Healthcare Integration Market by Product (Interface Engine, Medical Device Integration, Media Integration), by Service (Implementation, Support, Training), by Application (Hospital, Laboratory, Radiology, Clinics) - Global Forecast to 2021
The global healthcare IT integration market is expected to grow at a strong CAGR of 10.2% during the forecast period of 2016 to 2021 and is estimated to reach USD 3.73 billion by 2021. Growth in this market is majorly driven by factors such as rising healthcare costs, strong government support and initiatives to curtail rising healthcare costs, the growing need to integrate healthcare systems, and efforts from healthcare providers to maximize their returns on investment. However, various interoperability issues, a fragmented end-users market, and the high cost of implementation still remain some of the challenges for greater adoption of integration tools within the healthcare industry, thus restraining the healthcare IT integration market growth.
In this report, the healthcare IT integration market is segmented based on solutions, applications, and regions. Based on solutions, the market is segmented into products and services. The healthcare integration products market is further bifurcated into interface/integration engines, medical device integration software, media integration solutions, and other integration tools. On the basis of services, the market is segmented into implementation services, support and maintenance services, and training services. During the forecast period, the interface/integration engines segment will continue to dominate the healthcare IT integration market.
By 2021, North America is expected to account for the largest share of the global healthcare IT integration market, followed by Europe, Asia-Pacific, and RoW. However, markets in developed geographies like North America and Europe are expected to grow at lower CAGRs as compared to Asia-Pacific. This is because the Asia-Pacific region is characterized by favorable factors for market growth, such as rising healthcare awareness, presence of less stringent regulations, improving healthcare infrastructure, and increasing demand for quality healthcare at low costs.
The major players in the healthcare IT integration market include Infor, Inc. (U.S.), InterSystems Corporation (U.S.), Cerner Corporation (U.S.), Orion Health (New Zealand), Quality Systems, Inc. (U.S.), Interfaceware, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), Qualcomm Life, Inc. (U.S.), AVI-SPL, Inc. (U.S.), Corepoint Health (U.S.), and Oracle (U.S.).
Infor, Inc. (U.S.) and Cerner Corporation (U.S.) are the major players in the healthcare IT integration market. In 2015, Infor, Inc. dominated the global healthcare IT integration market with its robust interface engine product offering and strong presence in more than 200 countries. Other leading players like Cerner Corporation (U.S.) Quality Systems, Inc. (U.S.) and InterSystems Corporation (U.S.) have a strong geographic presence with business operations in several geographies, including Europe, North America, Latin America, Asia, the Middle East, and Africa.
Reasons to Buy the Report
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (Market Penetration, Product Development/Innovation, Market Development, Market Diversification, and Competitive Assessment) for reaping a greater market share.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the healthcare IT integration market. The report analyzes the healthcare IT integration market by solutions, and applicationsacross all regions.
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the healthcare IT integration market.
Market Development: Comprehensive information of the lucrative emerging markets by solution, application, and geography.
Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the global healthcare IT integration market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of the leading players in the global healthcare IT integration market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook