Download Free Sample
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Healthcare IT Market: By Product And Services, By Components, By End Users and Geography
Healthcare IT Market: By Product And Services, By Components, By End Users and Geography
Healthcare IT Market size was valued at US$ 211.2 billion in 2023 and is expected to reach US$ 429.7 billion in 2030, at a CAGR of 17.8% from 2024-2030. Due to the growing prevalence of chronic diseases globally, the implementation of healthcare IT programs has gained momentum in recent years to enhance Chronic Disease Management (CDM). Increasing demand for preventive care coupled with increased funding for various start-ups in mHealth is boosting market growth. Technological developments to enhance IT infrastructure, such as introducing IoT, AI, and big data, are one of the main factors driving market growth.
However, Low network coverage, data protection problems, and other related issues are expected to hamper market development. This study analyses the global market dynamics in a detailed manner to identify current trends and drivers, growth opportunities, and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across regions and consumer unmet needs.
Study Period
2024-2030Base Year
2023CAGR
17.8%Largest Market
North-AmericaFastest Growing Market
North America
The use of the internet and social media has become critical in today's evolving healthcare environment to gain a deeper understanding of healthcare IT and its effect on health communication. Between 2005 and 2017, participation in social networking sites had more than quadrupled and the adoption rate had risen, which had a positive effect on the market growth.
According to CMS, the US National Health Expenditure constitutes about 18% of GDP, which is projected to hit around 20% by 2020. It is expected that most growth will be fueled by public-sector investment, specifically Medicare and Medicaid. Growing investments in healthcare are thus likely to drive product innovation and acceptance of technology which, in turn, will propel the studied market globally.
North America had the largest revenue share of 39.1% in 2019 and is projected to rise dramatically over the forecast period. Strong EHR adoption coupled with government measures such as the Medicare and Medicaid implementation of EHR incentive programmes would stimulate business growth in North America. Growing funding activities to introduce various healthcare IT projects would also support the growth of the regional sector.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2023 |
US$ 211.2 billion |
|
Market Size in 2030 |
US$ 429.7 billion |
|
Market CAGR |
17.8% |
|
By Solution |
|
|
By Components |
|
|
By End-User |
|
Download Free Sample Report
The healthcare it market size was valued at US$ 211.2 billion in 2023 and is projected to reach US$ 429.7 billion by 2030 at a CAGR of 17.8% from 2024-2030.
The market key players are: GE Healthcare Siemens Healthcare Allscripts Healthcare Solutions Inc. Koninklijke Philips NV Oracle (Cerner Corporation)
The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Healthcare IT Market Introduction |
| 2.1.Global Healthcare IT Market - Taxonomy |
| 2.2.Global Healthcare IT Market - DefinITions |
| 2.2.1.Solution |
| 2.2.2.Components |
| 2.2.3.End Users |
| 2.2.4.Region |
| 3. Global Healthcare IT Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. OpportunITies/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Healthcare IT Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market OpportunITy Analysis |
| 5. Global Healthcare IT Market By Solution, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Radiology information systems |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market OpportunITy Analysis |
| 5.2. Electronic health record |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market OpportunITy Analysis |
| 5.3. Picture archiving and communication systems |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market OpportunITy Analysis |
| 5.4. Computerized physician order entry |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market OpportunITy Analysis |
| 5.5. Vendor neutral archives |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market OpportunITy Analysis |
| 5.6. mHealth |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market OpportunITy Analysis |
| 5.7. Healthcare analytics |
| 5.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.7.3. Market OpportunITy Analysis |
| 5.8. Tele health |
| 5.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.8.3. Market OpportunITy Analysis |
| 5.9. Supply chain management |
| 5.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.9.3. Market OpportunITy Analysis |
| 5.10. Customer relationship management |
| 5.10.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.10.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.10.3. Market OpportunITy Analysis |
| 5.11. Fraud management |
| 5.11.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.11.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.11.3. Market OpportunITy Analysis |
| 5.12. Revenue cycle management |
| 5.12.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.12.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.12.3. Market OpportunITy Analysis |
| 6. Global Healthcare IT Market By Components, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Services, |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market OpportunITy Analysis |
| 6.2. Software, |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market OpportunITy Analysis |
| 6.3. Hardware |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market OpportunITy Analysis |
| 7. Global Healthcare IT Market By End Users, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Healthcare providers |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market OpportunITy Analysis |
| 7.2. Healthcare payers |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market OpportunITy Analysis |
| 8. Global Healthcare IT Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market OpportunITy Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market OpportunITy Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market OpportunITy Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market OpportunITy Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market OpportunITy Analysis |
| 9. North America Healthcare IT Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Solution Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Radiology information systems |
| 9.1.2.Electronic health record |
| 9.1.3.Picture archiving and communication systems |
| 9.1.4.Computerized physician order entry |
| 9.1.5.Vendor neutral archives |
| 9.1.6.mHealth |
| 9.1.7.Healthcare analytics |
| 9.1.8.Tele health |
| 9.1.9.Supply chain management |
| 9.1.10.Customer relationship management |
| 9.1.11.Fraud management |
| 9.1.12.Revenue cycle management |
| 9.2. Others Components Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Services, |
| 9.2.2.Software, |
| 9.2.3.Hardware |
| 9.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Healthcare providers |
| 9.3.2.Healthcare payers |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.UnITed States of America (USA) |
| 9.4.2.Canada |
| 10. Europe Healthcare IT Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Solution Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Radiology information systems |
| 10.1.2.Electronic health record |
| 10.1.3.Picture archiving and communication systems |
| 10.1.4.Computerized physician order entry |
| 10.1.5.Vendor neutral archives |
| 10.1.6.mHealth |
| 10.1.7.Healthcare analytics |
| 10.1.8.Tele health |
| 10.1.9.Supply chain management |
| 10.1.10.Customer relationship management |
| 10.1.11.Fraud management |
| 10.1.12.Revenue cycle management |
| 10.2. Components Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Services, |
| 10.2.2.Software, |
| 10.2.3.Hardware |
| 10.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Healthcare providers |
| 10.3.2.Healthcare payers |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.ITaly |
| 10.4.4.UnITed Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11. Asia Pacific (APAC) Healthcare IT Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Solution Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Radiology information systems |
| 11.1.2.Electronic health record |
| 11.1.3.Picture archiving and communication systems |
| 11.1.4.Computerized physician order entry |
| 11.1.5.Vendor neutral archives |
| 11.1.6.mHealth |
| 11.1.7.Healthcare analytics |
| 11.1.8.Tele health |
| 11.1.9.Supply chain management |
| 11.1.10.Customer relationship management |
| 11.1.11.Fraud management |
| 11.1.12.Revenue cycle management |
| 11.2. Components Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Services, |
| 11.2.2.Software, |
| 11.2.3.Hardware |
| 11.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Healthcare providers |
| 11.3.2.Healthcare payers |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12. Middle East and Africa (MEA) Healthcare IT Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Solution Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Radiology information systems |
| 12.1.2.Electronic health record |
| 12.1.3.Picture archiving and communication systems |
| 12.1.4.Computerized physician order entry |
| 12.1.5.Vendor neutral archives |
| 12.1.6.mHealth |
| 12.1.7.Healthcare analytics |
| 12.1.8.Tele health |
| 12.1.9.Supply chain management |
| 12.1.10.Customer relationship management |
| 12.1.11.Fraud management |
| 12.1.12.Revenue cycle management |
| 12.2. Components Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Services, |
| 12.2.2.Software, |
| 12.2.3.Hardware |
| 12.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Healthcare providers |
| 12.3.2.Healthcare payers |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13. Latin America Healthcare IT Market,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Solution Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Radiology information systems |
| 13.1.2.Electronic health record |
| 13.1.3.Picture archiving and communication systems |
| 13.1.4.Computerized physician order entry |
| 13.1.5.Vendor neutral archives |
| 13.1.6.mHealth |
| 13.1.7.Healthcare analytics |
| 13.1.8.Tele health |
| 13.1.9.Supply chain management |
| 13.1.10.Customer relationship management |
| 13.1.11.Fraud management |
| 13.1.12.Revenue cycle management |
| 13.2. Components Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Services, |
| 13.2.2.Software, |
| 13.2.3.Hardware |
| 13.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Healthcare providers |
| 13.3.2.Healthcare payers |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. CompetITion Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.GE Healthcare |
| 14.2.2.Siemens Healthcare |
| 14.2.3.Allscripts Healthcare Solutions Inc. |
| 14.2.4.Koninklijke Philips NV |
| 14.2.5.Oracle (Cerner Corporation) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.