Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service, Hardware), Delivery Mode (Web, Cloud) and End User (Hospital, Payer, Pharmacy, Ambulatory, Homecare) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2035
- PUBLISHED ON
- 9/1/2022
- NO OF PAGES
- 283
- CATEGORY
- Others
The global healthcare information technology (IT) market size was valued at $276 Billion in 2021, and is projected to reach $956.3 Billion by 2031, registering a CAGR of 11.96% from 2022 to 2031.
The market is primarily driven by the transition from volume-based to value-based care, the expansion of patient data, technological advancements, government mandates and financial incentives for HCIT solution adoption, growing public awareness of the importance of digital health, and the high return on IT investment in the healthcare sector. A growing desire to reduce healthcare costs, rising use of big data, and rising incidence and prevalence of chronic diseases linked to an ageing population all contribute to the market's expansion. High installation and maintenance costs, however, in some ways restrain the expansion of the healthcare IT sector as a whole.
Market Dynamics
Healthcare IT solutions assist enterprises in establishing a paperless workplace, giving doctors constant access to the patient's medical records. For doctors, this leads to better judgement and fewer medical errors; for hospitals, it streamlines the exchange of health information, improves workflow management, and lowers total operating costs associated with providing treatment.
The delivery of high-quality, error-free healthcare is made possible through healthcare informatics. Electronic health records give doctors access to more accurate prescriptions and safer patient information transmission. Additionally, they aid in the accurate and thorough documenting of patients' medical histories. HCIT systems help to improve decision support and make it easier to track unexpected drug interactions thanks to connected infrastructure. With the adoption of various HCIT tools and solutions, healthcare institutions throughout the world are concentrating on automating their systems and operational procedures.
COVID Impact
Everybody is aware that the COVID-19 outbreak has altered the rules of the game. It has had a significant impact on most markets and made adapting to the new reality necessary.
The field of our healthcare has been attacked by the coronavirus epidemic. We now face difficulties like restricted mobility, improved information control, a nearly universal feeling of fear and anxiety, and the possibility of healthcare inefficiencies. We found ourselves in a scenario where we had to adjust to the new reality due to exceptional circumstances.
The pandemic caused by COVID-19 has had a significant impact on the community, businesses, universities, and healthcare services. The pandemic has intensified efforts to utilize cutting-edge technologies to counter the COVID-19 threat to its existence. As a result, telehealth, remote work, and online education are all becoming increasingly important in assisting the community in halting the spread of the coronavirus.
Regional Trend
During the forecast period, the healthcare IT market in Asia-Pacific is anticipated to expand at the fastest rate. The development in this market is supposed to be driven by rising interests in medical services foundation advancements, arising pattern towards the digitization of patient records, sped up financial development of numerous nations in the locale, rising need to control the taking off medical care costs, and essentially taking off understanding populace with ongoing and irresistible sicknesses.
Competitive Landscape
The report includes competitive landscape based on the extensive assessment of the product portfolio offering, geographic presence, and key strategic developments adopted by the leading market players in the industry over the past 5 years. The key players profiled in the healthcare IT market research report are McKesson Corporation, Optum Health, International Business Machine Corporation (IBM), Allscripts Healthcare Solutions, Inc, athenahealth, Inc, Epic Systems Corporation, Dell Technologies Inc, GE Healthcare, Cerner Corporation, Oracle Corporation, Cognizant Technology Solutions Corporation, Nuance Communications, Inc, eClinicalWorks, NextGen Healthcare, Inc, Computer Programs and Systems, Inc. (CPSI), Conifer Health Solutions, LLC, 3M Company, Koninklijke Philips N.V, and Infor, Inc.
By Product
• Healthcare provider solutions
o Clinical Healthcare IT Solutions
Electronic Health Record (EHR)
PACS & VNA
Computerized Physician Order Entry
Clinical Decision Support System (CDSS)
E-Prescribing system
Patient Engagement Solutions
Radiology Information Systems (RIS)
Radiation Dose Management Solutions
Specialty Information Management Systems
Medical Image Analysis Systems
Population Health Management Solutions
Care Management Systems
Patient Registry Software
Laboratory Information Systems
mheath Solutions
Telemedicine
HCIT Integration Systems
Infection Surveillance Solutions
Practice Management Systems
o Non-Clinical Healthcare IT Solutions
Pharmacy Information Systems
Healthcare Asset Management Solutions
Healthcare Workforce Management Solutions
Revenue Cycle Management Solutions
Front-End RCM Solutions
Mid-RCM Solutions
Back-End RCM
Medical Document Management Solutions
Healthcare Information Exchanges
Supply Chain Management Solutions
Healthcare Analytics
Clinical Analytics
Financial Analytics
Operational and Administrative Analytics
Customer Relationship Management Solutions
Medication Management Solutions
Electronic Medication Administration Software
Barcode Medication Administration Systems
Medication Inventory Management Systems
Medication Assurance Systems
Healthcare Quality Management Solutions
Healthcare Interoperability Solutions
Financial Management Systems (Billing & Accounting)
• Healthcare payer solutions
o Claims Management Solutions
o Customer Relationship Management Solutions
o Fraud Analytics Solutions
o Provider Network Management Solutions
o Pharmacy Audit and Analysis Solutions
o Member Eligibility Management Solutions
o Population Health Management Solutions
o Payment Management Solutions
• Healthcare IT Outsourcing Services
o Provider HCIT Outsourcing services
Revenue Cycle Management Services
EMR/Medical Document Management Services
Laboratory Information Management Services
Other Provider HCIT Outsourcing Services
o Payer HCIT Outsourcing services
Claims Management Services
Provider Network Management Services
Billing & Accounts Management Services
Fraud Analytics Services
Other Payer HCIT Outsourcing Services
o Operational HCIT Outsourcing Services
Business Process Management Services
Supply Chain Management Services
Other Operational IT Outsourcing Services
o IT Infrastructure Management Services
By Delivery Mode
• Wed & Cloud-Based
• On-premises
By Component
• Services
• Software
• Hardware
By End User
• Healthcare Providers
o Hospitals
o Ambulatory Centers
o Home healthcare & Assisted Living Centers
o Diagnostic Centers
o Pharmacies
• Healthcare Payers
o Private payers
o Public payers
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Historic Year: 2016-2022
Forecast: 2024-2035
1 Healthcare IT Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Healthcare IT
1.3 Healthcare IT Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Healthcare IT
1.4.2 Applications of Healthcare IT
1.5 Market Exchange Rate
2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source
3 Market Competition Analysis
3.1 Cognizant Market Performance Analysis
3.1.1 Cognizant Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Cognizant Sales, Value, Price, Gross Margin 2016-2021
3.2 GE Healthcare Market Performance Analysis
3.2.1 GE Healthcare Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 GE Healthcare Sales, Value, Price, Gross Margin 2016-2021
3.3 Dell Technologies Market Performance Analysis
3.3.1 Dell Technologies Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Dell Technologies Sales, Value, Price, Gross Margin 2016-2021
3.4 Infor, Inc. Market Performance Analysis
3.4.1 Infor, Inc. Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 Infor, Inc. Sales, Value, Price, Gross Margin 2016-2021
3.5 Allscripts Healthcare Solutions, Inc. Market Performance Analysis
3.5.1 Allscripts Healthcare Solutions, Inc. Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Allscripts Healthcare Solutions, Inc. Sales, Value, Price, Gross Margin 2016-2021
3.6 Cerner Corporation Market Performance Analysis
3.6.1 Cerner Corporation Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 Cerner Corporation Sales, Value, Price, Gross Margin 2016-2021
3.7 McKesson Corporation Market Performance Analysis
3.7.1 McKesson Corporation Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 McKesson Corporation Sales, Value, Price, Gross Margin 2016-2021
3.8 CVS Health Market Performance Analysis
3.8.1 CVS Health Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 CVS Health Sales, Value, Price, Gross Margin 2016-2021
3.9 Epic Systems Corporation Market Performance Analysis
3.9.1 Epic Systems Corporation Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 Epic Systems Corporation Sales, Value, Price, Gross Margin 2016-2021
3.10 Optum Market Performance Analysis
3.10.1 Optum Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Optum Sales, Value, Price, Gross Margin 2016-2021
3.11 Oracle Corporation Market Performance Analysis
3.11.1 Oracle Corporation Basic Information
3.11.2 Product and Service Analysis
3.11.3 Strategies for Company to Deal with the Impact of COVID-19
3.11.4 Oracle Corporation Sales, Value, Price, Gross Margin 2016-2021
3.12 Change Healthcare Market Performance Analysis
3.12.1 Change Healthcare Basic Information
3.12.2 Product and Service Analysis
3.12.3 Strategies for Company to Deal with the Impact of COVID-19
3.12.4 Change Healthcare Sales, Value, Price, Gross Margin 2016-2021
3.13 Athenahealth, Inc. Market Performance Analysis
3.13.1 Athenahealth, Inc. Basic Information
3.13.2 Product and Service Analysis
3.13.3 Strategies for Company to Deal with the Impact of COVID-19
3.13.4 Athenahealth, Inc. Sales, Value, Price, Gross Margin 2016-2021
4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Healthcare IT Production and Value by Type
4.1.1 Global Healthcare IT Production by Type 2016-2021
4.1.2 Global Healthcare IT Market Value by Type 2016-2021
4.2 Global Healthcare IT Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Healthcare Provider Solutions Market Production, Value and Growth Rate
4.2.2 Healthcare Payer Solutions Market Production, Value and Growth Rate
4.2.3 Hcit Outsourcing Services Market Production, Value and Growth Rate
4.3 Global Healthcare IT Production and Value Forecast by Type
4.3.1 Global Healthcare IT Production Forecast by Type 2021-2026
4.3.2 Global Healthcare IT Market Value Forecast by Type 2021-2026
4.4 Global Healthcare IT Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Healthcare Provider Solutions Market Production, Value and Growth Rate Forecast
4.4.2 Healthcare Payer Solutions Market Production, Value and Growth Rate Forecast
4.4.3 Hcit Outsourcing Services Market Production, Value and Growth Rate Forecast
5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Healthcare IT Consumption and Value by Application
5.1.1 Global Healthcare IT Consumption by Application 2016-2021
5.1.2 Global Healthcare IT Market Value by Application 2016-2021
5.2 Global Healthcare IT Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Hospitals Market Consumption, Value and Growth Rate
5.2.2 Ambulatory Care Centers Market Consumption, Value and Growth Rate
5.2.3 Diagnostic & Imaging Centers Market Consumption, Value and Growth Rate
5.2.4 Pharmacies Market Consumption, Value and Growth Rate
5.2.5 Others Market Consumption, Value and Growth Rate
5.3 Global Healthcare IT Consumption and Value Forecast by Application
5.3.1 Global Healthcare IT Consumption Forecast by Application 2021-2026
5.3.2 Global Healthcare IT Market Value Forecast by Application 2021-2026
5.4 Global Healthcare IT Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Hospitals Market Consumption, Value and Growth Rate Forecast
5.4.2 Ambulatory Care Centers Market Consumption, Value and Growth Rate Forecast
5.4.3 Diagnostic & Imaging Centers Market Consumption, Value and Growth Rate Forecast
5.4.4 Pharmacies Market Consumption, Value and Growth Rate Forecast
5.4.5 Others Market Consumption, Value and Growth Rate Forecast
6 Global Healthcare IT by Region, Historical Data and Market Forecasts
6.1 Global Healthcare IT Sales by Region 2016-2021
6.2 Global Healthcare IT Market Value by Region 2016-2021
6.3 Global Healthcare IT Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Healthcare IT Sales Forecast by Region 2021-2026
6.5 Global Healthcare IT Market Value Forecast by Region 2021-2026
6.6 Global Healthcare IT Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa
7 United State Market Size Analysis 2016-2026
7.1 United State Healthcare IT Value and Market Growth 2016-2021
7.2 United State Healthcare IT Sales and Market Growth 2016-2021
7.3 United State Healthcare IT Market Value Forecast 2021-2026
8 Canada Market Size Analysis 2016-2026
8.1 Canada Healthcare IT Value and Market Growth 2016-2021
8.2 Canada Healthcare IT Sales and Market Growth 2016-2021
8.3 Canada Healthcare IT Market Value Forecast 2021-2026
9 Germany Market Size Analysis 2016-2026
9.1 Germany Healthcare IT Value and Market Growth 2016-2021
9.2 Germany Healthcare IT Sales and Market Growth 2016-2021
9.3 Germany Healthcare IT Market Value Forecast 2021-2026
10 UK Market Size Analysis 2016-2026
10.1 UK Healthcare IT Value and Market Growth 2016-2021
10.2 UK Healthcare IT Sales and Market Growth 2016-2021
10.3 UK Healthcare IT Market Value Forecast 2021-2026
11 France Market Size Analysis 2016-2026
11.1 France Healthcare IT Value and Market Growth 2016-2021
11.2 France Healthcare IT Sales and Market Growth 2016-2021
11.3 France Healthcare IT Market Value Forecast 2021-2026
12 Italy Market Size Analysis 2016-2026
12.1 Italy Healthcare IT Value and Market Growth 2016-2021
12.2 Italy Healthcare IT Sales and Market Growth 2016-2021
12.3 Italy Healthcare IT Market Value Forecast 2021-2026
13 Spain Market Size Analysis 2016-2026
13.1 Spain Healthcare IT Value and Market Growth 2016-2021
13.2 Spain Healthcare IT Sales and Market Growth 2016-2021
13.3 Spain Healthcare IT Market Value Forecast 2021-2026
14 Russia Market Size Analysis 2016-2026
14.1 Russia Healthcare IT Value and Market Growth 2016-2021
14.2 Russia Healthcare IT Sales and Market Growth 2016-2021
14.3 Russia Healthcare IT Market Value Forecast 2021-2026
15 China Market Size Analysis 2016-2026
15.1 China Healthcare IT Value and Market Growth 2016-2021
15.2 China Healthcare IT Sales and Market Growth 2016-2021
15.3 China Healthcare IT Market Value Forecast 2021-2026
16 Japan Market Size Analysis 2016-2026
16.1 Japan Healthcare IT Value and Market Growth 2016-2021
16.2 Japan Healthcare IT Sales and Market Growth 2016-2021
16.3 Japan Healthcare IT Market Value Forecast 2021-2026
17 South Korea Market Size Analysis 2016-2026
17.1 South Korea Healthcare IT Value and Market Growth 2016-2021
17.2 South Korea Healthcare IT Sales and Market Growth 2016-2021
17.3 South Korea Healthcare IT Market Value Forecast 2021-2026
18 Australia Market Size Analysis 2016-2026
18.1 Australia Healthcare IT Value and Market Growth 2016-2021
18.2 Australia Healthcare IT Sales and Market Growth 2016-2021
18.3 Australia Healthcare IT Market Value Forecast 2021-2026
19 Thailand Market Size Analysis 2016-2026
19.1 Thailand Healthcare IT Value and Market Growth 2016-2021
19.2 Thailand Healthcare IT Sales and Market Growth 2016-2021
19.3 Thailand Healthcare IT Market Value Forecast 2021-2026
20 Brazil Market Size Analysis 2016-2026
20.1 Brazil Healthcare IT Value and Market Growth 2016-2021
20.2 Brazil Healthcare IT Sales and Market Growth 2016-2021
20.3 Brazil Healthcare IT Market Value Forecast 2021-2026
21 Argentina Market Size Analysis 2016-2026
21.1 Argentina Healthcare IT Value and Market Growth 2016-2021
21.2 Argentina Healthcare IT Sales and Market Growth 2016-2021
21.3 Argentina Healthcare IT Market Value Forecast 2021-2026
22 Chile Market Size Analysis 2016-2026
22.1 Chile Healthcare IT Value and Market Growth 2016-2021
22.2 Chile Healthcare IT Sales and Market Growth 2016-2021
22.3 Chile Healthcare IT Market Value Forecast 2021-2026
23 South Africa Market Size Analysis 2016-2026
23.1 South Africa Healthcare IT Value and Market Growth 2016-2021
23.2 South Africa Healthcare IT Sales and Market Growth 2016-2021
23.3 South Africa Healthcare IT Market Value Forecast 2021-2026
24 Egypt Market Size Analysis 2016-2026
24.1 Egypt Healthcare IT Value and Market Growth 2016-2021
24.2 Egypt Healthcare IT Sales and Market Growth 2016-2021
24.3 Egypt Healthcare IT Market Value Forecast 2021-2026
25 UAE Market Size Analysis 2016-2026
25.1 UAE Healthcare IT Value and Market Growth 2016-2021
25.2 UAE Healthcare IT Sales and Market Growth 2016-2021
25.3 UAE Healthcare IT Market Value Forecast 2021-2026
26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia Healthcare IT Value and Market Growth 2016-2021
26.2 Saudi Arabia Healthcare IT Sales and Market Growth 2016-2021
26.3 Saudi Arabia Healthcare IT Market Value Forecast 2021-2026
27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
}})
Select a license type that suits your business needs
US $3950
Only Three Thousand Nine Hundred Fifty US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4950
Only Four Thousand Nine Hundred Fifty US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5950
Only Five Thousand Nine Hundred Fifty US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI