According to a new market research report published by Credence Research “MES & ECQM Market (Solution Type – Managed Equipment Services, Enterprise Compliance and Quality Management Software) – Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 – 2023”, the global MES & ECQM market is estimated to expand with a CAGR of 14.8% from 2016 to 2023.
Healthcare industry worldwide is witnessing robust transformation in terms of advanced technology and demand for more sophisticated treatment. Healthcare facilities are now more focused towards adopting cutting-edge technology/medical devices so as to deliver better service to their patients. However, with the rising demand for advanced medical devices and other technology products, it becomes hassling for the facilities to maintain and upgrade their equipment.
Managed equipment service (MES) refer to a suite of services that include managing procurement, financing, maintenance and other related to services. The most significant factor fueling the MES market growth is the overall rising healthcare industry along with the penetration of high-tech medical devices, globally. Additionally, stringent quality control guidelines enforced by regulatory authorities and government regulations is another factor driving the market growth.
Enterprise compliance and quality management are software solutions that are used to manage different processes in an organizations such as audit, training, compliance information, complaint handling, document sharing and others. Using ECQM solutions helps organizations achieve better process flow thereby enhancing the output. Healthcare has emerged as highly competitive and dynamic industry in the recent years. Thus, it becomes difficult for healthcare organizations across life sciences, pharmaceuticals and medical devices segments to maintain quality and meet the regulatory norms. Subsequently, many healthcare organizations have adopted ECQM solutions in order to maintain optimum quality and comply with the government regulations.
The MES & ECQM market is highly competitive in nature with solution vendors focusing on providing flexible, scalable and customized solutions to their customers. The most prominent concern for the solution vendors is to continuously provide their customers with updated solutions covering the latest industry standards. Major companies offering the ECQM software solutions include Pilgrim Quality Solutions, Inc., MetricStream, Inc., Sparta Systems, Inc. and others. Major players operating in the MES market include Toshiba Medical Systems Europe B.V., Siemens Healthcare GmbH, GE Healthcare and AssurX, Inc. among others.
- Focus on providing updated solutions
- Long term service agreements with healthcare organizations
- Incorporating tools such as data analytics, mobility and providing cloud-based solutions
- Providing custom solutions for healthcare organizations