The Healthcare Technology Management Market size was estimated 6.92 USD billion in 2022 and is expected to reach USD 21.34 billion by 2030 at a CAGR of 15.12% during the forecast period of 2023-2030.
The rising adoption of cloud technology and associated human-computer interaction (HCI) services, the rising demand for telehealth and mHealth solutions, the rapid implementation of numerous healthcare reforms such as the Patient Protection and Affordable Care Act (PPACA), the growing aging population, and the rising number of chronic diseases are the primary drivers of growth.Furthermore, hospitals, clinics, and other healthcare organizations rely on healthcare information technology to build, design, and maintain information systems. Furthermore, healthcare technology management provides various benefits and opportunities for improving and transforming healthcare, such as enhanced clinical results, lower human error rates, increased practice efficiency, easier care coordination, and data collection over time.
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Furthermore, countries such as Japan, France, Spain, and the United States have established a strong presence in healthcare research, while the United Kingdom is focusing on improving R&D and exporting technology to other countries.
DRIVERS
Increased emphasis on preventive medical equipment maintenance
Preventive maintenance services are increasingly being used by healthcare professionals to assure the reliability of their medical equipment. This is significant because downtime in medical equipment can result in patient safety problems, lost revenue, and increased expenditures. Preventive maintenance services can assist in identifying and correcting any issues before they generate downtime. This can help improve patient safety, lower expenses, and increase medical equipment uptime.
The adoption of new medical technologies is also propelling the growth of the US healthcare technology management services market. New medical technologies are frequently more sophisticated and require more skilled maintenance. Healthcare providers must collaborate with healthcare technology management service providers to guarantee that they have the expertise to sustain these new systems.
RESTRAIN
There is a scarcity of skilled technicians and clinical or biomedical engineers.
OPPORTUNITY
Consolidation is increasing in the US healthcare industry.
The growing trend of consolidation in the US healthcare business creates a substantial opportunity for the market for healthcare technology management (HTM) in the US. As healthcare organizations merge and integrate, they seek standardized IT solutions and efficient processes across their enlarged networks. This desire for efficiency and consistency offers an ideal environment for HTM firms to offer their experience in optimizing, maintaining, and managing complex healthcare technology infrastructures.
HTM firms can play a critical role in enabling consolidated healthcare systems to harness the benefits of scale while delivering high-quality patient care through advanced and well-maintained technological resources by providing comprehensive services that ensure seamless integration of technology systems, regulatory compliance, and data-driven insights.
CHALLENGES
Contracts with multiple vendors are preferred.
According to CNBC, 549 Ukrainians have perished as a result of Russia's invasion thus far. With Ukrainians experiencing direct loss of life and safety, the medical sector is concerned about the turbulence and its impact on global healthcare delivery. These conflicts are interrupting healthcare supply chains and triggering medical supply price surges, which will be borne by health systems. The only option for the industry is to rethink how to mitigate these risks in the future through automation, reshoring, and other supply chain-enhancing strategies. Russia and Ukraine supply a large portion of the world's raw resources for medical equipment, including crude oil, natural gas, and some metals. Because US healthcare institutions rely on common raw materials, a rise in medical supply prices is unavoidable.
GSMSG first assembled a 10-person combat surgery team, which reached Ukraine nine days after Russia invaded. Their mission was to train any interested and capable Ukrainian citizen in combat casualty care, to provide combat trauma care training and surgical support to the civilian Ukrainian medical system, and to provide combat care training to Ukrainian military personnel and military physicians. GSMSG rotated additional teams of surgeons with experience in trauma, surgical critical care, burn, plastics, orthopaedics, vascular, and neurosurgery. GSMSG rotated additional teams of surgeons with experience in trauma, surgical critical care, burn, plastics, orthopaedics, vascular, and neurosurgery. GSMSG also created a collaboration with the Ukrainian Armed Forces, Ukrainian Special Operations Forces (UKRSOF), and Ukrainian Special Surgical Groups, with the support of the Ukrainian Ministry of Defense and Ministry of Health, to offer damage control surgery as close to the scene as possible. as 0.5 kilometers from active action with Russian forces. Since their arrival in Ukraine, GSMSG team members have trained over 20,000 Ukrainian civilians and military personnel. They have also provided surgical support to over 300 patients, some of whom are within 10 kilometers of the battle lines.
IMPACT OF ONGOING RECESSION
Disruptions in the supply chain. Due to global shipping constraints, providers are being forced to negotiate with untrustworthy suppliers and handle price demands for specialty medical items. As a result, medical supply prices increased by 46% last year, exceeding wage increases. Rising energy prices. The Ukraine conflict has resulted in higher transportation prices, which suppliers are now passing on to providers. There is a labor shortage. Nurses and doctors continue to be in short supply. Health-care employment remains below pre-pandemic levels, with a 1.1% (or 176,000) decrease in the number of workers.
By Type Of Service
Maintenance & Repair
Capital Planning
Integrated Software Platform
Labor Management
Supply Chain (Procurement)
Cyber Security
Quality & Regulatory Compliance
By Facility Type
Acute care facility
Acute Hospitals
Childrens Hospitals
Academic Medical Center
Military Treatment Facility
Ambulatory Surgery Center
Post Acute Care Facility
Long-term acute facility
Skilled Nursing Facility
Other
Non-Acute Care Facility
Physicians Offices & Clinics
Other Non-Acute Facilities
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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
REGIONAL ANALYSES
Europe had a significant revenue share of around 30% in the global healthcare technology management industry in 2022, owing to high R&D investments, rapid adoption of technologically advanced solutions, and the presence of global players and their efforts to come up with newer patents. Furthermore, the European market is predicted to create attractive growth possibilities due to enhanced healthcare infrastructure facilities in nations such as Germany and the United Kingdom.
The Asia-Pacific market, on the other hand, is expected to develop the fastest throughout the projection period. This expansion can be traced mostly to booming economies and government attempts to digitalize and automate processes in healthcare facilities and healthcare-related enterprises. In addition, fast urbanization, rising consumer disposable income, hectic lifestyles, rising internet penetration, and growing smartphone adoption are some of the additional reasons driving demand for healthcare technology management in the region.
The major key players are General Electric (GE) Co., ABM Industries, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Sodexo S.A., Crothall Healthcare, inc., TriMedx, LLC, Agility, nc, Renovo Solutions, JANNX Medical Systems, Inc and others.
RENOVO Solution: In 2023, RENOVO Solutions (US) has joined forces with Censinet (US). The collaboration will strive to reduce the cybersecurity risk posed by medical devices and healthcare Internet-of-Things (IoT). Censinet RiskOps, a cloud-based risk exchange that enables the entire automation of third-party risk management via RENOVOSecure, will be offered by Renovo.
Oracle: In 2022, Oracle (US) has introduced the Oracle Fusion Cloud Enterprise Performance Management (EPM) solution, which enables healthcare businesses to swiftly simulate scenarios, optimize resources, forecast future demand, and make better financial, workforce, and patient care decisions.
| Report Attributes | Details |
| Market Size in 2022 | US$ 6.92 Bn |
| Market Size by 2030 | US$ 21.34 Bn |
| CAGR | CAGR of 15.12 % 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 Type Of Service (Maintenance & Repair, Capital Planning, Integrated Software Platform, Labor Management, Supply Chain (Procurement), Cyber Security, Quality & Regulatory Compliance) • By Facility Type (Acute care facility, Acute Hospitals, Childrens Hospitals, Academic Medical Center, Military Treatment Facility, Ambulatory Surgery Center, Post Acute Care Facility, Long-term acute facility, Skilled Nursing Facility, Other, Non-Acute Care Facility, Physicians Offices & Clinics, Other Non-Acute Facilities) |
| 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 | General Electric (GE) Co., ABM Industries, Inc., Siemens Healthineers AG, Koninklijke Philips N.V., Sodexo S.A., Crothall Healthcare, inc., TriMedx, LLC, Agility, nc, Renovo Solutions, JANNX Medical Systems, Inc |
| Key Drivers | • Increased emphasis on preventive medical equipment maintenance |
| Market Restraints | • There is a scarcity of skilled technicians and clinical or biomedical engineers. |
Ans: The Healthcare Technology Management Market is expected to grow at 15.12% CAGR from 2023 to 2030.
Ans: According to our analysis, the Healthcare Technology Management Market is anticipated to reach USD 21.34 billion By 2030.
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 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 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Healthcare Technology Management Market, By Type Of Service
8.1 Maintenance & Repair
8.2 Capital Planning
8.3 Integrated Software Platform
8.4 Labor Management
8.5 Supply Chain (Procurement)
8.6 Cyber Security
8.7 Quality & Regulatory Compliance
9. Healthcare Technology Management Market, By Facility Type
9.1 Acute care facility
9.2 Acute Hospitals
9.3 Childrens Hospitals
9.4 Academic Medical Center
9.5 Military Treatment Facility
9.6 Ambulatory Surgery Center
9.7 Post Acute Care Facility
9.8 Long-term acute facility
9.9 Skilled Nursing Facility
9.10 Other
9.11 Non-Acute Care Facility
9.12 Physicians Offices & Clinics
9.13 Other Non-Acute Facilities
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Healthcare Technology Management Market, by Country
10.2.2North America Healthcare Technology Management Market, By Type Of Service
10.2.3 North America Healthcare Technology Management Market, By Facility Type
10.2.4 USA
10.2.4.1 USA Healthcare Technology Management Market, By Type Of Service
10.2.4.2 USA Healthcare Technology Management Market, By Facility Type
10.2.5 Canada
10.2.5.1 Canada Healthcare Technology Management Market, By Type Of Service
10.2.5.2 Canada Healthcare Technology Management Market, By Facility Type
10.2.6 Mexico
10.2.6.1 Mexico Healthcare Technology Management Market By Type Of Service
10.2.6.2 Mexico Healthcare Technology Management Market By Facility Type
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Healthcare Technology Management Market by Country
10.3.1.2 Eastern Europe Healthcare Technology Management Market By Type Of Service
10.3.1.3 Eastern Europe Healthcare Technology Management Market By Facility Type
10.3.1.4 Poland
10.3.1.4.1 Poland Healthcare Technology Management Market By Type Of Service
10.3.1.4.2 Poland Healthcare Technology Management Market By Facility Type
10.3.1.5 Romania
10.3.1.5.1 Romania Healthcare Technology Management Market By Type Of Service
10.3.1.5.2 Romania Healthcare Technology Management Market By Facility Type
10.3.1.6 Hungary
10.3.1.6.1 Hungary Healthcare Technology Management Market By Type Of Service
10.3.1.6.2 Hungary Healthcare Technology Management Market By Facility Type
10.3.1.7 Turkey
10.3.1.7.1 Turkey Healthcare Technology Management Market By Type Of Service
10.3.1.7.2 Turkey Healthcare Technology Management Market By Facility Type
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Healthcare Technology Management Market By Type Of Service
10.3.1.8.2 Rest of Eastern Europe Healthcare Technology Management Market By Facility Type
10.3.2 Western Europe
10.3.2.1 Western Europe Healthcare Technology Management Market by Country
10.3.2.2 Western Europe Healthcare Technology Management Market By Type Of Service
10.3.2.3 Western Europe Healthcare Technology Management Market By Facility Type
10.3.2.4 Germany
10.3.2.4.1 Germany Healthcare Technology Management Market By Type Of Service
10.3.2.4.2 Germany Healthcare Technology Management Market By Facility Type
10.3.2.5 France
10.3.2.5.1 France Healthcare Technology Management Market By Type Of Service
10.3.2.5.2 France Healthcare Technology Management Market By Facility Type
10.3.2.6 UK
10.3.2.6.1 UK Healthcare Technology Management Market By Type Of Service
10.3.2.6.2 UK Healthcare Technology Management Market By Facility Type
10.3.2.7 Italy
10.3.2.7.1 Italy Healthcare Technology Management Market By Type Of Service
10.3.2.7.2 Italy Healthcare Technology Management Market By Facility Type
10.3.2.8 Spain
10.3.2.8.1 Spain Healthcare Technology Management Market By Type Of Service
10.3.2.8.2 Spain Healthcare Technology Management Market By Facility Type
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Healthcare Technology Management Market By Type Of Service
10.3.2.9.2 Netherlands Healthcare Technology Management Market By Facility Type
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Healthcare Technology Management Market By Type Of Service
10.3.2.10.2 Switzerland Healthcare Technology Management Market By Facility Type
10.3.2.11 Austria
10.3.2.11.1 Austria Healthcare Technology Management Market By Type Of Service
10.3.2.11.2 Austria Healthcare Technology Management Market By Facility Type
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Healthcare Technology Management Market By Type Of Service
10.3.2.12.2 Rest of Western Europe Healthcare Technology Management Market By Facility Type
10.4 Asia-Pacific
10.4.1 Asia Pacific Healthcare Technology Management Market by Country
10.4.2 Asia Pacific Healthcare Technology Management Market By Type Of Service
10.4.3 Asia Pacific Healthcare Technology Management Market By Facility Type
10.4.4 China
10.4.4.1 China Healthcare Technology Management Market By Type Of Service
10.4.4.2 China Healthcare Technology Management Market By Facility Type
10.4.5 India
10.4.5.1 India Healthcare Technology Management Market By Type Of Service
10.4.5.2 India Healthcare Technology Management Market By Facility Type
10.4.6 Japan
10.4.6.1 Japan Healthcare Technology Management Market By Type Of Service
10.4.6.2 Japan Healthcare Technology Management Market By Facility Type
10.4.7 South Korea
10.4.7.1 South Korea Healthcare Technology Management Market By Type Of Service
10.4.7.2 South Korea Healthcare Technology Management Market By Facility Type
10.4.8 Vietnam
10.4.8.1 Vietnam Healthcare Technology Management Market By Type Of Service
10.4.8.2 Vietnam Healthcare Technology Management Market By Facility Type
10.4.9 Singapore
10.4.9.1 Singapore Healthcare Technology Management Market By Type Of Service
10.4.9.2 Singapore Healthcare Technology Management Market By Facility Type
10.4.10 Australia
10.4.10.1 Australia Healthcare Technology Management Market By Type Of Service
10.4.10.2 Australia Healthcare Technology Management Market By Facility Type
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Healthcare Technology Management Market By Type Of Service
10.4.11.2 Rest of Asia-Pacific Healthcare Technology Management Market By Facility Type
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Healthcare Technology Management Market by Country
10.5.1.2 Middle East Healthcare Technology Management Market By Type Of Service
10.5.1.3 Middle East Healthcare Technology Management Market By Facility Type
10.5.1.4 UAE
10.5.1.4.1 UAE Healthcare Technology Management Market By Type Of Service
10.5.1.4.2 UAE Healthcare Technology Management Market By Facility Type
10.5.1.5 Egypt
10.5.1.5.1 Egypt Healthcare Technology Management Market By Type Of Service
10.5.1.5.2 Egypt Healthcare Technology Management Market By Facility Type
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Healthcare Technology Management Market By Type Of Service
10.5.1.6.2 Saudi Arabia Healthcare Technology Management Market By Facility Type
10.5.1.7 Qatar
10.5.1.7.1 Qatar Healthcare Technology Management Market By Type Of Service
10.5.1.7.2 Qatar Healthcare Technology Management Market By Facility Type
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Healthcare Technology Management Market By Type Of Service
10.5.1.8.2 Rest of Middle East Healthcare Technology Management Market By Facility Type
10.5.2 Africa
10.5.2.1 Africa Healthcare Technology Management Market by Country
10.5.2.2 Africa Healthcare Technology Management Market By Type Of Service
10.5.2.3 Africa Healthcare Technology Management Market By Facility Type
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Healthcare Technology Management Market By Type Of Service
10.5.2.4.2 Nigeria Healthcare Technology Management Market By Facility Type
10.5.2.5 South Africa
10.5.2.5.1 South Africa Healthcare Technology Management Market By Type Of Service
10.5.2.5.2 South Africa Healthcare Technology Management Market By Facility Type
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Healthcare Technology Management Market By Type Of Service
10.5.2.6.2 Rest of Africa Healthcare Technology Management Market By Facility Type
10.6 Latin America
10.6.1 Latin America Healthcare Technology Management Market by Country
10.6.2 Latin America Healthcare Technology Management Market By Type Of Service
10.6.3 Latin America Healthcare Technology Management Market By Facility Type
10.6.4 Brazil
10.6.4.1 Brazil Healthcare Technology Management Market By Type Of Service
10.6.4.2 Brazil Healthcare Technology Management Market By Facility Type
10.6.5 Argentina
10.6.5.1 Argentina Healthcare Technology Management Market By Type Of Service
10.6.5.2 Argentina Healthcare Technology Management Market By Facility Type
10.6.6 Colombia
10.6.6.1 Colombia Healthcare Technology Management Market By Type Of Service
10.6.6.2 Colombia Healthcare Technology Management Market By Facility Type
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Healthcare Technology Management Market By Type Of Service
10.6.7.2 Rest of Latin America Healthcare Technology Management Market By Facility Type
11 Company Profile
11.1 General Electric (GE) Co.
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 ABM Industries, Inc.
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 2 Siemens Healthineers AG.
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.Koninklijke Philips N.V.
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Sodexo S.A.
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Crothall Healthcare, inc.
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 TriMedx, LLC.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Agility.
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Renovo Solutions.
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 JANNX Medical Systems, Inc
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Bench marking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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