Healthcare Information Technology (IT) Market by Leading Players McKesson Corporation (U.S.), United Healthcare Group(U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Athenahealth, Inc. (U.S.), Epic Systems Corporation (U.S.), GE Healthcare (UK), Cern

The global Healthcare IT or Healthcare Information Technology market was evaluated at $125 billion in 2015, and is estimated to reach $297 billion by 2022, with a CAGR of 13.2%. The Healthcare Information Technology solutions & services defined in this report automate, manage, and control the different tasks and processes in healthcare organizations. This market growth is attributed to the rising demand for patient safety & data accuracy, need to curtail healthcare cost, and implementation of various healthcare policies promoting the use of HCIT in healthcare facilities.

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The leading players in Healthcare Information Technology market have focused on expanding their presence in the Asia-Pacific region through expansions, acquisitions, and agreements. Thus, increasing investment by leading players in the region coupled with investments from central & local government agencies creates significant growth opportunities for Healthcare IT market. Key players profiled in this report include McKesson Corporation (U.S.), United Healthcare Group(U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Athenahealth, Inc. (U.S.), Epic Systems Corporation (U.S.), GE Healthcare (UK), Cerner Corporation (U.S.), Oracle Corporation (U.S.), Koninklijke Philips N.V. (The Netherlands), Infor, Inc. (U.S.), *Other players in the value chain include Wolters Kluwer, IBM, 3M health Information Systems, Conifer Health Solutions, Kronos Incorporated, Anthelio Healthcare Solutions Inc., Lexmark Healthcare, Orian Health, Wipro Technologies, CSI Healthcare IT, Syntel Inc., and Spok Inc.

This report covers the analysis of Healthcare IT market based on three categories: product type, end user, and geography. Based on product type, Healthcare Information Technology market is further classified into three types, namely healthcare provider solutions (clinical and non-clinical solutions), health care payer solutions (pharmacy analysis &audit, claims management, fraud management, computer-assisted coding systems, payment management, provider network management, member eligibility management, customer relationship management, medical document management, and others), and Healthcare IT outsourcing services (provider HCIT outsourcing services, payer HCIT outsourcing services, operational HCIT outsourcing services, and IT infrastructure management services).

Based on geography, the market is segmented into four major regions, namely, North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Asia-Pacific has a huge market potential for Healthcare IT industry. India and China are some of the rapidly growing countries, followed by South Korea. Consequently, the government in these rapidly developing economies have taken various efforts to improve healthcare services, and provide better infrastructure. In such cases, Healthcare IT acts as a bridge between all the healthcare entities, minimizes manual errors, and curbs expenses. Even though the Indian healthcare industry is expected to grow at an estimated CAGR of 24% during the forecast period. Although the Healthcare Information Technology industry in India is still at its nascent stage, the demand for Healthcare IT solutions is expected to increase during the forecast period due to increasing incidence of chronic disorders, improving healthcare infrastructure, and growing demand for better healthcare services

The Chinese government adopted healthcare IT informatization approach in the 1990s to promote IT development across all major sectors, including the healthcare sector. In 1995, the Chinese Government launched its first Healthcare Information Technology policy, "Golden Health Project," which sought to create the foundation for electronically linking health administration departments, healthcare organizations, and research institutes. The Ministry of Health in China has laid guidelines for HIT development in the region for the introduction and implementation of regional health information networks throughout the country. Thus, increasing demand for better healthcare, improving healthcare infrastructure, and government initiatives & investments are expected to drive the market in the Asia-Pacific region.

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