Healthcare IT Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Healthcare IT Market: By Product And Services (Healthcare Provider Solutions, Healthcare Analytics, Customer Relationship Management Solutions, Healthcare Interoperability Solutions and Pharmacy Information Systems), Components (Services, Software, Hardware), End Users (Healthcare providers, Healthcare payers) and Geography

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Description
Table Of Content

Report

Description

Healthcare IT Market size was valued at USD 206.3 billion in 2021 and is expected to reach USD 429.7 billion in 2028, at a CAGR of 15.8% during 2022-2028. Due to the growing prevalence of chronic diseases globally, the implementation of healthcare IT programmes has gained momentum in recent years in order 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, is 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 region and consumer unmet needs.

Healthcare IT Market

MARKET SUMMARY

15.8%

Study Period– 2022 – 2028
Base Year– 2021
CAGR– 15.8%
Largest Market– Europe
Fastest Growing Market– North America

Healthcare IT Market

The global healthcare IT market report provides a comprehensive outlook on healthcare IT worldwide with specific focus on key region such as North America, Europe, Asia Pacific, Latin America and MEA.
The report on global market gives historical, current and future market size (US$ Mn) on the basis of solution, end use, and geography.

Key Players

Inovalon
SAS Institute
Intersystems
Carestream Health
Practice Fusion, Inc

Healthcare IT Market Dynamics

The use of the internet and social media has become critical in today’s evolving healthcare environment in order to gain a deeper understanding of healthcare IT and their 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 Got Significant Share

Healthcare IT Market

The healthcare IT market in 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

North-America

Europe

Asia-Pacific

Middle East

Key

Features of the Report

The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
The report tracks recent innovations, key developments and startup’s details that are actively working in the market
The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Healthcare IT Market Segmentation

Solution

Radiology information systems
Electronic health record
Picture archiving and communication systems
Computerized physician order entry
Vendor neutral archives
mHealth
Healthcare analytics
Tele health
Supply chain management
Customer relationship management
Fraud management
Revenue cycle management
Others

Components

Services,
Software,
Hardware

By End-User

Healthcare providers
- Hospitals
- Pharmacies
- Diagnostic and imaging centers
- Ambulatory clinical units
- Others
Healthcare payers
- Private
- Public

Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.

Report