India 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-Premises, Cloud-Based), End-Users (Providers, Payers), Industry Trends and Forecast to 2029
Market Analysis and Insights : India Healthcare Information Technology (IT) Market
The healthcare information technology (IT) market is expected to witness market growth at a rate of 23.85% in the forecast period of 2022 to 2029. Data Bridge Market Research report on healthcare information technology (IT) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the aviation sector is escalating the growth of healthcare information technology (IT) market.
Healthcare information technology (also referred as healthcare IT) is basically an area of information technology that deals with the development, design and maintenance of information systems in clinics, hospitals, and other healthcare institutions. It reduces the risk of medical records being misplaced and allows healthcare practitioners to obtain patient health reports from a various places.
The major significant factors that are expected to boost the growth of the healthcare information technology (IT) market in the forecast period are the upsurge in the use of big data and growing need to decrease escalating healthcare costs. 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 anticipated to propel the growth of the healthcare information technology (IT) market. Moreover, increasing geriatric population, rise in the prevalence of chronic diseases and high return on investments involved with healthcare IT solutions is further estimated to cushion the growth of the healthcare information technology (IT) market. On the other hand, 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 are projected to further impede the growth of the healthcare information technology (IT) market in the timeline period.
In addition, growing utilization of healthcare IT solutions in outpatients care facilities and the rise in the preferences towards patient-centric healthcare delivery will further provide potential opportunities for the growth of the healthcare information technology (IT) market in the coming years. However, the rise in the concerns associated with security and interoperability problems might further challenge the growth of the healthcare information technology (IT) market in the near future.
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.
India 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, mheath 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 centres, diagnostic centres, home healthcare and assisted living centres, hospitals, and pharmacies. Payers are further sub-segmented into private payers and public payers.
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 2020.
Competitive Landscape and 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.
Some of the major players operating in the healthcare information technology (IT) market report are Allscripts Healthcare, LLC, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Siemens, 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, Inc, NOVIGENIX SA, Lantum, BD, Bioaxis, and Ada Health GmbH, among others.