North America is expected to dominate healthcare IT market during the forecast period. healthcare IT market 2019 Report analyses industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2025.
The healthcare IT market is projected to reach USD 390.7 billion by 2024 from USD 187.6 billion in 2019, at a CAGR of 15.8% during the forecast period.
The growing healthcare IT market volume of patient data, an increase in technological know-how, and demand for quick and efficient healthcare processes and systems are driving the demand for HC IT solutions. This is attributed to large adoption of healthcare IT solutions in this region, stringent regulations regarding quality of healthcare, & increasing need to curtail escalating healthcare costs through healthcare IT solutions.
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Healthcare provider solutions segment is expected to grow at the highest CAGR in the healthcare IT market, by product and services, during the forecast period. This is attributed to government initiatives to improve the quality of patient care and the need to control growing healthcare costs & improve the efficiency of healthcare services.
“The healthcare providers solutions segment accounted for the largest share of the healthcare IT market, by product and services, in 2018”
The Asia Pacific healthcare IT market is estimated to grow at the highest CAGR during the forecast period. Factors such as large patient population, especially in China and India, growing per capita income, increasing investments in the healthcare industry by key market players, and rising awareness of advanced technologies are driving the growth of the APAC healthcare IT market.
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The healthcare provider solutions segment is further categorized into clinical & non-clinical healthcare IT solutions. Clinical solutions segment accounted for largest share of healthcare IT provider solutions market in 2018. Segment is also projected to grow at highest CAGR during forecast period. Growth in this segment is attributed to increasing demand for improved patient safety & patient care, stringent regulations regarding healthcare provider solutions, & need for integrated healthcare systems.
“Growing volume of patient data, an increase in technological know-how, and demand for quick and efficient healthcare processes and systems are driving the demand for HCIT solutions.”
Some of the major players operating in healthcare IT market include Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare (Netherlands), Epic Systems (US), Dell Technologies (US), Allscripts (US), GE Healthcare (US), IBM (US), Athenahealth (US), Oracle Corporation (US), COnduent (US), Infor (US), Tata Consultancy Services (India), Wipro Limited (India), Conifer Health (US), Nuance (US), 3M (US), Inovalon (US), InterSystems (US), Leidos (US), Softheon (US), Omnicell (US), and Ciox Health (US).
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Reasons to buy this report:
In this report, the healthcare IT market is segmented by product and service, component, end user, and region. This report provides detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges).
From an insight perspective, this research report has focused on various levels of analysis—the market share analysis of top players, company profiles that comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the healthcare IT market.