About Health Care IT
Healthcare IT refers to the technology widely used in health care industry which involves designing, development, creation, use and maintenance of the information system. Healthcare IT is expected to grow significantly owing to rise in need to manage regulatory compliance through healthcare IT solutions, high return on Investment for HCIT solution and emergence of accountable care organization.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 14.24% |
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. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Health Care IT market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mckesson Corporation, (United States), Epic Systems Corporation (United States), 3M Health Information Systems (United States), Cerner Corporation (United States), GE Healthcare (United States), IBM (United States), Optum (United States), Philips Healthcare (Netherlands), Athenahealth, Inc. (United States), Allscripts Healthcare Solutions, Inc. (United States), Oracle Corporation (United States), Cognizant Technology Solutions Corporation (United States), Dell Technologies (United States) and Infor, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Siemens (Germany), Conifer Health Solutions (United States), Kronos Incorporated (United States), Anthelio Healthcare Solutions Inc. (United States), Lexmark Healthcare (United States) and Wipro Technologies (India).
Segmentation Overview
AMA Research has segmented the market of Global Health Care IT market by Type (EHR, RIS, PACS, VNA, CPOE, Health Information Exchanges (HIE), Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management and Claims Management), Application (Hospitals, Clinics and Household) and Region.
On the basis of geography, the market of Health Care IT 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End User, the sub-segment i.e. Healthcare providers will boost the Health Care IT market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advanced Technology Used for Patient Records among Healthcare Organization and Increasing Need for Medical Image Management and Telehealth Solution
Market Growth Drivers:
Increasing Acceptance of Health Information Exchanges (HIE’s) and EHR Systems, Quality Healthcare Services & Solutions Along with Patient Safety & Care, Government Support and High Return in Investment for HCIT Solution and Focused Towards Improving the Quality of Clinical Care
Challenges:
Data Privacy and Security Concerns and Lack of Experts Professionals in Healthcare Industry
Restraints:
Reluctance among medical professionals to adopt advanced healthcare it tools
Opportunities:
Government Initiatives and Increasing Adoption of mhealth & telehealth Practices, Rising Consolidation in Healthcare Industry and Growing Adoption of Smart Phones and Connected Devices
Market Leaders and their expansionary development strategies
GE HealthCare acquired MIM Software, a global provider of medical imaging analysis and artificial intelligence (AI) solutions for the practice of radiation oncology, molecular radiotherapy, diagnostic imaging, and urology at imaging centers, hospitals, specialty clinics, and research organizations worldwide. GE HealthCare expects to leverage MIM Software’s imaging analytics and digital workflow capabilities across various care areas to accelerate innovation and differentiate its solutions for the benefit of patients and healthcare systems around the world.
In October 2023, Microsoft Launched New AI Solutions To Help Unlock The Power Of Healthcare Data. New launch is healthcare-specific data solutions in Fabric to help healthcare organizations unify data across siloed formats and sources to provide them a more robust way to analyze and generate insights from this data.
Key Target Audience
Healthcare IT Solution Providers, Healthcare IT Vendors, Healthcare IT Service Providers, Healthcare Payers, Academic Research Institutes, Government Institutes, Market Research and Consulting Firms and Venture Capitalists and Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.