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Healthcare IT Market 2019-2024 Development History, Current Assessment, Business Strategy, Upcoming Trends of Industry

Healthcare IT

The primary goal of this Global Healthcare IT Market report is to maintain the record of Unusual growth strategies adopted by various companies are creating new standards for competition in the global Healthcare IT market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. The impact of prevailing regulatory scenario on both regional and worldwide Healthcare IT market is provided in detail in the report.

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Key Market Trends:

Services Sub-segment is Expected to hold its Highest Market Share in the Component Segment

In the component segment of the healthcare IT market, services are believed to have the largest market size and are expected to witness a CAGR of 12.77% during the forecast period.

The services sub-segment includes both support and maintenance and professional services. The services sub-segment held the largest market share in 2017 and is expected to grow significantly during the forecast period. Since the implementation of IT in healthcare, the amount of data has been increasing continuously; the storage and maintenance costs of data have increased over the last few years. Additionally, healthcare institutions lack skilled IT professionals to handle this huge amount of data. Hence, the increasing cost, along with lack of skilled professionals, has compelled several institutions to opt for the maintenance and support services provided by healthcare IT companies.

In addition to the maintaining and supporting services, analytics, which holds a significant market share, is also being provided by the leading players, such as IBM, GE Healthcare, Philips, etc. With the emergence and introduction of cloud-based technology in healthcare, the share of the services sub-segment has gone up significantly.

North America Dominates the Market and is Expected to do the Same in the Forecast Period

North America, being the developed region, is currently dominating the market for healthcare IT and is expected to continue to hold the large market share for a few more years. The major factors responsible for the region’s largest market share in the future are the well-established healthcare industry and better reimbursement facilities in the region. The United States holds the majority of the market in the North American region; this is due to the higher adoption of digital healthcare in the country and the rising investments done by the companies over there.

Healthcare IT Market Covers Key Players:

  • GE Healthcare
  • Philips Healthcare
  • Siemens Healthcare
  • Cerner Corporation
  • Allscripts Healthcare Solutions Inc.
  • Wipro
  • Oracle Corporation
  • IBM
  • SAS Institute Inc.
  • Dell Technologies Inc.
  • Mckesson Corporation

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    Geographical Landscape:

    This Report Focuses on the Healthcare IT in the Global market, especially in North America, China, Europe, Japan, Southeast Asia, India. This report categorizes the market based on manufacturers, regions, type, and application

    Market Overview:

  • The global healthcare IT market was valued at USD 75,080.5 million in 2018, and is estimated to be valued at USD 15,0474.78 million in 2024, witnessing a CAGR of 12.29%. The rise in the demand for paperless technology, the emergence of social media and its impact on the healthcare IT industry are some of the major factors responsible for the current growth of the market studied. Along with these, increased funding from governments, various initiatives taken by the associations for the improvement of healthcare services and infrastructure, and a good return on investments are the other factors augmenting the growth of the market.
  • In today’s changing healthcare landscape, the usage of internet and social media has become important to develop a better understanding of healthcare information technologies and their impact on health communication. From 2005 to 2017, the participation in social networking sites had more than quadrupled and the adoption rate had gone high, which showed a positive impact on the growth of the market studied. According to CMS, the US National health expenditures represent approximately 18% of the GDP (Gross Domestic Product), which is expected to reach roughly 20%, by 2020. The majority of the growth is anticipated to be fuelled by public sector spending, specifically by Medicare and Medicaid. Medicaid and social security are expected to exceed government revenues. Thus, increasing investments in healthcare are likely to drive product innovation and technology acceptance, which, in turn, may propel the market studied, globally.

    Report Highlights:

    – The report provides a detailed analysis on current and future market trends to identify the investment opportunities

    – Market forecasts till 2024, using estimated market values as the base numbers

    – Key market trends across the business segments, Regions and Countries

    – Key developments and strategies observed in the market

    – Market Dynamics such as Drivers, Restraints, Opportunities and other trends

    – In-depth company profiles of key players and upcoming prominent players

    – Growth prospects among the emerging nations through 2024

    – Healthcare IT Market opportunities and recommendations for new investments

    Price Of Report: $ 6000 (SUL)

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    Detailed TOC of Healthcare IT Market Research Report 2019 – 2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Rise in the Demand for Paper-less Technology
    4.2.2 Emergence of Social Media and its Impact on the Healthcare IT Industry
    4.2.3 Increased Government Funding on Healthcare Services and Infrastructure
    4.2.4 Good Return of Investments (ROI)
    4.3 Market Restraints
    4.3.1 Lack of Skilled Labor
    4.3.2 High Maintenance Costs
    4.3.3 Reluctance to Shift to New Technology
    4.4 Industry Attractiveness – Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Business Segment
    5.1.1 Hospital Information Systems (HIS)
    5.1.2 Laboratory Information Systems (LIS)
    5.1.3 Clinical Information Systems (CIS)
    5.1.4 Radiology Information Systems (RIS)
    5.1.5 Cardiovascular Information System (CVIS)
    5.1.6 Electronic Health Records (EHR)
    5.1.7 Telemedicine
    5.1.8 Vendor Neutral Archive (VNA)
    5.1.9 Picture Archiving and Communication System (PACS)
    5.1.10 Clinical Decision Support System (CDSS)
    5.1.11 Other Business Segments
    5.2 By Component
    5.2.1 Software
    5.2.2 Hardware
    5.2.3 Services
    5.3 By Delivery Mode
    5.3.1 On-premise
    5.3.2 Cloud-based
    5.4 By End User
    5.4.1 Payers
    5.4.2 Providers
    5.5 Geography
    5.5.1 North America
    5.5.1.1 United States
    5.5.1.2 Canada
    5.5.1.3 Mexico
    5.5.2 Europe
    5.5.2.1 Germany
    5.5.2.2 United Kingdom
    5.5.2.3 France
    5.5.2.4 Italy
    5.5.2.5 Spain
    5.5.2.6 Rest of Europe
    5.5.3 Asia-Pacific
    5.5.3.1 China
    5.5.3.2 Japan
    5.5.3.3 India
    5.5.3.4 Australia
    5.5.3.5 South Korea
    5.5.3.6 Rest of Asia-Pacific
    5.5.4 Middle East & Africa
    5.5.4.1 GCC
    5.5.4.2 South Africa
    5.5.4.3 Rest of Middle East & Africa
    5.5.5 South America
    5.5.5.1 Brazil
    5.5.5.2 Argentina
    5.5.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 GE Healthcare
    6.1.2 Philips Healthcare
    6.1.3 Siemens Healthcare
    6.1.4 Cerner Corporation
    6.1.5 Allscripts Healthcare Solutions Inc.
    6.1.6 Wipro
    6.1.7 Oracle Corporation
    6.1.8 IBM
    6.1.9 SAS Institute Inc.
    6.1.10 Dell Technologies Inc.
    6.1.11 Mckesson Corporation

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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