Healthcare IT Integration Market Scope
Healthcare is one of the most prominent sectors across the industries. Diagnosing and treatment have always remained the important goals of any healthcare organization. Healthcare is a very complex industry that can seem to be highly overwhelming but is not likewise. Healthcare IT integration is the partnership amongst the healthcare providers, vendors, payers, etc. which conveys the data or function from one application to another. Due to the absolute high quantity and diversity of the data, the healthcare providers face main challenges in the integration and further in effectively analyzing that information. The traditionally used health IT systems, like the EHR and PHR systems, used to apply an entirely different technical and semantic standard for depicting and storing data and used to have technical architectures. With all these things, it used to be extremely difficult for the integration of the data properly and easily from multiple and conflicting systems. The integration of IT in healthcare embraces a diversity of automated methods which are used for managing the information about the people's health and also for the healthcare services. Therefore long term integration of healthcare and IT would permit further public health research opportunities and also the population observations so as to identify the real issues.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Infor (United States), InterSystems Corporation (United States), Cerner Corporation (United States), Orion Health (New Zealand), NextGen Healthcare Inc. (United States), iNTERFACEWARE, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (United States), Epic Systems Corporation (United States), AVI-SPL, Inc. (United States), Corepoint Health (United States), MEDITECH (United States), Accenture (Ireland), Cognizant (United States), Oracle Corporation (United States), IBM Corp. (United States) and Siemens Healthcare (Germany) |
CAGR | % |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Healthcare IT Integration market throughout the predicted period.
Infor (United States), InterSystems Corporation (United States), Cerner Corporation (United States), Orion Health (New Zealand), NextGen Healthcare Inc. (United States), iNTERFACEWARE, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (United States), Epic Systems Corporation (United States), AVI-SPL, Inc. (United States), Corepoint Health (United States), MEDITECH (United States), Accenture (Ireland), Cognizant (United States), Oracle Corporation (United States), IBM Corp. (United States) and Siemens Healthcare (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Orchestrate Healthcare (United States), Cerner Corporation (United States), Burwood Group (United States), Boston Software Systems, Inc. (United States) and Liaison Technologies. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Healthcare IT Integration market by Type , by Application (Medical device integration and Healthcare center integration) and Region with country level break-up.
On the basis of geography, the market of Healthcare IT Integration has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2021, Royal Philips a global leader in health technology, today announced that it has signed an agreement to acquire Capsule Technologies, Inc., a leading provider of medical device integration and data technologies for hospitals and healthcare organizations. Capsule’s Medical Device Information Platform - comprised of device integration, vital signs monitoring and clinical surveillance services - connects almost all existing medical devices and EMRs in hospitals through a vendor-neutral system.
In July , 2023 Olympus Corporation, a global medical technology company committed to making people's lives healthier, safer and more fulfilling, announced today U.S. market availability of EASYSUITE™ ES-IP system, its newest procedure room visualization and integration solution.
Influencing Trend:
Increasing focus on offering high-quality patient care through the use of HCIT solutions and Growing Adoption of clinical and non-clinical healthcare IT solutions with the rise in remote patient monitoring
Market Growth Drivers:
The requirement to Meet the Criteria of Meaningful Use To Receive Incentives by the Federal Government and the rising healthcare costs and the growing volume of data generated in healthcare systems
Challenges:
Rising Incidences of Data Breach and Loss of Confidentiality
Restraints:
Fragmented End-User Market Restricts Development of Standard It Platforms and the high cost of HCIT integration
Opportunities:
Consolidating The Healthcare System And The Role Of Software Architecture Oriented Programs, Growing Concerns For Data Security and Shifting Focus Towards Patient-Centric Systems
Key Target Audience
Healthcare IT Service Providers, Government Bodies, Regulatory Authorities, Research organizations, Third-party service providers, Market Research Firms and Others