HEALTHCARE IT MARKET SIZE AND SHARE GROWTH (2019-2027)
- savibangar91
- Apr 16, 2020
- 5 min read
Digitization of healthcare is one of the prime focuses among the governments across the globe. The healthcare IT companies are highly competitive across the globe with the presence of several large and small players. The healthcare clinical IT solutions market is highly fragmented in nature with top five players accounting for less than 25% share of the overall market.
Healthcare IT solutions promise to modernize and streamline healthcare and to connect different stakeholders in the e-health market. Broadly defined, health IT refers to hardware and software, including electronic information systems, used to create, store, transmit, receive and analyze health information.
According to a new report titled “Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud) and End User (Hospital, Payer, Pharmacy, Ambulatory, Homecare) - Global Forecast to 2027”, published by Meticulous Research®, factors such as improving health IT infrastructure, aging population & rising prevalence to chronic diseases, rising awareness about benefits of telemedicine, and favourable government initiatives & reforms/policies are driving the growth of the telehealth solutions market. In addition, importance of self-care, accelerated health costs, and new payment models further supports the growth of this market.
The Healthcare IT Market is projected to grow at a CAGR of 13.8% from 2019 to 2027 to reach $511.06 billion by 2027. The market is primarily driven by shift from volume-based to value-based care, growing volume of patient data, technological advancements, government mandates and financial incentives for adoption of HCIT solutions, increasing awareness of the value of digital health, and high return on IT investment in the healthcare industry. In addition, increasing incidence & prevalence of chronic diseases associated with aging population, growing concern to curtail healthcare cost, and rising use of big data further supports the growth of this market. However, high installation and maintenance cost hinders the growth of the overall healthcare IT market to some extent.
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The global healthcare IT market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2027-by product type [(healthcare provider solutions (clinical and non-clinical solutions), healthcare payer solutions claims management solutions, customer relationship management solutions, fraud analytics solutions, provider network management solutions, pharmacy audit and analysis solutions, member eligibility management solutions, population health management solutions, and payment management solutions), and healthcare IT outsourcing services (provider HCIT outsourcing services, payer HCIT outsourcing services, operational HCIT Outsourcing services, and IT infrastructure management services)], delivery mode (on-premises and wed & cloud based), component (services, software, and hardware), end-user [healthcare providers (hospitals, ambulatory centers, home healthcare & assisted living centers, diagnostic centers, and pharmacies), healthcare payers (public payers and private payers)]. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on product type, healthcare provider solutions segment accounted for the largest share of the overall healthcare IT market in 2019 and is also projected to continue its dominance during the forecast period of 2019-2027. The large share of this segment is mainly attributed to the increasing demand for integrated healthcare solutions, growing focus on patient safety & care, rising investments in development of healthcare infrastructure in the emerging countries, increasing demand for quality healthcare, growing number of government initiatives and regulatory mandates on implementing eHealth solutions, and rising awareness about Electronic Health Records (EHRs) and other eHealth solutions.
Key Players
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 (2016-2020). The key players profiled in the healthcare IT market research report are McKesson Corporation (U.S.), Optum Health (U.S.), International Business Machine Corporation (IBM) (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), athenahealth, Inc. (U.S.), Epic Systems Corporation (U.S.), Dell Technologies Inc. (U.S.), GE Healthcare (U.S.), Cerner Corporation (U.S.), Oracle Corporation (U.S.), Cognizant Technology Solutions Corporation (U.S.), Nuance Communications, Inc. (U.S.), eClinicalWorks (U.S.) NextGen Healthcare, Inc. (U.S.), Computer Programs and Systems, Inc. (CPSI) (U.S.), Conifer Health Solutions, LLC. (U.S.), 3M Company (U.S.), Koninklijke Philips N.V. (The Netherlands), and Infor, Inc. (U.S.)
Scope of the Report:
Scope of the report:
Healthcare IT Market, by Product
Healthcare provider solutions
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
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
Claims Management Solutions
Customer Relationship Management Solutions
Fraud Analytics Solutions
Provider Network Management Solutions
Pharmacy Audit and Analysis Solutions
Healthcare IT Outsourcing Services
Provider HCIT Outsourcing services
Revenue Cycle Management Services
EMR/Medical Document Management Services
Laboratory Information Management Services
Other Provider HCIT Outsourcing Services
Payer HCIT Outsourcing services
Claims Management Services
Provider Network Management Services
Billing & Accounts Management Services
Fraud Analytics Services
Other Payer HCIT Outsourcing Services
Have you any query?? Then speak to our analyst @ https://www.meticulousresearch.com/speak-to-analyst/cp_id=5084
Global Healthcare IT Market, by Delivery Mode
Wed & Cloud Based
On-premises
Global Healthcare IT Market, by Component
Services
Software
Hardware
Global Healthcare IT Market, by End User
Key questions answered in the report-
What is Healthcare IT Market?
What is the market size forecasts and CAGR for the period of 2019-2027?
Which are the largest and fastest-growing product segments of the market?
Which are the largest and fastest-growing end-user segments of the market?
Which are the largest and fastest-growing component segments of the market?
What are the major drivers of the market?
What are the major restraints of the global Healthcare IT market?
Who are the major key players operating in the global Healthcare IT market?
What are high growth countries/regions in the market?
Download Sample Copy of Report, published in March 2020, with key industry insights spread across 444 pages, with 469 market data tables, 54 fig, including all graphs and charts @: https://www.meticulousresearch.com/download-sample-report/cp_id=5084
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