Global Healthcare Information Technology (IT) Market, By Product and Services (Healthcare Provider Solutions, Healthcare Payer Solutions, HCIT Outsourcing Services), Components (Services, Software, Hardware), Delivery Mode (On-Premise, Cloud-Based), End-Users (Providers, Payers), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Healthcare Information Technology (IT) Market
Data Bridge Market Research analyses that the healthcare information technology (IT) market to be grow at a CAGR of 15.85% in the forecast period of 2021-2028 and is expected to reach the USD 703.76 billion by 2028.
Healthcare information technology, often known as healthcare IT, is an area of information technology that deals with the development, design and maintenance of information systems in clinics, hospitals, and other healthcare institutions. Healthcare information technology reduces the risk of medical records being misplaced and allows healthcare practitioners to obtain patient health reports from a variety of places. Human errors can be reduced, clinical outcomes can be improved, better care coordination can be facilitated, healthcare practise efficiencies can be improved, and data can be tracked effectively with the healthcare IT market trends.
The upsurge in the use of big data and growing need to decrease escalating healthcare costs are the major factors influencing the growth of healthcare information technology (IT) market. Furthermore, upsurge in the adoption rate of telehealth, e-prescribing, mHealth, and other HCIT solutions due to COVID-19 and increase in the government mandates and support for healthcare IT solutions are the driving factors accelerating the growth of the healthcare information technology (IT) market. Also, increasing geriatric population, rise in the prevalence of chronic diseases and high return on investments involved with healthcare IT solutions will cushion the market’s growth rate.
Moreover, growing utilization of healthcare IT solutions in outpatients care facilities and the rise in the preferences towards patient-centric healthcare delivery will further provide beneficial opportunities for the market growth.
However, high costs associated with the deployment of HCIT solutions for small and medium sized hospitals, resistance from traditional healthcare providers and IT infrastructural constraints in emerging economies will obstruct the market growth. The rise in the concerns associated with security and interoperability problems will challenge the healthcare information technology (IT) market.
This healthcare information technology (IT) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on healthcare information technology (IT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Healthcare Information Technology (IT) Market Scope and Market Size
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 analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product and services, the healthcare information technology (IT) market is segmented into healthcare provider solutions, healthcare payer solutions, and HCIT 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, HCIT 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. HCIT outsourcing services are further sub-segmented into provider HCIT outsourcing services, operational HCIT outsourcing services, payer HCIT outsourcing services, IT infrastructure management services. Provider HCIT outsourcing services are divided into revenue cycle management services, laboratory information management services, EMR/medical document management services and others. Operational HCIT outsourcing services are divided into business process management services, supply chain management services and others. Payer HCIT 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.
Healthcare Information Technology (IT) Market Country Level Analysis
The healthcare information technology (IT) market is segmented on the basis of product and services, components, delivery mode and end-users.
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 in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the technological advancement in healthcare sector in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the growing investment in the advancement of healthcare sector and rising trends of digitalizing patient records in this region.
The country section of the healthcare information technology (IT) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The healthcare information technology (IT) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for healthcare information technology (IT) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the healthcare information technology (IT) market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Global Healthcare Information Technology (IT) Market Share Analysis
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.
The major players covered in the healthcare information technology (IT) market report are Allscripts Healthcare, LLC, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Siemens Healthcare GmbH, Carestream Health, Agfa-Gevaert Group, athenahealth, Inc., eClinicalWorks, GENERAL ELECTRIC, GREENWAY HEALTH, LLC., Infor, Koninklijke Philips N.V., NXGN Management, LLC, Oracle, Siilo, BigHealth, Vida Health, SWORD Health, NOVIGENIX SA, Lantum, BD, Bioaxis, Ada Health GmbH, among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Healthcare Information Technology (IT) Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
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