The Healthcare IT Outsourcing Market Size was valued at USD 68.86 billion in 2022, and is expected to reach USD 118.40 billion by 2030 and grow at a CAGR of 7.01% over the forecast period 2023-2030.
The industry for healthcare IT is experiencing a rise in outsourcing. It's a screening procedure where a business chooses the most effective outside service provider to manage and run its administrative and management unit. With healthcare expenses on the rise and an increasing public demand for high-quality care, outsourcing IT services in the healthcare sector has become a viable option. Over time, large enterprises have become increasingly interested in the trend of healthcare IT outsourcing solutions, and mid-sized businesses have also become interested.
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DRIVERS
Healthcare Costs Can Be Reduced Through Healthcare IT Outsourcing in Every Region
Lack of Internal IT Professional
The Federal Government's "Meaningful Use" Criteria Must Be Met in Order to Receive Incentives
The Healthcare IT Outsourcing Market is Driven by U.S.
Organizations providing accountable care
Costs of Operations Are Reduced
Increasing Demand for Healthcare IT Integration
Improved Clinical Results and Care Quality
RESTRAINTS
End-User Market Fragmentation Limits the Development of Standard IT Platforms
Increasing Numbers of Data Breach Incidents and Confidentiality Losses
OPPORTUNITIES
Software architecture-oriented programmers’ role in the consolidation of the healthcare system
Growing Data Security Concerns Present Opportunities for Private Cloud Computing Models
IT Outsourcing Can Be Highly Successful in Emerging Markets.
Systems for Converting to ICD-10
Patient-Centric Systems are the new focus
In India and Singapore, medical tourism is growing
CHALLENGES
Absence of a Common Platform
Performance Gaps in Relation to Expectations
As a result of the World Health Organization (WHO) designating the COVID-19 outbreak as a pandemic, several well-known pharmaceutical and biopharmaceutical companies have stepped up their R&D and production efforts to create and market SARS-CoV-2 test kits, vaccines, and medications. To speed up the R&D process, numerous pharmaceutical and biotechnology corporations teamed up with it outsourcing firms through long-term contracts, partnerships, and collaborations on a global scale. In addition, outsourcing firms have developed special COVID-19 research services. For the global research and development of COVID-19 vaccines, medications, and diagnostics, there have been a number of new service releases as well as partnerships, agreements, and collaborations with other pharmaceutical firms and academic institutions.
By Application
The application market is further divided into IT provider outsourcing, HIT payer outsourcing, natural sciences HCIT outsourcing, operational healthcare IT outsourcing and healthcare IT outsourcing. Electronic health records (EHR), laboratory information systems (LIMS), pharmacy information systems (PIS), and revenue cycle management (RCM) systems are other categories under which outsourcing HCIT providers are divided. The following sub-segments are included in Payer HCIT Outsourcing: Customer Relationship Management (CRM), Claims Processing, Billing System, and Fraud & Detection. R&D IT services, clinical trial management systems, clinical data management systems, and enterprise resource planning (ERP) are the four categories of HCIT life sciences outsourcing. Outsourcing supply chain management (SCM) and business process management (BPM) are operational sub-segments of HCIT that were considered for study. The sub-segments of cloud computing and infrastructure management services (IMS) are the two most significant ones within the outsourcing of IT infrastructure
By Industry
The healthcare provider system, biotechnology, pharmaceuticals, clinical research organizations, and health insurance make up the market's industry segments. Hospitals, diagnostic centers, and clinics are also included.
By Application
Provider Outsourcing Market
Payer Outsourcing Market
Life Science Outsourcing Market
Operational Outsourcing Market
Infrastructure Outsourcing Market
By Industry
Healthcare System
Healthcare Insurance Industry
Pharmaceutical Industry
Clinical Research Organization
Biotechnology
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In terms of revenue and market share, North America now dominates the anastomosis devices market and this dominance is expected to continue during the forecast period. Modern IT systems are to blame. On the other hand, Asia Pacific is expected to grow at the fastest rate during the projection due to increasing government spending on healthcare and rising personal disposable income.
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
Major key players are Allscripts Healthcare, LLC, Carestream Health, eClinicalWorks, Agfa-Gevaert Group, GENERAL ELECTRIC, Cerner Corporation, athenahealth, Inc., GREENWAY HEALTH, LLC., Infor, Koninklijke Philips N.V., NXGN Management, LLC, McKesson Corporation, Oracle, Siemens Healthcare GmbH, Epic Systems Corporation and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 66.86 Billion |
| Market Size by 2030 | US$ 118.40 Billion |
| CAGR | CAGR of 7.01% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application (Provider Outsourcing Market, Payer Outsourcing Market, Life Science Outsourcing Market, Operational Outsourcing Market, Infrastructure Outsourcing Market) • By Industry (Healthcare System, Healthcare Insurance Industry, Pharmaceutical Industry, Clinical Research Organization, Biotechnology) |
| 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 | Allscripts Healthcare, LLC, Carestream Health, eClinicalWorks, Agfa-Gevaert Group, GENERAL ELECTRIC, Cerner Corporation, athenahealth |
| Key Drivers | • The Healthcare IT Outsourcing Market is Driven by U.S. • Organizations providing accountable care |
| RESTRAINTS | • End-User Market Fragmentation Limits the Development of Standard IT Platforms • Increasing Numbers of Data Breach Incidents and Confidentiality Losses |
Ans. The Health Insurance Exchange Market Size was valued at USD 68.86 Billion in 2022.
Ans: The key drivers are Organizations providing accountable care, Costs of Operations Are Reduced and Increasing Demand for Healthcare IT Integration.
Ans. Due to its developed healthcare system, rising prevalence of chronic conditions, and increasingly informed customer base, North America is predicted to have the market's strongest growth.
Ans. exaware – Allscripts Healthcare, LLC, Carestream Health, eClinicalWorks, Agfa-Gevaert Group, GENERAL ELECTRIC, Cerner Corporation, athenahealth are the key players of Health Insurance Exchange market.
Ans: The Healthcare IT Outsourcing Market is to grow at a CAGR of 7.01% over the forecast period 2023-2030.
Table of Contents
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- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare IT Outsourcing Market Segmentation, By Application
8.1 Provider Outsourcing Market
8.2 Payer Outsourcing Market
8.3 Life Science Outsourcing Market
8.4 Operational Outsourcing Market
8.5 Infrastructure Outsourcing Market
9. Healthcare IT Outsourcing Market Segmentation, By Industry
9.1 Healthcare System
9.2 Healthcare Insurance Industry
9.3 Pharmaceutical Industry
9.4 Clinical Research Organization
9.5 Biotechnology
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 Allscripts Healthcare, LLC
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 eClinicalWorks
11.4 Agfa-Gevaert Group
11.5 GENERAL ELECTRIC
11.6 Cerner Corporation
11.7 athenahealth, Inc.
11.8 GREENWAY HEALTH, LLC.
11.9 Infor
11.10 Koninklijke Philips N.V.
12. Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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