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Healthcare IT - Global Market Trajectory & Analytics

  • ID: 2832329
  • Report
  • September 2020
  • Region: Global
  • 495 Pages
  • Global Industry Analysts, Inc
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FEATURED COMPANIES

  • athenahealth, Inc. (USA)
  • Cerner Corporation (USA)
  • Change Healthcare (USA)
  • CPSI (USA)
  • DXC Technology (USA)
  • eClinicalWorks (USA)
  • MORE
Global Healthcare IT Market to Reach $474.4 Million by 2027

Amid the COVID-19 crisis, the global market for Healthcare IT estimated at US$182.6 Million in the year 2020, is projected to reach a revised size of US$474.4 Million by 2027, growing at a CAGR of 14.6% over the analysis period 2020-2027. Services, one of the segments analyzed in the report, is projected to record a 14.6% CAGR and reach US$271.8 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 15.3% CAGR for the next 7-year period.



The U. S. Market is Estimated at $49.2 Million, While China is Forecast to Grow at 19% CAGR

The Healthcare IT market in the U. S. is estimated at US$49.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$107.6 Million by the year 2027 trailing a CAGR of 19% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.4% and 12.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.5% CAGR.

Hardware Segment to Record 13.1% CAGR

In the global Hardware segment, USA, Canada, Japan, China and Europe will drive the 12.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$18.9 Million in the year 2020 will reach a projected size of US$42.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$72.1 Million by the year 2027, while Latin America will expand at a 14.7% CAGR through the analysis period. We bring years of research experience to this 18th edition of our report. The 495-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • Agfa Healthcare NV
  • Allscripts Healthcare Solutions Inc.
  • athenahealth, Inc.
  • Carestream Health, Inc.
  • Cerner Corp.
  • Change Healthcare
  • CPSI
  • DXC Technology
  • eClinicalWorks
  • Epic Systems Corp.
  • GE Healthcare
  • HealthCare Management Systems
  • McKesson Corp.
  • Medidata Solutions
  • Omnicell, Inc.
  • OmniComm Systems, Inc.
  • Philips Healthcare
  • Vizient Inc.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • athenahealth, Inc. (USA)
  • Cerner Corporation (USA)
  • Change Healthcare (USA)
  • CPSI (USA)
  • DXC Technology (USA)
  • eClinicalWorks (USA)
  • MORE
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • IT and Healthcare Industry
  • Recent Market Activity
  • Progression of IT in Healthcare
  • Technology Developments Assure Enterprise-Wide Healthcare IT Progression
  • Artificial Intelligence and Machine Learning Emerge as Top IT Initiatives
  • Data Analytics Plays a Vital Role in Digitization of Healthcare
  • Current and Future Analysis
  • Increasing Complexity of Healthcare Operations to Spur Demand for IT Systems
  • Impact of Economic Uncertainties on Healthcare IT Market
  • Healthcare Budget Cuts: A Review
  • Government Initiatives Encourage Market Growth
  • Developing Markets Promise Lucrative Potential
  • Global Competitor Market Shares
  • Healthcare IT Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Agfa Healthcare NV (Belgium)
  • Allscripts Healthcare Solutions Inc. (USA)
  • athenahealth, Inc. (USA)
  • Carestream Health, Inc. (USA)
  • Cerner Corporation (USA)
  • Change Healthcare (USA)
  • CPSI (USA)
  • DXC Technology (USA)
  • eClinicalWorks (USA)
  • Epic Systems Corporation (USA)
  • GE Healthcare (USA)
  • HealthCare Management Systems (USA)
  • McKesson Corporation (USA)
  • Medidata Solutions (USA)
  • Omnicell, Inc. (USA)
  • OmniComm Systems, Inc. (USA)
  • Philips Healthcare (The Netherlands)
  • Vizient Inc. (USA)
3. MARKET TRENDS & DRIVERS
  • Aging Population Drives Demand for Healthcare IT
  • Growing Preference for Paperless Environment Propels Growth
  • Healthcare IT Emerges as a Key Beneficiary of Big Data Phenomenon
  • Cloud - An Emerging Paradigm for Healthcare IT
  • Storing Patient Health Information on Cloud
  • Proliferation of Smart Devices Bodes Well for Mobile Healthcare Market
  • Relentless Craze for Smartphones Augurs Well for the Market
  • Increasing Role of Social Media in Healthcare Delivery
  • Hospitals Intensify Adoption of IT Systems
  • Demand for Affordable yet Quality Healthcare Fuels Growth
  • Remote Patient Monitoring and Telehealth Services Gain Popularity
  • Hospital Information Systems - A Key Source of Information
  • Bright Prospects Await PACS
  • EHRs: A Leading Growth Segment
  • Cardiology IT Systems Gain Popularity
  • CPOE Implementation Continues to Rise
  • Technological Developments: Spearheading Growth
  • Healthcare Analytics Continue to Gain Prominence
  • Efficient Desktop Management - Need of the Hour
  • Outsourcing - A Relatively New Phenomenon
  • Key Issues Facing Healthcare IT Market
  • Data Security: A Cause of Concern
  • Complexities in Building IT Infrastructures
  • Inconsistent Regulatory Environment
  • Lack of Adequate Funding
  • Lack of Interoperability between Technologies
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Market Facts & Figures
  • US Healthcare IT Market Share (in %) by Company: 2018 & 2025
  • Market Analytics
CANADA

JAPAN

CHINA

EUROPE
  • Market Facts & Figures
  • European Healthcare IT Market: Competitor Market Share Scenario (in %) for 2018 & 2025
  • Market Analytics
FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 147
Note: Product cover images may vary from those shown
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  • Agfa Healthcare NV (Belgium)
  • Allscripts Healthcare Solutions Inc. (USA)
  • athenahealth, Inc. (USA)
  • Carestream Health, Inc. (USA)
  • Cerner Corporation (USA)
  • Change Healthcare (USA)
  • CPSI (USA)
  • DXC Technology (USA)
  • eClinicalWorks (USA)
  • Epic Systems Corporation (USA)
  • GE Healthcare (USA)
  • HealthCare Management Systems (USA)
  • McKesson Corporation (USA)
  • Medidata Solutions (USA)
  • Omnicell, Inc. (USA)
  • OmniComm Systems, Inc. (USA)
  • Philips Healthcare (The Netherlands)
  • Vizient Inc. (USA)
Note: Product cover images may vary from those shown
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