Increasing Need for Enhanced Patient Safety & Experience Boosts the Global Medical Terminology Software Market

The Global Medical Terminology Software Market is expecting around 21.11% CAGR during 2021-26, cites the recent research report by MarkNtel Advisors. The mounting requirements in hospitals & other healthcare institutes to reduce medical errors & maintain the data integrity of patient healthcare information, coupled with the rising awareness among doctors & patients about the various benefits & easy availability of medical terminology software, are driving the global market.

Moreover, the active role of governments of different countries worldwide in promoting the adoption of HCIT and increasing R&D expenditure by the developers of this software on introducing innovative features & advanced technologies in their product offerings are also augmenting the growth of the global market.

In addition, numerous hospitals & healthcare facilities worldwide are increasingly utilizing medical terminology software to improve patient documentation procedures, store clinical data, and enhance data-related operations, thereby projecting remunerative growth prospects for the global market through 2026, further states the research report, "Global Medical Terminology Software Market Analysis, 2021."

North America & Asia-Pacific to Remain Significant Contributors to the Market Growth

North America is witnessing an increasing adoption of cloud-based solutions, coupled with stringent regulations regarding patient safety. The easy availability of some prominent medical terminology software providers in the US and the growing prevalence of Healthcare IT technologies across North America are creating remunerative growth opportunities for the regional market.

Asia-Pacific is expecting the fastest growth in the Medical Terminology Software Market over the forecast years, owing prominently to the increasing number of tourists in the region for medical purposes and substantial investments by many regional countries in infrastructural developments associated with the healthcare sector.

Surging Demand for Medical Terminology Solutions for Data Aggregation Application

Data aggregation helps healthcare professionals in strategic planning & creating efficient treatments using the critical information provided by the medical terminology software. The growing need in medical facilities for uniform data sources and enhanced performance measurement & transparency across patient care services are driving the medical terminology software market for the data aggregation application, which acquired the largest market share in previous years, reveals MarkNtel Advisors in their research report, "Global Medical Terminology Software Market Analysis, 2021."

Competitive Landscape:

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 Research Report:

1. What are the current & future trends in the Global Medical Terminology Software Market?
2. How has the industry been evolving in terms of geography & service adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Medical Terminology Software Market?
5. What are the customer orientation, purchase behavior, & expectations from medical terminology software solution providers across various regions?

Market Segmentation:

1. By Product & Services (Services, Platforms)
2. By Application (Data Aggregation, Reimbursement, Public Health Surveillance, Data Integration, Decision Support, Clinical Trials, Quality Reporting, Clinical Guidelines)
3. By End-Users (Healthcare Providers, Healthcare Payers, Healthcare IT Vendors)
4. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
5. By Countries (The US, Canada, Mexico, Brazil, Germany, France, Italy, The UK, Spain, South Africa, UAE, Saudi Arabia, China, India, Japan, Australia, South Korea)
6. By Competitors (3M, Clinical Architecture, Apelon, B2I Healthcare PTE Ltd., Intelligent Medical Objects, Inc., Wolters Kluwer, Carecom, Bitac, Hivework, BT Clinical Computing)