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Healthcare IT Market Report 2019 with Comprehensive Competitors Study By Siemens, Oracle Corporation, Nextgen Healthcare, McKesson, Allscripts, Cerner Corporation and others

05-13-2019 02:29 PM CET | Health & Medicine

Press release from: Data Bridge Market Research

Healthcare IT Market Report 2019 with Comprehensive

The major factors contributing to the growth of the market includes factors such as need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases. On the other hand, issues in information exchange, high installation & maintenance cost and lack of skilled expertise are hampering the market growth.
For generating the healthcare IT report; various steps for gathering, analysing and recording the data and information are used. When globalization is at its peak, businesses seek to take advantage of the global market for marketing and selling their product where such global market report helps them in the journey of achieving success globally. This market report provides historical data along with future forecast and detailed analysis for the market on a global and regional level. Furthermore, the healthcare IT market research report deeply analyses the potential of the market with respect to current scenario and the future prospects by taking into account numerous industry aspects.
This healthcare IT report gives important, thoughtful and meaningful market insights for your business by taking into account various factors. Commitment and deadline are strictly followed while generating or delivering this or other market reports to the clients. What is more, healthcare IT report provides the data and information for actionable, most recent and real-time market insights which makes it straightforward to even take critical business decisions. This global market report provides CAGR value fluctuation during the forecast period of 2019-2025 for the market that helps in estimating investment and costing.

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Market Analysis:
Global Healthcare IT Market was valued at USD 90,373.80 million by 2017 and is projected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Key Competitors:
Epic Systems Corporation is going to dominate the global healthcare IT market followed by:
•Siemens
•Oracle Corporation
•Nextgen Healthcare
•McKesson
•Allscripts
•Cerner Corporation
•Carestream
•View Cerner
•Carestream Health and More

Key Drivers:
Some of the major factors driving the market for global healthcare IT market are need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases.
Issues in information exchange, high installation & maintenance cost and lack of skilled expertise for healthcare IT hampering the growth of the market.

Key Points:
Epic Systems Corporation is going to dominate the global healthcare IT market followed by McKesson Corporation, Cerner Corporation, Allscripts, Carestream Health and Siemens AG.
 The HCIT outsourcing services segment is dominating the global healthcare IT market.
 Medical image processing and analysis systems segment is expected to grow with the highest CAGR in the forecast period 2018 to 2025.

NEED FOR PAPER LESS TECHNOLOGY
Healthcare IT is the area of information technology that involves the design, development, creation, use and maintenance of information systems for the healthcare industries and other healthcare providers. It supports health information management across computerized systems and the secure exchange of health information between consumers, providers, payers and quality monitors. With the utilization of electronic health records (EHRs) use of information technology (IT) is increasing in healthcare sector.

Earlier the data was handled and recorded manually. Growing prevalence of numerous diseases with the rising population led to improper management and several errors. Data safety was also one of the major concerns in manually handled data. The IT healthcare is enabling and offering all possible means of intense shortfalls in the existing healthcare records systems all across the world, this can be solved which will allow information to be readily communicated and shared among healthcare providers that has been advocated as a means of improving quality of care and helping to control healthcare costs over the long term.

Digitisation is helping to simplify the working lives of healthcare specialists with the paperless technology. It helps to reduce the time spent on administrative tasks and checking through paperwork. There are several companies that are building advanced systems to support paperless working practices and the fast-growing universe of digital clinical and patient data.

INCREASING GOVERNMENT INITIATIVES ON HEALTHCARE IT SECTORS
Various healthcare IT related government initiatives have been launched by the government of different countries such as India, China, Japan and others, that has a clear vision to deliver better health outcomes.

Below are few initiatives taken by government in HCIT sector:
 According to the National Health Portal, gateway of authentic health information some of the e-Health initiatives have been taken by Indian government such as NHP Indradhanush-Immunization, NHP Swasth Bharat, India Fights Dengue, E-RaktKosh initiative ans ANM Online application- "ANMOL". This National Health Portal, India aims to provide healthcare related information to the citizens of India and it will serve as a single point of access for combined health information. Mainly women and children have been focused in these initiatives.

 The government of India, Ministry of Health and Family Welfare (MoHFW) has started e-Gov initiatives in the health care sectors in India. It named it as eHealth division. The e-Health broadly interprets the use of information and communication technology (ICT) in the healthcare sector. This initiative promises to deliver better health outcomes by:
• Access
• Quality
• Low Cost
• Reducing Disease Burden
• Efficient monitoring of health claims to citizens

ADOPTION OF CLOUD SERVICES
Many of the healthcare organisations have not yet adopted technology entirely in their locations, their primary focus has been on automation of back office systems, payment and reimbursement, digitisation of medical records, and business intelligence for regulatory compliance and accreditation. The cloud services can help the healthcare organisations to reduce capital expenditure and leveraging existing assets, controlling ongoing development, delivery and operations costs, increasing the speed and flexibility of developing and providing new services in healthcare information sector and efficiently managing the customer relationships over the cloud such as billing and other services.
The cloud computing also provides services for patients, to easily share information, to advance operational efficiency and to simplify costs. The cloud based tools are highly efficient with the speed as it enables faster access to important information for health services providers and their patients. The cloud computing providers take care of hardware infrastructure and maintenance which lowers the cost of health care institution and doctors in investing. All these advanced features are increasing the adoption rate of cloud services.
According to Forbes, an article published in the 2017 State Of Cloud Adoption And Security, in the last year the hybrid cloud adoption grew 3times, increased from 19.0% to 57.0% of organizations surveyed. It also reports that 80.0% of all IT budgets will integrate to the cloud solutions in upcoming 15 months. Its study also reports that 73.0% of companies forethought to be a fully software-defined data centre within 2 years.

Get Detailed TOC https://databridgemarketresearch.com/toc/?dbmr=global-healthcare-it-market

Global Healthcare IT Market Segmentation:-
The global healthcare IT market is segmented on the basis of products & services into
• HCIT outsourcing services
• healthcare provider solutions
• healthcare payer solutions

In 2018, HCIT outsourcing services are expected to dominate the healthcare IT market with 45.4% market share and growing at the highest CAGR in the forecast period 2018 to 2025. The healthcare provider solutions are further segmented on the basis of clinical solutions and non-clinical solutions.

The clinical solutions are further sub segmented into:-
•electronic health records medical image processing and analysis systems,
•picture archiving and communication systems,
•radiology information systems,
•laboratory information systems,
•vendor neutral archive, computerized physician order entry,
•clinical decision support systems,
•specialty management information systems,
•healthcare IT integration systems,
•practice management systems,
•radiation dose management and others.

The non-clinical solutions are also sub segmented into:
•healthcare information exchange,
•revenue cycle management solutions,
•financial management systems,
•population health management solutions,
•medical document management solutions,
•pharmacy information systems,
•workforce management systems
•healthcare analytics.
The global healthcare IT market is segmented based on end users into providers and payers. In 2018, providers segment is estimated to cross USD 234,006.24 million by 2025, rising at the highest CAGR in the assessment period.

Providers are further sub segmented into:
•hospitals,
•home healthcare,
•diagnostic centres,
•ambulatory surgical centres and pharmacies.
Payers are further sub segmented into public and private.

The global healthcare IT market is highly fragmented and the major players have used various strategies such as
•new product launches,
•expansions,
•agreements,
•joint ventures,
•partnerships,
•acquisitions,
•and others to increase their footprints in this market
Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East & Africa

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Data bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune. We ponder into the heterogeneous markets in accord with our clients needs and scoop out the best possible solutions and detailed information about the market trends. Data Bridge delve into the markets across Asia, North America, South America, Africa to name few.

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