Healthcare IT Market Predicted to Reach USD 324.9 Billion By 2026 Top Key Players: Afga Gevaert Group, Novarad Corporation, GE Healthcare, Allscripts Healthcare Solutions, Inc., Mckesson Corporation, Philips Healthcare, Cerner Corporation, Hewlett-Packwar

Global healthcare IT market size estimated to reach at USD 324 billion by 2026 from USD 96.2 billion in 2017, grow at a CAGR of 12.9% during the forecast period.

The major key players in the market include Afga Gevaert Group, Novarad Corporation, GE Healthcare, Allscripts Healthcare Solutions, Inc., Mckesson Corporation, Philips Healthcare, Cerner Corporation, Hewlett-Packward, Oracle Corporation, Optum Inc., and E-MDS Inc.

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Healthcare IT, is an application of information technology in healthcare industry. It manages the health information with the computerized systems and secures the exchange of information between payers, and providers. Health information technology also refers to the use of various tools by physicians, nurses, health administrations, pharmacies, doctors and other healthcare providers. However, healthcare IT even today is facing fundamental challenges such as limited access to health service with improved quality of care and controlled implementation cost.

The global healthcare IT market is primarily driven by increased government support & spending on healthcare IT solutions, rising need for managing health data at a single platform, and rising death incidences in hospitals due to medical errors. Moreover, increasing adoption, and reduced healthcare treatment cost would also spur this market in the forecast period.

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Polaris Market Research provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the global healthcare IT market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., and Canada. Europe is divided into Germany, UK, Italy, France, and Spain. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Key Take-away

• Based on product & service type, Healthcare Provider Solutions dominates the market in 2017.

• Service market holds the major share for the HCIT components market in the forecast period.

• On the basis of end users, the hospitals segment was the leading segment in terms of revenue and would continue to do so in the forecast period.

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Market Segmentation

By Product & Service

• Healthcare Provider Solutions

o Clinical Solutions
o Non-Clinical Solutions

• Healthcare Payer Solutions

o Patient Administration System (PAS)
o Facility Management Services (FMS)
o Member Eligibility Management Solutions (MEMS)
o Billing Accounts & Management Solutions (BAMS)
o Customer Relationships Management Solutions (CRMS)
o Population Health Management Solutions (PHMS)
o Claim Managements Solutions (CMS)
o Others

By Components

• Hardware
• Software
• Service

By End users

• Healthcare Payer
• Health Provides
• Others

By Geography

• North America

o U.S.
o Canada

• Europe

o UK
o Germany
o France
o Italy
o Spain

• Asia-Pacific

o China
o Japan
o India
o Australia

• Latin America

o Brazil
o Mexico
o Rest of Latin America

• Middle East & Africa

o South Africa
o Rest of Middle East & Africa

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