IMARC Group, a leading market research company, has recently releases report titled “Healthcare IT Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global healthcare IT market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Healthcare IT Market?
The global healthcare IT market size reached US$ 292.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 585.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
What is Healthcare IT?
Healthcare information technology (IT) refers to the use of computer systems, software, and networks to manage and store healthcare data, improve patient care, and enhance operational efficiency in the healthcare sector. This field encompasses a wide range of applications, including Electronic Health Records (EHRs), telemedicine, clinical decision support systems, and medical imaging. Healthcare IT aims to streamline the workflow of healthcare providers, reduce human errors, and facilitate better coordination among different entities in the healthcare ecosystem.
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What are the Growth Prospects and Trends in the Healthcare IT Industry?
The rising healthcare costs represents one of the key factors driving the growth of the market across the globe. This, coupled with the growing need for systems that improve efficiency and reduce operational costs is acting as a major growth-inducing factor. Healthcare IT solutions like Electronic Health Records (EHRs) and practice management software help achieve these goals. Many governments are actively promoting the adoption of healthcare IT through incentives and regulations. For instance, policies encouraging the meaningful use of EHRs are boosting technological adoption in healthcare facilities. With the focus shifting toward patient-centered care, healthcare IT solutions, such as telemedicine and patient portals are gaining importance. These technologies enable better communication and accessibility between patients and healthcare providers. The need for secure data management systems to comply with regulations like the Health Insurance Portability and Accountability Act (HIPAA) in the U.S. is a strong driver for advanced healthcare IT solutions. The increase in aging populations globally necessitates more streamlined healthcare services. IT solutions assist in managing the complex healthcare needs of this demographic more efficiently. Innovations like artificial intelligence, machine learning, and big data analytics are increasingly being integrated into healthcare systems, thus offering more accurate diagnostics and personalized treatment plans.
Who are the Key Players Operating in the Healthcare IT Market?
The report has also analyzed the competitive landscape of the market with some of the key players.
- General Electric Company
- Koninklijke Philips N.V.
- Siemens Healthineers AG
- Cerner Corporation
- Allscripts Healthcare Solutions, Inc.
- Wipro Limited
- Oracle Corporation
- International Business Machines (IBM) Corporation
- SAS Institute Inc.
- Dell Technologies Inc.
- McKesson Corporation
- Epic Systems Corporation
- Athenahealth, Inc.
- abd Infor, Inc.
What is Included in Market Segmentation?
The report has categorized the market based on product and services, component, delivery mode and end-user.
Breakup by Product and Services:
- Healthcare Provider SolutionsClinical Solutions
Nonclinical Healthcare IT Solutions
- Healthcare Payer SolutionsPharmacy Audit and Analysis Systems
Claims Management Solutions
Analytics and Fraud Management Solutions
Member Eligibility Management Solutions
Provider Network Management Solutions
Billing and Accounts (Payment) Management Solutions
Customer Relationship Management Solutions
Population Health Management Solutions
Other Payer Solutions
- Healthcare IT Outsourcing ServicesProvider HCIT Outsourcing Services Market
Payer IT Outsourcing Services
Operational IT Outsourcing Services
Breakup by Component:
- Software
- Hardware
- Services
Breakup by Delivery Mode:
- On-Premises
- Cloud-Based
Breakup by End-User:
- Healthcare Providers
- Hospitals
- Ambulatory Care Centers
- Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
- Diagnostic and Imaging Centers
- Pharmacies
- Healthcare PayersPrivate Payers
Public Payers
- Others
Regional Analysis:
- Europe
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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