The healthcare industry is witnessing rapid technology enabled changes. Doctors and Physicians are leveraging digital technology to deliver better healthcare services and create effective system across the healthcare value chain. Healthcare information technology is expected to grow at a robust rate during the forecast period creating substantial opportunity for players across world. Emergence of various lifestyle and therapeutic application based apps has also boosted the market. Though the industry is expected to witness upward trajectories, industry leaders might face stiff competition from new entrants as well as changing technology dynamically. The industry leaders need to keep abreast with technology to differentiate them from rest.
At present, the information technology has become an integral part of the healthcare settings or infrastructures as it help address the requirements of today and be prepared for tomorrow. Modern high-tech hospitals and other healthcare settings make available a unified matrix of patient records, imaging results as well as his medical history and related information. The healthcare (HC) IT services, which is provided by a range of global HC solution and service providers help furnish the right information at the right place at the right time. Therefore, healthcare information technology solutions and services help enable improved patient care with superior hospital management.
Process Execution and emergence of healthcare apps has drastically boosted healthcare information technology in last few years
Healthcare information technology is gaining prominence across the world owing to its added advantages including better access to patient information. Introduction of social media platform along with handy mobile devices has bridged the gap between payers and providers. Moreover, big data concept has led chained hospitals to understand the patient in more logical way thereby driving the market to its high potential.
Increasing number of surgical interventions, rising demand for improved healthcare services, demand for high-tech hospitals and clinics and increasing patient population would further boost the healthcare IT services market globally. Demand for improved healthcare services are increasing due to increasing incidences of chronic health issues, such as hypercholesterolemia, diabetes and rising number of infectious diseases and rising geriatric population of the world.
Coherent Market Insights has segmented the industry into:
- By Application
- By End-use
- By Services
By end-use, healthcare information technology services can be categorized into four major segments – hospitals, laboratories, pharmacies, and other healthcare institutions.
On the basis of platform, healthcare information technology market is segmented into on-premise, web-based, and cloud based servers.
On the basis of services, healthcare information technology services are segmented as:
- Medical Imaging Professional Services
- Revenue Cycle Management Services for Hospitals
- Accountable Care Organization Services
- Document Management Services
- Business and Regulatory Support Services
- Managed Services
- Point-of-care Decision Support Services
- Evidence-Based Decision Support Services
- Ordering and Inventory Management Services
- Homecare & Hospice Support Services
- Medical Billing and Coding Services for Physicians
- Practice Consulting Services
- Patient Care Solutions & Services
- Other Medical-Surgical-Laboratory Services
Need for integration of payers and provider to optimize cost and service efficiency is expected to reshape the healthcare IT industry in North America
Geographically, North America accounted for the largest market for healthcare information technology services followed by Europe. These regions dominate the overall healthcare IT services market owing to presence of healthcare infrastructure. However, Asia Pacific is expected to be the most lucrative market for different healthcare IT services due to the improving healthcare awareness, rise in healthcare expenditure, booming IT industry and patient demographics. Asia Pacific is mainly driven by China and India. As per the estimates, China and India are expected to account for over 50% of regional market by 2024.
Healthcare information technology services market is consolidated with leading players accounting for major share of the market
Some of the major players operating in the healthcare IT services market include, Carestream Health, Inc., Epic Systems Corporation, Cerner Corporation, GE Healthcare, McKesson Corporation, NextGen Healthcare Information Systems, LLC, Philips Healthcare, Merge Healthcare Incorporated, Agfa HealthCare NV, and Siemens Healthcare among others.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. Our client base includes players from across all business verticals in over 150 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We offer both customized and syndicated market research reports that help our clients create visionary growth plans to provide traction to their business. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele. Our global team of over 100 research analysts and freelance consultants provide market intelligence from the very molecular country level and also provide a global perspective of the market. Our team is of the most vital cog in our robust machinery that gives us the ability to deliver independent insight relying on our cognitive defusion training module.This allows for an objective and unbiased assessment of the market. We pride ourselves in my constantly striving to update our extremely in-depth understanding of the market by closely monitoring and analyzing markets, trends, and emerging best practices, across allfathomable industries under the sun. This enables us to equip our valued clientele with key decisive inputs to capitalize on lucrative growth opportunities in the market and to follow firmly position themselves on a high growth path in the future.