The Medical Terminology Software Market crossed the US$ 1.07 billion mark in 2022 and is expected to hit US$ 3.48 billion by 2030, recording a CAGR of 14.2% during the forecast period.

The demand for software responsible for medical terminologies is increasing as the data is humongous. Therefore, the companies are launching products, thereby meeting the current demand. In addition, the surge in need to maintain data integrity is aiding the market’s growth. Healthcare consumers require consistent and ubiquitously available health and medical information which they can access. For instance, in Jan 2022, Wolters Kluwer announced the release of Digital Architect, a platform rich in delivering access to best-in-class health consumer content and clinical decision support for healthcare organizations as well as digital health technology and virtual care vendors. The Report Medical Terminology Software Market study by “Business Market Insights” provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.

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Kay Players:

  • Wolters Kluwer N.V.
  • 3M
  • Intelligent Medical Objects, Inc.
  • Apelon, Inc.
  • Clinical Architecture, LLC
  • CareCom
  • BiTAC
  • B2i Healthcare
  • BT Clinical Computing
  • HiveWorx

Recent strategic developments in the medical terminology software market

The medical terminology software market has undergone several significant developments, and a few of these have been mentioned below:

  • In September 2022, CuriMeta, a new real-world health data company, launched in collaboration with Missouri’s BJC Healthcare and Washington University School of Medicine (WashU Medicine). CuriMeta aims to improve precision medicine and accelerate medical research of complex diseases by sorting and analyzing dense clinical data
  • In March 2022, Thomas H. Lee Partners, L.P. acquired Intelligent Medical to support IMO’s product development and expand commercial relationships with hospitals and other healthcare providers
  • In January 2021, Wolters Kluwer partnered with Henry Schein to integrate Henry Schein MicroMD, practice management, and electronic medical record (EMR) solution with Health Language Clinical Interface Terminology (CIT) to map over a million medical abbreviations quickly, typos, vague terms, and acronyms to standardize terminology

The target audience for the report:

  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Healthcare Providers
  • Healthcare Payers
  • Healthcare IT Vendors
  • Research institutes, organizations, and consulting companies
  • Digital health technologies providers

Scope of the report:

In this report, the market has been segmented based on:

Application:

  • Data Aggregation
  • Decision Support
  • Clinical Trials
  • Clinical Guidelines
  • Reimbursement
  • Public Health Surveillance
  • Quality Reporting and Data Integration

Product and Service:

  • Services
  • Platforms

End User:

  • Healthcare Providers
  • Healthcare Payers
  • Healthcare IT Vendors
  • Other

Region:

  • North America
  • Europe
  • Asia Pacific
  • South & Central America
  • Middle East & Africa

The report segments the Medical Terminology Software Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the Medical Terminology Software Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

The report provides the current market size for Medical Terminology Software, defines trends and presents growth forecasts for nine years from 2022 to 2030. 2020 is considered as the base year, and 2022 to 2030 is forecast year for the entire report. All the market numbers for revenue are provided in US dollars. The market is analyzed by the supply side, considering the market penetration of Medical Terminology Software Market for all the regions globally.

The scope of the Medical Terminology Software Market Report:

The research report focuses on the current market trends, opportunities, future potential of the market, and competition in the Medical Terminology Software. The study also provides market insights and analysis of the Medical Terminology Software, highlighting the technological market trends, adoption rate, industry dynamics, and competitive analysis of major players in the industry.

The global Medical Terminology Software Market is segmented based on deployment, component, solution, application, and geography. The segmentation in this research study has been finalized post in-depth secondary research and extensive primary research. In addition, the market is also segmented on the basis of products offered by the leading participants in the industry in order to understand widely used market specific terminologies. Thus, we have incorporated the segments of the research and have finalized the market segmentation.

Major highlights of the report:

  • All-inclusive evaluation of the parent market
  • Evolution of significant market aspects
  • Industry-wide investigation of market segments
  • Assessment of market value and volume in past, present, and forecast years
  • Evaluation of market share
  • Tactical approaches of market leaders
  • Lucrative strategies to help companies strengthen their position in the market

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Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Medical Terminology Software Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2030, factoring the impact of Covid -19 Situation.

Reason to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Medical Terminology Software Market.
  • Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
  • The key findings and recommendations highlight crucial progressive industry trends in the Medical Terminology Software Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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