Global Healthcare IT Market 2020 To Expand At A CAGR Of 15.8% By McKesson Corporation, Cerner Corporation, Allscripts, Carestream Health and Siemens AG.

Healthcare IT market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 15.8% in the forecast period of 2020 to 2027 and expected to reach USD 375,534.60 million by 2027. Increasing digitization in the healthcare industry and demand for value based care is a driving factor for the market growth.

Healthcare IT research report takes into consideration several industry verticals such as company profile, contact details of manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company. Healthcare IT market research report bestows with the strength to any kind of business whether it is large, medium or small for surviving and succeeding in the market. Businesses can confidently use the data, statistics, research, and insights about the market covered in this report to make decisions about business strategies and to achieve maximum return on investment (ROI).

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New Healthcare IT Market Developments in 2019

In October 2019, Mastercard announced the launch of healthcare solution. This will target technology platform used by both payer and provider by improving the biometrics and behavioral analytics to protect healthcare information from being hacked.
In 2018, JPI Healthcare announced the launch of NEW Longtail DR flat panel detector that will help to showcase X-ray grids and full spine DR detector, also provide digital healthcare solutions.

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.

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.

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Market Segmentation:?Global Healthcare IT Market?

The global healthcare IT market is segmented on the basis of products & services into HCIT outsourcing services, healthcare provider solutions and 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 and 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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