Market Snapshot:
Health information technology is the application of health technology, particularly information technology, to health and health care. It enables the secure exchange of health information between consumers, providers, payers, and quality monitors as well as the management of health information across computerised systems. Information technology improves healthcare quality by allowing clinicians to communicate more effectively. It improves medical professional collaboration by reducing errors and miscommunication, resulting in better patient care and treatment programme outcomes.
Highlights from Healthcare IT (HIT) - Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.3% |
The key Players profiled in the report are Optum (United States), Cerner (United States), Cognizant (United States), Change Healthcare (United States), Philips Healthcare (Netherlands), Epic Systems (United States), Allscripts (United States), GE Healthcare (United States), IBM (United States) and Athenahealth (United States). Additionally, other players that are part of this comprehensive study are Oracle Corporation (United States) and Infor (United States).
Geographic Breakdown and Segment Analysis
The Global Healthcare IT (HIT) - market presents a comprehensive analysis of the Healthcare IT (HIT) - market by product type (EMR, EHR, MHealth, PHM, LIS, RIS, VNA, PACS, RCM, Analytics, EDI, SCM and HIE), by end-user/application (Hospital, Payor, Pharmacy, Ambulatory and Homecare), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Healthcare IT (HIT) - industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Healthcare IT (HIT) - market
Analyst at AMA have segmented the market study of Global Healthcare IT (HIT) - market by Type, Application and Region.
Influencing Trend:
Rising Use of Big Data
Market Growth Drivers:
Government Mandates & Support for Healthcare IT Solutions, High Returns on Investment for Healthcare IT Solutions and Need to Curtail Escalating Healthcare Costs
Challenges:
Unknown In Manu Regions
Restraints:
IT Infrastructural Constraints in Developing Countries
Opportunities:
Rising Use of Healthcare IT Solutions in Outpatient Care Facilities, Growing Mhealth, Telehealth, and Remote Patient Monitoring Markets, Cloud-Based EHR Solutions and Shift Towards Patient-Centric Healthcare Delivery
Market Developments Activities:
In January , 2022 IBM and Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, today announced that the companies have signed a definitive agreement under which Francisco Partners will acquire healthcare data and analytics assets from IBM that are currently part of the Watson Health business.
In July 2023,Amazon.com company at AWS Summit New York announced AWS HealthScribe, a new HIPAA-eligible service that empowers healthcare software providers to build clinical applications that use speech recognition and generative AI to save clinicians time by generating clinical documentation. With AWS HealthScribe, healthcare software providers can use a single API to automatically create robust transcripts, extract key details (e.g., medical terms and medications), and create summaries from doctor-patient discussions that can then be entered into an electronic health record (EHR) system
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Target Audience
Healthcare IT (HIT) Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others