Global Healthcare IT Market is estimated to value over USD 387.81 billion by 2026 end and register a CAGR of over 15.5% during the forecast period 2019 to 2026.
The increasing patient data volume, technological advancements and insistence for efficient and quick healthcare systems and processes are steering the insistence for healthcare IT solutions, thus assisting in the overall healthcare IT market growth.
The healthcare provider solutions are predicted to proliferate with the highest growth rate during the forecast period. This can be credited to the initiatives taken by the government to improving the patient care quality and the necessity to curb rising healthcare expenditure and improvements in the healthcare service efficiency.
The Non-Clinical Solutions Segment to Register a High Value of CAGR Over the Forecast Period
The non-clinical solutions segment is projected to dominate the global market during the forecast period. Innovative technologies in IT have resulted in the development of tailored software platforms that function according to the requirements of healthcare providers. Such developments are stimulating the utilization of healthcare IT solutions amongst several end users. Additionally, the reimbursement reduction, revenue loss owing to a dearth of systematic documentation and strict governmental regulations for effective management are steering the market growth.
The Asia Pacific region is predicted to proliferate with a high value of CAGR over the forecast period. Factors like the large patient population in India and China, increased per capita income, key market players immensely investing in the healthcare sector and increasing awareness pertaining to novel technologies are steering the market growth in the region.
Key market players included in the healthcare IT industry are Optum, Cerner Corp., Cognizant, Change Healthcare, Philips, EPIC Systems Corp., del Technologies, Allscripts, Athenahealth, General Electric, Conduent, Conifer, Nuance, 3M, Oracle, IBM, Inovalon, Infor, Intersystems, Tata Consultancy Services.
Cerner, in April 2017, announced a collaboration with NeuroLogix Technologies for integrating Cerner’s HealtheAthlete health management system with the C3Logix concussion management system. This aided the company in improving the quality of services offered to athletes. In order to attain an edge on the competition, Cerner also offers their high-value services and solutions at affordable costs to physician practices, critical access hospitals and smaller community hospitals.
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Global Healthcare IT Market Segmentation:
By Product & Service
• Healthcare Provider Solutions
• Healthcare Payer Solutions
• HCIT Outsourcing Services
By Component
• Introduction
• Services
• Software
• Hardware
By End User
• Healthcare Providers
• Healthcare Payers
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global healthcare IT market by product & service, by component, by end user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
• To forecast and evaluate micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
• To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers
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