According to MarkNtel Advisors’ research report, the Global Medical Terminology Software Market is projected to grow at a CAGR of 21.11% in the forecast period of 2021-26. It owes to the increasing need to maintain the data integrity of the patients entwined with the growing awareness among doctors & patients about the advantages & availability of the software.
In addition, medical terminology software makes the patient paperwork easier to understand, thereby assisting medical professionals in making decisions, quality reporting, recommendations & performing clinical trials, reimbursements, and public health surveillance. Furthermore, the rising need to enhance the patient experience is expected to drive the market growth, along with the above-cited factors, in the forecast period.
Demand for Medical Terminology Solutions for Quality Reporting to Display the Fastest Growth During 2021-26
Various regulations by the governments of different countries toward promoting the adoption of medical terminology software to help medical professionals assess & report the quality of care provided to the patients are the most prominent factors expected to drive the demand for medical terminology software in Quality Reporting during 2021-26.
North America to Lead the Global Medical Terminology Software Market Through 2026
The emerging trend of cloud-based solutions & semantic interoperability is the key factor driving the market during 2021-26. The presence of medical terminology software providers, particularly across countries like the US, entwined with the adoption of modern technology in the regional healthcare sector are other crucial aspects expected to fuel the market growth in North America, reveals MarkNtel Advisors in their research report, "Global Medical Terminology Software Market Analysis, 2021."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Medical Terminology Software Market are 3M, Clinical Architecture, Apelon, B2I Healthcare PTE Ltd., Intelligent Medical Objects, Inc., Wolters Kluwer, Carecom, Bitac, Hivework, and BT Clinical Computing.
Key Questions Answered in the Study