Medical Terminology Software Market to Hit US$ 3.48 Bn by 2030 at 14.2% CAGR

NEW YORK, UNITED STATES, February 1, 2023 /EINPresswire.com/ -- The 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.
Business Market Insights Medical Terminology Software Market¹ report 2022, discusses various factors driving or restraining the market, which will help the future market to grow with promising CAGR. The Medical Terminology Software Market Research Reports offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Medical Terminology Software Market is based on company profiles and their efforts on increasing product value and production.

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Some of the companies competing in the Medical Terminology Software Market are:
• Wolters Kluwer N.V.
• 3M
• Intelligent Medical Objects, Inc.
• Apelon, Inc.
• Clinical Architecture, LLC
• CareCom
• BiTAC
• B2i Healthcare
• BT Clinical Computing
• HiveWorx

Medical Terminology Software Market Segmentation:
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

Medical terminology is a far-reaching technology that empowers the growth of futuristic innovations:
Medical terminology is the vocabulary professionals use to describe the body, what it does, and the treatments they prescribe. Medical software is the system used within a medical context; for example, standalone software is used for therapeutic purposes or diagnostics. It is used as software that acts as an accessory to a medical device, used in the design, production, and testing of a medical device. Furthermore, the software provides quality control management of a medical device. It helps hospitals improve patient documentation processes and records the clinical information, and helps manage, integrate, extend, and deploy standard terminology in the healthcare sector.

The final report will add the analysis of the Impact of Covid-19 in this report Medical Terminology Software Market.
Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Medical Terminology Software Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Medical Terminology Software Market is analyzed and depicted in the report.

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

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Reasons for buy this Report
• Highlights key business priorities to assist companies to realign their business strategies.
• 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.
• 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 hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest to components, type, and end-users.

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