Global Medical Terminology Software Market, By Product Type, By Application, By End User, By Geography

Description

Global medical terminology software market is expected to reach US$ 5,231.5 Mn by 2030, from US$ 1,439.9 Mn in 2023, at a CAGR of 20.2% during the forecast period.

Report Coverage		Report Details
Base Year:	2022	Market Size in 2023:	US$ 1,439.9 Mn
Historical Data for:	2018 to 2021	Forecast Period:	2023 - 2030
Forecast Period 2023 to 2030 CAGR:	20.20%	2030 Value Projection:	US$ 5,231.5 Mn

Figure 1. Global Medical Terminology Software Market Share (%), By Region, 2023

Global Medical Terminology Software Market - IMG1

The field of medical terminology is essential for effective communication in the healthcare industry. Accuracy and precision in medical language are crucial for the proper understanding and interpretation of medical records, research findings, and healthcare procedures. With the advancement of technology, medical terminology software has emerged as a vital tool in the healthcare domain.

Medical terminology software is designed to assist healthcare professionals in decoding complex medical terms and abbreviations, ensuring accurate documentation and communication. It provides an extensive database of medical terms, definitions, and standardized abbreviations, simplifying the process of medical coding, billing, and transcription.

Market Dynamics:

Global medical terminology software market is witnessing significant growth due to several key factors. One major driver is increasing adoption of electronic health records (EHRs) and shift towards digitization in healthcare systems globally. The need to accurately document and interpret medical information has boosted demand for efficient software solutions that facilitate effective communication across healthcare providers and departments.

Furthermore, advancements in natural language processing (NLP) and artificial intelligence (AI) technologies have enhanced the capabilities of medical terminology software. These technological advancements enable better data analytics, predictive analytics, and machine learning algorithms, and thus, contributing to improved healthcare outcomes and cost efficiency. Increasing spinoff by market players is also driving the market growth over the forecast period. For instance, in July 2022, 3M a conglomerate company spin off its spin off its health-care business into a separate publicly traded company. The new business will focus on wound and oral care, health-care IT and biopharma filtration, the material science company.

Key features of the study:

This report provides in-depth analysis of the global medical terminology software market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global medical terminology software market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Wolters Kluwer, 3M, Apelon, Intelligent Medical Objects, Clinical Architecture, Bitac, B2i Healthcare, HiveWorx, BT Clinical Computing, EzCoder, Savante International, Stryker, CloudPital, SoftMed Systems, DXC Technology Company, and GenoLogics
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global medical terminology software market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical terminology software market

Detailed Segmentation:

By Product Type
- Services
- Platforms
- Integrated Platforms
By Application
- Data Aggregation
- Reimbursement
- Clinical Decision Support
- Clinical Trials
- Others
By End User
- Healthcare Providers
- Healthcare Payers
- Healthcare IT Vendors
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Top companies in Global Medical Terminology Software Market:
- Wolters Kluwer
- 3M
- Intelligent Medical Objects
- Apelon
- Clinical Architecture
- Bitac
- B2i Healthcare
- HiveWorx
- BT Clinical Computing
- EzCoder
- Savante International
- Stryker
- CloudPital
- SoftMed Systems
- DXC Technology Company
- GenoLogics

Product Code: CMI6311

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Medical Terminology Software, By Product Type
- Market Medical Terminology Software, By Application
- Market Medical Terminology Software, By End User
- Market Medical Terminology Software, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Growing need to reduce medical errors and improve patient safety
- Interoperability and integration challenges
- Integration of medical terminology software with big data analytics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Medical Terminology Software Market - Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Global Medical Terminology Software Market, By Product Type, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2019 - 2030
- Segment Trends
Services
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Platforms
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Mn)
Integrated Platforms
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)

6. Global Medical Terminology Software Market, By Application, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2019 - 2030
- Segment Trends
Data Aggregation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Reimbursement
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Clinical Decision Support
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Clinical Trials
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)

7. Global Medical Terminology Software Market, By End User, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2019 - 2030
- Segment Trends
Healthcare Providers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Healthcare Payers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)
Healthcare IT Vendors
- Introduction
Market Size and Forecast, and Y-o-Y Growth, 2018-2030, (US$ Mn)

8. Global Medical Terminology Software Market, By Region, 2018-2030, (US$ Mn)

Introduction
- Market Share Analysis, By Region, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Region, 2019 -2030
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030, (US$ Mn)
U.S.
Canada
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030, (US$ Mn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030, (US$ Mn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030, (US$ Mn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030, (US$ Mn)
GCC Countries
Israel
Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2018-2030, (US$ Mn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030, (US$ Mn)
South Africa
North Africa
Central Africa

9. Competitive Landscape

Wolters Kluwer
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
3M
Intelligent Medical Objects
Apelon
Clinical Architecture
Bitac
B2i Healthcare
HiveWorx
BT Clinical Computing
EzCoder
Savante International
Stryker
CloudPital
SoftMed Systems
DXC Technology Company
GenoLogics
Analyst Views

10. Section

Research Methodology
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