Healthcare IT Market Growth Analysis 2016 - 2021 | Key Players McKesson Corporation,Epic Systems Corporation, Cerner Corporation, GE Healthcare, Philips Healthcare, athenahealth, Inc., Allscripts Healthcare Solutions, Inc., Oracle Corporation and Infor, I

According to the new market research report Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management, Claims Management) End User (Provider, Payer) - Global Forecast to 2021", published by MarketsandMarkets™,The healthcare IT market is projected to reach USD 280.25 Billion by 2021 from USD 134.25 Billion in 2016, at a CAGR of 15.9% during the forecast period.

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The majority of the demand for healthcare IT solutions is driven by the growing need to reduce healthcare costs while adhering to the regulatory requirements set by government organizations for ensuring safety, security, and confidentiality of patient information. The growing adoption of health information exchanges (HIEs) and EHR systems and improved quality of care and clinical outcomes are some of the other factors driving market growth. In addition to the growing demand for information technology solutions from healthcare providers, the growing need for healthcare insurance providers to efficiently manage a comprehensive record of claims and reimbursements is also expected to contribute to the growth of the global healthcare IT market during the forecast years.

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This report provides detailed market analysis of various healthcare IT solutions available in the market comprising healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. The healthcare provider solutions segment accounted for the largest share of the global healthcare IT market. Growth in this segment is attributed to the increasing demand for improved patient safety and patient care, stringent regulations regarding healthcare provider solutions, and need for integrated healthcare systems. The healthcare provider solutions segment is further categorized into clinical solutions and non-clinical solutions. EHR, PACS & VNA, mHealth applications, CPOE solutions, ePrescribing solutions, and population health management are some of the key clinical healthcare IT solutions covered in this report.

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On the basis of end user, the healthcare IT market is broadly segmented as healthcare providers and healthcare payers. The healthcare providers segment is further divided into hospitals; ambulatory care centers; home healthcare agencies, nursing homes, and assisted living facilities; diagnostic and imaging centers; and pharmacies.

The report also provides the detailed geographic analysis of healthcare IT markets covering major countries in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa regions. In 2015, North America accounted for the majority share of the global HCIT market followed by Europe and Asia-Pacific. The large share of this region can be attributed to the stringent legislative and accreditation requirements regarding healthcare, the high adoption rate of HCIT technologies in order to curtail the soaring healthcare costs, regulatory requirements regarding patient safety, and the presence of a large number of IT companies in the region. Europe is the second-largest healthcare IT market.

global Healthcare IT Market is largely fragmented in nature. Cerner Corporation (U.S.), GE Healthcare (U.S.), Allscripts Healthcare Solutions Inc, (U.S.), Philips Healthcare (Netherlands), and Epic Systems Corporation (U.S.) are some of the leaders in the clinical healthcare IT solutions market. Whereas, the non-clinical healthcare IT market is dominated by players such as Oracle Corporation (U.S.), Infor, Inc. (U.S.), SAP AG (Germany), McKesson Corporation (U.S.). While product innovations remain at the center of strategic growth initiatives from majority of the key vendors in the global healthcare IT market, these players are also focusing on increasing their presence in the high growth markets through expansions, strategic marketing and distribution agreements, and acquisitions. Currently, the Asia-Pacific countries are at the focus on geographic expansions from leading players in the global healthcare IT market.

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