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Europe Medical Terminology Software Market Size, Share & Trends Analysis Report By Application (Quality Reporting, Reimbursement, Data Aggregation, Clinical Trials and Others), By End User, By Country and Growth Forecast, 2023 - 2030

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    Report

  • January 2024
  • Region: Europe
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5935716
The Europe Medical Terminology Software Market would witness market growth of 10.1% CAGR during the forecast period (2023-2030).

Incorporating AI into medical terminology software can significantly enhance the precision of clinical documentation, medical classification, and other healthcare-related tasks. Artificial intelligence algorithms can analyze enormous quantities of medical data, recognize patterns, and make accurate predictions. Moreover, AI can assist in the market opportunity by reducing manual labour and automating routine tasks. As an illustration, artificial intelligence (AI) can aid in extracting relevant medical codes and terms from clinical notes, enabling healthcare professionals to allocate their time to other critical obligations.

Stringent regulatory frameworks, like the Health Insurance Portability and Accountability Act (HIPAA) in the United States and the General Data Protection Regulation (GDPR) in Europe, mandate secure and standardized handling of healthcare data. This plays a pivotal role in ensuring compliance with these regulations. The paradigm shifts towards precision medicine, where therapies are tailored to particular patients based on their unique genetic makeup, demands advanced medical terminology software capable of accurately deciphering complex genetic and molecular information.

The European Union's eHealth Action Plan emphasizes using digital technologies in healthcare. As per the National Statistics of the UK, in 2020, present healthcare expenditures in the United Kingdom amounted to £257.6 billion, equivalent to £3,840 per individual. In 2020, the aggregate current healthcare expenditure in the United Kingdom comprised 12.0% of the country's gross domestic product (GDP), up from 9.9% in 2019. The UK's healthcare system is increasingly focused on achieving interoperability between healthcare systems and providers. It is key in achieving standardized communication and data exchange, supporting seamless interoperability. Therefore, the factors mentioned above will propel the market growth in this region.

The Germany market dominated the Europe Medical Terminology Software Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $126.2 Million by 2030. The UK market is exhibiting a CAGR of 9.2% during (2023 - 2030). Additionally, The France market would experience a CAGR of 10.9% during (2023 - 2030).

Based on Application, the market is segmented into Quality Reporting, Reimbursement, Data Aggregation, Clinical Trials and Others. Based on End User, the market is segmented into Healthcare Providers, Healthcare Payers and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

List of Key Companies Profiled

  • Wolters Kluwer N.V.
  • Intelligent Medical Objects, Inc.
  • Clinical Architecture, LLC
  • B2i Healthcare Kft
  • HiveWorx Limited
  • 3M Company
  • West Coast Informatics, Inc.
  • TermSolutions GmbH
  • BITAC, Inc.
  • Apelon, Inc.

Market Report Segmentation

By Application
  • Quality Reporting
  • Reimbursement
  • Data Aggregation
  • Clinical Trials
  • Others
By End User
  • Healthcare Providers
  • Healthcare Payers
  • Others
By Country
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Medical Terminology Software Market, by Application
1.4.2 Europe Medical Terminology Software Market, by End User
1.4.3 Europe Medical Terminology Software Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. Europe Medical Terminology Software Market by Application
4.1 Europe Quality Reporting Market by Country
4.2 Europe Reimbursement Market by Country
4.3 Europe Data Aggregation Market by Country
4.4 Europe Clinical Trials Market by Country
4.5 Europe Others Market by Country
Chapter 5. Europe Medical Terminology Software Market by End User
5.1 Europe Healthcare Providers Market by Country
5.2 Europe Healthcare Payers Market by Country
5.3 Europe Others Market by Country
Chapter 6. Europe Medical Terminology Software Market by Country
6.1 Germany Medical Terminology Software Market
6.1.1 Germany Medical Terminology Software Market by Application
6.1.2 Germany Medical Terminology Software Market by End User
6.2 UK Medical Terminology Software Market
6.2.1 UK Medical Terminology Software Market by Application
6.2.2 UK Medical Terminology Software Market by End User
6.3 France Medical Terminology Software Market
6.3.1 France Medical Terminology Software Market by Application
6.3.2 France Medical Terminology Software Market by End User
6.4 Russia Medical Terminology Software Market
6.4.1 Russia Medical Terminology Software Market by Application
6.4.2 Russia Medical Terminology Software Market by End User
6.5 Spain Medical Terminology Software Market
6.5.1 Spain Medical Terminology Software Market by Application
6.5.2 Spain Medical Terminology Software Market by End User
6.6 Italy Medical Terminology Software Market
6.6.1 Italy Medical Terminology Software Market by Application
6.6.2 Italy Medical Terminology Software Market by End User
6.7 Rest of Europe Medical Terminology Software Market
6.7.1 Rest of Europe Medical Terminology Software Market by Application
6.7.2 Rest of Europe Medical Terminology Software Market by End User
Chapter 7. Company Profiles
7.1 Wolters Kluwer N.V.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.6 SWOT Analysis
7.2 Intelligent Medical Objects, Inc.
7.2.1 Company Overview
7.2.2 Recent strategies and developments:
7.2.2.1 Product Launches and Product Expansions:
7.2.3 SWOT Analysis
7.3 Clinical Architecture, LLC
7.3.1 Company Overview
7.3.2 Recent strategies and developments:
7.3.2.1 Product Launches and Product Expansions:
7.3.3 SWOT Analysis
7.4 B2i Healthcare Kft
7.4.1 Company Overview
7.4.2 SWOT Analysis
7.5 HiveWorx Limited
7.5.1 Company Overview
7.5.2 SWOT Analysis
7.6 3M Company
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expense
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.6 SWOT Analysis
7.7 West Coast Informatics, Inc.
7.7.1 Company Overview
7.7.2 SWOT Analysis
7.8 TermSolutions GmbH
7.8.1 Company Overview
7.8.2 SWOT Analysis
7.9 BITAC, Inc.
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. Apelon, Inc.
7.10.1 Company Overview
7.10.2 SWOT Analysis

Companies Mentioned

  • Wolters Kluwer N.V.
  • Intelligent Medical Objects, Inc.
  • Clinical Architecture, LLC
  • B2i Healthcare Kft
  • HiveWorx Limited
  • 3M Company
  • West Coast Informatics, Inc.
  • TermSolutions GmbH
  • BITAC, Inc.
  • Apelon, Inc.

Methodology

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