Healthcare Information Technology Services Market Size, Share, Forecast 2022-2028
The global healthcare information technology services market size was valued at USD 432.3 billion in 2021 and is poised to grow at a significant CAGR of 17.2% during the forecast period 2022-28. Healthcare information technology provides security and data management solutions for healthcare information. Information technology now has a greater influence on the cost, quality, and safety of healthcare. Electronic medical records, healthcare records, and personal health records are some of the most often utilized applications in the healthcare business. The worldwide healthcare information systems market generated $35.5 billion in sales in 2013 and is expected to reach $53.5 billion by the end of 2019. The global market for healthcare information systems is expected to grow at a CAGR of 7.2 percent from 2013 to 2019.
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The worldwide healthcare information systems market is being driven by a growing ageing population, rising healthcare costs, and an increase in the frequency of certain deadly diseases such as cancer and coronary heart disease. Several governments and healthcare service providers are currently adopting these healthcare information systems to suit the rising demand for medical treatment in a cost-effective manner. Several IT-enabled services for rising markets and physicians in developing nations such as India and China are expanding the global healthcare information system industry. Nevertheless, a scarcity of qualified and competent people, high maintenance and service costs, and interoperability concerns are all impeding the growth of the worldwide healthcare information systems market. The rising popularity of cloud computing and wireless, as well as the focus on patient healthcare information, are some of the trends seen in the worldwide market for healthcare information systems.
The global healthcare information technology services market segmentation
- By Type: Payer Solutions, Clinical Solutions, Healthcare IT Outsourcing, Non Clinical Solutions
- By Services: Revenue Cycle Management Services, Accountable Care Organization Services, Business and Regulatory Support Services, Point of Care Decision Support Services, Homecare and Hospice Support Services, Document Management Services, Evidence Based Decision Support Services, Others
- By Delivery: Cloud Computing, On-Premises, Web Based Services
- By End users: Hospitals, Pharmacies, Laboratories, Home Healthcare Agencies, Others
Owing to the increasing demand for technologically sophisticated solutions and services in healthcare systems and the presence of a significant number of suppliers such as Accenture, Cerner, GE Healthcare, McKesson, Oracle, and Microsoft, North America accounted for the greatest share of over 45.0 percent in 2020. The existence of big health-care facilities in this area contributes to market expansion. Using technologically improved items, hospital procedures and administration may be run more efficiently. The passage of rules and regulations to encourage the deployment of EHRs is a key driver driving market expansion.
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There are some major players working in healthcare information technology market, which include Meditech (U.S.) United Healthcare Group(U.S.) Cerner Corporation (U.S.) Athenahealth, Inc. (U.S.) Mckesson Corporation (U.S.) Epic Systems Corporation (U.S.) GE Healthcare (U.S.) Siemens Healthcare (Germany) Oracle Corporation (U.S.) Epic Systems (U.S) Koninklijke Philips N.V. (The Netherlands) Allscripts (U.S.) Infor, Inc. (U.S.)
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