Europe Healthcare IT Outsourcing Market By Product Type (Provider (EHR, PIS, LIS, RIS, PACS, RCM, Others), Payer (Customer Management Systems, Claim Processing, Fraud Detection, Others), Life Sciences HCIT (CTMS, CDMS, ERP, Others), Operational HCIT (SCM, Business Process Outsourcing), HCIT Infrastructure (Cloud Services, Management Services)), By End User (Provider, Payer, Pharma & Biotech, Clinical Research Organization, Others), By Country (Germany, France, U.K., Spain, Italy, Russia, Belgium, Turkey, Switzerland, Netherlands) – Industry Trends and Forecast to 2024
The European healthcare IT outsourcing market is expected to grow at a CAGR of 7.5% from 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The major and developed healthcare market is facing the challenge to curb with the rising cost of healthcare expenditure; to achieve this healthcare market is turning to management technologies and services. Healthcare providers are expected to lead the market and grow with the highest CAGR in the forecast period. This is owing to the gap in healthcare technology among providers, also the paradigm shift after affordable care act and value based reimbursement models all development in HCIT market will fuel the growth of provider HCIT outsourcing market.
The Europe healthcare industry, generate enormous amount of data. Healthcare industry requires electronic tracking devices/system to maintain the medical records, there billing information and to track information of patients. In order to maintain this data the healthcare industry requires the strong information technology services. This has resulted in an extraordinarily increased demand of IT infrastructure, which had helped them in keeping attention on their core service area.
The report segments the Europe healthcare IT outsourcing market based on product type and end-users.
By product type the healthcare IT outsourcing segments the products based on their area of usage into provider HCIT, payer HCIT, life sciences HCIT, HCIT infrastructure and operation HCIT. The provider HCIT products include electronic health records, pharmacy information systems, laboratory information systems, radiology information systems, picture archiving and communication systems, revenue cycle management and others. Payer HCIT market includes products such as customer management systems, claim processing, fraud detection and, others. Life science HCIT market includes customer management systems, claim processing systems, billing systems, fraud detection and others. Operational HCIT includes products such as supply chain management, business process management and others. HCIT infrastructure outsourcing in the healthcare IT outsourcing market includes products such as infrastructure management systems, cloud and others.
Based on the end-users of Europe HCIT outsourcing the market is segmented into 5 segments healthcare providers, healthcare payers, pharma and biotech, clinical research organizations and others. Healthcare providers include all healthcare facilities such as physician clinics, hospitals, radiology labs, clinical labs, pharmacies among others. Healthcare payers mainly constitute of the healthcare insurance companies public and private. Pharma and biotech companies and clinical research organizations forms a significant part of this market.
Based on geography the Europe healthcare IT outsourcing market is segmented into 11 countries, Germany, France, U.K., Spain, Italy, Russia, Belgium, Turkey, Switzerland, Netherland and Rest of Europe. U.K. is the costliest as it spends maximum share of its GDP In healthcare as compared to other European countries. U.K. is expected to be the highest growing market for healthcare IT in Europe. While Germany is the dominant market in terms of value due to its largest spending in EU union on healthcare. France is one of the other nations that is doing extremely well in Healthcare IT acceptance.
The players in this market are using mergers, acquisition and development of technology as penetration strategies. The report also includes new developments, future technological advancements, recent strategically decisions, expansions and product launches. The key players in the Europe healthcare IT outsourcing market are Mckesson Corporation, Accretive Health, Inc., HCL Technologies, Inc., Anthelio Healthcare Solutions, Hewlett-Packard, Allscripts., Accenture Plc., Cognizant Technology Solutions, Dell, Inc., IBM Corporation, Infosys Limited, Siemens Healthcare, Tata Consultancy Services, Ltd., Wipro and Xerox Corporation among others.