Global 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)), End User (Provider, Payer, Pharma & Biotech, Clinical Research Organization, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends & Forecast to 2026
Market Analysis: Global Healthcare IT Outsourcing Market
Global Healthcare IT Outsourcing Market has accounted to USD 51.7 billion in 2018, growing at a CAGR of 10.5% from 2019 to 2026, and is expected to reach USD 114.92billion by 2026. The new market report contains data for historic years 2016, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Market Definition: Global Healthcare IT Outsourcing Market
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 of 10.5% 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 global 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.
- Decrease in operational costs will help in global healthcare IT outsourcing market to grow.
- Growing need to integrate healthcare IT solutions.
- Increasing incidents of loss of confidentiality and data breach.
- Lack of standard platform for maintaining and storing data is expected to hinder the growth of market.
Segmentation: Global Healthcare IT Outsourcing Market
- By Product Type
- Provider HCIT Outsourcing Market
- Electronic Health Record (EHR)
- Pharmacy Information System (PRS)
- Revenue Cycle Management (RCM) System
- Laboratory Information Management System (LIMS)
- Radiology information systems
- Picture archiving and communication systems
- Customer Relationship Management System
- Billing System
- Claim Processing System
- Fraud Detection
- Supply Chain Management (SCM)
- Business Process Management
- Life Sciences
- Clinical Database Management System (CDMS)
- Enterprise Resource Planning (ERP)
- Clinical Trial Management System (CTMS)
- R&D IT Services
- Cloud Computing
- Infrastructure Management Services
- Healthcare Provider System
- Physician clinics
- Radiology labs
- Clinical labs
- Health Insurance
- Clinical Research Organization (CRO)
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In April 2017, the global leader of healthcare IT market Infosys launched the next-generation integrated artificial intelligence platform Infosys Nia. This AI enabled system will help clients to solve a wide variety of business problems including sales and demand forecasting, understanding customer behavior, deeply understanding the content of contracts and legal documents, understanding compliance, and fraud.
- In March 2017, Oracle Health Sciences revealed Oracle Health Sciences Data Management Workbench Cloud Service, which will provide better regulatory compliance, increase data quality and reduce the cost and time of end to end clinical data flow across clinical R&D.
Competitive Analysis: Global Healthcare IT Outsourcing Market
Global healthcare IT outsourcing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of healthcare IT outsourcing market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Healthcare IT Outsourcing Market
The key players in the global healthcare IT outsourcing market are McKesson Corporation (US), R1 RCM Inc. (US), HCL Technologies Limited (IN), Atos SE (US), Hewlett Packard Enterprise Development LP (US), Allscripts (US), Accenture (Ireland), Cognizant (US), Dell (US), IBM Corporation (US), Infosys Limited (IN), Siemens Healthcare GmbH (Germany), Tata Consultancy Services Limited (IN), Wipro Limited (IN) and Xerox Corporation (US) among others.
Research Methodology: Global Healthcare IT Outsourcing Market–
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global healthcare IT outsourcing market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)