About the Healthcare IT Market
The adoption of connected healthcare solutions, such as electronic health record (EHR) and PHR, has increased with the rise in need to enhance the overall quality of healthcare services. Also, tightening of government regulations in the healthcare sector has fueled the adoption of IT solutions globally. Healthcare information technology outsourcing (ITO) solution providers will have to follow the guidelines of healthcare Acts applicable to their operating jurisdiction while delivering services. We anticipate that the high adoption of cloud computing ITO solutions and services should reduce the overall in-house IT costs. Through these solutions, healthcare providers will be able to implement business applications swiftly, while remaining focused on their core business operations. In addition, we expect the global healthcare IT market to benefit immensely from the rising use of data analytics tools among hospitals and radiology laboratories. Healthcare IT solutions enable the delivery of healthcare services at low costs with high quality. Therefore, we expect developing countries to benefit immensely from these services.
Technavio’s analysts forecast the global healthcare IT market to grow at a CAGR of 7% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global healthcare IT market for 2016-2020. To calculate the market size, we consider revenue generated from the five segments: IT services, IT telecommunications, internal IT services, software, and hardware.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Healthcare IT Market 2016-2020
Technavio recognizes the following companies as the key players in the global healthcare IT market: Allscripts Healthcare Solutions, GE Healthcare, McKesson, Oracle, and Siemens Healthcare.
Other Prominent Vendors in the market are: Airclic, Binary System, CareFusion, Cerner, CGI, Dell, Epicor, Fujitsu, GENCO, GHX, HCL Technologies, Hexaware Technologies, HP, iGate, Infor, JDA Software, L & T Infotech, Manhattan Associates, Mayo Clinic, Microsoft, Owens & Minor, Philips Healthcare, ROi, SAP, Solstice Medical, Syntel, Tech Mahindra, TECSYS, and UPS.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is boosting market growth is the increased adoption of HIS. HIS departments outsource their coding and IT-related technologies to third-party ITO service providers to minimize the cost of software installation. Increased adoption of HIS devices by physicians to monitor patient’s health status has made it necessary to have technical experts. Hence, hospitals outsource their IT-related healthcare information services to domain experts to increase operational efficiency. Integrated IT solutions are required to connected HIS devices to other healthcare information systems such as laboratory and pharmacy information systems for information exchange.”
According to the report, a key growth driver is the changing government regulations as they pertain to the healthcare industry. Governments of many countries revise their regulations to make the healthcare sector more customer-oriented. WHO introduced guidelines for international classification of diseases (ICD), a standard diagnostic tool for epidemiology, health management, and for clinical purposes. The ICD guidelines are used globally for reimbursement systems and automated support in the healthcare sector. Currently, the guidelines are in their 10th version.
Further, the report states that one challenge that could impede market growth is the lack of transparency in the healthcare industry.
Allscripts Healthcare Solutions, GE Healthcare, McKesson, Oracle, Siemens Healthcare, Airclic, Binary System, CareFusion, Cerner, CGI, Dell, Epicor, Fujitsu, GENCO, GHX, HCL Technologies, Hexaware Technologies, HP, iGate, Infor, JDA Software, L & T Infotech, Manhattan Associates, Mayo Clinic, Microsoft, Owens & Minor, Philips Healthcare, ROi, SAP, Solstice Medical, Syntel, Tech Mahindra, TECSYS, UPS.
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