Global Healthcare IT Market

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Global Healthcare IT Market by Component (Software, Hardware, and Services), By Solution (Radiology information systems, Electronic health record, Picture archiving and communication system, mHealth, Healthcare analytics, Telehealth, Supply chain management, CRM and others(computerized physician order entry, Vendor-neutral archives, Fraud management, Revenue cycle management, etc.)), By Delivery Mode (On-premise and Cloud-based), By Technology (Digital Twin, 5G, Virtual & Augmented Reality, Blockchain, and Others (Artificial Intelligence, Machine Learning etc.)), By End-User (Healthcare providers (Hospitals, Pharmacies, Diagnostic and imaging centers, Ambulatory clinical units, and others) and Healthcare payers (Private and Public) and By Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa)
Published: January-2020 Report Code: HLCA2001 Available Format: Pages: 1-107
Category : Health Care

Report description
Healthcare IT is the application of processing health information, including those involved in the storage, sharing, access, and use of health care information, data, and knowledge for communication and decision making. Healthcare IT is the collection of patient information and management information between hospitals and hospital departments by computer science, modern network communication technology, and database technology. It helps in storing, processing, retrieving, and exchanging data and meet the functional needs of all authorized users. Healthcare IT includes hospital management information, clinical management information, and public health information. In a broad sense, hospital information should also include information about medical insurance and information about drug circulation.
With the support of the cloud technology, the new type of medical and health service system can operate normally, and the new system immediately generates demand for artificial intelligence, enabling the medical artificial intelligence technology that has just conceived to come into play. Under the latest technology based on the hospital cloud support and artificial intelligence promotion, such as VR / AR, robots, CDSS, etc., improve people's health under the premise of certain medical expenses, and can be enlarged.

Global Healthcare IT Market: Insights
The Healthcare IT market was valued at USD 190.3 billion in 2019 and expected to reach USD 517.52 billion, registering a CAGR of 7.2% during the forecast period (2020-2027). The growing use of big analytics in healthcare and the rising need to curtail the escalating healthcare cost is likely to drive the global healthcare IT market in the projected period. Additionally, the healthcare IT market preliminarily driven by the surge in demand for artificial intelligence in the healthcare industry in the upcoming periods. Moreover, the healthcare information system supports artificial intelligence technology, virtual reality, robotics, and other applications in various fields such as telemedicine, remote surgery, integrated medical care, drug research and development, and health management. These will propel the global healthcare IT market.
Further, large hospitals are starting to build clinical data centers and are beginning to apply systems such as mobile nursing, mobile doctors, and mobile medical management. The majority of hospitals developing specific implementation schedules for various information construction projects such as applications IoT systems to patient management, drug management, and asset management are also rapidly increasing in hospitals. Furthermore, growing demand for patient safety & patient care, coupled with the government initiatives to healthcare services around the world, will robust the global healthcare IT market in the future timeframe.
Additionally, the upsurge in demand for healthcare information technologies such as AI and IoT for determining disease outbreaks and improving the drug development process will fuel the global healthcare IT market. The growing need to attain improved operational workflow of the healthcare system and enhanced patient care are vital factors expected to boost the global healthcare IT market.
The SPER market Healthcare IT research report includes all integrated approach to the growth of the market along with an accurate and elaborate analysis of the complete competitive situation of this market on a global level with the key market trends & newest technologies, being a significant part in the growth during the estimated period. Besides the current analytical & statistical account, the report cloaks the trends market drivers, challenges, potential opportunities, which affect the market. This market report discusses the present situation to predicted trends & aspects of the growth of the Healthcare IT market. Furthermore, it gives a dynamic overview & insights related to the market at both global as well as on a regional scale.


Global Healthcare IT Market: Component Insight
Based on components, the global healthcare IT market classified into Software, Hardware, and Services. The software segment is likely to dominate the market by 2027 due to the growing application of the software-based healthcare system for improving revenue cycle management, supply chain management, enterprise performance management, enterprise resource planning, and business process management. Services segment will drive by its support and maintenance and professional services.

Global Healthcare IT Market: Solution Insight
Based on the solution, the global healthcare IT market categorized into Radiology information systems, Electronic health record, Picture archiving and communication system, mHealth, Healthcare analytics, Telehealth, Supply chain management, CRM and others (computerized physician order entry, Vendor-neutral archives, Fraud management, Revenue cycle management, etc.). The Telehealth segment projected to lead the market due to the rising awareness among patients about the advantages of telehealth services, which help in avoiding long waiting times for consultation.

Global Healthcare IT Market: Delivery Mode Insight
Based on the delivery mode, the global healthcare IT market bifurcated into On-premise and Cloud-based. The cloud-based segment anticipated to generate maximum revenue by 2027, on account of its properties such as agility and accessibility of cloud-based tools.

Global Healthcare IT Market: End -User Insight
Based on the End-User, the global healthcare IT market segregated into Healthcare providers (Hospitals, Pharmacies, Diagnostic and imaging centers, Ambulatory clinical units, and others) and Healthcare payers (Private and Public). The Healthcare providers expected to lead the market, due to the growth in the number of chronic diseases patients across the globe leads to demand for patient care in healthcare facilities and developing healthcare infrastructure.
The healthcare payer segment will boom by providing financial support from various governments to improve the public healthcare services center.