Healthcare information governance solution market players and analysis by type, deployment, by applications, by end-user- forecast till 2030
Information technology is playing an important role in transforming the healthcare sector. Healthcare information governance solution (IGS) is one of the major outcomes of this integration. Healthcare IGS facilitate faster implementation of processes, boots metrics, and streamline controls. Growing trend of healthcare digitization has led to generation of vast amount of data, which requires effective management. This is possible using healthcare IGS. These solutions allow medical services providers better leverage patient information through a systematic format. Demand for healthcare IGS is rising substantially as users realises it advantages. Market Research Future (MRFR) projects that the global healthcare IGS market will grow at a staller CAGR of 12.30% during the forecast period (2022-2030).
Given that governments all over the world advocate for a strong healthcare management system, the Healthcare information governance solution (IGS) is expected to gain traction in the coming years. While the goal of IGS is to convert information into a business asset, it is also used to ensure compliance and reduce costs. Stricter regulations, combined with the rising cost of legal risk, are driving healthcare organisations to seek information governance solutions.
Rising penalties for noncompliance, the expansion of data-driven submarkets such as pharmaceuticals and biotechnology, the increasing need for data management in healthcare, and the rapid adoption of IT solutions in healthcare are driving the global healthcare information governance solution (IGS) market. Efforts are also being made to lower the cost of such a solution in order to broaden its user base and enter price-sensitive markets. Other fundamental bottlenecks that have yet to be addressed include fragmented data structures, incompatibility with traditional organisational structures, and a secrecy culture.
Competitive Landscape
Some of the notable companies operating in the global healthcare information governance solution (IGS) include HP Autonomy (England), Information Governance Solutions, LLC. (U.S.), Google (U.S.), Hewlett Packard Enterprise Development LP (U.S.), NovaDigm Therapeutics (U.S.), Electronic Medicines Compendium (U.S.), Veritas Technologies (U.S.), Symantec Corporation (U.S.), Microsoft (U.S.), FTI Consulting, Inc. (U.S.) and iDiscovery Solutions, Inc. (U.S.)
Segmental Overview
MRFR’s report includes a comprehensive segmental analysis of the global healthcare information governance solution (IGS) market, which is conducted on the basis of deployment, application, type and end-user.
On the basis of deployment, the market has been segmented into in-premise and as web and cloud. Based on application, the market has been segmented into customer support, financials, records and others. By type, the market has been segmented into analytics, eDiscovery, content management, information security, information archiving and others. On the basis of end-user, the market has been segmented into hospitals and clinics, research and academics, pharmaceuticals and biotechnological industries, consulting companies and others.
Global Healthcare Information Governance Solution (IGS) Market: Regional Segmentation
The Americas, Europe, Asia Pacific and the Middle East Africa (MEA) among the key regions discussed in the report. It is projected that the global IGS market will be dominated by the Americas during the forecast period. Presence of consumer-centric coverage polices, and high healthcare expenditure support the market growth in the region. Moreover, rapid integration of information technology in the healthcare sector in the U.S providing an impetus to the North America healthcare IGS market. In term of revenue, Europe holds the second spot. Faster uptake of technologies coupled with a robust healthcare landscape puts the region at a favourable position in the global market for healthcare IGS.
Asia Pacific has also emerged as a key investment destination for market participants. The region's healthcare sector is undergoing massive transformation, opening up new opportunities for growth. At the same time, China's and India's economic growth is creating new opportunities. Without a doubt, the healthcare sector is benefiting from such developments and is likely to capture a larger share of APAC's overall economic output.
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