Market Overview
HealthcareIT market is all set to capture a decent growth rate of around 15% between 2020and 2027 (appraisal period), reveals Market Research Future (MRFR).
Growth Drivers and Deterrents
Increasedfocus on preventive care and the rising spending on several mobile health start-upshave been favorable for the healthcare IT industry. The mounting networkcoverage along with the surging advances in network infrastructure also add tothe market value. Technological innovations, with respect to healthcare IT andits infrastructure, including the implementation of IoT, big data and AI in multipleprocesses are significant growth boosters. Patients’ demand for better and moreefficient treatment combined with the growing awareness about the upgraded and thelatest technologies can enhance the market share in the ensuing period.
Thetotal number of smartphone owners crossed the five billion mark by the year2019 and continues to mount at a rapid pace. Over four billion individualsworldwide, at any given point of time, use the Internet and are increasinglybecome aware of the benefits that digital healthcare has to offer. Doctors andother healthcare professionals are progressively adopting virtual-reality toolsto either boost their medical skills or develop plans for a complicatedsurgery. These factors are bound toelevate the market position worldwide during the evaluation period.
Leading Vendors
Thestrongest contenders in the global market for healthcare IT include CernerCorporation (U.S.), Oracle Corporation (U.S.), Infor, Inc. (U.S.). CognizantTechnology Solutions Corporation (U.S.), Spok Inc. (U.S.), Epic SystemsCorporation (U.S.), Dell Technologies (U.S.), McKesson Corporation (U.S.), McKessonCorporation, (U.S.), United Healthcare Group (U.S.), athenahealth, Inc. (U.S.),Koninklijke Philips N.V. (The Netherlands), Wolters Kluwer (Netherland), IBM(U.S.), 3M health Information Systems (U.S.), Allscripts Healthcare Solutions,Inc. (U.S.), Kronos Incorporated (U.S.), GE Healthcare (UK), Orion Health (NewZealand), CSI Healthcare IT (U.S.), Syntel Inc. (U.S.), Anthelio HealthcareSolutions Inc. (U.S.), Lexmark Healthcare (U.S.), Conifer Health Solutions(U.S.), and many more.
Regional Insight
TheAmerican market for healthcare IT is in the lead, primarily due to the large-scalehealthcare expenditure coupled with the frequent deployment of the latest medicaltechnologies. The US market should perform incredibly well in the coming years,thanks to the soaring need to follow the strict regulatory guidelines,government efforts with respect to eHealth, and the growing need to curb the mountinghealthcare costs.
Europecould be the second strongest contender in the global market, owing to therising pressure to bring down the huge healthcare costs coupled with thefrequent technological advances in terms of IT in the healthcare industry. Localfirms’ efforts to bolster their solution and service portfolio for enhancedprofit margins could also work in favor of the European market in the years tocome.
AsiaPacific could attain the fastest CAGR in the coming years, with the rapiddevelopment in healthcare infrastructure paired with the expanding number ofhealthcare IT firms in China and India. Increasing funds obtained by theresearch and development centers, rise in reforms that aim to improve thehealthcare infrastructure and the financial assistance provided by thegovernment can further warrant significant prospects for the APAC market.
Read more @ https://www.marketresearchfuture.com/reports/healthcare-it-market-5950
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