Dublin, June 17, 2019 (GLOBE NEWSWIRE) -- The "Healthcare Contract Management Software Market by Product & Service (Contract Lifecycle Management, Document Management), End User (Healthcare Providers, Hospitals, Physicians, Payers, Medical Device Manufacturers, Pharma) - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The global healthcare contract management software market is projected to reach USD 1,763.4 million by 2024 from USD 754.7 million in 2019, at a CAGR of 18.5% during the forecast period.
The demand for healthcare contract management solutions is majorly driven by the growing need to reduce operational costs (while increasing the operational efficiency of healthcare organizations) and the growing need to maintain compliance with regulatory mandates.
On the other hand, the dearth of in-house IT expertise and the reluctance of healthcare providers to adopt new methods of contract management are expected to restrain the growth of the healthcare contract management software market to a certain extent during the forecast period.
In this report, the healthcare contract management software market is segmented on the basis of product & service, end user, and region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Healthcare Contract Management Software: Market Overview
4.2 Asia Pacific: Healthcare Contract Management Software Market, By End User (2018)
4.3 Geographic Snapshot of the Healthcare Contract Management Software Market
4.4 Regional Mix: Healthcare Contract Management Software Market
4.5 Healthcare Contract Management Software Market: Developing Vs. Developed Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Key Market Drivers
5.2.1.1 Growing Need to Increase the Operational Efficiency of Healthcare Organizations While Decreasing Operational Costs
5.2.1.2 Growing Need to Maintain Compliance With Regulatory Mandates
5.2.1.3 High Returns on Investment
5.2.2 Key Market Restraints
5.2.2.1 Reluctance to Switch From Conventional Methods
5.2.2.2 IT Infrastructural Limitations in Developing Countries
5.2.3 Key Market Opportunities
5.2.3.1 Declining Reimbursements and Competitive Rivalry Among Healthcare Payers
5.2.4 Key Market Challenges
5.2.4.1 Security Concerns
5.2.4.2 Dearth of Skilled IT Professionals
6 Industry Insights
6.1 Industry Trends
6.1.1 Growing Preference for Cloud-Based Contract Management Solutions
6.1.2 Chatbots/Intelligent Agents for End-To-End Contract Cycle Management
6.1.3 Growing Demand for Self-Service Features in Contract Management
6.2 Customer Challenges
7 Healthcare Contract Management Software Market, By Product & Service
7.1 Introduction
7.2 Services
7.2.1 Support & Maintenance Services
7.2.1.1 Rising Trend of Outsourcing is Driving the Market for Support & Maintenance Services
7.2.2 Implementation & Integration Services
7.2.2.1 Need to Comply With National Healthcare Safety Network Standards Related to Secure Access Management and the Requirement of Interoperability of Software to Boost Market Growth
7.2.3 Training & Education Services
7.2.3.1 Training & Education Services Increase Healthcare Providers' Awareness of the Latest Contract Management Solutions Available in the Market
7.3 Software
7.3.1 Contract Lifecycle Management Software
7.3.1.1 Contract Lifecycle Management Software Ensures Increase in Visibility, Prevention From Litigation Issues, and Efficient Compliance
7.3.2 Contract Repository/Document Management Software
7.3.2.1 Contract Repository/Document Management Software is Used to Store Contract Documents and Serve as A Repository for All the Contracts in A Healthcare Organization
8 Healthcare Contract Management Software Market, By End User
8.1 Introduction
8.2 Healthcare Providers
8.2.1 Hospitals
8.2.1.1 Growing Need to Improve the Profitability of Healthcare Operations is Driving the Use of Contract Management Software in Hospitals
8.2.2 Physician Clinics
8.2.2.1 For Physicians, Contract Management Solutions Increase Compliance, Efficiency, and Financial Performance
8.2.3 Other Healthcare Providers
8.3 Healthcare Payers
8.3.1 Payer Contract Management is Vital in Ensuring That Reimbursement is Correctly Issued
8.4 Medical Device Manufacturers and Pharma & Biotech Companies
8.4.1 Need to Adapt to A Changing Regulatory Scenario has Driven Solution Uptake Among Manufacturers and Companies
8.5 Research Organizations
8.5.1 Contracted Clinical Trials and Drug Development Services Require Effective Software Solutions for Management
9 Healthcare Contract Management Software Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US Dominates the North American Healthcare Contract Management Software Market
9.2.2 Canada
9.2.2.1 Growing Need for Cost Containment in Healthcare to Boost Market Growth
9.3 Europe
9.3.1 Germany
9.3.1.1 Rising Focus on Digitizing the Healthcare System in the Country to Support the Growth of the Contract Management Software Market in Germany
9.3.2 UK
9.3.2.1 Healthcare Providers in the UK are Actively Looking Towards Transforming Their Organizations Into Paperless Environments Through Electronic Ehrs and Contract Management Software
9.4 Asia Pacific (APAC)
9.4.1 Japan
9.4.1.1 Japan is the Largest Market for Healthcare Contract Management Software in APAC
9.4.2 China
9.4.2.1 Rising Demand for Healthcare Services and Rising Medical Insurance Claims to Support Market Growth
9.4.3 India
9.4.3.1 Growth in the Healthcare Sector and Growing Investments for Modernization of the Country's Healthcare Infrastructure to Support Market Growth
10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis
10.3 Competitive Leadership Mapping
10.4 Competitive Situation and Trends
11 Company Profiles
11.1 Icertis Inc.
11.2 Apttus Corporation
11.3 CobbleStone Software
11.4 Concord
11.5 Contract Logix LLC.
11.6 Determine Inc.
11.7 Experian PLC.
11.8 nThrive Inc.
11.9 Optum Inc.
11.10 ScienceSoft
11.11 Coupa Software Inc.
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