Universal Healthcare IT market research report is one of the key factors used in maintaining competitiveness over competitors. The industry report also comprises of reviews about key players, major collaborations, mergers & acquisitions along with trending innovations and business policies. For the market segmentation study conducted in this report, a market of potential customers is divided into groups or segments based on different characteristics such as application of product, deployment model, end user and geographical region etc. An international Healthcare IT market report brings together precise and accurate market research information that drives business into the right direction.
Short Summary Healthcare IT Market:
Data Bridge Market Research analyses that the healthcare information technology (IT) market is expected to undergo a CAGR of 16.35% during the forecast period. This indicates that the market value, which was USD 326.1 billion in 2021, would rocket up to USD 1,095.17 billion by 2029.
Information technology has revolutionized the healthcare industry pertaining to the application of medical equipment, medical technology and medical devices. Information technology has helped the healthcare industry to manage their high volume of unstructured data and maintain the inventory of details and records. “Healthcare Provider Solutions” dominates the product segment of the healthcare information technology (IT) market owing to the need to control the growing healthcare costs and improve the efficiency of healthcare services by reducing medical errors. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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This promotional report is structured with the meticulous efforts of an innovative, enthusiastic, knowledgeable, and experienced team of analysts, researchers, industry experts, and forecasters. With the studies, insights, and analysis mentioned in the widespread Healthcare IT market report, clients get a comprehensible idea about the marketplace with which users can take business decisions quickly and easily.
The large scale Healthcare IT business report endows with complete market analysis and forecasting, market definition, market drivers and market restraints, market share, market segmentation and analysis of key players in the market. Emerging product trends, major drivers, challenges and opportunities in the market are identified and analysed apparently while generating this marketing document. Clients accomplish unparalleled insights and acquaintance of the best market opportunities into their respective markets from this market report. The credible global Healthcare IT market report offers wide-ranging statistical analysis of the market’s continuous positive developments, capacity, production, production value, cost/profit, supply/demand and import/export about the Healthcare industry.
Launch of Innovative Products by Key Players to Global Market - Healthcare IT Market
The healthcare information technology (IT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare information technology (IT) market.
Some of the major players operating in the healthcare information technology (IT) market are Allscripts Healthcare, LLC (US), Epic Systems Corporation (US), McKesson Corporation (US), Cerner Corporation (US), Siemens Healthcare GmbH (Germany), Carestream Health (US), Agfa-Gevaert Group (Belgium), athenahealth, Inc. (US), eClinicalWorks (US), GENERAL ELECTRIC (US), GREENWAY HEALTH, LLC. (US), Infor (US), Koninklijke Philips N.V. (Netherlands), NXGN Management, LLC (US), Oracle (US), Siilo (Netherlands), BigHealth (US), Vida Health (US), SWORD Health (US), NOVIGENIX SA (Switzerland), Lantum (UK), BD (US), Bioaxis (India) and Ada Health GmbH (Germany) among others.
Get More Valuable Insights - Segmentation - Healthcare IT Market
The healthcare information technology (IT) market is segmented on the basis of product and services, components, delivery mode and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product and services
Healthcare Provider Solutions
Healthcare Payer Solutions
Healthcare Information Technology Outsourcing Services
On the basis of product and services, the healthcare information technology (IT) market is segmented into healthcare provider solutions, healthcare payer solutions, and healthcare information technology outsourcing services. Healthcare provider solutions are further sub-segmented into clinical solutions and non-clinical solutions. Clinical solutions are divided into PACS and VNA, e-prescribing system, computerized physician order entry, clinical decision support system (CDSS), electronic health record (EHR), specialty information management systems, patient engagement solutions, radiology information systems (RIS), radiation dose management solutions, medical image analysis systems, care management systems, heath solutions, patient registry software, laboratory information systems, infection surveillance solutions, telemedicine, population health management solutions, healthcare information technology integration systems, and practice management systems.
Non-clinical solutions are divided into healthcare workforce management solutions, medical document management solutions, healthcare asset management solutions, pharmacy information systems, healthcare analytics, revenue cycle management solutions, healthcare information exchanges, medication management solutions, supply chain management solutions, healthcare interoperability solutions, customer relationship management solutions, financial management systems and healthcare quality management solutions. Healthcare payer solutions are further sub-segmented into claims management solutions, fraud analytics solutions, pharmacy audit and analysis solutions, member eligibility management solutions, provider network management solutions, population health management solutions, customer relationship management solutions, and payment management solutions.
The healthcare information technology outsourcing services are further sub-segmented into provider healthcare information technology outsourcing services, operational healthcare information technology outsourcing services, payer healthcare information technology outsourcing services, IT infrastructure management services. Provider healthcare information technology outsourcing services are divided into revenue cycle management services, laboratory information management services, EMR/medical document management services and others. Operational healthcare information technology outsourcing services are divided into business process management services, supply chain management services and others. Payer healthcare information technology outsourcing services are divided into claims management services, billing and accounts management services, fraud analytics services, provider network management services, and others.
On the basis of components, the healthcare information technology (IT) market is segmented into services, software, and hardware.
On the basis of delivery mode, the healthcare information technology (IT) market is segmented into on-premise and cloud-based.
On the basis of end-users, the healthcare information technology (IT) market is segmented into providers and payers. Providers are further sub-segmented into ambulatory centers, diagnostic centers, home healthcare and assisted living centers, hospitals, and pharmacies. Payers are further sub-segmented into private payers and public payers.
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Healthcare Information Technology (IT) Market Dynamics
The rise in the prevalence of diseases
Surging prevalence of chronic and acute diseases all around the globe is one of the major factors responsible for fostering growth in the market value. Growing number of surgical procedures, rising awareness about the benefits of robotically assisted medical surgeries and surging number of road accidents are all responsible for boosting the market growth rate.
Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities is also bolstering the market growth rate.
Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments involved with healthcare IT solutions will also work in the favour of the market.
Additionally, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and surge in demand for telehealth and mHealth solutions from the large number of smartphone users, positively affect the market growth rate.
Furthermore, upsurge in the public-private funding for target research activities, increasing levels of hospital data, increasing awareness regarding minimally invasive surgical procedures among patients and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Geographical Zones For The Market
The healthcare information technology (IT) market is analysed and market size insights and trends are provided by country, product and services, components, delivery mode and end-users as referenced above.
The countries covered in the healthcare information technology (IT) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the healthcare information technology (IT) market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, growing number of processes pertaining to drug development, and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, and the growing demand for quality healthcare in the region.
COVID-19 Impact on Healthcare Information Technology (IT) Market
COVID-19 has significantly and positively impacted the market. Though on one side, there was a huge drop in the number of non-elective and non-essential surgical procedures, on the other hand, digital health area saw a huge spurt especially driven by digitization. Growing adoption of teleconsultation and mobile health solutions further carved the way for the growth of the market in this pandemic phase.
- In October 2020, Microsoft launched a Microsoft Cloud for Healthcare, which includes managed services, such as Azure, Microsoft 365, Dynamics 365, Power Platform, and partner solutions, to support healthcare firms.
The Healthcare IT Market Report gives answers to the following questions:
- What market segments are covered in the Healthcare IT Market report?
- Who are the major players operating in the Healthcare IT Market?
- What is the future market value for the Healthcare IT Market?
- What is the growth rate of the Healthcare IT Market?
- What are the major countries covered in the Market?
- Which are the major market drivers for Healthcare IT Market?
- What are the upstream raw materials and manufacturing equipment of Healthcare IT along with the manufacturing process of Healthcare IT?
- Economic impact on the Healthcare IT industry and development trend of the Healthcare IT industry.
- What are the market opportunities, market risk, and market overview of the Healthcare IT market?
Major Points Covered in Table of Contents
- An Overview of the Global Healthcare IT Market Industry
- Manufacturers’ Market Share Production Market Share by Regions
- Consumption in Different Regions
- Trends in Production, Revenue, and Price by Type
- Analysis of the Global Healthcare IT Market by Applications
- Global Healthcare IT Market Industry Company Profiles and Key Figures Healthcare IT Market Manufacturing Cost Analysis
- Customers, Distributors, and Marketing Channel
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Customization Available: Global Healthcare IT Market
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