The Healthcare IT market is forecast to grow at a CAGR 12% to 13% during the forecast period 2019 to 2024.
In the future, the global healthcare market growth is predicted to boost due to increasing technological advancement, growing demand for information technology solutions in the healthcare industry and rising quality of care and clinical outcomes. However, excessive cost associated with the application of information technology in the healthcare sector and increasing concern for data security may hinder the growth of the market during the projected period. Moreover, implementation of wireless and cloud technology in the healthcare segment and use of mobile phones for health tracking are the major trend anticipated to boost the healthcare IT market in near future.
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Global healthcare IT market, by product type:
Clinical solutions, non-clinical solutions, healthcare payer solutions, and healthcare it outsourcing services and IT infrastructure management services. clinical solution is categorized into electronic health/medical records, vendor neutral archive (VNA), computerized physician order entry, clinical decision support systems, radiology information systems, radiation dose management solution, specialty management information systems, medical image processing &analysis solution, healthcare it integration systems, practice management systems, laboratory information systems, digital pathology solutions, health solutions and telehealth solutions.
Global healthcare IT market, Based on outsourcing services,
Provider healthcare IT outsourcing services, payer healthcare IT outsourcing services and operational healthcare IT outsourcing services. Globally, clinical solutions segment dominates the healthcare IT market followed by non- clinical solution segment. Rising demand for better healthcare management, improve healthcare infrastructure, ease of management and increasing investment of hospitals in information technology are the factors propelling the growth of overall hospital segment.
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Global healthcare IT market, Based on end user,
Healthcare providers and Healthcare payers. Healthcare providers includes Hospitals, Ambulatory Care Centres, Diagnostic & Imaging Centres, Pharmacies and others. The healthcare provider segment is estimated to account for the largest market share and expected to maintain their dominance throughout the forecast period owing to technological advancement and increasing demand for improved healthcare facilities globally. Furthermore, the hospital segment accounted for highest market followed by Ambulatory Care Centres.
Global healthcare IT market, by geography:
Healthcare IT market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. North America accounted for largest market share owing to presence of developed and well-established health care system in the region. However, Asia Pacific is anticipated to grow at highest CAGR during the projected period. The growth is attributed to government initiatives and investments in the healthcare sector and improving healthcare infrastructure in India and China.
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Global healthcare IT market, key participants:
Allscripts Healthcare Solutions, Inc, Agfa Gevaert NV, Carestream Health, Cerner Corporation, Cognizant Technology Solutions Corporation, Dell Technologies Inc., E-MDS Inc, EPIC Systems Corporation, GE Healthcare, Hewlett-Packard, Infor, Inc, McKesson Corporation, Novarad Corporation, Optum, Inc. (A Part of Unitedhealth Group Incorporated), Oracle Corporation, Philips Healthcare, Athenahealth Inc, eClinicalworks, koninklijke philips n.v. Key players in the global healthcare IT market are focusing on setting up their production bases in emerging Asian economies, such as India and China due to rising government investments & policies, improving healthcare infrastructure and growing healthcare market in the region. Most of the companies adopted expansions, acquisitions, agreements and investments as their major growth strategies, to enter new untapped markets, consequently increasing their respective market shares.
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