Regional Analysis
Global Medical Terminology Software Market- Regional Insights
- North America is expected to be the largest market for medical terminology software during the forecast period, accounting for over 40.5% of the market share in 2023. The growth of the market in North America is attributed to due to increasing collaborations by market players in the region. For instance, Oon April 18, 2023, 3M,a conglomerate company, collaborated with Amazon Web Services (AWS) to accelerate the innovation and advancement of 3M M*Modal ambient intelligence. This collaboration accelerate the AI innovation in clinical documentation.
- Europe is expected to be the second-largest market for medical terminology software, accounting for over 32.2% of the market share in 2023. The growth of the market is attributed to rising healthcare expenditure, stringent regulations, and increasing focus on patient safety and care quality in the region.
- Asia Pacific is expected to be the fastest-growing market for medical terminology software, with a CAGR of over 19.3% during the forecast period. The growth of the market in Asia Pacific is attributed to the improving healthcare IT infrastructure, growing medical tourism, and increasing focus on value-based care in the region.
Figure 1. Global Medical Terminology Software Market Share (%), By Region, 2023
| Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
|
U.S.: 
U.K. : 
India : 