Healthcare IT Market Research Report – Forecast to 2023

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


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


 healthcare IT 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