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Healthcare Information Technology Market

Healthcare Information Technology Market Size, Share & Segment 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), by Regions and Global Forecast 2022-2028

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 Information Technology Market

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.

MARKET DYNAMICS

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.

  • The need to control rising medical services costs

  • Growing markets for mHealth, remote, and telehealth patient monitoring

RESTRAINTS

  • Developing-country IT infrastructure constraints

  • The high cost of deploying HCIT solutions in developing countries

  • Traditional healthcare providers' opposition

OPPORTUNITIES

  • Outpatient care facilities are increasingly utilizing healthcare IT solutions.

  • EHR solutions in the cloud

  • Transition to patient-centered healthcare delivery

CHALLENGES

  • 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.

By Product

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.

COMPETITIVE LANDSCAPE

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.

MARKET 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

Healthcare Information Technology Market

REGIONAL ANALYSIS

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.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

Healthcare Information Technology Market Report Scope:
Report Attributes Details
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
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

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

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11.Company Profiles

11.1 Philips Healthcare

            11.1.1 Financial

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.Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

13.Conclusion

 

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Secondary Research

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