Global Healthcare IT Market Insights, Size and Growth Forecast To 2027

Published: Jan 2020	Report ID: HLCA2001	Pages: 1 - 107	Formats^*:
Category : Healthcare

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.

Global Healthcare IT Market: Regional Insight

By geography, the global healthcare IT market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific market projected to lead the market owing to the increasing number of patient population, and rising investments in the healthcare industry by governments, and increasing awareness regarding the application of IT in the healthcare industry.

The report presents a detailed assessment of the various factors influencing the market's trajectory into 2020 and 2027. It covers the crucial information about the leading companies operating in the global Healthcare IT market. Besides highlighting the product offerings, the report also calculates revenue generated over the period and their position in the market.

REPORT HIGHLIGHTS

Overview of key market forces propelling and restraining market growth
Provide demand, current & past status & also the forecasting up to 2027.
Provide complete overview including component, solution, delivery mode, and end-user & forecast region.
Provide focused analysis of key manufacturer with their production volume, market share & also help to identify market competition landscape with SWOT analysis.
Historical, current and projected market size in terms of value.
Analyse the global & regional potential market, advantages, risk & opportunity.
Identify significant trends and factors driving or inhibiting market growth.
In-depth coverage of the complete market in terms of supplier, buyer, price, trend, growth & forecasting

THE REPORT COVERS ANALYSIS OF HEALTHCARE IT MARKET, BY COMPONENTS

Software
Hardware
Services

THE REPORT COVERS ANALYSIS OF HEALTHCARE IT MARKET, BY SOLUTION

Radiology information systems
Electronic health record
Picture archiving and communication system
MHealth
Healthcare analytics
Telehealth
Supply chain management
CRM
Others (computerized physician order entry, Vendor neutral archives, Fraud management, Revenue cycle management etc.)

THE REPORT COVERS ANALYSIS OF HEALTHCARE IT, BY DELIVERY MODE

On-premise
Cloud-based

THE REPORT COVERS ANALYSIS OF HEALTHCARE IT, BY END-USER

Healthcare providers

Hospitals
Pharmacies
Diagnostic and imaging centres
Ambulatory clinical units
Others

Healthcare payer

Private
Public

THE REPORT COVERS EXHAUSTIVE ANALYSIS ON

Market Segments
Market Dynamics
Brands in Market
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved
Forecasting
Technology

THE REPORT INCLUDES REGIONAL ANALYSIS ON

North America (Canada, US, Mexico, & Rest of North America Available)
Asia-Pacific (China, India, South Korea, Japan & Rest of Asia Pacific Available)
Europe (Germany, Spain, France, United Kingdom & Rest of Europe Available)
South America (Brazil, Argentina & Rest of South America Available)
Middle East & Africa (GCC Countries, South Africa, & Rest of MEA available)

KEY PLAYERS OF HEALTHCARE IT MARKET

Optum
Cerner
Cognizant
Change Healthcare
Philips Healthcare
Epic Systems
Dell Technologies
Allscripts
GE Healthcare
IBM
Athenahealth
Oracle Corporation
COnduent (US)
Infor
Tata Consultancy Services
Wipro Limited (India)
Other Prominent Players

Note: The segmentation & companies provided are subject to change/modification as per the availability of data during the final study.

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Market Dynamics

4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges

4.3. COVID-19 Impact of the Healthcare IT Market
4.4. Market Trends

5. Global Healthcare IT Market, By Component, 2021-2027 (USD Million)

5.1. Software
5.2. Hardware
5.3. Services

6. Global Healthcare IT Market, By Solutions, 2021-2027 (USD Million)

6.1. Radiology Information Systems
6.2. Electronic Health Records
6.3. Picture Archiving and Communication System
6.4. mHealth
6.5. Healthcare Analytics
6.6. Telehealth
6.7. Supply Chain Management
6.8. CRM
6.9. Others

6.9.1. Computerized physician order entry
6.9.2. Vendor-neutral Archives
6.9.3. Fraud Management
6.9.4. Revenue cycle management

7. Global Healthcare IT Market, By Delivery Mode, 2021-2027 (USD Million)

7.1. On-premise
7.2. Cloud based

8. Global Healthcare IT Market, By Technology, 2021-2027 (USD Million)

8.1. Digital twin
8.2. 5G
8.3. Virtual & Augmented Reality
8.4. Blockchain
8.5. Others

8.5.1. Artificial Intelligence
8.5.2. Machine Learning

9. Global Healthcare IT Market, By End User, 2021-2027 (USD Million)

9.1. Healthcare providers

9.1.1. Hospitals
9.1.2. Pharmacies
9.1.3. Diagnostic & Imaging Centers
9.1.4. Ambulatory Clinical Units
9.1.5. Others

9.2. Healthcare Payers

9.2.1. Private
9.2.2. Public

10. Global Healthcare IT Market, By Geography, 2021-2027 (USD Million)

10.1. North America

10.1.1. US
10.1.2. Canada

10.2. Europe

10.2.1. Germany
10.2.2. UK
10.2.3. France
10.2.4. Italy
10.2.5. Spain
10.2.6. Rest of Europe

10.3. Asia-Pacific

10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Rest of Asia-Pacific

10.4. Rest of the World

10.4.1. Latin America
10.4.2. Middle East & Africa

11. Competitive Landscape

11.1. Introduction
11.2. Market Share Analysis, By Key Players (2019)
11.3. Competitive Scenario

11.3.1. Product Launches
11.3.2. Partnerships, Collaborations and Agreements
11.3.3. Acquisitions
11.3.4. Expansions
11.3.5. Other Developments

12. Company Profiles

12.1. 3M
12.2. Allscripts
12.3. Athenahealth
12.4. Carestream Health
12.5. Cerner
12.6. Change Healthcare
12.7. Cognizant
12.8. Conduent
12.9. Conifer Health
12.10. Dell Technologies
12.11. eClinicalWorks
12.12. Epic Systems
12.13. GE Healthcare
12.14. IBM
12.15. Infor
12.16. Inovalon
12.17. InterSystems
12.18. Nuance
12.19. Optum
12.20. Oracle Corporation
12.21. Orion Health
12.22. Philips Healthcare
12.23. Practice Fusion
12.24. SAS Institute
12.25. Tata Consultancy Services
12.26. Wipro Limited

13. Appendix

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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