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Healthcare IT integration Solutions Market is projected to reach USD 5.3 billion by 2024 from USD 3.1 billion in 2019, at a CAGR of 10.9%

03-31-2020 07:11 PM CET | Health & Medicine

Press release from: ReportsnReports

"The healthcare IT integration solutions market is projected to grow at a CAGR of 10.9%."

The global healthcare IT integration solutions market is projected to reach USD 5.3 billion by 2024 from USD 3.1 billion in 2019, at a CAGR of 10.9% during the forecast period. The market for HCIT integration solutions is primarily driven by the increasing need for integration owing to the rising healthcare costs and the growing volume of data generated in healthcare systems. The need to improve patient safety and the favorable government and private support for HCIT will also contribute to market growth. However, the high costs of HCIT integration will hinder the overall adoption of solutions and thereby restrain market growth in the coming years.

"In 2018, the interface/integration engines segment accounted for the largest share of the market."

On the basis of type, the interface/integration engines segment accounted for the largest share of the healthcare IT integration products market in 2018. The large share of this segment can be attributed to the increasing need for information exchange within healthcare service provider facilities or with other affiliated organizations. Furthermore, the emergence of health information exchange (HIE) backed by government initiatives to promote integrated healthcare infrastructure also support the growth of this market.

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"In 2018, the support & maintenance services segment accounted for the largest share of the market."

On the basis of type, the support & maintenance services segment accounted for the largest share of the healthcare IT integration services market in 2018.Healthcare providers prefer outsourcing their healthcare IT support & maintenance needs to either healthcare IT integration solution vendors or third-party support & maintenance service providers to focus on their core business areas.

"APAC is projected to witness the highest growth during the forecast period."

The APAC market is estimated to register the highest CAGR during the forecast period. The growth in this market can be attributed to the presence of less-stringent regulations, increasing demand for quality healthcare at low costs, and improving healthcare infrastructure in several APAC countries.

The breakdown of primary participants was as mentioned below:

By Company Type:Tier 1-35%, Tier 2-45%, and Tier 3-20%
By Designation:C-level-40%, Director Level-35%, and Others-25%
By Region:North America-35%, Europe-28%, Asia Pacific-20%,Latin America-10%, Middle East & Africa-7%

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The leading players in this market include Infor (US), Inter Systems Corporation (US), Cerner Corporation (US), Orion Health (New Zealand), NextGen Healthcare Inc. (US), iNTERFACEWARE, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), AVI-SPL, Inc. (US), Corepoint Health (US), and MEDITECH (US).

Research Coverage:

The report analyzes the various healthcare IT integration solutions and their adoption pattern. It aims at estimating the market size and future growth potential of the healthcare IT integration solutions market for different segments such as product & service,end user,and region. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

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Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help the magner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market.

About Us: Market Research Reports is an aggregator of syndicated market research studies that offer current and future market intelligence across multiple industrial verticals through is high quality database. Additionally, with help of our sales and research experts focus, Market Research Reports aims to help you take business decisions accurately and on time, every time. Understanding your time constraints, we can help you find the most relevant research based on the requirements you share with us. Our customers get 24 X 7 email and phone support.

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