Healthcare IT Market - Trends Forecast Till 2028

Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions, & HCIT Outsourcing Services), Components (Services, Software, Hardware), End-User and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-HC-HITM-526

Format:  

Number of Pages: 265

Domain: Healthcare

Healthcare IT Market – Trends Forecast Till 2028

The global healthcare IT market is projected to reach USD 821.1 billion by 2026 from USD 326.1 billion in 2021, at a CAGR of 20.3% during the forecast period.

Healthcare information technology, often known as healthcare IT, is an area of information technology that deals with the development, design and maintenance of information systems in clinics, hospitals, and other healthcare institutions. Healthcare information technology reduces the risk of medical records being misplaced and allows healthcare practitioners to obtain patient health reports from a variety of places.

Government mandates & support for healthcare IT solutions; rising use of big data in healthcare; high returns on investment associated with healthcare IT solutions; the need to curtail escalating healthcare costs; the growing demand for and use of HCIT solutions due to COVID-19; and the growing mHealth, telehealth, and remote patient monitoring markets are some of the factors that have supported long-term expansion for Healthcare IT Market.

Due to the COVID-19 outbreak, medical practices of all sizes are under immense pressure. The rising prevalence of coronavirus disease has driven the demand for accurate diagnosis and treatment devices in several countries across the globe. In this regard, connected care technologies have proven to be very helpful, as they allow healthcare providers to monitor patients using digitally connected noninvasive devices, such as home blood pressure monitors and pulse oximeters.

Healthcare IT Market Report

Asia-Pacific is the fastest-growing market for healthcare IT market during the forecast period. The high growth in this regional market can be attributed to rising medical tourism, the implementation of new ICT guidelines in Japan, investments and reforms to modernize China’s healthcare infrastructure, the rapidly growing healthcare industry in India, and the implementation of IT programs in Australia and New Zealand.

Healthcare IT Market is segmented into product & services, component, end user and region.

On the basis of Product & Services

  • Healthcare provider solutions
  • Healthcare payer solutions
  • HCIT outsourcing services

On the basis of Component

  • Services
  • Software
  • Hardware

On the basis of End-User

  • Healthcare providers
  • Healthcare payers

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Healthcare IT Market Primary Respondent

 

Key Players

  • Optum
  • Cerner Corporation
  • Cognizant
  • Change Healthcare
  • Koninklijke Philips N.V.
  • EPIC Systems Corporation
  • Dell Technologies
  • Allscripts
  • athenahealth
  • GE Healthcare
  • Oracle Corporation
  • Wipro
  • IBM
  • eClinicaWorks
  • Infor Systems
  • Conduent
  • Conifer
  • Nuance Communications
  • 3M
  • SAS Institute
  • Carestream Health
  • Inovalon
  • Practice Fusion, Inc.
  • Tata consultancy services
  • Intersystems

Recent Developments

  • In May 2021, Optum and Bassett Healthcare Network collaborated to further enhance Bassett's clinical and operational performance and advance the delivery of high-quality, convenient, and affordable healthcare for patients across Central New York.
  • In June 2021, Cognizant and Aker Solutions partnered to modernize and simplify its entire IT infrastructure, including its business technology network and application maintenance and development.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Healthcare IT Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 326.1 billion

Growth Rate

CAGR of 20.3% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2026

Report Segmentation

product & services, component, end user and region

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Optum, Cerner, Cognizant, Change Healthcare, Philips Healthcare, Epic Systems, Dell Technologies, Allscripts, GE Healthcare, IBM, athenahealth, eClinicalWorks, Oracle Corporation, Conduent, Infor, Tata Consultancy Services, Wipro Limited, Conifer Health, Nuance, 3M, Inovalon, InterSystems, Carestream Health, Orion Health, Practice Fusion and SAS Institute

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