Healthcare IT Market 2018- 2023
Healthcare IT Market Research, Development Status and
Advanced Technology by 2023- Meticulous Research
Meticulous Research®, leading global market research company published a research
report titled Healthcare IT Market By Product (EMR, EHR, MHealth, PHM, LIS,
RIS, VNA, PACS, RCM, Analytics, EDI, SCM, HIE), Component (Software, Service),
Delivery (Web, Cloud) & End User (Hospital, Payor, Pharmacy, Ambulatory,
Homecare) – Global Forecast To 2023.
According to this latest publication from Meticulous Research®, the global healthcare
IT solutions market will grow at a CAGR of 13.7% from 2018 to 2023 to reach USD
223.16 billion by 2023. Factors such as rise in demand of paper-less technology, focus
on improving quality of care, growing need to manage regulatory compliance through
healthcare IT solutions, government support for healthcare IT solutions, rising need to
curtail escalating healthcare costs, growing need to improve quality of patient’s
demographic, financial and clinical information, integration of big data in healthcare,
and technological advancements are driving the global healthcare IT market.
Emerging economies such as Latin America, Asia Pacific, & Africa provides significant
opportunities for various stakeholders in this market. However, interoperability issues
and data security & privacy issues are challenging the growth of healthcare IT market
to some extent.
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Key Market Segments to Watch
The global healthcare IT market is mainly categorized by product (clinical & nonclinical solutions), component (services, software, and hardware), deployment mode
(web & cloud based and on-premise), end user (healthcare providers and healthcare
payers), and geography. Clinical solutions segment is further segmented into Electronic
Health Record (EHR), m-heath solutions, population health management solutions, care
management systems, telemedicine, laboratory information systems, computerized
physician order entry, Clinical Decision Support System (CDSS), patient registry
software, E-Prescribing systems, Radiology Information Systems (RIS), specialty
information systems, digital pathology system, PACS & VNA, and other solutions.
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Healthcare IT Market 2018- 2023
Non-clinical solutions segment is further segmented into revenue cycle management
solutions, healthcare analytics, supply chain management solutions, workforce
management systems, electronic data interchange, medication management solutions,
provider network management solutions, HIE & interoperability solutions, customer
relationship management solutions, fraud management solutions, and other solutions.
On the basis of product type, non-clinical healthcare IT solutions commanded the
largest share in the global healthcare IT market in 2017, mainly due to rising patient
volume, increasing burden on healthcare systems across globe, growing adoption of
health information exchanges (HIEs) and EHR systems, growing insured population
and rising number of frauds related with claims, and improved quality of care and
clinical outcomes.
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On the basis of deployment mode, web & cloud-based solutions accounted for the
largest share in the global healthcare IT market in 2017. This large adoption is mainly
attributed to the flexibility of working from remote areas, affordability, and automated
updating features of web-& cloud-based solutions.
Based on end user, healthcare providers segment commanded the largest share in the
global healthcare IT market in 2017, mainly due to the rising patient volume, growing
healthcare spending by many countries across globe, growing geriatric population, and
increasing adoption of healthcare IT solutions by various healthcare providers.
Hospitals segment accounted for the largest share in the global healthcare providers
market in 2017, primarily due to growing healthcare infrastructure, rising number of
tertiary/specialty care hospitals, rising chronic disease population, increasing demand
for quality healthcare, affordable care act, growing demand to manage large patient
data, and increasing adoption of HCIT solutions.
North America accounted for the largest share of the global HCIT market, mainly
attributed to the growing adoption of various healthcare IT solutions by healthcare
providers in order to meet the heightened regulatory requirements for patient care and
safety, increasing need to curtail soaring healthcare costs, presence of leading HCIT
vendors in this region, and growing need to improve the quality of healthcare while
maintaining the operational efficiency of healthcare organizations. The Asia-Pacific
market is estimated to register the fastest growth during the forecast period, owing to
the growing healthcare infrastructural activities in the emerging countries such as
China, India, Thailand, Indonesia, and Vietnam.
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Healthcare IT Market 2018- 2023
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Key players in the global market:
The key players in the global healthcare IT market are McKesson Corporation (U.S.),
Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Optum Health (U.S.), GE
Healthcare (U.S.), Philips Healthcare (Netherlands), athenahealth, Inc. (U.S.),
Allscripts Healthcare Solutions, Inc. (U.S.), Oracle Corporation (U.S.), Cognizant
Technology Solutions Corporation (U.S.), Dell Technologies (U.S.), Optum, Inc.
(U.S.), and Infor, Inc. (U.S.).
Key questions answered in the report:
• Which are the high growth market segments in terms of product type,
component, deployment mode, end user, and regions/countries?
• What is the historical market for healthcare IT solutions across the globe?
• What are the market forecasts and estimates from the period 2018-2023?
• What are the major drivers, restraints, opportunities, and challenges in the
global healthcare IT market?
• Who are the major players in the global healthcare IT market and what share
of the market do they hold?
• Who are the major players in various countries and what share of the market
do they hold?
• What are the competitive landscapes and who are the market leaders by subregion in the global healthcare IT market?
• What are the recent developments in the global healthcare IT market?
• What are the different strategies adopted by the major players in the global
healthcare IT solutions market?
• What are the geographical trends and high growth regions/ countries?
• Who are the local emerging players in the global healthcare IT solutions
market and how do they compete with the global players?
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Healthcare IT Market 2018- 2023
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