Given that governments all over the world promote a robust healthcare management system, the Healthcare information governance solution (IGS) is likely to gather momentum in the forthcoming years. While IGS is aimed at converting information as business asset, it is also utilized to ensure compliance and reduce cost. Stricter norms along with rising cost of legal risk is prompting healthcare companies to seek for information governance solutions.
Demand for healthcare IGS is rising substantially as users realises it advantages. Market Research Future (MRFR) projects that the global healthcare IGS market will grow at a staller CAGR of 16.7% during the forecast period (2017-2023).
Information technology is playing an important role in transforming the healthcare sector. Healthcare information governance solution (IGS) is one of the major outcomes of this integration. Healthcare IGS facilitate faster implementation of processes, boots metrics, and streamline controls. The growing trend of healthcare digitization has led to the generation of vast amount of data, which requires effective management. This is possible using healthcare IGS. These solutions allow medical services provider’s better leverage patient information through a systematic format.
Factors such as rising penalties for noncompliance, growth of data-driven sub-markets such as pharmaceuticals and biotechnology, growing need for data management in healthcare, rapid adoption of IT solutions in healthcare are driving the global healthcare information governance solution (IGS) market. Efforts are also being made to reduce to cost of the solution in order to expand the user base and penetrate price-sensitive markets. Some of the other fundamental bottlenecks that are yet too addressed include fragmented data structures, poor compatibility with traditional organization structures and culture of secrecy.
Segmental Overview
MRFR’s report includes a comprehensive segmental analysis of the global healthcare information governance solution (IGS) market, which is conducted on the basis of deployment, application, type and end-user.
On the basis of deployment, the market has been segmented into in-premise and as web and cloud. Based on application, the market has been segmented into customer support, financials, records and others. By type, the market has been segmented into analytics, eDiscovery, content management, information security, information archiving and others. On the basis of end-user, the market has been segmented into hospitals and clinics, research and academics, pharmaceuticals and biotechnological industries, consulting companies and others.
Competitive Landscape
Some of the notable companies operating in the global healthcare information governance solution (IGS) include HP Autonomy (England), Information Governance Solutions, LLC. (U.S.), Google (U.S.), Hewlett Packard Enterprise Development LP (U.S.), NovaDigm Therapeutics (U.S.), Electronic Medicines Compendium (U.S.), Veritas Technologies (U.S.), Symantec Corporation (U.S.), Microsoft (U.S.), FTI Consulting, Inc. (U.S.) and iDiscovery Solutions, Inc. (U.S.)