Global Healthcare IT Outsourcing Market: Research Analysis 2015-2019
About healthcare IT outsourcing
Healthcare IT outsourcing is the process of contracting IT-related services in hospitals and clinical laboratories to a third-party service provider to reduce operational costs and improve efficiency. IT application and infrastructure outsourcing are the two functions that are frequently outsourced by hospitals and clinical laboratories. Economic condition, whether it is stable or unstable, has a direct impact on the healthcare sector in any country across the globe. Economic uncertainties and recession in countries affect healthcare spending as unemployment level increases and income decreases.
Technavio's analysts forecast the global healthcare IT outsourcing market to grow at a CAGR of 9.17% over the period 2014-2019.
Covered in this report
The report covers the current scenario and the growth prospects of the global healthcare IT outsourcing market for the period of 2015-2019. To calculate the market size, the report considers revenue generated from IT application outsourcing and infrastructure outsourcing related to the healthcare sector.
The market is divided into the following segments based on type of outsourcing:
Technavio Announces the Publication of its Research Report – Global Healthcare IT Outsourcing Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Healthcare IT Outsourcing Market: Accenture, Cognizant Technology Solutions Corporation, TCS, IBM and Infosys
Other Prominent Vendors in the market are: CGI, Dell, Fujitsu, HCL, iGATE, Hexaware, HP, L&T, Syntel, and Tech Mahindra.
Commenting on the report, an analyst from Technavio’s team said: “Cloud adoption in the healthcare industry is on the rise, owing to the need to minimize the cost of in-house IT infrastructures. Cloud computing services refer to the provision of resources supplied by third parties, wherein the companies using cloud services do not need to have their own infrastructure. Servers are maintained by companies that are experts in the field of cloud storage. Moreover, cloud services require minimal investment upfront because cloud computing vendors operate on a pay-per-use billing model.”
According to the report, with an increase in the healthcare sector's service portfolio, the IT requirements of healthcare providers are also on the rise. To remain competitive in the market, healthcare service providers must devise strategies that will help them increase revenue while minimizing investments. Also, the possibility of healthcare service providers losing revenue because of poor management, lack of innovation in service delivery systems, and lack of customer satisfaction has increased. Therefore, most healthcare service providers seek to optimize their IT systems to avoid loss of business productivity.
Further, the report states that the lack of multi-factor authentication in healthcare electronic devices increases the threat of cyber-attacks. Moreover, there is a growing threat of computer viruses that can lead to loss of efficiency of the system concerned. Therefore, threats to data security are expected to restrict the growth of the global healthcare ITO market during the forecast period.
Accenture, Cognizant Technology Solutions Corporation, TCS, IBM, Infosys, CGI, Dell, Fujitsu, HCL, iGATE, Hexaware, HP, L&T, Syntel, Tech Mahindra.
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