Healthcare IT Market High-Demand, Scope, Share, Growth, Applications, Types and Forecasts Report 2027

A recent market study on the Healthcare IT market applies both primary and secondary research techniques to identify new opportunities for development

VANCOUVER, BC, CANADA, April 5, 2022 /EINPresswire.com/ -- The global healthcare IT market size reached USD 201.23 Billion in 2020 and is expected to be valued at USD 549.95 Billion in 2027 and register a steady CAGR during the forecast period, according to latest analysis by Emergen Research. This steady growth can be attributed to increasing government initiatives to implement Healthcare Information Technology (HCIT) solutions in the healthcare sector in developing countries and preference for digital payments in the healthcare industry. Adoption of paperless technology and solutions in the healthcare industry has been increasing rapidly in the past few years and this is expected to further boost growth of the global healthcare IT market growth during the forecast period.

High deployment and maintenance costs of healthcare IT solutions are key factors expected to restrain deployment, and hamper growth of the global healthcare IT market to a certain extent going ahead.

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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Healthcare IT market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Healthcare IT market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.

Key Highlights in the Report

In January 2021, the American Hospital Dubai – which is a division of Mohamed & Obaid Al Mulla Group – in collaboration with the multinational digital healthcare company Cerner Corporation, declared the very first findings of one of the prototypes from its data lab on Artificial Intelligence (AI). The lab serves as a model in the region to develop clinically driven AI techniques with validated predictive model results to support the healthcare industry.

Deployment of IT healthcare services has been increasing rapidly as services provided include maintenance and technical support, and this is driving revenue growth of the service segment to a significant extent.

Due to enhanced data and information security, deployment of on-premise IT healthcare solution is increasing, which is expected to continue to support revenue growth of the on-premise segment during the forecast period.

The electronic health records segment accounted for largest revenue share in the global healthcare IT market in 2020 owing to rising adoption of EHR system across the healthcare sector. In addition, increasing government initiatives to implement EHR systems in healthcare facilities to enhance patient care is propelling revenue growth of the electronic health records segment.

The healthcare provider segment is expected to dominate other end-use segments in terms of revenue share contribution to the global healthcare IT market during the forecast period.

The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

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Key Players Profiled in the Report are:

Cerner Corporation, Oracle Corporation, Epic System Corporation, SAP SE, NextGen Healthcare Inc., Cognizant Technology Solutions, Wipro Limited, Tata Consultancy Services Limited, Dell Technologies Inc., and Allscripts Healthcare Solutions, Inc.

Furthermore, the report provides a comprehensive overview of the Healthcare IT market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Healthcare IT market expected to boost the growth of the industry in the coming years.

Emergen Research has segmented the global healthcare IT market on the basis of component, delivery, application, end-use, and region.

Component Outlook (Revenue, USD Billion; 2017–2027)
Hardware

Software

Service

Delivery Outlook (Revenue, USD Billion; 2017–2027)
Cloud-based

On-premises

Application Outlook (Revenue, USD Billion; 2017–2027)
Electronic Prescribing System

Laboratory Information System

Tele-health

Computerized Provider Order Entry System

Electronic Health Records

Picture Archiving and Communication System

Healthcare Analytics

Radiology information system

mHealth

Fraud management

Vendor-neutral archive

Revenue cycle management

Customer relationship management

Others

End-use Outlook (Revenue, USD Billion; 2017–2027)
Healthcare Payer

Public Payers

Private Payers

Healthcare Provider

Pharmacies

Ambulatory clinical centers

Diagnostic and imaging centers

Hospitals

Others

Key Questions Answered in the Report:

What is the growth rate of the Healthcare IT market? What is the anticipated market valuation of Healthcare IT industry by 2028?

What are the key growth driving and restraining factors of the Healthcare IT market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Healthcare IT industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade

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Emergen Research
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