Global Healthcare IT Market size is projected to be valued $450 Billion by 2025; with a CAGR of 13.3% from 2017 to 2025. Healthcare IT allows exchange of health-related information among organizations electronically. Moreover, IT services in healthcare are mostly used to maintain patients’ database through advanced software. The complete database of patients is recorded by the software which can be searched instantly in an emergency. Rising trend of home healthcare among patients have increased the penetration of healthcare IT market. Rising consumer awareness towards enhanced healthcare facilities have increased also increased the adoption of IT service.
Rise in awareness towards patient safety and patient care, need for integrated healthcare systems, and stringent regulations regarding healthcare provider solutions are the major factors driving the global healthcare IT market. However, increased cost of IT adoption may hamper the market growth. Increased demand for advanced analytics tools to improve the quality and efficiency of healthcare industry would provide several growth opportunities for the market in coming years.
The global healthcare IT market is bifurcated by type, end user, and geography. The segment by type includes healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. The healthcare provider solution is further categorized into clinical solutions and non-clinical healthcare IT solutions. Healthcare providers and healthcare payers are the various segmentations of healthcare IT market by end user. By type, the healthcare provider solutions segment accounted for more than half of the total market share in 2016. Healthcare providers was the highest revenue generating segment by end user, accounting for more than two third of the total market share in 2016. Geographically, the market is categorized into North America, Europe, Asia-Pacific and Rest of the world.
Based on geography, the market has been segmented into North America, Europe, Asia Pacific and RoW. The U.S., Canada, and Mexico are covered under North America wherein Europe covers Germany, France, United Kingdom, Italy, Spain and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in this market are Allscripts Healthcare Solutions, Inc., Infosys, athenahealth, Inc., McKesson Corporation, Accenture, Epic Systems Corporation, United Healthcare Group, GE Healthcare, Siemens Healthcare, Cerner Corporation, Philips, and Carestream Health, among others.
The report covers
Scope of the Global Healthcare IT Market
End User Segments