Global Healthcare Information Governance Solution (IGS) Market- Overview
Healthcare information governance solution enables effective management of healthcare information. It involves processing, controlling, and retrievals of information in a suitable format when required. Information governance enables an organization to become adaptive and responsive to the changing demands of the market demands. One of the major goals of the information governance in healthcare is to centralize the fragmented data so as to increase its accessibility, thereby, relaxing the work flow.
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Factors such as growing stringency of regulations, rising noncompliance costs, and advancements in the processing power are driving the healthcare information governance solution (IGS) market. On the other hand, high costs for the information governance systems, cultures of secrecy, and traditional organization structures may restrain the market growth during the forecast period.
The global healthcare information governance solution (IGS) market is growing with a sound pace. According to a recent study report published by the Market Research Future, the global healthcare information governance solution (IGS) market is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a sound growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2027).
Global Healthcare Information Governance Solution (IGS) Market- Competitive Analysis
Dell Inc., HP Autonomy, IBM, Symantec Corporation, Google, Amazon, Microsoft, Hewlett Packard Enterprise Development LP, nThrive, Inc, Veritas Technologies LLC, Information Governance Solutions, LLC., FTI Technology LLC, iDiscovery Solutions, Inc. are some of the prominent players at the forefront of competition in the Global Healthcare Information Governance Solution (IGS) Market and are profiled in MRFR Analysis.
Characterized by the presence of several well-established and small players, the global healthcare information governance solution (IGS) Market appears to be highly competitive and fragmented. International players are expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
In September 2016, Dell Inc. acquired EMC Corporation and created a unique family of businesses that would provide some of the essential infrastructure for organizations, so as to build their digital future, transform IT and protect their most important information assets. This combination created a $74 billion market leader with an expansive technology portfolio that could solve complex problems for customers in the industry’s growing areas of hybrid cloud, software-defined data centre, converged infrastructure, platform-as-a-service, data analytics, mobility and cyber security.
In November 2016, nThrive Inc., acquired Adreima, a Downers Grove, Ill.-based provider of patient-centered, clinically-integrated revenue cycle services that help patients find coverage and meet their financial obligations, while partnering with health care providers to optimize revenue cycle functions.
In November 2016, Symantec Corp. and LifeLock, Inc. entered into a definitive agreement for Symantec to acquire LifeLock for $24 per share or $2.3 billion in enterprise value. The deal was approved by the boards of directors of both companies.
In July 2017, Google acquired Halli Labs, a very young start-up based in Bengaluru, India, that was focused on building deep learning and machine learning systems.
Global Healthcare Information Governance Solution (IGS) Market- Segmentation
The global healthcare Information Governance Solution (IGS) market is segmented on the basis of type, deployment, application, and end-user.
- Based on type, the market has been segmented as content management, analytics, information archiving, eDiscovery, information security, and others.
- Based on deployment, the market has been segmented as web and cloud and in-premise. Based on application, the market has been segmented as financials, records, customer support, and others.
- Based on end-user, the market has been segmented into pharmaceuticals and biotechnological industries, hospitals and clinics, consulting companies, research and academics, and others.
Global Healthcare Information Governance Solution (IGS) Market- Regional Analysis
On the regional backgrounds the Americas leads the healthcare information governance solution (IGS) market owing to a well-developed healthcare sector and presence of the developed technologies like U.S. and Canada which have technological backgrounds for facilitating the market growth. Europe is second in the market. Healthcare in Europe is provided through a wide range of different systems which run at the national level. These systems have huge amount of database which require database management and protection. This makes the market to grow within the region. The Asia Pacific region is the fastest growing region due to the developing economies like India and China. The Middle East and Africa have the least market share, especially due to the presence of poor economies within the African region.
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