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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 2024

  • ID: 4774726
  • Report
  • Region: Global
  • 152 Pages
  • Markets and Markets
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The Global Healthcare Contract Management Software Market is Projected to Reach USD 1,763 Million By 2024 from USD 755 Million in 2019, at a CAGR of 18.5%

FEATURED COMPANIES

  • Apttus Corporation
  • CobbleStone Software
  • Concord
  • Contract Logix LLC.
  • Coupa Software Inc.
  • Determine Inc.
  • MORE

The healthcare contract management software market is projected to grow at a CAGR of 18.5%.

Rising demand for contract management software from healthcare providers, the growing need for healthcare insurance providers to efficiently manage an in-depth record of claims and reimbursements is expected to propel the growth of this market. On the other hand, reluctance to switch from conventional methods and the high costs involved for the implementation of this software restrain market growth to a certain extent.

By product and service, the contract lifecycle management software segment accounted for the largest market share of the market.

The contract lifecycle management software segment is expected to account for the largest share of the software market in 2019. The large share of this segment can be attributed to the benefits offered by this software such as the increase in visibility, prevention from litigation issues, efficient compliance, and improves operational efficiency.

The healthcare payers segment is expected to grow at the highest CAGR during the forecast period.

The healthcare payers segment is expected to witness the highest CAGR in the next five years, the high growth rate of this segment can be attributed to the benefits of contract management software such as it helps to increase operational efficiency and reduce contracting risk by transitioning healthcare payer’s operations from manual contract procedures to digital contract process through an effective implementation of contract management software.

APAC is projected to witness the highest growth during the forecast period.

North America is expected to hold the largest share of the healthcare contract management software market in 2019. On the other hand, Asia Pacific is expected to witness the highest growth during the forecast period. The high growth rate of the APAC region can be attributed to the growing trend towards healthcare insurance in Asia Pacific countries, which in turn increase the use of healthcare contract management software by insurance companies to maintain the records of payer contracts. A move towards digitizing the healthcare sector in the APAC region is expected to drive market growth during the forecast period.

The breakdown of primary participants was as mentioned below:

  • By Company Type: Tier 1–30%, Tier 2–45%, and Tier 3–25%
  • By Designation: C-level–30%, Director Level–35%, and Others–35%
  • By Region: North America–35%, Europe–30%, Asia Pacific–25%, Rest f the World–10%

The leading players in this market include Determine Inc. (US), CobbleStone Software (US), Concord (US), Contract Logix LLC(US), Icertis (US), Apttus Corporation (US), Optum Inc. (US), Coupa Software Inc. (US), nThrive Inc. (US), Experian Plc. (Ireland), and ScienceSoft (US).

Research Coverage:

The report analyzes the various contract management software products and their adoption pattern. It aims at estimating the market size and future growth potential of the healthcare contract management software market for different segments such as product & service, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.

This report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the healthcare contract management software market
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the healthcare contract management software market
  • Market Development: Comprehensive information on the lucrative emerging regions by product and service, end user, and region
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the healthcare contract management software market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and products of leading players in the healthcare contract management software market
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Apttus Corporation
  • CobbleStone Software
  • Concord
  • Contract Logix LLC.
  • Coupa Software Inc.
  • Determine Inc.
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Stakeholders
1.6 Limitations

2 Research Methodology
2.1 Research Approach
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.1.2.3 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumption

3 Executive Summary

4 Premium Insights
4.1 Healthcare Contract Management Software: Market Overview
4.2 Asia Pacific: Healthcare Contract Management Software Market, By End User (2018)
4.3 Geographic Snapshot of the Healthcare Contract Management Software Market
4.4 Regional Mix: Healthcare Contract Management Software Market
4.5 Healthcare Contract Management Software Market: Developing Vs. Developed Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Key Market Drivers
5.2.1.1 Growing Need to Increase the Operational Efficiency of Healthcare Organizations While Decreasing Operational Costs
5.2.1.2 Growing Need to Maintain Compliance With Regulatory Mandates
5.2.1.3 High Returns on Investment
5.2.2 Key Market Restraints
5.2.2.1 Reluctance to Switch From Conventional Methods
5.2.2.2 IT Infrastructural Limitations in Developing Countries
5.2.3 Key Market Opportunities
5.2.3.1 Declining Reimbursements and Competitive Rivalry Among Healthcare Payers
5.2.4 Key Market Challenges
5.2.4.1 Security Concerns
5.2.4.2 Dearth of Skilled IT Professionals

6 Industry Insights
6.1 Industry Trends
6.1.1 Growing Preference for Cloud-Based Contract Management Solutions
6.1.2 Chatbots/Intelligent Agents for End-To-End Contract Cycle Management
6.1.3 Growing Demand for Self-Service Features in Contract Management
6.2 Customer Challenges

7 Healthcare Contract Management Software Market, By Product & Service
7.1 Introduction
7.2 Services
7.2.1 Support & Maintenance Services
7.2.1.1 Rising Trend of Outsourcing is Driving the Market for Support & Maintenance Services
7.2.2 Implementation & Integration Services
7.2.2.1 Need to Comply With National Healthcare Safety Network Standards Related to Secure Access Management and the Requirement of Interoperability of Software to Boost Market Growth
7.2.3 Training & Education Services
7.2.3.1 Training & Education Services Increase Healthcare Providers’ Awareness of the Latest Contract Management Solutions Available in the Market
7.3 Software
7.3.1 Contract Lifecycle Management Software
7.3.1.1 Contract Lifecycle Management Software Ensures Increase in Visibility, Prevention From Litigation Issues, and Efficient Compliance
7.3.2 Contract Repository/Document Management Software
7.3.2.1 Contract Repository/Document Management Software is Used to Store Contract Documents and Serve as A Repository for All the Contracts in A Healthcare Organization

8 Healthcare Contract Management Software Market, By End User
8.1 Introduction
8.2 Healthcare Providers
8.2.1 Hospitals
8.2.1.1 Growing Need to Improve the Profitability of Healthcare Operations is Driving the Use of Contract Management Software in Hospitals
8.2.2 Physician Clinics
8.2.2.1 For Physicians, Contract Management Solutions Increase Compliance, Efficiency, and Financial Performance
8.2.3 Other Healthcare Providers
8.3 Healthcare Payers
8.3.1 Payer Contract Management is Vital in Ensuring That Reimbursement is Correctly Issued
8.4 Medical Device Manufacturers and Pharma & Biotech Companies
8.4.1 Need to Adapt to A Changing Regulatory Scenario has Driven Solution Uptake Among Manufacturers and Companies
8.5 Research Organizations
8.5.1 Contracted Clinical Trials and Drug Development Services Require Effective Software Solutions for Management

9 Healthcare Contract Management Software Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 US Dominates the North American Healthcare Contract Management Software Market
9.2.2 Canada
9.2.2.1 Growing Need for Cost Containment in Healthcare to Boost Market Growth
9.3 Europe
9.3.1 Germany
9.3.1.1 Rising Focus on Digitizing the Healthcare System in the Country to Support the Growth of the Contract Management Software Market in Germany
9.3.2 UK
9.3.2.1 Healthcare Providers in the UK are Actively Looking Towards Transforming Their Organizations Into Paperless Environments Through Electronic Ehrs and Contract Management Software
9.3.3 Rest of Europe (RoE)
9.4 Asia Pacific (APAC)
9.4.1 Japan
9.4.1.1 Japan is the Largest Market for Healthcare Contract Management Software in APAC
9.4.2 China
9.4.2.1 Rising Demand for Healthcare Services and Rising Medical Insurance Claims to Support Market Growth
9.4.3 India
9.4.3.1 Growth in the Healthcare Sector and Growing Investments for Modernization of the Country’s Healthcare Infrastructure to Support Market Growth
9.4.4 Rest of Asia Pacific (RoAPAC)
9.5 Rest of the World (RoW)

10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Situation and Trends
10.4.1 New Product Launches
10.4.2 Expansions
10.4.3 Acquisitions
10.4.4 Other Strategies

11 Company Profiles
(Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
11.1 Icertis Inc.
11.2 Apttus Corporation
11.3 CobbleStone Software
11.4 Concord
11.5 Contract Logix LLC.
11.6 Determine Inc.
11.7 Experian PLC.
11.8 nThrive Inc.
11.9 Optum Inc.
11.10 ScienceSoft
11.11 Coupa Software Inc.
* Business Overview, Products and Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
12.1 Insights of Industry Experts
12.2 Market Sizing & Validation Approach
12.3 Discussion Guide
12.4 Knowledge Store: Subscription Portal
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List of Tables (103 Tables)
Table 1 Healthcare Contract Management Software Market Snapshot, 2019 Vs. 2024
Table 2 Market Dynamics: Market Impact
Table 3 Large Healthcare Data Breaches in the US (2010–2018)
Table 4 Market, By Product & Service, 2017–2024 (USD Million)
Table 5 Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 6 Healthcare Contract Management Software Services Market, By Country, 2017–2024 (USD Million)
Table 7 Market for Support & Maintenance Services, By Country, 2017–2024 (USD Million)
Table 8 Market for Implementation & Integration Services, By Country, 2017–2024 (USD Million)
Table 9 Market for Training & Education Services, By Country, 2017–2024 (USD Million)
Table 10 Market, By Software Type, 2017–2024 (USD Million)
Table 11 Market, By Country, 2017–2024 (USD Million)
Table 12 Healthcare Contract Lifecycle Management Software Market, By Country, 2017–2024 (USD Million)
Table 13 Healthcare Contract Repository/Document Management Software Market, By Country, 2017–2024 (USD Million)
Table 14 Market, By End User, 2017–2024 (USD Million)
Table 15 Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 16 Market for Healthcare Providers, By Country, 2017–2024 (USD Million)
Table 17 Market for Hospitals, By Country, 2017–2024 (USD Million)
Table 18 Market for Physician Clinics, By Country, 2017–2024 (USD Million)
Table 19 Market for Other Healthcare Providers, By Country, 2017–2024 (USD Million)
Table 20 Market for Healthcare Payers, By Country, 2017–2024 (USD Million)
Table 21 Market for Medical Device Manufacturers and Pharma & Biotech Companies, By Country, 2017–2024 (USD Million)
Table 22 Market for Research Organizations, By Country, 2017–2024 (USD Million)
Table 23 Market, By Region, 2017–2024 (USD Million)
Table 24 North America: Market, By Country, 2017–2024 (USD Million)
Table 25 North America: Market, By Product & Service, 2017–2024 (USD Million)
Table 26 North America: Market, By Software Type, 2017–2024 (USD Million)
Table 27 North America: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 28 North America: Market, By End User, 2017–2024 (USD Million)
Table 29 North America: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 30 US: Key Macro indicators
Table 31 US: Market, By Product & Service, 2017–2024 (USD Million)
Table 32 US: Market, By Software Type, 2017–2024 (USD Million)
Table 33 US: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 34 US: Market, By End User, 2017–2024 (USD Million)
Table 35 US: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 36 Canada: Key Macro indicators
Table 37 Canada: Market, By Product & Service, 2017–2024 (USD Million)
Table 38 Canada: Market, By Software Type, 2017–2024 (USD Million)
Table 39 Canada: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 40 Canada: Market, By End User, 2017–2024 (USD Million)
Table 41 Canada: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 42 Europe: Market, By Country, 2017–2024 (USD Million)
Table 43 Europe: Market, By Product & Service, 2017–2024 (USD Million)
Table 44 Europe: Market, By Software Type, 2017–2024 (USD Million)
Table 45 Europe: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 46 Europe: Market, By End User, 2017–2024 (USD Million)
Table 47 Europe: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 48 Germany: Key Macro indicators
Table 49 Germany: Market, By Product & Service, 2017–2024 (USD Million)
Table 50 Germany: Market, By Software Type, 2017–2024 (USD Million)
Table 51 Germany: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 52 Germany: Market, By End User, 2017–2024 (USD Million)
Table 53 Germany: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 54 UK: Key Macro indicators
Table 55 UK: Market, By Product & Service, 2017–2024 (USD Million)
Table 56 UK: Market, By Software Type, 2017–2024 (USD Million)
Table 57 UK: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 58 UK: Market, By End User, 2017–2024 (USD Million)
Table 59 UK: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 60 RoE: Market, By Product & Service, 2017–2024 (USD Million)
Table 61 RoE: Market, By Software Type, 2017–2024 (USD Million)
Table 62 RoE: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 63 RoE: Market, By End User, 2017–2024 (USD Million)
Table 64 RoE: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 65 APAC: Market, By Country, 2017–2024 (USD Million)
Table 66 APAC: Market, By Product & Service, 2017–2024 (USD Million)
Table 67 APAC: Market, By Software Type, 2017–2024 (USD Million)
Table 68 APAC: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 69 APAC: Market, By End User, 2017–2024 (USD Million)
Table 70 APAC: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 71 Japan: Key Macro indicators
Table 72 Japan: Market, By Product & Service, 2017–2024 (USD Million)
Table 73 Japan: Market, By Software Type, 2017–2024 (USD Million)
Table 74 Japan: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 75 Japan: Market, By End User, 2017–2024 (USD Million)
Table 76 Japan: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 77 China: Key Macro indicators
Table 78 China: Market, By Product & Service, 2017–2024 (USD Million)
Table 79 China: Market, By Software Type, 2017–2024 (USD Million)
Table 80 China: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 81 China: Market, By End User, 2017–2024 (USD Million)
Table 82 China: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 83 India: Key Macro indicators
Table 84 India: Market, By Product & Service, 2017–2024 (USD Million)
Table 85 India: Market, By Software Type, 2017–2024 (USD Million)
Table 86 India: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 87 India: Market, By End User, 2017–2024 (USD Million)
Table 88 India: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 89 RoAPAC: Market, By Product & Service, 2017–2024 (USD Million)
Table 90 RoAPAC: Market, By Software Type, 2017–2024 (USD Million)
Table 91 RoAPAC: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 92 RoAPAC: Market, By End User, 2017–2024 (USD Million)
Table 93 RoAPAC: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 94 RoW: Market, By Product & Service, 2017–2024 (USD Million)
Table 95 RoW: Market, By Software Type, 2017–2024 (USD Million)
Table 96 RoW: Healthcare Contract Management Software Services Market, By Type, 2017–2024 (USD Million)
Table 97 RoW: Market, By End User, 2017–2024 (USD Million)
Table 98 RoW: Market for Healthcare Providers, By Type, 2017–2024 (USD Million)
Table 99 Healthcare Contract Management Software: Market Ranking Analysis
Table 100 New Product Launches, January 2016 – April 2019
Table 101 Expansions, January 2016–April 2019
Table 102 Acquisitions, January 2016–April 2019
Table 103 Other Strategies, January 2016–April 2019

List of Figures (28 Figures)
Figure 1 Healthcare Contract Management Software: Market
Figure 2 Research Design
Figure 3 Data Triangulation Methodology
Figure 4 Healthcare Contract Management Software: Market, By Product and Service, 2019 Vs. 2024 (USD Million)
Figure 5 Healthcare Contract Management Software: Market, By Software Type, 2019 Vs. 2024 (USD Million)
Figure 6 Healthcare Contract Management Software: Market, By Service, 2019 Vs. 2024 (USD Million)
Figure 7 Healthcare Contract Management Software: Market, By End User, 2019 Vs. 2024 (USD Million)
Figure 8 Healthcare Contract Management Software: Market for Healthcare Providers, By Type, 2019 Vs. 2024 (USD Million)
Figure 9 Geographical Snapshot of the Healthcare Contract Management Software: Market
Figure 10 Growing Need to Reduce Operational Costs is Expected to Drive Market Growth
Figure 11 Healthcare Providers Commanded the Largest Share of the APAC Healthcare Contract Management Software: Market in 2018
Figure 12 US Accounted for the Largest Share of the Market in 2018
Figure 13 Asia Pacific Market to Witness the Highest Growth During the Forecast Period
Figure 14 Developing Countries to Register Higher Growth During the Forecast Period
Figure 15 Number of Data Breaches in the US (2009–2018)
Figure 16 Cloud Adoption in the US Health Sector (2016)
Figure 17 Customer Challenges Related to Manual Contract Management
Figure 18 Software Segment to Witness the Highest Growth in the Healthcare Contract Management Market During the Forecast Period
Figure 19 Healthcare Payers Segment to Witness the Highest Growth During the Forecast Period
Figure 20 North America: Healthcare Contract Management Software Market Snapshot
Figure 21 Europe: Healthcare Contract Management Software Market Snapshot
Figure 22 APAC: Healthcare Contract Management Software Market Snapshot
Figure 23 Product Launches— Key Growth Strategies Adopted By Market Players From 2016 to April 2019
Figure 24 Healthcare Contract Management Software Market: Competitive Leadership Mapping (2018)
Figure 25 Determine Inc.: Company Snapshot (2018)
Figure 26 Experian PLC.: Company Snapshot (2018)
Figure 27 Optum Inc.: Company Snapshot (2018)
Figure 28 Coupa Software Inc.: Company Snapshot (2018)

Note: Product cover images may vary from those shown
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  • Apttus Corporation
  • CobbleStone Software
  • Concord
  • Contract Logix LLC.
  • Coupa Software Inc.
  • Determine Inc.
  • Experian PLC.
  • Icertis Inc.
  • Optum Inc.
  • ScienceSoft
  • nThrive Inc.
Note: Product cover images may vary from those shown
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