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The Healthcare Technology Management Market Size was valued at USD 7.44 billion in 2023 and is expected to reach USD 26.04 billion by 2032 and grow at a CAGR of 15.70% over the forecast period 2024-2032.
Key Drivers in the healthcare technology management market are the growing penetration of cloud technology and related Human-Computer Interaction (HCI) services along with mounting requests for telehealth & mHealth solutions. Accelerated adoption of different healthcare reforms like PPACA (Patient Protection and Affordable Care Act), spreads a positive impact on the market growth. Furthermore, the rising elderly population and rising incidence of numerous chronic disorders are supporting exponential expansion in the healthcare technology management market.
This has increased the number of elderly people in society so that, according to official projections by the U.S. Census Bureau if current trends continue, we will see all baby boomers reach 65 years old and over around or shortly after 2030. While, approximately 20%, According to the Centers for Disease Control and Prevention (CDC), 6 in 10 adults have a chronic disease, while four in ten live with two or more-making it all too obvious why there is such urgency when it comes to finding effective health solutions.
Healthcare organizations, which mainly include hospitals and clinics are underperformance pressure to create as well as design effective information systems by using healthcare IT. Healthcare technology management impacts healthcare in numerous ways, contributing to improvements in clinical outcomes with current technologies and increased patient safety consequent the reduction of error rates due not only to personal "human factor" but also empowered practice efficiency that precedes streamlined care coordination resulting from accurate data collected over time.
In health research, countries like Japan, France, and Spain have a strong presence in this field of study with the United States. For example, medical research in the U. S. costs over $42 billion a year with funding from places like the National Institute of Health (NIH) In the UK, on the other hand, they are concentrating on growing research and development (R&D) in these regions and exporting technology to other countries which is encouraged by large government financing for healthcare innovation.
MARKET DYNAMICS:
KEY DRIVERS:
RESTRAINTS:
OPPORTUNITY:
KEY MARKET SEGMENTATION:
By Services Type
Maintenance & Repair is the most important category within healthcare technology management holding 28% of the market share. Healthcare devices and equipment maintenance & repair are critical for maintaining the reliability, functioning as well as safety of medical devices throughout healthcare settings. This is a critical area as it takes in numerous medical devices and systems found throughout clinical settings-from diagnostic imaging equipment to patient monitoring to surgical instruments. Preventing equipment from failing or breaking down, could place patient care and safety at risk as well as eat into potentially the lifespan of expensive medical machines. However, the growing complexity and technology level of healthcare devices further highlight how crucial expert maintenance as well as repair service is. For healthcare providers, this means preemptive investment in discipline-specific service and prevention compliance with agency regulations (e.g., those from the FDA or CMS) requiring adherence to quality of safe practices narrowing their infrastructure. As a result, the need for full-service maintenance and repair solutions is as strong as it ever has been to keep healthcare delivery systems running efficiently around the world.
By Facility
The acute care facilities accounted for 42% in 2023. These sites encompass everything from healthcare facilities that provide critical medical services and treat severe illnesses or injuries of a temporary nature (hospitals). The medical equipment used in acute care settings are important and extensive machines that assist with critical life support, surgical interventions as well intensive monitoring. Many of these deployers operate on a large scale due to their advanced infrastructure and high numbers of patients, which in turn will require comprehensive healthcare technology management services ranging from planned maintenance and repairs through cybersecurity: all necessary for efficient operations as well as meeting regulatory compliance needs. Therefore, the demand from acute care facilities for healthcare technology management services is higher than post-acute care entities involved in rehabilitation and long-term stay or non-acute entities such as outpatient clinics, diagnostic centers, etc. which generally have low-end point needs of technology use with lower patient footfall turnover.
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REGIONAL COVERAGE:
REGIONAL ANALYSIS:
In 2023, North America holds the major share of the market globally which is 40%. The market is being propelled by its state-of-the-art healthcare infrastructure, increasing implementation of digital health technologies, and strict regulatory guidelines. The area's positive attitude is further reinforced by substantial investment in cybersecurity measures and expertise, due to the amount of data breaches indicating that healthcare systems are being preyed upon. HIPAA compliance requirements also prioritize security for protecting patient data from being accessible and preventing unauthorized copies. North American leadership in secure healthcare IT practices is supported by leading cybersecurity firms, and research institutions and remains a pivotal epicenter for global innovation and implementation of onsite-healthcare-specific cybersecurity solutions.
The European healthcare technology management market accounted for a considerable share in the global revenue shares, due to high R&D investment, increasing technological innovation acceptance, and the presence of large players with an efficient focus on developing newer patents. The market in Europe is expected to offer lucrative opportunities because of improved healthcare infrastructure hubs in countries like Germany and the U.K.
KEY PLAYERS:
The key market players include JANNX Medical Systems, Inc., ABM Industries, Inc., Crothall Healthcare, Inc., Koninklijke Philips N.V., Sodexo S.A., Agility, Inc., TriMedx, LLC, Siemens Healthineers AG, Renovo Solutions, General Electric (GE) Co. & other players.
RECENT DEVELOPMENTS
| Report Attributes | Details |
| Market Size in 2023 | US$ 7.44 Billion |
| Market Size by 2032 | US$ 26.04 Billion |
| CAGR | CAGR of 15.70% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Services Type (Maintenance & Repair, Integrated Software Platform, Cyber Security, Capital Planning, Quality & Regulatory Compliance, Labor Management, Supply Chain (Procurement) •By Facility (Acute care facility, Post-Acute Care Facility, and Non-Acute care Facility) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | JANNX Medical Systems, Inc., ABM Industries, Inc., Crothall Healthcare, Inc., Koninklijke Philips N.V., Sodexo S.A., Agility, Inc., TriMedx, LLC, Siemens Healthineers AG, Renovo Solutions, General Electric (GE) Co. & other players |
| Key Drivers | •Surged Aging Population is responsible for the Increasing Demand for Healthcare Technology Management Solutions. •The Raising Chronic Diseases Led to Increased Demand for Healthcare Technology Management Solutions Which is Boosting the Market Growth. |
| RESTRAINTS | •Substantial Risk of Data Security is Hindering Healthcare Technology Management Market Growth. •The Higher Implementation Costs of Healthcare Technology Management Solutions can Limit the Adoption of Healthcare Technology Management. |
Ans: The Healthcare Technology Management Market is expected to grow at 15.70% CAGR from 2024 to 2032.
Ans: According to our analysis, the Healthcare Technology Management Market is anticipated to reach USD 26.04 billion By 2032.
Ans: The leading participants in the,General Electric (GE) Co., ABM Industries, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Sodexo S.A., Crothall Healthcare, inc.
Ans: Medical errors are constantly decreasing and will drive the industry in the coming years, yet concerns regarding data privacy and security are fast expanding.
Ans: Yes, you may request customization based on your company's needs.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Healthcare Technology Management Market Segmentation, By Services Type
7.1 Maintenance & Repair
7.2 Integrated Software Platform
7.3 Cyber Security
7.4 Capital Planning
7.5 Quality & Regulatory Compliance
7.6 Labor Management
7.7 Supply Chain (Procurement)
8. Healthcare Technology Management Market Segmentation, By Facility
8.1 Introduction
8.2 Acute care facility
8.3 Post-Acute Care Facility
8.4 Non-Acute care Facility
9. Regional Analysis
9.1 Introduction
9.2 North America
9.2.1 Trend Analysis
9.2.2 North America Healthcare Technology Management Market by Country
9.2.3 North America Healthcare Technology Management Market By Services Type
9.2.4 North America Healthcare Technology Management Market By Facility
9.2.5 USA
9.2.5.1 USA Healthcare Technology Management Market By Services Type
9.2.5.2 USA Healthcare Technology Management Market By Facility
9.2.6 Canada
9.2.6.1 Canada Healthcare Technology Management Market By Services Type
9.2.6.2 Canada Healthcare Technology Management Market By Facility
9.2.7 Mexico
9.2.7.1 Mexico Healthcare Technology Management Market By Services Type
9.2.7.2 Mexico Healthcare Technology Management Market By Facility
9.3 Europe
9.3.1 Trend Analysis
9.3.2 Eastern Europe
9.3.2.1 Eastern Europe Healthcare Technology Management Market by Country
9.3.2.2 Eastern Europe Healthcare Technology Management Market By Services Type
9.3.2.3 Eastern Europe Healthcare Technology Management Market By Facility
9.3.2.4 Poland
9.3.2.4.1 Poland Healthcare Technology Management Market By Services Type
9.3.2.4.2 Poland Healthcare Technology Management Market By Facility
9.3.2.5 Romania
9.3.2.5.1 Romania Healthcare Technology Management Market By Services Type
9.3.2.5.2 Romania Healthcare Technology Management Market By Facility
9.3.2.6 Hungary
9.3.2.6.1 Hungary Healthcare Technology Management Market By Services Type
9.3.2.6.2 Hungary Healthcare Technology Management Market By Facility
9.3.2.7 Turkey
9.3.2.7.1 Turkey Healthcare Technology Management Market By Services Type
9.3.2.7.2 Turkey Healthcare Technology Management Market By Facility
9.3.2.8 Rest of Eastern Europe
9.3.2.8.1 Rest of Eastern Europe Healthcare Technology Management Market By Services Type
9.3.2.8.2 Rest of Eastern Europe Healthcare Technology Management Market By Facility
9.3.3 Western Europe
9.3.3.1 Western Europe Healthcare Technology Management Market by Country
9.3.3.2 Western Europe Healthcare Technology Management Market By Services Type
9.3.3.3 Western Europe Healthcare Technology Management Market By Facility
9.3.3.4 Germany
9.3.3.4.1 Germany Healthcare Technology Management Market By Services Type
9.3.3.4.2 Germany Healthcare Technology Management Market By Facility
9.3.3.5 France
9.3.3.5.1 France Healthcare Technology Management Market By Services Type
9.3.3.5.2 France Healthcare Technology Management Market By Facility
9.3.3.6 UK
9.3.3.6.1 UK Healthcare Technology Management Market By Services Type
9.3.3.6.2 UK Healthcare Technology Management Market By Facility
9.3.3.7 Italy
9.3.3.7.1 Italy Healthcare Technology Management Market By Services Type
9.3.3.7.2 Italy Healthcare Technology Management Market By Facility
9.3.3.8 Spain
9.3.3.8.1 Spain Healthcare Technology Management Market By Services Type
9.3.3.8.2 Spain Healthcare Technology Management Market By Facility
9.3.3.9 Netherlands
9.3.3.9.1 Netherlands Healthcare Technology Management Market By Services Type
9.3.3.9.2 Netherlands Healthcare Technology Management Market By Facility
9.3.3.10 Switzerland
9.3.3.10.1 Switzerland Healthcare Technology Management Market By Services Type
9.3.3.10.2 Switzerland Healthcare Technology Management Market By Facility
9.3.3.11 Austria
9.3.3.11.1 Austria Healthcare Technology Management Market By Services Type
9.3.3.11.2 Austria Healthcare Technology Management Market By Facility
9.3.3.12 Rest of Western Europe
9.3.3.12.1 Rest of Western Europe Healthcare Technology Management Market By Services Type
9.3.2.12.2 Rest of Western Europe Healthcare Technology Management Market By Facility
9.4 Asia-Pacific
9.4.1 Trend Analysis
9.4.2 Asia Pacific Healthcare Technology Management Market by Country
9.4.3 Asia Pacific Healthcare Technology Management Market By Services Type
9.4.4 Asia Pacific Healthcare Technology Management Market By Facility
9.4.5 China
9.4.5.1 China Healthcare Technology Management Market By Services Type
9.4.5.2 China Healthcare Technology Management Market By Facility
9.4.6 India
9.4.6.1 India Healthcare Technology Management Market By Services Type
9.4.6.2 India Healthcare Technology Management Market By Facility
9.4.7 Japan
9.4.7.1 Japan Healthcare Technology Management Market By Services Type
9.4.7.2 Japan Healthcare Technology Management Market By Facility
9.4.8 South Korea
9.4.8.1 South Korea Healthcare Technology Management Market By Services Type
9.4.8.2 South Korea Healthcare Technology Management Market By Facility
9.4.9 Vietnam
9.4.9.1 Vietnam Healthcare Technology Management Market By Services Type
9.4.9.2 Vietnam Healthcare Technology Management Market By Facility
9.4.10 Singapore
9.4.10.1 Singapore Healthcare Technology Management Market By Services Type
9.4.10.2 Singapore Healthcare Technology Management Market By Facility
9.4.11 Australia
9.4.11.1 Australia Healthcare Technology Management Market By Services Type
9.4.11.2 Australia Healthcare Technology Management Market By Facility
9.4.12 Rest of Asia-Pacific
9.4.12.1 Rest of Asia-Pacific Healthcare Technology Management Market By Services Type
9.4.12.2 Rest of Asia-Pacific Healthcare Technology Management Market By Facility
9.5 Middle East & Africa
9.5.1 Trend Analysis
9.5.2 Middle East
9.5.2.1 Middle East Healthcare Technology Management Market by Country
9.5.2.2 Middle East Healthcare Technology Management Market By Services Type
9.5.2.3 Middle East Healthcare Technology Management Market By Facility
9.5.2.4 UAE
9.5.2.4.1 UAE Healthcare Technology Management Market By Services Type
9.5.2.4.2 UAE Healthcare Technology Management Market By Facility
9.5.2.5 Egypt
9.5.2.5.1 Egypt Healthcare Technology Management Market By Services Type
9.5.2.5.2 Egypt Healthcare Technology Management Market By Facility
9.5.2.6 Saudi Arabia
9.5.2.6.1 Saudi Arabia Healthcare Technology Management Market By Services Type
9.5.2.6.2 Saudi Arabia Healthcare Technology Management Market By Facility
9.5.2.7 Qatar
9.5.2.7.1 Qatar Healthcare Technology Management Market By Services Type
9.5.2.7.2 Qatar Healthcare Technology Management Market By Facility
9.5.2.8 Rest of Middle East
9.5.2.8.1 Rest of Middle East Healthcare Technology Management Market By Services Type
9.5.2.8.2 Rest of Middle East Healthcare Technology Management Market By Facility
9.5.3 Africa
9.5.3.1 Africa Healthcare Technology Management Market by Country
9.5.3.2 Africa Healthcare Technology Management Market By Services Type
9.5.3.3 Africa Healthcare Technology Management Market By Facility
9.5.2.4 Nigeria
9.5.2.4.1 Nigeria Healthcare Technology Management Market By Services Type
9.5.2.4.2 Nigeria Healthcare Technology Management Market By Facility
9.5.2.5 South Africa
9.5.2.5.1 South Africa Healthcare Technology Management Market By Services Type
9.5.2.5.2 South Africa Healthcare Technology Management Market By Facility
9.5.2.6 Rest of Africa
9.5.2.6.1 Rest of Africa Healthcare Technology Management Market By Services Type
9.5.2.6.2 Rest of Africa Healthcare Technology Management Market By Facility
9.6 Latin America
9.6.1 Trend Analysis
9.6.2 Latin America Healthcare Technology Management Market by Country
9.6.3 Latin America Healthcare Technology Management Market By Services Type
9.6.4 Latin America Healthcare Technology Management Market By Facility
9.6.5 Brazil
9.6.5.1 Brazil Healthcare Technology Management Market By Services Type
9.6.5.2 Brazil Healthcare Technology Management Market By Facility
9.6.6 Argentina
9.6.6.1 Argentina Healthcare Technology Management Market By Services Type
9.6.6.2 Argentina Healthcare Technology Management Market By Facility
9.6.7 Colombia
9.6.7.1 Colombia Healthcare Technology Management Market By Services Type
9.6.7.2 Colombia Healthcare Technology Management Market By Facility
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Healthcare Technology Management Market By Services Type
9.6.8.2 Rest of Latin America Healthcare Technology Management Market By Facility
10. Company Profiles
10.1 JANNX Medical Systems, Inc.
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
10.1.4 The SNS View
10.2 ABM Industries, Inc.
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 The SNS View
10.3 Crothall Healthcare, Inc.
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 The SNS View
10.4 Koninklijke Philips N.V.
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 The SNS View
10.5 Sodexo S.A.
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 The SNS View
10.6 Agility, Inc.
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 The SNS View
10.7 TriMedx, LLC
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 The SNS View
10.8 Siemens Healthineers AG
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 The SNS View
10.9 Renovo Solutions
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 The SNS View
10.10 General Electric (GE) Co.
10.10.1 Company Overview
10.10.2 Financial
10.10.3 Products/ Services Offered
10.10.4 The SNS View
11. Competitive Landscape
11.1 Competitive Benchmarking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.1 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions
12. USE Cases and Best Practices
13. Conclusion
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