This market research report presents a detailed segmentation of the global healthcare IT market by application (IT services, IT telecommunications, internal IT, software, and hardware) and by geography (Americas, APAC, and EMEA). The leading vendors in this market are Allscripts Healthcare Solutions, GE Healthcare, McKesson, Oracle, and Siemens Healthcare.
Technavio’s market research analysts estimate the global healthcare IT market to grow at a CAGR of 7% between 2016 and 2020. The adoption of connected healthcare solutions such as electronic health record (EHR) and personal health record (PHR) has increased owing to the growing need to enhance the overall quality of healthcare services. The effective implementation of IT solutions in hospitals enables real-time monitoring of patients. Of late, several hospitals are outsourcing their IT requirements to service providers that reduce healthcare organization expenditure and streamline hospitals’ workflows. The Americas is the largest revenue-generating region in the global healthcare IT market, owing to rising adoption of mobile technologies in the healthcare sector.
The new market research report from Technavio provides a breakdown and analysis of the healthcare segments by technology.
“The cloud adoption in the healthcare industry is on the rise, owing to the need to minimize cost of in-house IT infrastructures. Cloud services require very minimal investment as service providers with expertise in storage manage servers and charge clients based on usage. Moreover, software experts offer cloud services which comply with strict government regulations with regard to data privacy and security,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research
The IT services segment is the largest in the healthcare IT market and expected to grow at a CAGR of just over 7% during the forecast period. Much of the focus is in areas like consulting, hardware maintenance and support, IT and process management, development and integration and software support. The need for better healthcare models will result in a higher demand for IT services in healthcare. The shift to cloud services is expected to free up funds to develop cost effective solutions and in turn, boost the growth of the healthcare IT market.
The leading vendors in the global healthcare IT market include Allscripts Healthcare Solutions, GE Healthcare, McKesson, Oracle, and Siemens Healthcare. The market is fragmented with the presence of many multinationals and small local vendors. There are quite a few region-specific companies with limited reach, and these are taken over by mergers. Major companies are focused on R&D so that they can introduce innovative products and services. With a rise in the need for remote healthcare, vendors are shifting their focus and trying innovations in the healthcare IT infrastructure so that products and services can be commercialized.
A more detailed analysis is available in the Technavio report, Global Healthcare IT Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Healthcare IT Spending – Market Analysis 2015-2019
- Global IT Spending in Remote Healthcare Delivery Market 2015-2019 – Market Research
- Global Big Data Spending in Healthcare Industry – Market Research 2015-2019
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