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Healthcare IT Market
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Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service, Hardware), Delivery Mode (Web, Cloud) and End User (Hospital, Payer, Pharmacy, Ambulatory, Homecare) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2031
Industry Overview
The global healthcare information technology (IT) market size was valued at $276 Billion in 2021, and is projected to reach $956.3 Billion by 2031, registering a CAGR of 11.96% from 2022 to 2031.
The market is primarily driven by the transition from volume-based to value-based care, the expansion of patient data, technological advancements, government mandates and financial incentives for HCIT solution adoption, growing public awareness of the importance of digital health, and the high return on IT investment in the healthcare sector. A growing desire to reduce healthcare costs, rising use of big data, and rising incidence and prevalence of chronic diseases linked to an ageing population all contribute to the market’s expansion. High installation and maintenance costs, however, in some ways restrain the expansion of the healthcare IT sector as a whole.
| Attribute | Key Insights |
| Estimated Market Value (2021) | 276 USD Billion |
| Forecasted Market Value (2032) | 956 USD Billion |
| CAGR % 2023-2028 | 11.96%` |
| Leading Region | North America |
Market Dynamics
Healthcare IT solutions assist enterprises in establishing a paperless workplace, giving doctors constant access to the patient’s medical records. For doctors, this leads to better judgement and fewer medical errors; for hospitals, it streamlines the exchange of health information, improves workflow management, and lowers total operating costs associated with providing treatment.
The delivery of high-quality, error-free healthcare is made possible through healthcare informatics. Electronic health records give doctors access to more accurate prescriptions and safer patient information transmission. Additionally, they aid in the accurate and thorough documenting of patients’ medical histories. HCIT systems help to improve decision support and make it easier to track unexpected drug interactions thanks to connected infrastructure. With the adoption of various HCIT tools and solutions, healthcare institutions throughout the world are concentrating on automating their systems and operational procedures.
COVID Impact
Everybody is aware that the COVID-19 outbreak has altered the rules of the game. It has had a significant impact on most markets and made adapting to the new reality necessary.
The field of our healthcare has been attacked by the coronavirus epidemic. We now face difficulties like restricted mobility, improved information control, a nearly universal feeling of fear and anxiety, and the possibility of healthcare inefficiencies. We found ourselves in a scenario where we had to adjust to the new reality due to exceptional circumstances.
The pandemic caused by COVID-19 has had a significant impact on the community, businesses, universities, and healthcare services. The pandemic has intensified efforts to utilize cutting-edge technologies to counter the COVID-19 threat to its existence. As a result, telehealth, remote work, and online education are all becoming increasingly important in assisting the community in halting the spread of the coronavirus.
Regional Trend
During the forecast period, the healthcare IT market in Asia-Pacific is anticipated to expand at the fastest rate. The development in this market is supposed to be driven by rising interests in medical services foundation advancements, arising pattern towards the digitization of patient records, sped up financial development of numerous nations in the locale, rising need to control the taking off medical care costs, and essentially taking off understanding populace with ongoing and irresistible sicknesses.
Competitive Landscape
The report includes competitive landscape based on the extensive assessment of the product portfolio offering, geographic presence, and key strategic developments adopted by the leading market players in the industry over the past 5 years. The key players profiled in the healthcare IT market research report are McKesson Corporation, Optum Health, International Business Machine Corporation (IBM), Allscripts Healthcare Solutions, Inc, athenahealth, Inc, Epic Systems Corporation, Dell Technologies Inc, GE Healthcare, Cerner Corporation, Oracle Corporation, Cognizant Technology Solutions Corporation, Nuance Communications, Inc, eClinicalWorks, NextGen Healthcare, Inc, Computer Programs and Systems, Inc. (CPSI), Conifer Health Solutions, LLC, 3M Company, Koninklijke Philips N.V, and Infor, Inc.
By Product
- Healthcare provider solutions
- Clinical Healthcare IT Solutions
-
- Electronic Health Record (EHR)
- PACS & VNA
- Computerized Physician Order Entry
- Clinical Decision Support System (CDSS)
- E-Prescribing system
- Patient Engagement Solutions
- Radiology Information Systems (RIS)
- Radiation Dose Management Solutions
- Specialty Information Management Systems
- Medical Image Analysis Systems
- Population Health Management Solutions
- Care Management Systems
- Patient Registry Software
- Laboratory Information Systems
- mheath Solutions
- Telemedicine
- HCIT Integration Systems
- Infection Surveillance Solutions
- Practice Management Systems
-
- Non-Clinical Healthcare IT Solutions
-
- Pharmacy Information Systems
- Healthcare Asset Management Solutions
- Healthcare Workforce Management Solutions
- Revenue Cycle Management Solutions
- Front-End RCM Solutions
- Mid-RCM Solutions
- Back-End RCM
- Medical Document Management Solutions
- Healthcare Information Exchanges
- Supply Chain Management Solutions
- Healthcare Analytics
- Clinical Analytics
- Financial Analytics
- Operational and Administrative Analytics
- Customer Relationship Management Solutions
- Medication Management Solutions
- Electronic Medication Administration Software
- Barcode Medication Administration Systems
- Medication Inventory Management Systems
- Medication Assurance Systems
- Healthcare Quality Management Solutions
- Healthcare Interoperability Solutions
- Financial Management Systems (Billing & Accounting)
- Medication Management Solutions
-
- Clinical Healthcare IT Solutions
- Healthcare payer solutions
- Claims Management Solutions
- Customer Relationship Management Solutions
- Fraud Analytics Solutions
- Provider Network Management Solutions
- Pharmacy Audit and Analysis Solutions
- Member Eligibility Management Solutions
- Population Health Management Solutions
- Payment Management Solutions
- Healthcare IT Outsourcing Services
- Provider HCIT Outsourcing services
- Revenue Cycle Management Services
- EMR/Medical Document Management Services
- Laboratory Information Management Services
- Other Provider HCIT Outsourcing Services
- Payer HCIT Outsourcing services
- Claims Management Services
- Provider Network Management Services
- Billing & Accounts Management Services
- Fraud Analytics Services
- Other Payer HCIT Outsourcing Services
- Operational HCIT Outsourcing Services
- Business Process Management Services
- Supply Chain Management Services
- Other Operational IT Outsourcing Services
- IT Infrastructure Management Services
- Provider HCIT Outsourcing services
By Delivery Mode
- Wed & Cloud-Based
- On-premises
By Component
- Services
- Software
- Hardware
By End User
- Healthcare Providers
- Hospitals
- Ambulatory Centers
- Home healthcare & Assisted Living Centers
- Diagnostic Centers
- Pharmacies
- Healthcare Payers
- Private payers
- Public payers
ToC
1. Global Healthcare IT Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Healthcare IT Market Scope and Market Estimation
1.2.1. Global Healthcare IT Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 – 2032)
1.2.2. Global Healthcare IT Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 – 2032
1.3. Market Segmentation
1.3.1. Product of Global Healthcare IT Market
1.3.2. Delivery of Global Healthcare IT Market
1.3.3. Component of Global Healthcare IT Market
1.3.4. End User of Global Healthcare IT Market
1.3.5. Region of Global Healthcare IT Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global Healthcare IT Market Industry Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Healthcare IT Market Industry Development
3.2. Market Dynamics, By Region
3.2.1. Drivers
3.2.2. Limitations
3.2.3. Opportunities
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Global Healthcare IT Market – Pricing Trends Analysis & Average Selling Prices (ASPs)
3.4. End-User / Customer Preferences & Consumer Surveys
3.5. Technology Roadmap & Key Innovations /Developments
3.6. Key Mandates & Regulatory Scenario Analysis
3.7. Patents Landscape
3.8. Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
3.9. Porter’s Five Forces Analysis
3.9.1. Bargaining Power of Suppliers
3.9.2. Bargaining Power of Buyers
3.9.3. Threat of Substitutes
3.9.4. Threat of New Entrants
3.9.5. Competitive Rivalry
3.10. PEST Analysis
3.10.1. Political Factors
3.10.2. Economic Factors
3.10.3. Social Factors
3.10.4. Technological Factors
3.11. SWOT Analysis
3.12. ANSOFF Matrix
3.12.1. Market Penetration Strategy
3.12.2. Product Development Strategy
3.12.3. Market Development Strategy
3.12.4. Diversification Strategy
3.13. Market Investment Feasibility Analysis
3.14. Opportunity Map Analysis
3.15. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4. Global Healthcare IT Market Estimates & Historical Trend Analysis (2019 – 2022)
5. Global Healthcare IT Market Estimates & Forecast Trend Analysis, by Product
5.1. Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by Product, 2019 to 2032
5.1.1. Healthcare provider solutions
5.1.1.1. Clinical Healthcare IT Solutions
5.1.1.1.1. Electronic Health Record (EHR)
5.1.1.1.2. PACS & VNA
5.1.1.1.3. Computerized Physician Order Entry
5.1.1.1.4. Clinical Decision Support System (CDSS)
5.1.1.1.5. E-Prescribing system
5.1.1.1.6. Patient Engagement Solutions
5.1.1.1.7. Radiology Information Systems (RIS)
5.1.1.1.8. Radiation Dose Management Solutions
5.1.1.1.9. Specialty Information Management Systems
5.1.1.1.10. Medical Image Analysis Systems
5.1.1.1.11. Population Health Management Solutions
5.1.1.1.12. Care Management Systems
5.1.1.1.13. Patient Registry Software
5.1.1.1.14. Laboratory Information Systems
5.1.1.1.15. mheath Solutions
5.1.1.1.16. Telemedicine
5.1.1.1.17. HCIT Integration Systems
5.1.1.1.18. Infection Surveillance Solutions
5.1.1.1.19. Practice Management Systems
5.1.1.2. Non-Clinical Healthcare IT Solutions
5.1.1.2.1. Pharmacy Information Systems
5.1.1.2.2. Healthcare Asset Management Solutions
5.1.1.2.3. Healthcare Workforce Management Solutions
5.1.1.2.4. Revenue Cycle Management Solutions
5.1.1.2.4.1. Front-End RCM Solutions
5.1.1.2.4.2. Mid-RCM Solutions
5.1.1.2.4.3. Back-End RCM
5.1.1.2.5. Medical Document Management Solutions
5.1.1.2.6. Healthcare Information Exchanges
5.1.1.2.7. Supply Chain Management Solutions
5.1.1.2.8. Healthcare Analytics
5.1.1.2.8.1. Clinical Analytics
5.1.1.2.8.2. Financial Analytics
5.1.1.2.8.3. Operational and Administrative Analytics
5.1.1.2.9. Customer Relationship Management Solutions
5.1.1.2.9.1. Medication Management Solutions
5.1.1.2.9.1.1. Electronic Medication Administration Software
5.1.1.2.9.1.2. Barcode Medication Administration Systems
5.1.1.2.9.1.3. Medication Inventory Management Systems
5.1.1.2.9.1.4. Medication Assurance Systems
5.1.1.2.9.1.5. Healthcare Quality Management Solutions
5.1.1.2.9.1.6. Healthcare Interoperability Solutions
5.1.1.2.9.1.7. Financial Management Systems (Billing & Accounting)
5.1.2. Healthcare payer solutions
5.1.2.1. Claims Management Solutions
5.1.2.2. Customer Relationship Management Solutions
5.1.2.3. Fraud Analytics Solutions
5.1.2.4. Provider Network Management Solutions
5.1.2.5. Pharmacy Audit and Analysis Solutions
5.1.2.6. Member Eligibility Management Solutions
5.1.2.7. Population Health Management Solutions
5.1.2.8. Payment Management Solutions
5.1.3. Healthcare IT Outsourcing Services
5.1.3.1. Provider HCIT Outsourcing services
5.1.3.1.1. Revenue Cycle Management Services
5.1.3.1.2. EMR/Medical Document Management Services
5.1.3.1.3. Laboratory Information Management Services
5.1.3.1.4. Other Provider HCIT Outsourcing Services
5.1.3.2. Payer HCIT Outsourcing services
5.1.3.2.1. Claims Management Services
5.1.3.2.2. Provider Network Management Services
5.1.3.2.3. Billing & Accounts Management Services
5.1.3.2.4. Fraud Analytics Services
5.1.3.2.5. Other Payer HCIT Outsourcing Services
5.1.4. Operational HCIT Outsourcing Services
5.1.4.1. Business Process Management Services
5.1.4.2. Supply Chain Management Services
5.1.4.3. Other Operational IT Outsourcing Services
5.1.5. IT Infrastructure Management Services
6. Global Healthcare IT Market Estimates & Forecast Trend Analysis, by Delivery Mode
6.1. Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by Delivery Mode, 2019 to 2032
6.2. Wed & Cloud-Based
6.3. On-premises
7. Global Healthcare IT Market Estimates & Forecast Trend Analysis, by Component
7.1. Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by Component, 2019 to 2032
7.2. Services
7.3. Software
7.4. Hardware
8. Global Healthcare IT Market Estimates & Forecast Trend Analysis, by End User
8.1. Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by End User, 2019 to 2032
8.2. Healthcare Providers
8.2.1. Hospitals
8.2.2. Ambulatory Centers
8.2.3. Home healthcare & Assisted Living Centers
8.2.4. Diagnostic Centers
8.2.5. Pharmacies
8.3. Healthcare Payers
8.3.1. Private payers
8.3.2. Public payers
9. Global Healthcare IT Market Estimates & Forecast Trend Analysis, by Region
9.1. Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2032
9.1.1. North America
9.1.2. Europe
9.1.3. Asia Pacific
9.1.4. Middle East & Africa
9.1.5. South America
10. North America Healthcare IT Market: Estimates & Forecast Trend Analysis
10.1. North America Healthcare IT Market Assessments & Key Findings
10.1.1. Healthcare IT Market Introduction
10.1.2. Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
10.1.2.1. By Product
10.1.2.2. By Delivery Mode
10.1.2.3. By Component
10.1.2.4. By End User
10.1.2.5. By Country
10.1.2.5.1. The U.S.
10.1.2.5.2. Canada
10.1.2.5.3. Mexico
11. Europe Healthcare IT Market: Estimates & Forecast Trend Analysis
11.1. Europe Healthcare IT Market Assessments & Key Findings
11.1.1. Healthcare IT Market Introduction
11.1.2. Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
11.1.2.1. By Product
11.1.2.2. By Delivery Mode
11.1.2.3. By Component
11.1.2.4. By End User
11.1.2.5. By Country
11.1.2.5.1. Germany
11.1.2.5.2. U.K.
11.1.2.5.3. France
11.1.2.5.4. Italy
11.1.2.5.5. Spain
11.1.2.5.6. Russia
11.1.2.5.7. Rest of Europe
12. Asia Pacific Healthcare IT Market: Estimates & Forecast Trend Analysis
12.1. Asia Pacific Market Assessments & Key Findings
12.1.1. Healthcare IT Market Introduction
12.1.2. Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
12.1.2.1. By Product
12.1.2.2. By Delivery Mode
12.1.2.3. By Component
12.1.2.4. By End User
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa Healthcare IT Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Market Assessments & Key Findings
13.1.1. Healthcare IT Market Introduction
13.1.2. Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
13.1.2.1. By Provider Service
13.1.2.2. By Payment Service
13.1.2.3. By Life Science Service
13.1.2.4. By Country
13.1.2.4.1. U.A.E.
13.1.2.4.2. Saudi Arabia
13.1.2.4.3. Egypt
13.1.2.4.4. South Africa
13.1.2.4.5. Rest of Middle East & Africa
14. South America Healthcare IT Market: Estimates & Forecast Trend Analysis
14.1. South America Market Assessments & Key Findings
14.1.1. Healthcare IT Market Introduction
14.1.2. Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
14.1.2.1. By Product
14.1.2.2. By Delivery Mode
14.1.2.3. By Component
14.1.2.4. By End User
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of South America
15. Competition Landscape
15.1. Healthcare IT Market Competition Index, By Leading Players
15.2. Healthcare IT Market Competition White Space Analysis, By Application / End-user
15.3. Healthcare IT Market Competition Heat Map Analysis, By Products / Services / Solutions
15.4. Healthcare IT Market Competition Regional Intensity Map Analysis, By Geographies Served
15.5. Healthcare IT Market Concentration & Company Market Shares (%) Analysis, 2022
15.6. Healthcare IT Market Competition Quadrant Analysis, By Leading Players / Innovators / Emerging Players / New Entrants
16. Company Profiles
16.1. Philips Healthcare
16.1.1. Company Overview & Key Stats
16.1.2. Financial Performance & KPIs
16.1.3. Product / Service / Solutions Portfolio & Applications / End-uses
16.1.4. Business Strategy & Recent Developments
* Similar details would be provided for all the players mentioned below
16.2. Agfa Healthcare
16.3. Hewlett-Packard Enterprise
16.4. Carestream Health
16.5. GE Healthcare
16.6. E-MDS, Inc.
16.7. Athenahealth, Inc.
16.8. eClinicalworks
16.9. McKesson Corporation
16.10. Others
17. Research Methodology
17.1. External Sources / Databases
17.2. Internal Proprietary Database
17.3. Primary Research
17.4. Secondary Research
17.5. Assumptions
17.6. Limitations
17.7. Report FAQs
18. Research Findings & Conclusion
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