The new report by Expert Market Research titled, ‘Global Healthcare Contract Management Software Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global healthcare contract management software market, assessing the market based on its segments like product and service, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 19.2%
The growing need in the healthcare sector to keep track of payments and claims is driving the worldwide healthcare contract management software market. Due to its widespread usage in the contract lifecycle process and contract document maintenance, contract lifecycle management software leads the market.
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Moreover, due to the rising need for transparency, fast return on investment, high data security maintenance, and expanding demand for contract management software, the Asia-Pacific region is projected to lead the market.
Industry Definition and Major Segments
Healthcare contract management software assists healthcare organisations in streamlining contract processes, minimising risk, and creating a more effective compliance monitoring framework. It helps in keeping an outline on sourcing of decisions. It assists in maintaining and managing indirect costs in marketing, information technology, and research and development. The healthcare contract management software further helps in aligning top as well as medium scale healthcare facilities.
By product and service, the market is divided into:
- Clinical Information Systems (CIS)
- Services
- Support and Maintenance Services
- Implementation and Integration Services
- Training and Education Services
- Software
- Contract Lifecycle Management Software
- Contract Repository/Document Management Software
By end-use, the market is divided into:
- Healthcare Providers
- Hospitals
- Physician Clinics
- Healthcare Payers
- Research Organizations
- Medical Device Manufacturers and Pharma and Biotech Companies
- Healthcare Payers
The global regions for rapid self-healing gel market include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Market Trends
The notable growth of the market is attributed to the growing adoption of cloud computing in healthcare and the high demand for remote working in the COVID-19 pandemic. The need to minimize risk through better compliance and demand for cost reduction and operational efficiency are the key factors driving the healthcare contract management software market growth. The growing demand for the healthcare insurance provider is also contributing towards market growth.
Key Market Players
The major players in the market are Icertis, Apttus Corporation, CobbleStone Software, Concord, Contract Logix, LLC., Experian plc [EXPN (LON)], nThrive, Inc., Optum, Inc., ScienceSoft USA Corporation, Coupa Software Inc. [COUP (NASDAQ)] among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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