Healthcare IT Market Research Report: By Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions) Component (Services, Software) End-User (Healthcare Providers, Healthcare Payers, Research Centers) – Global Forecast Till 2023
ID: MRFR/HCIT/4494-HCR | February 2021 | Region: Global | 120 pages
Healthcare IT Market Overview Global Healthcare IT Market size is expected to have a CAGR of approximately 15% during 2018 to 2023.
Healthcare Information Technology (IT) is a vast field that applies IT for creating, designing, using, and maintaining the data systems in the field of healthcare. The market for healthcare IT is anticipated to grow at an immense rate due to the collective demand for improved healthcare facilities along with technological advancements in this field, globally.
It allows the exchange of health-related information electronically among numerous organizations. There are several wireless technologies available in the market such as Bluetooth, WLAN, WMAN, WWAN, zigbee technology, Radio Frequency Identification (RFID), and others.
The growing need to manage regulatory compliance through healthcare IT solutions, the increasing need to curtail healthcare costs, government support for HCIT solutions, and high return on investment for HCIT solutions are the factors expected to drive the market over the forecast period. However, the high cost of deployment and reluctance among medical professionals to adopt advanced healthcare IT tools may constrain the market growth.
Figure 1: - Global Healthcare IT Market Share, by Region
Healthcare IT Market Segmentation Analysis
Global healthcare IT market report has been segmented on the basis of products and services, component, and end-user.
On the basis of products and services, Global healthcare IT market analysis can be segmented into healthcare provider solutions, healthcare payer solutions, HCIT outsourcing services, and others.
The clinical solutions are categorized into electronic health records/electronic medical record systems, picture archiving and communication systems and vendor neutral archive systems, computerized physician order entry systems, clinical decision support systems, e-prescribing solutions, radiology information systems, radiation dose management, specialty management information systems, medical image analysis systems, population health management solutions, patient registry software, healthcare IT integration systems, practice management systems, laboratory information systems, mobile health applications, telehealth solutions, and infection surveillance solutions.
The nonclinical - healthcare IT solutions are further categorized into pharmacy information systems, medication management systems, healthcare asset management software, Workforce Management Systems (WFM), revenue cycle management solutions, medical document management solutions, financial management systems, Healthcare Information Exchange (HIE), supply chain management solutions, healthcare analytics, and Customer Relationship Management (CRM).
Healthcare payer solutions are categorized into pharmacy audit and analysis systems, claims management solutions, analytics and fraud management solutions, member eligibility management solutions, provider network management solutions, billing and accounts (payment) management solutions, customer relationship management solutions, population health management solutions, and others. HCIT outsourcing services are divided into provider HCIT outsourcing services market, payer IT outsourcing services, operational IT outsourcing services, and IT infrastructure management services.
On the basis of component, the global healthcare IT market can be segmented into services, software, and hardware.
On the basis of end-user, the global healthcare IT market is segmented into healthcare providers, healthcare payers, research centers, third-party administrators, and government institutions.
Healthcare providers are further divided into hospitals, ambulatory care centers, home healthcare agencies, nursing homes, assisted living facilities, diagnostic and imaging centers, and pharmacies. Moreover, healthcare payers are also divided into private payers and public payers. Key Players
Some of the key players in the global healthcare IT market are Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), McKesson Corporation, (U.S.), Oracle Corporation (U.S.), Infor, Inc. (U.S.). Cognizant Technology Solutions Corporation (U.S.), athenahealth, Inc. (U.S.), Dell Technologies (U.S.), McKesson Corporation (U.S.), United Healthcare Group (U.S.), GE Healthcare (UK), Koninklijke Philips N.V. (The Netherlands), Wolters Kluwer (Netherland), IBM (U.S.), 3M health Information Systems (U.S.), Conifer Health Solutions (U.S.), Kronos Incorporated (U.S.), Anthelio Healthcare Solutions Inc. (U.S.), Lexmark Healthcare (U.S.), Orion Health (New Zealand), CSI Healthcare IT (U.S.), Syntel Inc. (U.S.), Spok Inc. (U.S.), and others.
Intended Audience
- Healthcare IT solution providers
- Healthcare IT vendors
- Healthcare IT service providers
- Healthcare payers
- Academic research institutes
- Government institutes
- Market research and consulting firms
- Venture capitalists and investors
Research Methodology
Sources: Annual reports, Press release, White paper, and Company presentation
Healthcare IT Market Regional Analysis
Global healthcare IT market growth consists of four regions, namely, the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas region accounted for the largest market share of the global healthcare IT market owing to the presence of high-quality healthcare systems and modern medical technology in the country.
The European healthcare IT market is the second largest market followed by Asia Pacific. As per the Medtech Media, over 31% of healthcare providers are using social media for professional networking. Healthcare providers across Europe are adopting social media technologies, and this is driving the European healthcare IT market.
The Asia Pacific region is expected to exhibit the fastest growth throughout the forecast period owing to the accelerated economic growth of countries in the region and the increasing need to control the soaring healthcare costs. These factors are also responsible for the emerging trend towards the digitization of patient records among healthcare organizations in this region.
Countries such as China and India are exhibiting rapid growth, followed by South Korea. Subsequently, the government in these developing economies have taken various efforts to mend the healthcare services and provide better infrastructure. In these circumstances, healthcare IT acts as a bridge that connects all healthcare entities, minimizes manual errors, and curbs expenses. Although the healthcare information technology industry in India is still at its nascent stage, the demand for healthcare IT solutions is expected to increase during the forecast period.
The Middle Eastern region is expected to grow at a steady pace owing to factors such as increasing occurrence of chronic disorders, improving healthcare infrastructure, and growing demand for better healthcare services.
Frequently Asked Questions (FAQ) :
Global healthcare IT market is expected to grow at a CAGR of 15.8% from 2018 to 2023.
Global healthcare IT market is driven by demands for improved healthcare facilities.
High deployment and installation costs are the major restraining factor of the global healthcare IT market.
The Americas can dominate the global healthcare IT market due to high-quality healthcare systems and upgradation of medical equipment.
The APAC region can display the fastest growth rate in the global healthcare IT market till 2023.
Anthelio Healthcare Solutions Inc., Spok Inc., Wolters Kluwer, Syntel Inc., Allscripts Healthcare Solutions, Inc., Cerner Corporation, Kronos Incorporated, Lexmark Healthcare, Oracle Corporation, McKesson Corporation, GE Healthcare, Conifer Health Solutions, IBM, CSI Healthcare IT, Infor, Inc., athenahealth, Inc., Cognizant Technology Solutions Corporation, Koninklijke Philips N.V., Dell Technologies, Epic Systems Corporation, Orion Health, United Healthcare Group, McKesson Corporation, and 3M health Information Systems are key players in the global healthcare IT market.
TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Healthcare IT Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Healthcare IT Market Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Healthcare IT Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Healthcare IT Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
Chapter 6. Healthcare IT Market, by Product & Services
6.1 Introduction
6.2 Healthcare Provider Solutions
6.2.1 Market Estimates & Forecast, 2018–2023
6.2.2 Clinical Solutions
6.2.2.1 Electronic Health Records/Electronic Medical Records Systems
6.2.2.2 Picture Archiving and Communication Systems and Vendor Neutral
Archive Systems
6.2.2.3 Computerized Physician Order Entry Systems
6.2.2.4 Clinical Decision Support Systems
6.2.2.5 e-Prescribing Solutions
6.2.2.6 Radiology Information Systems
6.2.2.7 Radiation Dose Management
6.2.2.8 Specialty Management Information Systems
6.2.2.9 Medical Image Analysis Systems
6.2.2.10 Population Health Management Solutions
6.2.2.11 Patient Registry Software
6.2.2.12 Healthcare IT Integration Systems
6.2.2.13 Practice Management Systems
6.2.2.14 Laboratory Information Systems
6.2.2.15 Mobile Health Applications
6.2.2.16 Telehealth Solutions
6.2.2.17 Infection Surveillance Solutions
6.2.3 Nonclinical Healthcare IT Solutions
6.2.3.1 Pharmacy Information Systems
6.2.3.2 Medication Management Systems
6.2.3.2.1 Electronic Medication Administration Software
6.2.3.2.2 Barcode Medication Administration
6.2.3.2.3 Medication Inventory Management Systems
6.2.3.2.4 Medication Assurance Systems
6.2.3.3 Healthcare Asset Management Software
6.2.3.4 Workforce Management Systems (WFM)
6.2.3.5 Revenue Cycle Management Solutions
6.2.3.6 Medical Document Management Solutions
6.2.3.7 Financial Management Systems
6.2.3.8 Healthcare Information Exchange (HIE)
6.2.3.9 Supply Chain Management Solutions
6.2.3.9.1 Procurement Management Solutions
6.2.3.9.2 Inventory Management
6.2.3.10 Healthcare Analytics
6.2.3.10.1 Clinical Analytics
6.2.3.10.2 Financial Analytics
6.2.3.10.3 Operational and Administrative Analytics
6.2.3.11 Customer Relationship Management (CRM)
6.2.4 Healthcare Payer Solutions
6.2.4.1 Pharmacy Audit and Analysis Systems
6.2.4.2 Pharmacy Audit and Analysis Systems
6.2.4.3 Analytics and Fraud Management Solutions
6.2.4.4 Member Eligibility Management Solutions
6.2.4.5 Provider Network Management Solutions
6.2.4.6 Billing and Accounts (Payment) Management Solutions
6.2.4.7 Customer Relationship Management Solutions
6.2.4.8 Population Health Management Solutions
6.2.4.9 Other Payer Solutions
6.2.5 HCIT Outsourcing Services
6.2.5.1 Provider HCIT Outsourcing Services Market
6.2.5.1.1 EMR/Medical Document Management Services
6.2.5.1.2 Pharmacy Information Management Services
6.2.5.1.3 Laboratory Information Management Services
6.2.5.1.4 Revenue Cycle Management Services
6.2.5.1.5 Other Provider Outsourcing Services
6.2.5.2 Payer IT Outsourcing Services
6.2.5.2.1 Claims Management Services
6.2.5.2.2 Integrated Front-End Services and Back-Office Operations
6.2.5.2.3 Member Management Services
6.2.5.2.4 Provider Network Management Services
6.2.5.2.5 Billing and Accounts Management Services
6.2.5.2.6 Analytics and Fraud Management Services
6.2.5.2.7 HR Services
6.2.5.3 Operational IT Outsourcing Services
6.2.5.3.1 Business Process Management Services
6.2.5.3.2 Supply Chain Management Services
6.2.5.3.3 Other Operational It Outsourcing Services
6.2.5.4 IT Infrastructure Management Services
6.2.5.4.1 Market Estimates & Forecast, 2018–2023
Chapter 7. Healthcare IT Market, by Component
7.1 Introduction
7.2 Services
7.2.1 Market Estimates & Forecast, 2018–2023
7.3 Software
7.3.1 Market Estimates & Forecast, 2018–2023
7.4 Hardware
7.4.1 Market Estimates & Forecast, 2018–2023
Chapter 8. Healthcare IT Market, by End-User
8.1 Introduction
8.2 Healthcare Providers
8.2.1 Hospitals
8.2.2 Ambulatory Care Centers
8.2.3 Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
8.2.4 Diagnostic and Imaging Centers
8.2.5 Pharmacies
8.3 Healthcare Payers
8.3.1 Private Payers
8.3.2 Public Payers
8.4 Research Centers
8.4.1 Market Estimates & Forecast, 2018–2023
8.5 Third Party Administrators
8.5.1 Market Estimates & Forecast, 2018–2023
8.6 Government Institutions
8.6.1 Market Estimates & Forecast, 2018–2023
8.7 Others
Chapter 9. Healthcare IT Market, by Region
9.1 Introduction
9.2 Americas
9.2.1 North America
9.2.1.1 U.S.
9.2.1.1 Canada
9.2.2 South America
9.3 Europe
9.3.1 Western Europe
9.3.1.1 Germany
9.3.1.2 France
9.3.1.3 Italy
9.3.1.4 Spain
9.3.1.5 U.K.
9.3.1.6 Rest of Western Europe
9.3.2 Eastern Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 Republic of Korea
9.4.6 Rest of Asia Pacific
9.5 The Middle East & Africa
9.5.1 The Middle East
9.5.2 Africa
Chapter 10. Healthcare IT Market Company Landscape
10.1 Introduction
10.2 Market Share Analysis
10.3 Key Development & Strategies
Chapter 11. Healthcare IT Market Company Profiles
11.1 McKesson Corporation
11.1.1 Company Overview
11.1.2 Product Overview
11.1.3 Financials
11.1.4 SWOT Analysis
11.2 Epic Systems Corporation
11.2.1 Company Overview
11.2.2 Product Overview
11.2.3 Financial Overview
11.2.4 Key Developments
11.2.5 SWOT Analysis
11.3 Cerner Corporation
11.3.1 Company Overview
11.3.2 Product Overview
11.3.3 Financial Overview
11.3.4 Key Development
11.3.5 SWOT Analysis
11.4 GE Healthcare
11.4.1 Company Overview
11.4.2 Product/Business Segment Overview
11.4.3 Financial Overview
11.4.4 Key Development
11.4.5 SWOT Analysis
11.5 Philips Healthcare
11.5.1 Company Overview
11.5.2 Product Overview
11.5.3 Financial overview
11.5.4 Key Developments
11.6 Athenahealth, Inc.
11.6.1 Company Overview
11.6.2 Product Overview
11.6.3 Financial Overview
11.6.4 Key Developments
11.7 Allscripts Healthcare Solutions, Inc.
11.7.1 Overview
11.7.2 Product Overview
11.7.3 Financials
11.7.4 Key Developments
11.7.5 SWOT Analysis
11.8 Oracle Corporation
11.8.1 Company Overview
11.8.2 Product/Business Segment Overview
11.8.3 Financial Overview
11.8.4 Key Development
11.8.5 SWOT Analysis
11.9 Cognizant Technology Solutions Corporation
11.9.1 Company Overview
11.9.2 Product Overview
11.9.3 Financial overview
11.9.4 Key Developments
11.10 Dell Technologies
11.11.1 Company Overview
11.11.2 Product Overview
11.11.3 Financial overview
11.11.4 Key Developments
11.11 Infor, Inc.
11.11.1 Company Overview
11.11.2 Product Overview
11.11.3 Financial overview
11.11.4 Key Developments
11.12 Others
Chapter 12. Healthcare IT MarketMRFR Conclusion
12.1 Key Findings
12.1.1 From CEO’s View Point
12.1.2 Unmet Needs of the Market
12.2 Key Companies to Watch
12.3 Prediction of the IT Industry
Chapter 13 Appendix
LIST OF TABLES
Table 1 Healthcare IT Industry Synopsis, 2018–2023
Table 2 Healthcare IT Market Estimates & Forecast, 2018–2023, (USD Million)
Table 3 Healthcare IT Market, by Region, 2018–2023, (USD Million)
Table 4 Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 5 Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 6 Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 7 North America Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 8 North America Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 9 North America Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 10 U.S. Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 11 U.S. Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 12 U.S. Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 13 Canada Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 14 Canada Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 15 Canada Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 16 South America Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 17 South America Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 18 South America Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 19 Europe Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 20 Europe Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 21 Europe Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 22 Western Europe Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 23 Western Europe Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 24 Western Europe Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 25 Eastern Europe Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 26 Eastern Europe Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 27 Eastern Europe Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 28 Asia Pacific Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 29 Asia Pacific Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 30 Asia Pacific Healthcare IT Market, by End-User, 2018–2023, (USD Million)
Table 31 The Middle East & Africa Healthcare IT Market, by Product & Services, 2018–2023, (USD Million)
Table 32 The Middle East & Africa Healthcare IT Market, by Component, 2018–2023, (USD Million)
Table 34 The Middle East & Africa Healthcare IT Market, by End-User, 2018–2023, (USD Million)
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation for Healthcare IT Market
Figure 3 Segmentation Market Dynamics for Healthcare IT Market
Figure 4 Global Healthcare IT Market Share, by Product & Services 2016
Figure 5 Global Healthcare IT Market Share, by Component 2016
Figure 6 Global Healthcare IT Market Share, by End-User 2016
Figure 7 Global Healthcare IT Market Share, by Region, 2016
Figure 8 Americas Healthcare IT Market Share, by Country, 2016
Figure 9 Europe Healthcare IT Market Share, by Country, 2016
Figure 10 Asia Pacific Healthcare IT Market Share, by Country, 2016
Figure 11 Middle East & Africa Healthcare IT Market Share, by Country, 2016
Figure 12 Global Healthcare IT Market: Company Share Analysis, 2016 (%)
Figure 13 McKesson Corporation: Key Financials
Figure 14 McKesson Corporation: Segmental Revenue
Figure 15 McKesson Corporation: Geographical Revenue
Figure 16 Epic Systems Corporation: Key Financials
Figure 17 Epic Systems Corporation: Segmental Revenue
Figure 18 Epic Systems Corporation: Geographical Revenue
Figure 19 Cerner Corporation: Key Financials
Figure 20 Cerner Corporation: Segmental Revenue
Figure 21 Cerner Corporation: Geographical Revenue
Figure 22 GE Healthcare: Key Financials
Figure 23 GE Healthcare: Segmental Revenue
Figure 24 GE Healthcare: Geographical Revenue
Figure 25 Philips Healthcare: Key Financials
Figure 26 Philips Healthcare: Segmental Revenue
Figure 27 Philips Healthcare: Geographical Revenue
Figure 28 Athenahealth, Inc.: Key Financials
Figure 29 Athenahealth, Inc.: Segmental Revenue
Figure 30 Athenahealth, Inc.: Geographical Revenue
Figure 31 Allscripts Healthcare Solutions, Inc.: Key Financials
Figure 32 Allscripts Healthcare Solutions, Inc.: Segmental Revenue
Figure 33 Allscripts Healthcare Solutions, Inc.: Geographical Revenue
Figure 34 Oracle Corporation: Key Financials
Figure 35 Oracle Corporation: Segmental Revenue
Figure 36 Oracle Corporation: Geographical Revenue
