Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions, & HCIT Outsourcing Services), Components (Services, Software, Hardware), End-User (Hospitals, Pharmacies, Payers), & Region - Global Forecasts to 2027
Description
Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions, & HCIT Outsourcing Services), Components (Services, Software, Hardware), End-User (Hospitals, Pharmacies, Payers), & Region - Global Forecasts to 2027
The global healthcare IT market is projected to reach USD 974.5 billion by 2027 from USD 394.6 billion in 2022, at a CAGR of 19.8% during the forecast period. Growth in this market is driven by the growing government initiatives to support healthcare IT solutions, rising use of big data, and need to curtail escalating healthcare costs. However, high cost of deployment of HCIT solutions, resistance from traditional providers are expected to restrain the growth of this market to a certain extent.
“The telehealth solutions segment is projected to be the largest segment in the clinicalhealthcare IT market”
Based on the type of clinical HCIT solutions, the telehealth solutions segment is projected to be the largest segment during the forecast period. This is majorly attributed to the government initiatives for eHealth across the globe, the increasing need to improve the quality of care, growing consolidation among healthcare providers, and the rising adoption of digital and connected healthcare technologies. The demand for healthcare services and increased adoption of predictive analytics are also expected to fuel the growth of this segment.
“Healthcare Providers was the largest segment by the end user of healthcare IT market in 2021”
Healthcare providers segment is projected to grow at the highest growth rate in the healthcare IT market in 2021. Growing need to curtail healthcare costs, rising need for better financial outcomes, healthcare reforms, and the need to improve patient care while increasing operational efficiency is expected to drive the demand for healthcare IT services in the coming years.
“APAC to witness the highest growth rate during the forecast period.”
Asia Pacific HCIT market will experience significant growth during the forecast period. The growth of Asia Pacific HCIT market can be contributed to the factors such as the growing support from government to increase the adoption of HCIT solutions, improving healthcare infrastructure, increasing healthcare expenditure and increasing consumer purchasing power.
The break-down of primary participants is as mentioned below:
By Company Type - Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By Designation - C-level: 35%, Director-level: 25%, and Others: 40%
By Region - North America: 45%, Europe: 30%, Asia Pacific: 20%, Latin America: 3%, and Middle East & Africa: 2%.
Key players in the Healthcare IT Market
The key players operating in the healthcare IT market include Optum, Inc. (US), Cerner Corporation (US), Cognizant (US), Change Healthcare (US), Koninklijke Philips (Netherlands), Epic Systems Corporation (US), Dell Technologies, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), athenahealth (US), GE Healthcare (US), Oracle Corporation (US), Wipro Limited (India), IBM (US), eClinicalWorks (US), Infor (US), Conduent (US), Conifer Health Solutions, LLC (US), Nuance Communications, Inc. (US), 3M (US), SAS Institute, Inc. (US), Carestream Health (US), Inovalon (US), Practice Fusion, Inc. (US),Intersystems Corporation (US), Tata Consultancy Services (India).
Research Coverage:
The report analyzes the healthcare IT market and aims to estimate the market size and future growth potential of various market segments, based on product & services, components, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market.
The global healthcare IT market is projected to reach USD 974.5 billion by 2027 from USD 394.6 billion in 2022, at a CAGR of 19.8% during the forecast period. Growth in this market is driven by the growing government initiatives to support healthcare IT solutions, rising use of big data, and need to curtail escalating healthcare costs. However, high cost of deployment of HCIT solutions, resistance from traditional providers are expected to restrain the growth of this market to a certain extent.
“The telehealth solutions segment is projected to be the largest segment in the clinicalhealthcare IT market”
Based on the type of clinical HCIT solutions, the telehealth solutions segment is projected to be the largest segment during the forecast period. This is majorly attributed to the government initiatives for eHealth across the globe, the increasing need to improve the quality of care, growing consolidation among healthcare providers, and the rising adoption of digital and connected healthcare technologies. The demand for healthcare services and increased adoption of predictive analytics are also expected to fuel the growth of this segment.
“Healthcare Providers was the largest segment by the end user of healthcare IT market in 2021”
Healthcare providers segment is projected to grow at the highest growth rate in the healthcare IT market in 2021. Growing need to curtail healthcare costs, rising need for better financial outcomes, healthcare reforms, and the need to improve patient care while increasing operational efficiency is expected to drive the demand for healthcare IT services in the coming years.
“APAC to witness the highest growth rate during the forecast period.”
Asia Pacific HCIT market will experience significant growth during the forecast period. The growth of Asia Pacific HCIT market can be contributed to the factors such as the growing support from government to increase the adoption of HCIT solutions, improving healthcare infrastructure, increasing healthcare expenditure and increasing consumer purchasing power.
The break-down of primary participants is as mentioned below:
By Company Type - Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By Designation - C-level: 35%, Director-level: 25%, and Others: 40%
By Region - North America: 45%, Europe: 30%, Asia Pacific: 20%, Latin America: 3%, and Middle East & Africa: 2%.
Key players in the Healthcare IT Market
The key players operating in the healthcare IT market include Optum, Inc. (US), Cerner Corporation (US), Cognizant (US), Change Healthcare (US), Koninklijke Philips (Netherlands), Epic Systems Corporation (US), Dell Technologies, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), athenahealth (US), GE Healthcare (US), Oracle Corporation (US), Wipro Limited (India), IBM (US), eClinicalWorks (US), Infor (US), Conduent (US), Conifer Health Solutions, LLC (US), Nuance Communications, Inc. (US), 3M (US), SAS Institute, Inc. (US), Carestream Health (US), Inovalon (US), Practice Fusion, Inc. (US),Intersystems Corporation (US), Tata Consultancy Services (India).
Research Coverage:
The report analyzes the healthcare IT market and aims to estimate the market size and future growth potential of various market segments, based on product & services, components, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market.
Table of Contents
536 Pages
- STUDY OBJECTIVES
- MARKET DEFINITION
- STUDY SCOPE
- YEARS CONSIDERED
- CURRENCY CONSIDERED
- STAKEHOLDERS
- SUMMARY OF CHANGES
- LIMITATIONS
- RESEARCH APPROACH
- MARKET SIZE ESTIMATION: HEALTHCARE IT MARKET
- MARKET BREAKDOWN & DATA TRIANGULATION
- MARKET SHARE ESTIMATION
- ASSUMPTIONS
- LIMITATIONS
- RISK ASSESSMENT
- EXECUTIVE SUMMARY
- HEALTHCARE IT MARKET OVERVIEW
- HEALTHCARE IT MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
- NORTH AMERICA: HEALTHCARE IT MARKET, BY PRODUCT & SERVICE AND COUNTRY (2021)
- REGIONAL MIX: HEALTHCARE IT MARKET
- HEALTHCARE IT MARKET: DEVELOPED VS. DEVELOPING MARKETS
- INTRODUCTION
- MARKET DYNAMICS
- US: EVOLUTION OF HCIT
- INDUSTRY TRENDS
- ADOPTION TRENDS
- TECHNOLOGY ANALYSIS
- POTENTIAL HCIT TECHNOLOGIES
- AI IN HEALTHCARE MARKET
- PRICING ANALYSIS
- PORTER'S FIVE FORCES ANALYSIS
- REGULATORY ANALYSIS
- VALUE-CHAIN ANALYSIS
- ECOSYSTEM ANALYSIS
- PATENT ANALYSIS
- CASE STUDY
- KEY STAKEHOLDERS AND BUYING CRITERIA
- KEY CONFERENCES AND EVENTS (2022-2023)
- TRENDS/DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES
- INTRODUCTION
- HEALTHCARE PROVIDER SOLUTIONS
- HEALTHCARE PAYER SOLUTIONS
- HCIT OUTSOURCING SERVICES
- INTRODUCTION
- SERVICES
- SOFTWARE
- HARDWARE
- INTRODUCTION
- HEALTHCARE PROVIDERS
- HEALTHCARE PAYERS
- INTRODUCTION
- NORTH AMERICA
- EUROPE
- ASIA PACIFIC
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- OVERVIEW
- KEY PLAYER STRATEGIES/RIGHT TO WIN
- REVENUE SHARE ANALYSIS OF THE TOP MARKET PLAYERS
- R&D EXPENDITURE
- GEOGRAPHIC REVENUE ASSESSMENT OF KEY PLAYERS
- COMPETITIVE BENCHMARKING
- COMPANY EVALUATION QUADRANT
- COMPANY EVALUATION QUADRANT FOR STARTUPS/SMES
- COMPETITIVE SCENARIO
- KEY PLAYERS
- OTHER PLAYERS
- DISCUSSION GUIDE
- KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- CUSTOMIZATION OPTIONS
- RELATED REPORTS
- AUTHOR DETAILS
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