CHICAGO, June 03, 2022 (GLOBE NEWSWIRE) — According to new market research report Healthcare IT Market by products and services (healthcare provider solutions, healthcare payer solutions and HCIT outsourcing services), components (services, software, hardware), end-user and region – global forecast to 2026”, The global healthcare IT market is projected to reach US$821.1 billion by 2026, up from US$326.1 billion in 2021, at a CAGR of 20.3% over the forecast period.
Browse the Healthcare IT Market Detailed TOC
477 – tables
67 – numbers
474 pages
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The growth of this market is mainly due to government mandates and support for the introduction of IT solutions in the healthcare sector; increasing use of big data in the healthcare industry; high return on investment associated with healthcare IT solutions; the need to contain rising healthcare costs; the increasing adoption of HCIT solutions such as e-prescriptions, telemedicine, mHealth due to Covid-19. On the other hand, the lack of IT infrastructure in developing countries, the high cost of delivering HCIT solutions to small and medium-sized hospitals in emerging countries, and resistance from traditional healthcare providers are restraining the market growth to some extent during the forecast period.
By product and service type segments, healthcare provider solutions accounted for the largest market share during the forecast period.
Based on products and services, the Healthcare IT market has been segmented into Healthcare Provider Solutions, Healthcare Payer Solutions and HCIT Outsourcing Services. Factors contributing to the Healthcare Provider Solutions segment’s large revenues include the increasing need to reduce growing healthcare costs, increasing demand for improved patient safety and patient care, and reducing medical errors to improve the efficiency of healthcare services.
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The payer HCIT outsourcing services segment is expected to record the highest growth rate in the HCIT market by HCIT outsourcing services
Based on the HCIT outsourcing services, the payer HCIT outsourcing services segment is expected to register the highest CAGR during the forecast period. Factors responsible for the growth of this segment are the increased need for regulatory compliance, rising customer expectations, high operational costs and intense competition in the market.
The service segment accounted for the largest market share by component during the forecast period.
By component, the largest market share was in the service segment during the forecast period. This can be attributed to the introduction of complex software and the need to ensure software integration and interoperability, as well as the need to implement software updates and upgrades with the changing healthcare regulations
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The research report segments the Healthcare IT Market into the following segments and sub-segments:
Healthcare IT market by products and services
- Solutions for Healthcare Providers
- Clinical Solutions
- hon
- Population Health Management Services
- Specialized information management systems
- PACS & VNA
- Mobile health applications
- HCIT integration systems
- Telemedicine Solutions
- Medical image analysis systems
- laboratory information systems
- practice management systems
- Clinical Decision Support Systems
- Computerized systems for entering doctor’s orders
- cardiovascular information systems
- patient registration software
- Infection Control Solutions
- Radiation Dose Management Solutions
- Non-Clinical Solutions
- Healthcare asset management solutions
- Revenue Cycle Management Solutions
- Front-end RCM solutions
- Mid-RCM solutions
- Back-end RCM solutions
- analytics in healthcare
- Clinical analytics
- financial analysis
- Operational and management analysis
- Customer relationship management solutions
- pharmacy information systems
- Interoperability solutions for healthcare
- Solutions for quality management in healthcare
- Supply Chain Management Solutions
- Supply management solutions
- inventory management solutions
- medication management systems
- electronic drug management systems
- Barcode medication management systems
- Inventory management systems for drugs
- Drug Assurance Systems
- workforce management solutions
- Financial management systems (billing & accounting)
- Information exchange in healthcare
- Solutions for managing medical documents
- Clinical Solutions
- Healthcare payer solutions
- claims management solutions
- Solutions for population health management
- Audit and analytics solutions for pharmacies
- Payment Management Solutions
- Customer relationship management solutions
- Member eligibility management solutions
- Fraud analysis solutions
- Network management solutions for providers
- HCIT Outsourcing Services
- IT infrastructure management services
- Payer HCIT outsourcing services
- Claims Management Services
- Network Management Service Provider
- billing and account management services
- Fraud Analysis Services
- Other Payer HCIT Outsourcing Services
- Providers of HCIT outsourcing services
- Revenue Cycle Management Services
- Medical document management services
- Laboratory Information Management Services
- Other providers HCIT outsourcing services
- Operational HCIT Outsourcing Services
- Supply Chain Management Services
- Business Process Management Services
- Other operational IT outsourcing services
Healthcare IT Market by Component
- Services
- software
- hardware
Healthcare IT Market by End User
- health care provider
- hospitals
- Ambulatory Care Centers
- Home care and assisted living facilities
- Diagnostic and Imaging Centers
- pharmacies
- health care payers
- private payers
- Public payers
Healthcare IT Market by Region
- North America
- Europe
- France
- Germany
- United Kingdom
- Spain
- Italy
- Netherlands
- rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
Asia-Pacific will witness the highest growth in the healthcare IT market during the forecast period.
Asia Pacific is expected to register the highest CAGR during the forecast period. Factors such as a large patient population, particularly in China and India, growing per capita income, rising investments in the healthcare industry by key market players, and rising awareness of advanced technologies are driving the growth of the APAC healthcare IT market.
The major players in the global healthcare IT market include:
- Optimum (USA),
- Cerner (USA),
- Cognizant (USA),
- Change Healthcare (USA),
- Philips Healthcare (Netherlands),
- Epic Systems (USA),
- Dell Technologies (USA),
- Allscripts (USA),
- GE Healthcare (USA),
- IBM (USA),
- Athenahealth (USA),
- eClinicalWorks (USA),
- Oracle Corporation (USA),
- conduit (USA),
- Info (USA),
- Tata Consulting Services (India),
- Wipro Limited (India),
- Conifer Health (USA),
- Nuance (USA),
- 3M (USA),
- Inovalon (USA),
- InterSystems (USA),
- Carestream Health (USA),
- Orion Health (USA),
- Practice Fusion (US) and
- SAS Institute (USA).
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