Growth at a CAGR of 7.32% in the Healthcare IT Outsourcing Market during the forecast period, 2018 to 2023| Dominant Vendors - IBM, ORACLE, CERNER, MCKESSON, PHILIPS HEALTHCARE, SIEMENS HEALTHCARE, ACCENTURE, TATA CONSULTANCY SERVICES, DELL, INFOSYS, amon

Market Analysis:

North America to Dominate the Market
The market is dominated by North America with the largest share particularly due to high number of healthcare companies, highly innovative and unique requirements. Presence of skilled professionals for managing big data and growing population is covered under insurance policy as per HIPPA Act.

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The adoption of IT is increasing in the healthcare industry, however, requires specific infrastructure to handle the amount of data that is collected and processed using such methods. Storing healthcare data is a tedious task because of amounts of data being generated every fraction of a second. Moreover, maintaining integrity of the data is a challenging job in itself in the modern era of cybercrime. Moreover, the devices that aid healthcare IT come with large investments for installment and incur maintenance costs this makes IT outsourcing in these settings a better option. This drives the growth of the Healthcare IT outsourcing market. Additionally, Increased patient-centric & value- based approach in healthcare, shortage of In-house properly trained IT professionals, Government's focus on introducing IT in healthcare, and Reduction in operational cost and healthcare cost are also driving Healthcare IT Outsourcing Market.

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Market Segments
Healthcare IT Outsourcing Market is segmented by:
1. END USER: HEALTHCARE, PHARMACEUTICALS, BIOTECHNOLOGY, RESEARCH, OTHERS
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• April 2017: Infosys Launched Infosys Nia - The Next Generation Integrated Artificial Intelligence Platform.
• June 2017: Accenture Introduced New Analytics Capabilities in the Accenture Life Sciences Cloud for R&D .
• March 2017: Oracle Health Sciences unveiled Oracle Health Sciences Data Management Workbench Cloud Service that promises to lower the cost and increase the traceability of clinical development by streamlining end to end clinical data flow across clinical R&D.

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