Healthcare Contract Management Software Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

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The healthcare contract management software market is estimated to be worth USD 1,987 million by 2030 from a value of USD 745 million in 2019, growing at a CAGR of 17.5% during the forecast period.

Description

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 2030
Product Overview
Healthcare Contract Management Software is a software that can help the end-users such as pharmaceutical manufacturers, hospitals, and medical device manufacturers efficiently to manage health care contracts. It further ensures that the healthcare company adheres to strict data compliance guidelines which is a part of everyday duties as a healthcare contract management professional. This software helps in time-saving and maintaining a well-organized platform to manage contracts. Furthermore, the contract management helps to provide a lifecycle management solution for compliance and risk management.
Market Overview
The healthcare contract management software market is estimated to be worth USD 1,987 million by 2030 from a value of USD 745 million in 2019, growing at a CAGR of 17.5% during the forecast period. 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 are key drivers of this market. 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.
The market for contract lifecycle management software is projected to grow at the highest CAGR during the forecast period
On the basis of software, the market for contract lifecycle management software is projected to grow at the highest rate during the forecast period. The high growth of this segment is attributed to its rising use in streamlining contract lifecycle processes and maintaining complex contract documents in the contract repository for all contracts.
Market Dynamics
The growing need to reduce operational costs (while increasing the operational efficiency of healthcare organizations) and the rising need to maintain compliance with regulatory mandates are key drivers that are booming the growth of the global market. Strategic collaboration and partnerships along with product innovation have also stimulated market growth.
The APAC region is expected to grow at the fastest rate during the forecast period
The healthcare contract management software market in APAC is expected to grow at the highest CAGR during the forecast period. A majority of this growth is driven by the increasing need for complete transparency, rapid return on investment (ROI), and high level of data security, and increasing demand for effective contract management software. A number of healthcare organizations in Asia are actively moving towards digitization to streamline their entire workflow and ensure patient care and safety that resulted in an increased demand for contract management software to keep the record of patient contracts and patient transfer agreements.
Key Market Players
The key players in the global healthcare contract management software market are Icertis (US), Apttus Corporation (US), Optum Inc. (US), Determine Inc. (US), CobbleStone Software (US), Experian Plc. (Ireland), ScienceSoft (US), nThrive Inc. (US), Concord (US), Coupa Software Inc. (US), and Contract Logix LLC(US).

Healthcare Contract Management Software Market, By Product & Service
• Software
o Contract Lifecycle Management
o Contract Repository/Document Management
• Services
o Support & Maintenance
o Implementation and Integration
o Training & Education
Healthcare Contract Management Software Market, By End User
• Healthcare Providers
o Hospitals
o Physician Clinics
o Other Healthcare Providers
• Healthcare Payers
• Medical Device Manufacturers and Pharma & Biotechnology Companies
• Research Organizations

Additional information

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Geography Covered

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Table of Contents

Contents 1. Executive Summary 2. Global Healthcare Contract Management Software Market 2.1. Product Overview 2.2. Market Definition 2.3. Segmentation 2.4. Assumptions and Acronyms 3. Research Methodology 3.1. Research Objectives 3.2. Primary Research 3.3. Secondary Research 3.4. Forecast Model 3.5. Market Size Estimation 4. Average Pricing Analysis 5. Macro-Economic Indicators 6. Market Dynamics 6.1. Growth Drivers 6.2. Restraints 6.3. Opportunity 6.4. Trends 7. Correlation & Regression Analysis 7.1. Correlation Matrix 7.2. Regression Matrix 8. Recent Development, Policies & Regulatory Landscape 9. Risk Analysis 9.1. Demand Risk Analysis 9.2. Supply Risk Analysis 10. Global Healthcare Contract Management Software Market Analysis 10.1. Porters Five Forces 10.1.1. Threat of New Entrants 10.1.2. Bargaining Power of Suppliers 10.1.3. Threat of Substitutes 10.1.4. Rivalry 10.2. PEST Analysis 10.2.1. Political 10.2.2. Economic 10.2.3. Social 10.2.4. Technological 11. Global Healthcare Contract Management Software Market 11.1. Market Size & forecast, 2020A-2030F 11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12. Global Healthcare Contract Management Software Market: Market Segmentation 12.1. By Regions 12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.2. By Product & Service: Market Share (2020-2030F) 12.2.1. Software, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.2.2. Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.3. By End User: Market Share (2020-2030F) 12.3.1. Healthcare Providers, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.3.2. Healthcare Payers, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.3.3. Medical Device Manufacturers and Pharma & Biotechnology Companies, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.3.4. Research Organizations, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 13 Company Profile 13.1. Determine Inc. (US) 13.1.1. Company Overview 13.1.2. Company Total Revenue (Financials) 13.1.3. Market Potential 13.1.4. Global Presence 13.1.5. Key Performance Indicators 13.1.6. SWOT Analysis 13.1.7. Product Launch 13.2. CobbleStone Software (US) 13.3. Concord (US) 13.4. Contract Logix LLC (US) 13.5. Icertis (US) 13.6. Apttus Corporation (US) 13.7. Optum Inc. (US) 13.8. nThrive Inc. (US) 13.9. Experian Plc. (Ireland) 13.10. Coupa Software Inc. (US) 13.11. ScienceSoft (US). 13.12. Other Prominent Players 14 Consultant Recommendation **The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.