Worldwide Healthcare Information Technology (IT) Market Size 2018: Including Emerging Audience, Growth Opportunities & Current Industry Status Expected To Grow At A CAGR of 12.5% By 2025

Global Healthcare IT Market is expected to grow to USD 340.9 billion in 2024, from USD 131.0 billion in 2016 and, growing at a CAGR of 12.5% during the forecast period 2017 to 2024.
Healthcare information technologists are in charge of working inside strict legitimate and moral rules for the taking care of and capacity of private medicinal records, passage level positions require at least no less than a postsecondary declaration and finishing of an expert accreditation exam

Global healthcare IT market was valued at USD 90,373.80 million in 2017 and is projected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

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The major factors contributing to the growth of the market includes factors such as need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases. On the other hand, issues in information exchange, high installation & maintenance cost and lack of skilled expertise are hampering the market growth.

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Market is further segmented into:

  • Products & Services
  • End User

The global healthcare IT market is segmented on the basis of products & services into HCIT outsourcing services, healthcare provider solutions and healthcare payer solutions. In 2018, HCIT outsourcing services are expected to dominate the healthcare IT market with 45.4% market share growing at the highest CAGR in the forecast period 2018 to 2025. The healthcare provider solutions are further segmented on the basis of clinical solutions and non-clinical solutions.

The clinical solutions are further sub segmented into electronic health records medical image processing and analysis systems, picture archiving and communication systems, radiology information systems, laboratory information systems, vendor neutral archive, computerized physician order entry, clinical decision support systems, specialty management information systems, healthcare IT integration systems, practice management systems, radiation dose management and others.

The non-clinical solutions are also sub segmented into healthcare information exchange, revenue cycle management solutions, financial management systems, population health management solutions, medical document management solutions, pharmacy information systems, workforce management systems and healthcare analytics.

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The global healthcare IT market is segmented based on end users into providers and payers. In 2018, providers segment is estimated to rule with 83.8% shares and will cross USD 234,006.24 million by 2025, rising at the highest CAGR in the assessment period. Providers are dominating the healthcare IT market as it highly utilizes the IT healthcare solutions to manage its organizations data.

Providers are further sub segmented into hospitals, home healthcare, diagnostic centers, ambulatory surgical centers and pharmacies. Payers are further sub segmented into public and private.

The global healthcare IT market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

Based on geography, the market is segmented into 5 geographical regions:

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

 Covered in this report

The report covers the present scenario and the growth prospects of the global healthcare IT market for 2018-2025. To calculate the market size, the report considers the revenue generated from the sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and doing in-depth company share analysis of major 10 players in the market.

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The key market players for global healthcare IT market are listed below:    

  • Epic Systems Corporation
  • McKesson Corporation
  • Cerner Corporation
  • Allscripts
  • Carestream Health
  • Siemens AG
  • Agfa-Gevaert Group
  • athenahealth, Inc.
  • eClinicalWorks 
  • GE Company
  • Greenway Health, LLC
  • Infor
  • Koninklijke Philips N.V.
  • NextGen Healthcare
  • Oracle Corporation
  • Practice Fusion, Inc. 

Why purchase this report?

  • Visualize the composition of the Healthcare IT market across each indication, in terms of type and applications, highlighting the key commercial assets and players.
  • Identify commercial opportunities in Healthcare IT by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of the Healthcare IT market level 4/5 segmentation
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
  • Product mapping in excel for the key Healthcare IT products of all major market players.

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Related Report

North America Healthcare IT Market – Industry Trends and Forecast to 2025

North America Healthcare IT Market, By Products & Services (HCIT Outsourcing Services, Healthcare Provider Solutions {Clinical Solutions, Non-Clinical Solutions}, Healthcare Payer Solutions), By End User (Providers, Payers),By Geography (U.S., Canada, Mexico) – Industry Trends and Forecast to 2025

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