Global Healthcare Information Technology (IT) Market: Size & Forecasts with Impact Analysis of COVID-19 (2020-2024)

Global Healthcare Information Technology (IT) Market: Size & Forecasts with Impact Analysis of COVID-19 (2020-2024)

Scope of the Report

The report titled “Global Healthcare Information Technology (IT) Market: Size & Forecasts with Impact Analysis of COVID-19 (2020-2024)”, provides an in depth analysis of the global healthcare information technology (IT) market by value, by solution, by component, by end user, by region, etc. The report provides a regional analysis of the healthcare information technology (IT) market, including the following regions: North America (the US & Rest of North America), Europe, Asia Pacific, and ROW. The report also provides a detailed analysis of the COVID-19 impact on the healthcare IT market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global healthcare IT market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global healthcare IT market is fragmented with many major market players operating worldwide. The key players of the healthcare IT market are Cerner Corporation, McKesson Corporation, Allscripts Healthcare Solutions, Inc., and General Electric Company (GE Healthcare) are also profiled with their financial information and respective business strategies.

Country Coverage

North America
Europe
Asia Pacific
ROW

Company Coverage

Cerner Corporation
McKesson Corporation
Allscripts Healthcare Solutions, Inc.
General Electric Company (GE Healthcare)

Executive Summary

Healthcare information technology, or healthcare IT is the area of healthcare that involves the use of technological tools by healthcare professionals, to store, share and analyze health information. The healthcare IT is sometimes being used by the patients to communicate with the doctors to share information about their health, and take actions that would improve the patients’ quality of life.

The benefits of healthcare information technology are many, including the reduction of paperwork, time saving, increase patient safety, enable high quality and error-free care, get accurate information, reduce unnecessary tests, provide financial benefits, and faster lab results.

Healthcare information technology have a long history with continuous development of new and innovative healthcare technologies. The healthcare information technology (IT) market can be segmented on the basis of solution (Electronic Health Record (EHR), Radiology Information Systems, mHealth, Electronic Prescribing System, Telemedicine, Healthcare Analytics, Supply Chain Management, Revenue Cycle Management, and Others); delivery mode (On-premise, and Cloud-based (SaaS, PaaS, and IaaS); component (Services, Software, and Hardware); and end user (Healthcare Providers, and Healthcare Payers).

The global healthcare information technology (IT) market has increased significantly during the years 2017-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The healthcare information technology (IT) market is expected to increase due to rapid urbanization, proliferation of mobile devices, rising volume of healthcare data, growing adoption of electronic health record (EHR), favorable government initiatives for promoting healthcare technology, etc. Yet the market faces some challenges such as high cost involved, security concerns, etc.


1. Executive Summary
2. Introduction
2.1 Healthcare Information Technology (IT): An Overview
2.1.1 Benefits of Healthcare Information Technology
Table 1: Benefits of Healthcare Information technology
2.1.2 History of Healthcare Information Technology
Table 2: History of Healthcare Information Technology
2.2 Healthcare Information Technology (IT) Segmentation: An Overview
2.2.1 Healthcare Information Technology Segmentation by Solution
Table 3: Healthcare Information Technology Segmentation by Solution
2.2.2 Healthcare Information Technology Segmentation
Table 4: Healthcare Information Technology Segmentation
2.2.3 Healthcare Information Technology Segmentation by End User
Table 5: Healthcare Information Technology Segmentation by End User
3. Global Market Analysis
3.1 Global Healthcare Information Technology (IT) Market: An Analysis
3.1.1 Global Healthcare IT Market by Value
Table 6: Global Healthcare IT Market by Value; 2017-2019 (US$ Billion)
Table 7: Global Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.1.2 Global Healthcare IT Market by Solution (Revenue Cycle Management, Telemedicine, mHealth, Electronic Health Record (EHR), Healthcare Analytics and Others)
Table 8: Global Healthcare IT Market by Solution; 2019 (Percentage, %)
3.1.3 Global Healthcare IT Market by Component (Services, Sofwtare and Hardware)
Table 9: Global Healthcare IT Market by Component; 2019 (Percentage, %)
3.1.4 Global Healthcare IT Market by End User (Healthcare Provider and Healthcare Payer)
Table 10: Global Healthcare IT Market by End User; 2019 (Percentage, %)
3.1.5 Global Healthcare IT Market by Region (North America, Europe, Asia Pacific and ROW)
Table 11: Global Healthcare IT Market by Region; 2019 (Percentage, %)
3.2 Global Healthcare Information Technology (IT) Market: Solution Analysis
3.2.1 Global Revenue Cycle Management Healthcare IT Market by Value
Table 12: Global Revenue Cycle Management Healthcare IT Market by Value; 2018-2019
(US$ Billion)
Table 13: Global Revenue Cycle Management Healthcare IT Market by Value; 2020-2024
(US$ Billion)
3.2.2 Global Telemedicine Healthcare IT Market by Value
Table 14: Global Telemedicine Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 15: Global Telemedicine Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.2.3 Global mHealth Healthcare IT Market by Value
Table 16: Global mHealth Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 17: Global mHealth Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.2.4 Global Electronic Health Record (EHR) Healthcare IT Market by Value
Table 18: Global Electronic Health Record (EHR) Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 19: Global Electronic Health Record (EHR) Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.2.5 Global Healthcare Analytics Healthcare IT Market by Value
Table 20: Global Healthcare Analytics Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 21: Global Healthcare Analytics Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.2.6 Global Others Healthcare IT Market by Value
Table 22: Global Others Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 23: Global Others Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.3 Global Healthcare Information Technology (IT) Market: Component Analysis
3.3.1 Global Hardware Healthcare IT Market by Value
Table 24: Global Hardware Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 25: Global Hardware Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.3.2 Global Software Healthcare IT Market by Value
Table 26: Global Software Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 27: Global Software Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.3.3 Global Services Healthcare IT Market by Value
Table 28: Global Services Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 29: Global Services Healthcare IT Market by Value; 2020-2024 (US$ Billion)
3.4 Global Healthcare Information Technology (IT) Market: End User Analysis
3.4.1 Global Healthcare IT Provider Market by Value
Table 30: Global Healthcare IT Provider Market by Value; 2018-2019 (US$ Billion)
Table 31: Global Healthcare IT Provider Market by Value; 2020-2024 (US$ Billion)
3.4.2 Global Healthcare IT Payer Market by Value
Table 32: Global Healthcare IT Payer Market by Value; 2018-2019 (US$ Billion)
Table 33: Global Healthcare IT Payer Market by Value; 2020-2024 (US$ Billion)
4. Regional Market Analysis
4.1 North America Healthcare Information Technology (IT) Market: An Analysis
4.1.1 North America Healthcare IT Market by Value
Table 34: North America Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 35: North America Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.1.2 North America Healthcare IT Market by Region (The US and Rest of North America)
Table 36: North America Healthcare IT Market by Region; 2019 (Percentage, %)
4.1.3 The US Healthcare IT Market by Value
Table 37: The US Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 38: The US Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.1.4 The US Healthcare IT Market by Solution (Telemedicine, Revenue Cycle Management, Electronic Health Record (EHR), mHealth, Healthcare Analytics and Others)
Table 39: The US Healthcare IT Market by Solution; 2019 (Percentage, %)
4.1.5 The US Telemedicine Healthcare IT Market by Value
Table 40: The US Telemedicine Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 41: The US Telemedicine Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.1.6 The US Revenue Cycle Management Healthcare IT Market by Value
Table 42: The US Revenue Cycle Management Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 43: The US Revenue Cycle Management Healthcare IT Market by Value; 2020-2024
(US$ Billion)
4.1.7 The US Electronic Health Record (EHR) Healthcare IT Market by Value
Table 44: The US Electronic Health Record (EHR) Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 45: The US Electronic Health Record (EHR) Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.1.8 The US mHealth Healthcare IT Market by Value
Table 46: The US mHealth Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 47: The US mHealth Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.1.9 The US Healthcare Analytics Healthcare IT Market by Value
Table 48: The US Healthcare Analytics Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 49: The US Healthcare Analytics Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.1.10 The US Others Healthcare IT Market by Value
Table 50: The US Others Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 51: The US Others Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.1.11 Rest of North America Healthcare IT Market by Value
Table 52: Rest of North America Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 53: Rest of North America Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.2 Europe Healthcare Information Technology (IT) Market: An Analysis
4.2.1 Europe Healthcare IT Market by Value
Table 54: Europe Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 55: Europe Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.3 Asia Pacific Healthcare Information Technology (IT) Market: An Analysis
4.3.1 Asia Pacific Healthcare IT Market by Value
Table 56: Asia Pacific Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 57: Asia Pacific Healthcare IT Market by Value; 2020-2024 (US$ Billion)
4.4 ROW Healthcare Information Technology (IT) Market: An Analysis
4.4.1 ROW Healthcare IT Market by Value
Table 58: ROW Healthcare IT Market by Value; 2018-2019 (US$ Billion)
Table 59: ROW Healthcare IT Market by Value; 2020-2024 (US$ Billion)
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Healthcare
5.1.2 Impact of COVID-19 on Healthcare Information Technology (IT)
Table 60: Asia Pacific Percentage of Consumers Using Digital Health Services; 2020 & 2025 (Percentage, %)
6. Market Dynamics
6.1 Growth Driver
6.1.1 Rapid Urbanization
Table 61: Global Urbanization Rates by Region; 2010-2040 (Percentage, %)
6.1.2 Proliferation of Mobile Devices
Table 62: Global Smartphone Penetration Rate as Share of Population; 2016-2020
(Percentage, %)
6.1.3 Rising Volume of Healthcare Data
Table 63: Global Amount of Healthcare Data Generated; 2013-2020 (Exabytes)
6.1.4 Growing Adoption of Electronic Health Record (EHR)
6.1.5 Favorable Government Initiatives for Promoting Healthcare Technology
6.2 Challenges
6.2.1 High Cost Involved
6.2.2 Security Concerns
6.3 Market Trends
6.3.1 Growing Adoption of Telemedicine
Table 64: Global Number of Telehealth Patients; 2013-2018 (Million)
6.3.2 Integration of Artificial Intelligence (AI) in Healthcare Technology
Table 65: Global Healthcare Artificial Intelligence (AI) Market; 2018-2024 (US$ Billion)
6.3.3 Emergence of Internet of Medical Things (IoMT)
Table 66: Global Internet of Medical Things (IoMT) Market; 2018-2022 (US$ Billion)
6.3.4 Rising Popularity of Augmented Reality (AR) and Virtual Reality (VR) in Healthcare
Table 67: Global Augmented Reality (AR) and Virtual Reality (VR) Market in Healthcare; 2019-2025 (US$ Billion)
6.3.5 Surging Investments in 5G Technology
Table 68: Global Forecast Number of 5G Connections by Region; 2021-2025 (Million)
6.3.6 Escalating Acceptance of mHealth Solutions
6.3.7 Rising Penetration of Cloud-based Healthcare IT Services
6.3.8 Growing Use of Blockchain in Healthcare
7. Competitive Landscape
7.1 Global Healthcare Information Technology (IT) Market Players: A Financial Comparison
Table 69: Global Healthcare Information Technology (IT) Market Players: A Financial Comparison; 2019
7.2 Global Healthcare Information Technology (IT) Market Players by Main Focus Areas
Table 70: Global Healthcare Information Technology (IT) Market by Main Focus Areas
7.3 The US Healthcare Information Technology (IT) Players by Market Share
Table 71: The US Healthcare Information Technology (IT) Players by Market Share; 2019 (Percentage, %)
8. Company Profiles
8.1 Cerner Corporation
8.1.1 Business Overview
8.1.2 Financial Overview
Table 72: Cerner Corporation Revenues; 2015-2019 (US$ Billion)
Table 73: Cerner Corporation Revenues by Business Model; 2019 (Percentage, %)
Table 74: Cerner Corporation Revenues by Region; 2019 (Percentage, %)
8.1.3 Business Strategy
8.2 McKesson Corporation
8.2.1 Business Overview
8.2.2 Financial Overview
Table 75: McKesson Corporation Revenues; 2015-2019 (US$ Billion)
Table 76: McKesson Corporation Revenues by Segments; 2019 (Percentage, %)
Table 77: McKesson Corporation Revenues by Region; 2019 (Percentage, %)
8.2.3 Business Strategy
8.3 Allscripts Healthcare Solutions, Inc.
8.3.1 Business Overview
8.3.2 Financial Overview
Table 78: Allscripts Healthcare Solutions, Inc. Revenue; 2015-2019 (US$ Billion)
Table 79: Allscripts Healthcare Solutions, Inc. Revenue by Segments; 2019 (Percentage, %)
Table 80: Allscripts Healthcare Solutions, Inc. Revenue by Region; 2019 (Percentage, %)
8.3.3 Business Strategy
8.4 General Electric Company (GE Healthcare)
8.4.1 Business Overview
8.4.2 Financial Overview
Table 81: General Electric Company Total Revenues; 2017-2019 (US$ Billion)
Table 82: General Electric Company Total Revenues by Segments; 2019 (Percentage, %)
Table 83: General Electric Company Total Revenues by Region; 2019 (Percentage, %)
8.4.3 Business Strategy

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