Global Healthcare IT Market was valued at USD 185.2 billion in 2019 which is expected to reach USD 395.21 billion by 2027 at a CAGR 15.5%.
Healthcare IT solutions are used to manage, control, and automate the various tasks and processes in healthcare industry. Increase in adoption rate of Computerized Physician Order Entry, as well as increase in prevalence of chronic diseases and rise in technological advancements will grow the global healthcare IT market growth over a forecast period.
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Increase in development and investment in healthcare sector is the key driving factor which is expected to boost the global healthcare IT market growth. Furthermore, increase in adoption of artificial intelligence in healthcare industry which is expected to propel the global healthcare IT market growth. Artificial intelligence is helpful to provide practitioner assistance and decision support for various tasks such as patient and symptom analysis. Also, artificial intelligence is used to accelerate new drug development, determine disease outbreak, and improve overall healthcare outcome which is expected to fuel the growth of global healthcare IT market during this forecast period. Moreover, increase in usage of big data and cloud computing services will have the positive impact on market growth. Additionally, high returns on investment in healthcare sector are expected to drive global healthcare IT market growth.
However, security concerns and interoperability issues are the restraining factors which are expected to hamper the growth of global healthcare IT market. Also, lack of skilled professionals and high maintenance cost will affect the global healthcare IT market growth.
The assessment of the market depends heavily on a close study of macroeconomic and microeconomic factors that have the potential to set the global Healthcare IT Market on a growth track or steer it away towards loss. At the same time, close inspection of the demographic changes has been done to understand the real-time market scenario. This extensive study helps in getting close to several segments of the market, which can be explored by market players for better gains in the coming years. The study also brings out growth pockets with potentials to take the market forward and optimally using resources. This also eases the path of garnering accolades from different quarters.
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Market Key Players
Various key players are discussed in this report such as General Electric, Athenahealth, Allscripts, Dell Technologies, EPIC Systems Corporation, Philips, Change Healthcare, Cognizant, Cerner Corporation, and Optum.
Market Taxonomy
By Product & Services
• RIS
• HER
• PACS
• VNA
• CPOE
• Telehealth
• Healthcare Analytics
• Population Health Management
• Fraud Management
• Claims Management
By Delivery Mode
• On-Premise
• Cloud
By Component
• Hardware
• Software
• Services
By End User
• Provide
• Payer
By Region
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa
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