Healthcare Master Data Management Market Scope
Healthcare master data management is an important part of the data sharing among multiple systems, the master data can be categorized into two types, one for identify data like a patient, provider, and location identifier and second, reference data which deals with common linkable data such as DRG, SNOMED, ICD, LOINC, and other sets. It is the process of linking identified data and reference data across multiple IT systems of the healthcare sector for consistent reference of patients. The healthcare master data management is primarily done for Mergers and Acquisitions (M&A), Health Information Exchanges (HIEs) and ACOs.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Oracle (United States), SAP SE (Germany), Informatica (United States), Riversand Technologies, Inc. (United States), Profisee Group, Inc. (United States), Veeva Systems Inc. (United States), MuleSoft, LLC. (United States) and Micro Focus (United Kingdom) |
CAGR | 20.3% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Healthcare Master Data Management market throughout the predicted period.
IBM (United States), Oracle (United States), SAP SE (Germany), Informatica (United States), Riversand Technologies, Inc. (United States), Profisee Group, Inc. (United States), Veeva Systems Inc. (United States), MuleSoft, LLC. (United States) and Micro Focus (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Actian (United States) and Mindtree Ltd (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Healthcare Master Data Management market by Type , by Application (Small-medium Size Hospital and Large Size Hospital) and Region with country level break-up.
On the basis of geography, the market of Healthcare Master Data Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In May 2021, Syndigo, a Chicago-based leading SaaS product information, and syndication company, and a portfolio company of Summit Partners and The Jordan Company, announced the acquisition of Riversand, a leading cloud-native SaaS Master Data Management (MDM) and Product Information Management (PIM) solution provider. The terms of the deal were not disclosed.
In May , 2022 Informatica , an enterprise cloud data management leader, today announced the Intelligent Data Management Cloud (IDMC) for Healthcare and Life Sciences with new cloud-first, cloud-native capabilities designed to build digital-first experiences for connected patient care.
Influencing Trend:
Integration of Artificial Intelligence and Machine Learning in the Software Used for Healthcare Master Data Management
Market Growth Drivers:
Rising Healthcare Data and Need to Manage the Patient and Staff Data Securely and Demand for the Operational Efficiency, Effectiveness and Quality of Care in the Healthcare Sector
Challenges:
Technical Issues with the Platform used for Healthcare Master Data Management
Restraints:
Stringent Regulatory Compliances with the Security of Data Management of Healthcare Sector
Opportunities:
Surging Demand for Healthcare Master Data Management from Hospitals and Clinics in Developing Countries
Key Target Audience
Healthcare Master Data Management Providers, Healthcare Master Data Management Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others