Key players Healthcare Contract Management Software Market include Determine Inc. (US), CobbleStone Software (US), Concord (US), Contract Logix LLC (US), Icertis (US), Apttus Corporation (US), Optum Inc. (US), nThrive Inc. (US), Experian Plc. (Ireland), Coupa Software Inc. (US), and ScienceSoft (US).
Different Growth Strategies Adopted:
Key players are focusing on increasing their presence in this high-growth market through both organic as well as inorganic growth strategies, such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions. Due to the intense competition in this market, major market players are increasingly focusing on expanding their geographic presence in high-growth emerging markets and strengthening their competitiveness in the market by acquiring smaller players with desired manufacturing capabilities or geographic presence.
Icertis (US) was the leading player in the healthcare contract management software market and accounted for the largest share in 2018. The company offers advanced product offerings, which include cloud-based contract lifecycle management software. Icertis’s position in the market can be attributed to its active R&D activities and wide distribution footprint across the world.
To garner a large share of the healthcare contract management software market, the company continuously focuses on geographic expansion. For instance, in October 2018, the company opened two new offices in Sydney and Singapore to meet the rising market demand. Similarly, in June 2018, Icertis opened a new support center in Sofia, Bulgaria, to strengthen their business growth in the European market.
Apttus (US) held the second-largest share of the healthcare contract management software market. Its position in the market can be attributed to its strong product portfolio and strong distribution channel across the world. To maintain its position in the market, the company focuses on expanding its product portfolio through strategies such as product launches and agreements.
For instance, in September 2018, the company entered into an agreement with Thoma Bravo, LLC. (US), a private equity investment firm. Under the agreement, Thoma Bravo will acquire a majority interest in Apttus. Through this agreement, Apttus enhanced its company’s growth and was also able to take advantage of huge market opportunities.
Geographical Growth Scenario:
The APAC region is expected to grow at the fastest rate during the forecast period
The healthcare contract management software market in APAC is expected to grow at the highest CAGR during the forecast period. A majority of this growth is driven by the increasing need for complete transparency, rapid return on investment (ROI), and high level of data security, and increasing demand for effective contract management software.
A number of healthcare organizations in Asia are actively moving towards digitization to streamline their entire workflow and ensure patient care and safety that resulted in an increased demand for contract management software to keep the record of patient contracts and patient transfer agreements.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
