The global healthcare IT market size was estimated to be USD 206.31 billion in 2023 and is expected to reach at USD 1,316.35 billion by 2034 with a CAGR of 18.35% during the forecast period 2024-2034. Growing adoption of smartphones, increasing need for remote patient monitoring to enhance treatment received outside of hospitals, rising investments for supporting eHealth, surge in technologically advanced healthcare IT infrastructure, growing government initiatives to promote technologically advanced systems, increasing need for centralized medical records to improve the delivery of healthcare, surge in technological advancements, and rising collaborations within market players for the development of advanced healthcare solutions are the primary factors of the market’s expansion.
Healthcare IT, or healthcare information technology, is a specialized field within information technology (IT) that involves the development, design, creation, and maintenance of information systems in hospitals, clinics, and other healthcare organizations. Healthcare IT plays a pivotal role in enhancing and revolutionizing healthcare by offering a range of benefits and opportunities. These include improvements in clinical outcomes, the reduction of human errors, increased efficiency in healthcare practices, the facilitation of care coordination, and the ability to track and analyze data over time. Therefore, rising collaborations within market players for the development of advanced healthcare solutions is predicted to boost the market growth during the forecast period. For instance, in March 2022, MEDITECH and Google Health have revealed their plans to collaborate on an integrated solution within the MEDITECH Expanse platform. This solution will leverage Google Health's search and summarization capabilities within the Expanse EHR, facilitating healthcare providers in delivering optimal care by granting them swift and convenient access to information from various sources.
By product, healthcare provider solution was the highest revenue-grossing segment in the global healthcare IT market in 2023 owing to the surge in demand for streamlined electronic healthcare systems, growing need for technology-integrated tools, increasing demand for cost-effective care, surge in geriatric population, growing health consciousness, and rising technological advancements in healthcare IT. For instance, in November 2022, Independa, a platform that utilizes smart TVs for remote engagement, care, and education, conducted a survey to investigate the behavior and attitudes of smart TV users regarding telehealth. The results, released in March 2023, indicated that more than 90% of Americans had availed themselves of telehealth services in the previous year, with a satisfaction rate of 90%. These services included medical check-ups, remote dental consultations, and eye care appointments. The survey also underscored the growing importance of smartphone usage, as 71% of users accessed telehealth services through their smartphones. Additionally, non-clinical solutions is predicted to grow at fastest CAGR during the forecast period owing the rising awareness regarding the advantages of e-prescribing, increasing necessity to optimize & simplify healthcare operations, growing adoption of these systems to monitor billing details & radiology imaging orders, and surge in prevalence of chronic diseases.
By end-user, healthcare providers was the highest revenue-grossing segment in the global healthcare IT market in 2023 owing to several factors, including strict government regulations & the imperative to enhance patient care while boosting operational efficiency, expansion of the patient population, the proliferation of hospitals & ambulatory care centers, substantial purchasing power of hospitals, and rising introduction of advanced solutions. For instance, in May 2023, Athenahealth recently made a noteworthy announcement concerning its integrated cloud-based EHR, medical billing, and patient engagement solution called 'athenaOne'. LCH Health and Community Services selected this solution, along with 'athenaOne Dental', as part of their efforts to improve the experiences of both healthcare providers and patients while advancing their growth strategy. Additionally, healthcare payers is predicted to grow at fastest CAGR during the forecast period owing to the industry players are consistently enhancing the services they offer in response to consumer demands and increasing collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising adoption of healthcare IT solutions & services as providers aim to improve patient care & lower expenses, growing demand for Electronic Health Records (EHR), and increasing collaborations between market players. For instance, in May 2022, BeeKeeperAI has revealed an extended partnership with Microsoft, enabling algorithm developers and healthcare data stewards to access BeeKeeperAI within the Microsoft Azure Confidential Computing (ACC) environment, accessible through the Azure Marketplace. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in government spending on healthcare, increasing demand for efficient management of clinical, financial, & administrative aspects of hospitals, rising focus on the development of fully integrated health record systems, and growing initiatives by major market players. For instance, in June 2023, Medix Global has introduced the Digital Health Innovation Challenge 2023, targeting start-ups and innovators developing state-of-the-art digital health solutions. This challenge specifically centers on technology start-ups addressing healthcare concerns related to women's health and mental health. These start-ups primarily aim to bridge gaps, enhance healthcare accessibility, elevate its quality, reduce unjust disparities in healthcare services, and foster the long-term sustainability of the healthcare system in India.
Provider Billing Management
Medical Document Management Services
Pharmacy Information Management Services
Laboratory Information Management Services
Others
Electronic Data Interchange
Computer Assisted Coding Systems
Admission Discharge Transfer/Registration
Patient Billing and Claims Management Solutions
Barcode Medication Administration
Electronic Medication Administration Records
Medication Inventory Management Systems
Patient Tracking and Management
Temperature and Humidity Monitoring
Financial Analytics
Operational and Administrative Analytics
Procurement Management
Healthcare IT, or healthcare information technology, is a specialized field within information technology (IT) that involves the development, design, creation, and maintenance of information systems in hospitals, clinics, and other healthcare organizations. Healthcare IT plays a pivotal role in enhancing and revolutionizing healthcare by offering a range of benefits and opportunities. These include improvements in clinical outcomes, the reduction of human errors, increased efficiency in healthcare practices, the facilitation of care coordination, and the ability to track and analyze data over time. Therefore, rising collaborations within market players for the development of advanced healthcare solutions is predicted to boost the market growth during the forecast period. For instance, in March 2022, MEDITECH and Google Health have revealed their plans to collaborate on an integrated solution within the MEDITECH Expanse platform. This solution will leverage Google Health's search and summarization capabilities within the Expanse EHR, facilitating healthcare providers in delivering optimal care by granting them swift and convenient access to information from various sources.
By product, healthcare provider solution was the highest revenue-grossing segment in the global healthcare IT market in 2023 owing to the surge in demand for streamlined electronic healthcare systems, growing need for technology-integrated tools, increasing demand for cost-effective care, surge in geriatric population, growing health consciousness, and rising technological advancements in healthcare IT. For instance, in November 2022, Independa, a platform that utilizes smart TVs for remote engagement, care, and education, conducted a survey to investigate the behavior and attitudes of smart TV users regarding telehealth. The results, released in March 2023, indicated that more than 90% of Americans had availed themselves of telehealth services in the previous year, with a satisfaction rate of 90%. These services included medical check-ups, remote dental consultations, and eye care appointments. The survey also underscored the growing importance of smartphone usage, as 71% of users accessed telehealth services through their smartphones. Additionally, non-clinical solutions is predicted to grow at fastest CAGR during the forecast period owing the rising awareness regarding the advantages of e-prescribing, increasing necessity to optimize & simplify healthcare operations, growing adoption of these systems to monitor billing details & radiology imaging orders, and surge in prevalence of chronic diseases.
By end-user, healthcare providers was the highest revenue-grossing segment in the global healthcare IT market in 2023 owing to several factors, including strict government regulations & the imperative to enhance patient care while boosting operational efficiency, expansion of the patient population, the proliferation of hospitals & ambulatory care centers, substantial purchasing power of hospitals, and rising introduction of advanced solutions. For instance, in May 2023, Athenahealth recently made a noteworthy announcement concerning its integrated cloud-based EHR, medical billing, and patient engagement solution called 'athenaOne'. LCH Health and Community Services selected this solution, along with 'athenaOne Dental', as part of their efforts to improve the experiences of both healthcare providers and patients while advancing their growth strategy. Additionally, healthcare payers is predicted to grow at fastest CAGR during the forecast period owing to the industry players are consistently enhancing the services they offer in response to consumer demands and increasing collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising adoption of healthcare IT solutions & services as providers aim to improve patient care & lower expenses, growing demand for Electronic Health Records (EHR), and increasing collaborations between market players. For instance, in May 2022, BeeKeeperAI has revealed an extended partnership with Microsoft, enabling algorithm developers and healthcare data stewards to access BeeKeeperAI within the Microsoft Azure Confidential Computing (ACC) environment, accessible through the Azure Marketplace. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in government spending on healthcare, increasing demand for efficient management of clinical, financial, & administrative aspects of hospitals, rising focus on the development of fully integrated health record systems, and growing initiatives by major market players. For instance, in June 2023, Medix Global has introduced the Digital Health Innovation Challenge 2023, targeting start-ups and innovators developing state-of-the-art digital health solutions. This challenge specifically centers on technology start-ups addressing healthcare concerns related to women's health and mental health. These start-ups primarily aim to bridge gaps, enhance healthcare accessibility, elevate its quality, reduce unjust disparities in healthcare services, and foster the long-term sustainability of the healthcare system in India.
Segmentation: Healthcare IT Market Report 2023 - 2034
Healthcare IT Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Healthcare Payer Solutions
- Pharmacy Analysis and Audit
- Claims Management
- Fraud Management
- Computer-assisted Coding Systems
- Provider Network Management
- Member Eligibility Management
- Customer Relationship Management
- Medical Document Management
- Payment Management
Provider Billing Management
- Other
- Healthcare Provider Solutions
- Telehealth Solutions
- Clinical Solutions
- Digital Pathology Solutions
- Practice Management Systems
- Vendor Neutral Archive (VNA)
- Radiology Information Systems
- Laboratory Information Systems
- Healthcare IT Integration Systems
- Mobile Health (mHealth) Solutions
- Electronic Health/Medical Records
- Radiation Dose Management Solution
- Computerized Physician Order Entry
- Clinical Decision Support Systems
- Specialty Management Information Systems
- Medical Image Processing & Analysis Solution
- HCIT Outsourcing Services
- Provider HCIT Outsourcing Services
Medical Document Management Services
Pharmacy Information Management Services
Laboratory Information Management Services
Others
- Non-clinical Solutions
- Population Health Management
- Pharmacy Information Systems
- Financial Management Systems
- Workforce Management Systems
- Healthcare Information Exchanges
- Medical Document Management Systems
- Customer Relationship Management
- Revenue Cycle Management
Electronic Data Interchange
Computer Assisted Coding Systems
Admission Discharge Transfer/Registration
Patient Billing and Claims Management Solutions
- Medication Management Systems
Barcode Medication Administration
Electronic Medication Administration Records
Medication Inventory Management Systems
- Healthcare Asset Management
Patient Tracking and Management
Temperature and Humidity Monitoring
- Healthcare Analytics
Financial Analytics
Operational and Administrative Analytics
- Supply Chain Management
Procurement Management
- Payer HCIT Outsourcing Services
- Billing System
- Fraud Detection
- Claim Management
- Customer Relationship Management Services
- Others
- Operational HCIT Outsourcing Services
- Supply Chain Management Services
- Business Process Management Services
- Others
- IT Infrastructure Management Services
Healthcare IT Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Healthcare Providers
- Ambulatory Care Centers
- Home Healthcare Agencies & Assisted Living Facilities
- Hospitals
- Pharmacies
- Diagnostic & Imaging Centers
- Healthcare Payers
- Public Payers
- Private Payers
Healthcare IT Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Healthcare IT Market: Product Estimates & Trend Analysis
8. Healthcare IT Market: End-user Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Healthcare IT Market
11. Europe Global Healthcare IT Market
12. Asia Pacific Global Healthcare IT Market
13. Latin America Global Healthcare IT Market
14. MEA Global Healthcare IT Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Veradigm Inc.
- Philips Healthcare
- GE Healthcare
- eMDs Inc.
- Novarad
- Carestream Health
- Agfa- Gevaert Group
- Athenahealth Inc.
- eClinicalWorks
- McKesson Corporation
- Hewlett Packard Enterprise Development LP
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 206.31 Billion |
| Forecasted Market Value ( USD | $ 1316.35 Billion |
| Compound Annual Growth Rate | 18.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
