The global healthcare IT market reached a value of US$ 260.5 billion in 2021. Looking forward, the market is projected to reach US$ 552.8 billion by 2027, exhibiting at a CAGR of 13.38% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.
The term healthcare refers to the diagnosis, treatment and prevention of diseases or illnesses, and other physical and mental impairments. The healthcare industry along with information technology (IT) functions to manage, regulate, and mechanize operations in medical organizations. The use of modern techniques in the health and wellness sector offers an effective patient-centric approach for medical treatments and enables smooth communication between the doctors, patients, and other concerned people. The healthcare IT infrastructure also includes computerized physician order entry systems, electronic health management and medical record keeping. Governments across the globe are investing in digital health to improve the standards of healthcare services, as well as to develop and enact numerous roadmaps and national strategies. Moreover, changing demographic trends such as rising ageing population and an increasing prevalence of lifestyle diseases are straining the current healthcare infrastructure and resources. Better disease management and accessible care have become essential to cater to the rising healthcare requirements. It has also become essential to accelerate the development of IT solutions to improve coordination in chronic disease management and promote preventive care. Additionally, patients, employers, and healthcare providers are increasingly embracing digital health.
Catalyzed by rising healthcare consumerism, patients also increasingly demanding access and efficient management of their healthcare data. Furthermore, the growing prevalence of chronic lifestyle diseases and rising demand for safety and confidentiality of patient information have driven the requirement of IT services in the healthcare sector. Additionally, there has been a significant rise in the number of patients who require constant medical attention. The consequent need to reduce the per-patient time of doctors and to increase the efficiency of treatment has further created growth prospects for the market. The healthcare IT solutions are also projected to play a significant role in automating the entire treatment process including the admission of patients, maintaining records of treatments, and scheduling follow-ups.
This report provides an analysis of the key trends in each sub-segment of the global healthcare IT market, along with forecasts at the global and regional level from 2022-2027. The report has categorized the market based on product and services, component, delivery mode and End-user.
The report has also analyzed the competitive landscape of the market with some of the key players being General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Wipro Limited, Oracle Corporation, International Business Machines (IBM) Corporation, SAS Institute Inc., Dell Technologies Inc., McKesson Corporation, Epic Systems Corporation, Athenahealth, Inc. and Infor, Inc., etc.
The term healthcare refers to the diagnosis, treatment and prevention of diseases or illnesses, and other physical and mental impairments. The healthcare industry along with information technology (IT) functions to manage, regulate, and mechanize operations in medical organizations. The use of modern techniques in the health and wellness sector offers an effective patient-centric approach for medical treatments and enables smooth communication between the doctors, patients, and other concerned people. The healthcare IT infrastructure also includes computerized physician order entry systems, electronic health management and medical record keeping. Governments across the globe are investing in digital health to improve the standards of healthcare services, as well as to develop and enact numerous roadmaps and national strategies. Moreover, changing demographic trends such as rising ageing population and an increasing prevalence of lifestyle diseases are straining the current healthcare infrastructure and resources. Better disease management and accessible care have become essential to cater to the rising healthcare requirements. It has also become essential to accelerate the development of IT solutions to improve coordination in chronic disease management and promote preventive care. Additionally, patients, employers, and healthcare providers are increasingly embracing digital health.
Catalyzed by rising healthcare consumerism, patients also increasingly demanding access and efficient management of their healthcare data. Furthermore, the growing prevalence of chronic lifestyle diseases and rising demand for safety and confidentiality of patient information have driven the requirement of IT services in the healthcare sector. Additionally, there has been a significant rise in the number of patients who require constant medical attention. The consequent need to reduce the per-patient time of doctors and to increase the efficiency of treatment has further created growth prospects for the market. The healthcare IT solutions are also projected to play a significant role in automating the entire treatment process including the admission of patients, maintaining records of treatments, and scheduling follow-ups.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global healthcare IT market, along with forecasts at the global and regional level from 2022-2027. The report has categorized the market based on product and services, component, delivery mode and End-user.
Breakup by Product and Services:
- Healthcare Provider Solutions
- Clinical Solutions
- Nonclinical Healthcare IT Solutions
- Healthcare Payer Solutions
- Pharmacy Audit and Analysis Systems
- Claims Management Solutions
- Analytics and Fraud Management Solutions
- Member Eligibility Management Solutions
- Provider Network Management Solutions
- Billing and Accounts (Payment) Management Solutions
- Customer Relationship Management Solutions
- Population Health Management Solutions
- Other Payer Solutions
- Healthcare IT Outsourcing Services
- Provider HCIT Outsourcing Services Market
- Payer IT Outsourcing Services
- Operational IT Outsourcing Services
Breakup by Component:
- Software
- Hardware
- Services
Breakup by Delivery Mode:
- On-Premise
- Cloud-Based
Breakup by End-user:
- Healthcare Providers
- Hospitals
- Ambulatory Care Centers
- Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
- Diagnostic and Imaging Centers
- Pharmacies
- Healthcare Payers
- Private Payers
- Public Payers
- Others
Breakup by Region:
- Europe
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape
The report has also analyzed the competitive landscape of the market with some of the key players being General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Wipro Limited, Oracle Corporation, International Business Machines (IBM) Corporation, SAS Institute Inc., Dell Technologies Inc., McKesson Corporation, Epic Systems Corporation, Athenahealth, Inc. and Infor, Inc., etc.
Key Questions Answered in This Report
- How has the global healthcare IT market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global healthcare IT industry?
- What has been the impact of COVID-19 on the global healthcare IT market?
- What is the breakup of the market based on the product and services?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the delivery mode?
- What is the breakup of the market based on the End-user?
- What are the various stages in the value chain of the global healthcare IT industry?
- What are the key driving factors and challenges in the global healthcare IT industry?
- What is the structure of the global healthcare IT industry and who are the key players?
- What is the degree of competition in the global healthcare IT industry?
- What are the profit margins in the global healthcare IT industry?
Frequently Asked Questions about the Global Healthcare IT Market
What is the estimated value of the Global Healthcare IT Market?
What is the growth rate of the Global Healthcare IT Market?
What is the forecasted size of the Global Healthcare IT Market?
Who are the key companies in the Global Healthcare IT Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 112 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 260.5 Billion |
| Forecasted Market Value ( USD | $ 552.8 Billion |
| Compound Annual Growth Rate | 13.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis
2 Scope and Methodology
4 Introduction
5 Global Healthcare IT Market
6 Market Breakup by Product and Services
7 Market Breakup by Component
8 Market Breakup by Delivery Mode
9 Market Breakup by End-User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- General Electric Company
- Koninklijke Philips N.V.
- Siemens Healthineers AG
- Cerner Corporation
- Allscripts Healthcare Solutions Inc.
- Wipro Limited
- Oracle Corporation
- International Business Machines (IBM) Corporation
- SAS Institute Inc.
- Dell Technologies Inc.
- McKesson Corporation
- Epic Systems Corporation
- Athenahealth Inc.
- Infor Inc
Methodology
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