The global healthcare IT outsourcing market has registered a significant rise over the last decade. The cost-efficiency these outsourcing solutions offer to healthcare providers, as well as payers, has increased their adoption across the world in the recent times. The growing need for an enhanced level of IT convergence with reduced costs, improved productivity, and a higher level of patient satisfaction is likely to drive their demand substantially over the coming years.
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This report provides an analysis of the global healthcare IT outsourcing market for the period 2013 – 2023, wherein the period from 2015 to 2023 comprises the forecast period and 2014 is the base year. Data for 2013 is provided as historical information. The report covers all the major trends and technologies playing a major role in the growth of the healthcare IT outsourcing market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market growth during the said period. The study provides a holistic perspective of the growth of the healthcare IT outsourcing market throughout the forecast period in terms of revenue estimates (in US$ Bn), across different geographies, which include Asia Pacific (APAC), Latin America (LATAM), North America, Europe, and Middle East & Africa (MEA). The report provides a cross-sectional analysis of the global healthcare IT outsourcing market in terms of market estimates and forecasts for all the segments across different geographic regions.
The significant increase in the number of healthcare IT outsourcing market service providers has deepened the competition among them in recent years. Vendors are focusing on developing their own analytical platforms for improved patient data management and quality patient care systems in order to offer customized solutions to healthcare payers as well as providers, globally, notes Transparency Market Research in a new study.
Looking forward, unmet healthcare needs in emerging economies of Asia Pacific and the Middle East and Africa are expected to offer an opportunity-rich market to participants. As these regions boast of ample availability of skilled manpower, entering into strategic alliances with local companies will help major players to seize better shares in this market.
North America to Remain Market Leader, Asia Pacific to Report Fastest Rise
In spite of these hindrances, the worldwide market for healthcare IT outsourcing will report a tremendous rise in the coming years. According to TMR’s estimations, the opportunity in this market that stood at US$34 bn in 2014 and is likely to increase at a CAGR of 6.70% during the period from 2015 to 2023 and to touch a projected valuation of US$61.2 bn by the end of the forecast period.
North America emerged as the leader in 2014 with a share of more than 40% in the global market and is likely to remain dominant over the next few years. Asia Pacific, however, is projected to record the fastest rise at a CAGR of 10.50% between 2015 and 2023 among all the regional healthcare IT outsourcing markets.
Healthcare providers have surfaced as the leading end user of healthcare IT outsourcing across the world. However, the demand from healthcare payers is anticipated to exceed that of the former over the forecast period.
Among healthcare IT outsourcing applications, healthcare administration enjoys the highest demand at present. However, due to the increasing patient pool and the growing demand for quality care services, globally, the care management application is expected to witness the fastest growth rate in the coming years.
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