Healthcare IT Market Introduction:

Healthcare IT Market is estimated to value over USD 507 billion by 2027 end and register a CAGR of over 14.7% during the forecast period 2020 to 2027.

The advent of social media and its significant influence on the healthcare IT industry and the rising insistence for paperless technologies are some of the key factors steering the current healthcare IT market growth. Furthermore, increased government funding, a good return on investments and different initiatives taken by the associations for improving healthcare infrastructure and services are the other factors responsible for the market growth.

The services segment includes both professional services and maintenance and support. The services segment accounted for the largest healthcare IT market share in 2018 and is predicted to proliferate substantially over the forecast period. Since the usage of IT in the healthcare sector, the data volume is continuously increasing; data maintenance and storage costs have increased in recent years. Moreover, healthcare institutions have a dearth of skilled IT professionals who can handle such a massive amount of data. Therefore, the increasing cost coupled with a dearth of skilled professionals has resulted in many institutions opting for the support and maintenance services offered by healthcare IT firms.

In addition to the supporting and maintenance services, analytics, which accounts for a substantial healthcare IT market share, is also being offered by key players, for instance, Philips, GE Healthcare, IBM, etc. With the introduction and emergence of technology based on cloud services in the healthcare sector, the services segment share has gone up substantially. 

Key market players included in the healthcare IT industry are Optum, Cerner Corp., Cognizant, Change Healthcare, Philips, EPIC Systems Corp., del Technologies, Allscripts, Athenahealth, General Electric, Conduent, Conifer, Nuance, 3M, Oracle, IBM, Inovalon, Infor, Intersystems, Tata Consultancy Services.

Healthcare IT Market Segmentation:

By Product & Service

  • Healthcare Provider Solutions
  • Healthcare Payer Solutions
  • HCIT Outsourcing Services

By Component

  • Services
  • Software
  • Hardware

By End User

  • Healthcare Providers
  • Healthcare Payers

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

Objectives of the Study:

  • To provide with an exhaustive analysis on the healthcare IT market by product & service, by component, by end user and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
  • To forecast and evaluate micro-markets and the overall market 
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
  • To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers 

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What you get

  • Excel Dataset

  • Infographics

  • PDF Report

  • Market Overview

  • PowerPoint Presentation

What's included

  • Consumer Perception and Procurement

  • Competitive Analysis

  • What’s Next

  • Market Data Forecast

  • Risks and Opportunity Assessment

  • Market Trends and Dynamics