Europe Healthcare IT Market is anticipated to grow at a lucrative CAGR in the assessment period. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The major factors contributing to the growth of the market includes factors such as need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases. On the other hand, issues in information exchange, high installation & maintenance cost and lack of skilled expertise are hampering the market growth.
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Key Points: Europe Healthcare IT Market
Epic Systems Corporation is going to dominate the Europe healthcare IT market followed by McKesson Corporation, Cerner Corporation, Allscripts, Carestream Health and Siemens AG.
• The HCIT outsourcing services segment is dominating the Europe healthcare IT market.
• Providers segment is expected to grow with the highest CAGR in the forecast period 2018 to 2025.
Market Segmentation: Europe Healthcare IT Market
• The Europe healthcare IT market is segmented on the basis of products & services into HCIT outsourcing services, healthcare provider solutions and healthcare payer solutions. In 2018, HCIT outsourcing services are expected to dominate the healthcare IT market and growing at the highest CAGR in the forecast period 2018 to 2025. The healthcare provider solutions are further segmented on the basis of clinical solutions and non-clinical solutions.
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• The clinical solutions are further sub segmented into electronic health records medical image processing and analysis systems, picture archiving and communication systems, radiology information systems, laboratory information systems, vendor neutral archive, computerized physician order entry, clinical decision support systems, specialty management information systems, healthcare IT integration systems, practice management systems, radiation dose management and others.
• The Europe healthcare IT market is segmented based on end users into providers and payers. In 2018, providers segment is estimated to rule with 84.1% shares and will cross USD 47,465.85 million by 2025, rising at the highest CAGR in forecast period.
• Providers are further sub segmented into hospitals, home healthcare, diagnostic centres, ambulatory surgical centres and pharmacies. Payers are further sub segmented into public and private.
• The Europe healthcare IT market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market
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Key Drivers: Europe Healthcare IT Market
Some of the major factors driving the market for Europe healthcare IT market are need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases.
Issues in information exchange, high installation & maintenance cost and lack of skilled expertise for healthcare IT hampering the growth of the market. The non-clinical solutions are also sub segmented into healthcare information exchange, revenue cycle management solutions, financial management systems, population health management solutions, medical document management solutions, pharmacy information systems, workforce management systems and healthcare analytics.
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