Healthcare Quality Management Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Healthcare Quality Management Market in 2025 is estimated at USD 6.64 billion. The global market size crossed USD 5.84 billion in 2024 and is likely to register a CAGR of over 17.2%, exceeding USD 45.97 billion revenue by 2037. North America is estimated to record USD 16.09 billion by 2037, driven by rising chronic disease rates and government efforts to upgrade healthcare.
The growth of the market can be attributed to the increasing amount of data generated in the entire world of healthcare. The huge amount of data prompts the need for healthcare quality management for analyzing the data and extract meaningful patterns. Researchers at the Icahn School of Medicine at Mount Sinai are focusing on breast and ovarian cancer through research that analyses enormous volumes of data from more than 2,000 Genetic sequences. The research takes place on a safe cloud-based platform through Amazon Web Services, and the data set is of volume more than 100 terabytes.
In addition to these, factors that are believed to fuel the healthcare quality management market growth of healthcare quality management include the growing adoption of electronic health records by various clinics and hospitals. The use of EHR improves the quality of healthcare by increasing the precision and clarity of medical records, the EHR can reduce the frequency of medical errors. Moreover, it enables the availability of medical information, reduces redundant testing, speeds up the treatment, and empowers patients to make better decisions. Since 2011 when 28% of hospitals and 34% of physicians had implemented an EHR in the United States, there has been a significant 10-year advancement. Moreover, by 2021, almost 96% of non-federal acute care hospitals and approximately four out of five office-based physicians approximately 78% had embraced certified EHRs.
