The Growth in this market is driven by the using consistent, standardized clinical terminology to help medical practitioners access and understand clinical data found in healthcare applications, government initiatives to adopt HCIT solutions, and fragmentation in terms of medical content & infrastructure. However, high cost of infrastructure & maintenance in developing countries are expected to restrain market growth to a certain extent.
Medical Terminology Software Market is projected to reach USD 2.5 billion by 2027 from an estimated USD 1.0 billion in 2022, at a CAGR of 19.3% during the forecast period, according to a new report by MarketsandMarkets™.
