Healthcare Information Technology Market Worth USD 549.95 Billion by 2027 - Exclusive Report by Emergen Research
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Increasing government initiatives to implement Healthcare Information Technology(HCIT)solutions in healthcare sector and growing preference for digital payments
VANCOUVER, BC, CANADA, May 19, 2022 /EINPresswire.com/ -- The global Healthcare Information Technology 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, 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.
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.
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Some Key Highlights
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.
Furthermore, the report provides a comprehensive overview of the Healthcare Information Technology 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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Market Dynamics:
The report offers insightful information about the market dynamics of the Healthcare Information Technology market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Healthcare Information Technology market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Healthcare Information Technology market.
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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
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 Information Technology market expected to boost the growth of the industry in the coming years.
Radical Highlights of the Healthcare Information Technology Market Report:
Comprehensive overview of the Healthcare Information Technology market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Healthcare Information Technology market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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The global healthcare IT market size reached USD 201.23 Billion in 2020
