Report Id: SNS/HC/2031 | June 2022 | Region: Global | 125 Pages
The Healthcare Information Technology Market Size was valued at USD 136.7 billion in 2021, and expected to reach USD 835.2 billion by 2028, and grow at a CAGR of 29.5% over the forecast period 2022-2028. The creation, management, and implementation of information systems in healthcare institutions are all covered under healthcare information technology (IT). The use of healthcare information technology decreases the need for human intervention, lowering the risk of human mistake.
Healthcare IT, also known as healthcare technology, is a branch of information technology focused on the development, design, creation, and maintenance of information systems in hospitals, clinics and other health settings. Healthcare IT offers many benefits and opportunities to improve and transform health care, such as improving clinical outcomes, reducing human error, improving practice efficiency, promoting care relationships, and tracking data over time. Expanded interest for telehealth and mHealth answers for countless cell phone clients, the reception of HCIT administrations connected with cloud innovation, the execution of different medical services changes, for example, the Patient Protection Act and the Affordable Care Act (PPAA), and fast populace development. The elderly and the subsequent increase in the number of chronic diseases all drive the growth of the IT healthcare market worldwide.
Mandates from the government and support for healthcare IT solutions
The increasing use of big data
Healthcare IT solutions provide high returns on investment.
The need to control rising medical services costs
Growing markets for mHealth, remote, and telehealth patient monitoring
Developing-country IT infrastructure constraints
The high cost of deploying HCIT solutions in developing countries
Traditional healthcare providers' opposition
Outpatient care facilities are increasingly utilizing healthcare IT solutions.
EHR solutions in the cloud
Transition to patient-centered healthcare delivery
Concerns about safety
Concerns about interoperability
IMPACT OF COVID-19
Due to the outbreak of COVID-19, treatments of all sizes are under extreme pressure, and health facilities around the world are frustrated with the large number of patients who visit them daily. The prevalence of coronavirus has increased the need for more accurate diagnoses and treatment equipment in many countries around the world. In this regard, integrated care technology has proven to be very useful, as it enables healthcare providers to monitor patients using rarely digitally connected devices such as home blood pressure monitors and pulse oximeters.
Healthcare provider solutions, healthcare provider solutions, and HCIT rollout services cover the global IT health market. Solutions for clinical and non-clinical health care providers are divided into two categories. Pharmacy analysis and audit solution, litigation management solution, fraud management solution, computer-assisted coding systems, payment management, provider network management solution, membership eligibility management solution, customer relationship management solution, partial management solution and other document management solutions. and the market for HCIT outsourcing services is divided into four categories: HCIT provider services, supplier HCIT withdrawal services, active HCIT extraction services, and IT infrastructure management services.
Due to the increased adoption of electronic health records (EHR) and other hospital information systems by healthcare providers, healthcare provider solutions are expected to be the fastest growing segment during the analysis period. The market is supposed to become essentially because of expanded interest for excellent medical care administrations and arrangements, expanded acknowledgment of mHealth and telehealth rehearses, expanded interest for worked on persistent wellbeing and care, expanded government drives to advance HCIT, and expanded reception of cloud innovation in medical services.
By End User
The healthcare IT market is divided into two categories: healthcare providers and healthcare payers. The healthcare sector is also divided into hospitals, patient care centers, diagnostic and photographic centers, pharmacies, and more. Half of the healthcare taxpayers are also divided into private and public payers. The share of healthcare providers is expected to grow rapidly during the analysis period. Healthcare payers are expected to grow at a tremendous rate. Hospitals are a major part of the IT healthcare IT market.
This is because hospitals are looking for a variety of HCIT solutions to help them manage the growing burden of managing patient information. The rising prevalence of chronic diseases has created opportunities for the global healthcare IT market to expand.
Some of the major key players of Healthcare Information Technology Market are as follows: Philips Healthcare, Carestream Health, Agfa Healthcare, eClinical works, Hewlett-Packard Enterprise, E-MDS, Inc., GE Healthcare, McKesson Corporation, Athenahealth, Inc., Orion Health.
HCIT Outsourcing Services
Payer HCIT Outsourcing Services
Operational HCIT Outsourcing Services
IT Infrastructure Management Services
By End User
The three primary countries of Asia-Pacific addressed in the research are India, Japan, China, and the Rest of Asia-Pacific.
From 2022 to 2028, North America is predicted to have the fastest growth rate. Asia-Pacific now leads the global healthcare IT market and is likely to continue to do so during the forecast period. This is owing to booming economies and government initiatives to digitalize and automate the tasks of various healthcare institutions, such as hospitals, pharmacies, nursing homes, and other health-care-related businesses.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 136.7 Billion|
|Market Size by 2028||US$ 835.2 Billion|
|CAGR||CAGR of 29.5% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Non-clinical Solutions, HCIT Outsourcing Services, Payer HCIT Outsourcing Services, Operational HCIT Outsourcing Services, IT Infrastructure Management Services)
• By End User (Healthcare Providers, Healthcare Payers)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Philips Healthcare, Carestream Health, Agfa Healthcare, eClinical works, Hewlett-Packard Enterprise, E-MDS, Inc., GE Healthcare, McKesson Corporation, Athenahealth, Inc., Orion Health.|
|DRIVERS||• Mandates from the government and support for healthcare IT solutions
• The increasing use of big data
• Healthcare IT solutions provide high returns on investment.
|RESTRAINTS||• Developing-country IT infrastructure constraints
• The high cost of deploying HCIT solutions in developing countries
• Traditional healthcare providers' opposition
Frequently Asked Questions (FAQ) :
Healthcare Information Technology Market Size was valued at USD 136.7 billion in 2021, and expected to reach USD 835.2 billion by 2028, and grow at a CAGR of 29.5% over the forecast period 2022-2028.
Healthcare IT, also known as healthcare technology, is a branch of information technology focused on the development, design, creation, and maintenance of information systems in hospitals, clinics and other health settings.
Key drivers of the Healthcare Information Technology Market is EHR solutions are healthcare IT solutions provide high returns on investment, and the need to control rising medical services costs
Healthcare Providers, and Healthcare Payers are the sub segments of Healthcare Information Technology market.
North America is predicted to have the fastest growth rate. Asia-Pacific now leads the global healthcare IT market and is likely to continue to do so during the forecast period.
Table of Content
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine ware
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Information Technology Market Segmentation, By Product
8.1 Non-clinical Solutions
8.2 HCIT Outsourcing Services
8.3 Payer HCIT Outsourcing Services
8.4 Operational HCIT Outsourcing Services
8.5 IT Infrastructure Management Services
9. Healthcare Information Technology Market Segmentation, By End User
9.1 Healthcare Providers
9.2 Healthcare Payers
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11.1 Philips Healthcare
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Carestream Health
11.3 Agfa Healthcare
11.4 eClinical works
11.5 Hewlett-Packard Enterprise
11.6 E-MDS, Inc.
11.7 GE Healthcare
11.8 McKesson Corporation
11.9 Athenahealth, Inc.
11.10 Orion Health.
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
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