Summary

2. Global Medical Terminology Software Market Introduction

2.1. Global Medical Terminology Software Market – Taxonomy

2.2. Global Medical Terminology Software Market –Definitions

2.2.1. Product and Service

2.2.2. Application

2.2.3. End User

3. Global Medical Terminology Software Market Dynamics

3.1. Drivers

3.2. Restraints

3.3. Opportunities/Unmet Needs of the Market

3.4. Trends

3.5. Global Medical Terminology Software Market Dynamic Factors – Impact Analysis

3.6. Global Medical Terminology Software Market – Competition Landscape

3.7. Epidemiology

4. Global Medical Terminology Software Market Analysis,2017-2021 and Forecast, 2022-2028

4.1. Market Analysis,2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)

4.3. Market Opportunity Analysis

5. Global Medical Terminology Software Market, By Product and Service, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

5.1. Services

5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.1.3. Market Opportunity Analysis

5.2. Platforms

5.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.2.3. Market Opportunity Analysis

6. Global Medical Terminology Software Market Forecast, By Application, 2017-2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)

6.1. Data Aggregation

6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.1.3. Market Opportunity Analysis

6.2. Decision Support

6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.2.3. Market Opportunity Analysis

6.3. Clinical Trials

6.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.3.3. Market Opportunity Analysis

6.4. Clinical Guidelines

6.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.4.3. Market Opportunity Analysis

6.5. Reimbursement

6.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.5.3. Market Opportunity Analysis

6.6. Public Health Surveillance

6.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.6.3. Market Opportunity Analysis

6.7. Quality Reporting

6.7.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.7.3. Market Opportunity Analysis

6.8. Others

6.8.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

6.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.8.3. Market Opportunity Analysis

7. Global Medical Terminology Software Market, By End User, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

7.1. Healthcare Providers

7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.1.3. Market Opportunity Analysis

7.2. Healthcare Payers

7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.2.3. Market Opportunity Analysis

7.3. Healthcare IT Vendors

7.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.3.3. Market Opportunity Analysis

7.4. Other End Users

7.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.4.3. Market Opportunity Analysis

8. Global Medical Terminology Software Market Forecast, By Region, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

8.1. North America

8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.1.3. Market Opportunity Analysis

8.2. Europe

8.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.2.3. Market Opportunity Analysis

8.3. Asia-Pacific

8.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.3.3. Market Opportunity Analysis

8.4. Latin America

8.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.4.3. Market Opportunity Analysis

8.5. Middle East and Africa

8.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

8.5.3. Market Opportunity Analysis

8.6. Global Medical Terminology Software Market – Opportunity Analysis Index, By Product and Service, Application, End User and Region, 2022-2028

9. North America Medical Terminology Software Market Analysis,2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

9.1. By Product and Service Analysis 2017-2021 and Forecast 2022-2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%)

9.1.1. Services

9.1.2. Platforms

9.2. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

9.2.1. Data Aggregation

9.2.2. Decision Support

9.2.3. Clinical Trials

9.2.4. Clinical Guidelines

9.2.5. Reimbursement

9.2.6. Public Health Surveillance

9.2.7. Quality Reporting

9.2.8. Others

9.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

9.3.1. Healthcare Providers

9.3.2. Healthcare Payers

9.3.3. Healthcare IT Vendors

9.3.4. Other End Users

9.4. Country Analysis 2017-2021 and Forecast 2022-2028by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)

9.4.1. USA

9.4.2. Canada

9.5. North America Medical Terminology Software Market – Opportunity Analysis Index, By Product and Service, Application, End User, and Country, 2022-2028

9.6. North America Medical Terminology Software Market Dynamics – Trends

10. Europe Medical Terminology Software Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

10.1. By Product and Service Analysis 2017-2021 and Forecast 2022-2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%)

10.1.1. Services

10.1.2. Platforms

10.2. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

10.2.1. Data Aggregation

10.2.2. Decision Support

10.2.3. Clinical Trials

10.2.4. Clinical Guidelines

10.2.5. Reimbursement

10.2.6. Public Health Surveillance

10.2.7. Quality Reporting

10.2.8. Others

10.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

10.3.1. Healthcare Providers

10.3.2. Healthcare Payers

10.3.3. Healthcare IT Vendors

10.3.4. Other End Users

10.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)

10.4.1. Germany

10.4.2. UK

10.4.3. France

10.4.4. Spain

10.4.5. Italy

10.4.6. Russia

10.4.7. Poland

10.4.8. Rest of Europe

10.5. Europe Medical Terminology Software Market – Opportunity Analysis Index, By Product and Service, Application, End User, and Country, 2022-2028

10.6. Europe Medical Terminology Software Market Dynamics – Trends

11. Asia-Pacific Medical Terminology Software Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

11.1. By Product and Service Analysis 2017-2021 and Forecast 2022-2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%)

11.1.1. Services

11.1.2. Platforms

11.2. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

11.2.1. Data Aggregation

11.2.2. Decision Support

11.2.3. Clinical Trials

11.2.4. Clinical Guidelines

11.2.5. Reimbursement

11.2.6. Public Health Surveillance

11.2.7. Quality Reporting

11.2.8. Others

11.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

11.3.1. Healthcare Providers

11.3.2. Healthcare Payers

11.3.3. Healthcare IT Vendors

11.3.4. Other End Users

11.4. Country Analysis2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)

11.4.1. Japan

11.4.2. China

11.4.3. India

11.4.4. ASEAN

11.4.5. Australia & New Zealand

11.4.6. Rest of Asia-Pacific

11.5. Asia-Pacific Medical Terminology Software Market – Opportunity Analysis Index, By Product and Service, Application, End User, and Country, 2022-2028

11.6. Asia-Pacific Medical Terminology Software Market Dynamics – Trends

12. Latin America Medical Terminology Software Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

12.1. By Product and Service Analysis 2017-2021 and Forecast 2022-2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%)

12.1.1. Services

12.1.2. Platforms

12.2. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

12.2.1. Data Aggregation

12.2.2. Decision Support

12.2.3. Clinical Trials

12.2.4. Clinical Guidelines

12.2.5. Reimbursement

12.2.6. Public Health Surveillance

12.2.7. Quality Reporting

12.2.8. Others

12.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

12.3.1. Healthcare Providers

12.3.2. Healthcare Payers

12.3.3. Healthcare IT Vendors

12.3.4. Other End Users

12.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)

12.4.1. Brazil

12.4.2. Mexico

12.4.3. Argentina

12.4.4. Rest of Latin America

12.5. Latin America Medical Terminology Software Market – Opportunity Analysis Index, By Product and Service, Application, End User, and Country, 2022-2028

12.6. Latin America Medical Terminology Software Market Dynamics – Trends

13. Middle East and Africa Medical Terminology Software Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)

13.1. By Product and Service Analysis 2017-2021 and Forecast 2022-2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%)

13.1.1. Services

13.1.2. Platforms

13.2. Application Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

13.2.1. Data Aggregation

13.2.2. Decision Support

13.2.3. Clinical Trials

13.2.4. Clinical Guidelines

13.2.5. Reimbursement

13.2.6. Public Health Surveillance

13.2.7. Quality Reporting

13.2.8. Others

13.3. End User Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)

13.3.1. Healthcare Providers

13.3.2. Healthcare Payers

13.3.3. Healthcare IT Vendors

13.3.4. Other End Users

13.4. Country Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)

13.4.1. Gulf Cooperation Council (GCC) Countries

13.4.2. Israel

13.4.3. South Africa

13.4.4. Rest of MEA

13.5. MEA Medical Terminology Software Market – Opportunity Analysis Index, By Product and Service, Application, End User, and Country, 2022-2028

13.6. MEA Medical Terminology Software Market Dynamics – Trends

14. Competition Landscape

14.1. Strategic Dashboard of Top Market Players

14.2. Company Profiles (Introduction, Financial Analysis, Application& Service Offerings, Key Developments, Strategies, and SWOT Analysis)

14.2.1. Wolters Kluwer (Netherlands)

14.2.2. 3M (US)

14.2.3. Intelligent Medical Objects (US)

14.2.4. Apelon (US)

14.2.5. Clinical Architecture (US)

14.2.6. CareCom (Denmark)

14.2.7. Bitac (Spain)

14.2.8. B2i Healthcare (Hungary)

14.2.9. BT Clinical Computing (Belgium)

14.2.10. HiveWorx (Ireland)

15. Research Methodology

16. Key Assumptions and Acronyms

Description

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Medical Terminology Software Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017 To 2021) and Forecast (2022 To 2028)

Description

Key Market Developments:

Medical Terminology Software Market

Medical Terminology Software Market

Key Features of the Report

By Product Type

By Application

By End User

GEOGRAPHY

Frequently Asked Questions

Table Of Content

Company Profile

Description

Key Market Developments:

Product categories

Our Clients

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