Market Analysis :
Global Healthcare IT Market was valued at USD 90,373.80 million by 2017 and is projected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Defination :
The major factors contributing to the growth of the market includes factors such as need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases. On the other hand, issues in information exchange, high installation & maintenance cost and lack of skilled expertise are hampering the market growth.
Top Market key Players :
Epic Systems Corporation is going to dominate the global healthcare IT market followed by
McKesson Corporation, Cerner Corporation, Allscripts, Carestream Health and Siemens AG.
- The HCIT outsourcing services segment is dominating the global healthcare IT market.
- Medical image processing and analysis systems segment is expected to grow with the highest CAGR in the forecast period 2018 to 2025.
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The Research Segmented on the basis of –
- The global healthcare IT market is segmented on the basis of products & services into HCIT outsourcing services, healthcare provider solutions and healthcare payer solutions. In 2018, HCIT outsourcing services are expected to dominate the healthcare IT market with 45.4% market share and growing at the highest CAGR in the forecast period 2018 to 2025. The healthcare provider solutions are further segmented on the basis of clinical solutions and non-clinical solutions.
- The clinical solutions are further sub segmented into electronic health records medical image processing and analysis systems, picture archiving and communication systems, radiology information systems, laboratory information systems, vendor neutral archive, computerized physician order entry, clinical decision support systems, specialty management information systems, healthcare IT integration systems, practice management systems, radiation dose management and others.
- The non-clinical solutions are also sub segmented into healthcare information exchange, revenue cycle management solutions, financial management systems, population health management solutions, medical document management solutions, pharmacy information systems, workforce management systems and healthcare analytics.
- The global healthcare IT market is segmented based on end users into providers and payers. In 2018, providers segment is estimated to cross USD 234,006.24 million by 2025, rising at the highest CAGR in the assessment period.
- Providers are further sub segmented into hospitals, home healthcare, diagnostic centres, ambulatory surgical centres and pharmacies. Payers are further sub segmented into public and private.
- The global healthcare IT market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market
- Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East & Africa.
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Key Drivers: Global Healthcare IT Market
Some of the major factors driving the market for global healthcare IT market are need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases.
Issues in information exchange, high installation & maintenance cost and lack of skilled expertise for healthcare IT hampering the growth of the market.
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