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Healthcare IT Market t Dynamics, Value Chain Analysis, Industry Events and Developments 2027

12-01-2021 03:01 PM CET | Health & Medicine

Press release from: Report Ocean

Healthcare information technology (IT) is an IT field that involves the creation, development, design, use, and maintenance of information systems for the healthcare industry. Automated and interoperable healthcare information systems are anticipated to improve medical care, reduce healthcare costs, increase efficiency, reduce error, and improve patient satisfaction, while optimizing reimbursement for ambulatory and inpatient healthcare providers.

The U.S. healthcare information technology (HCIT) market was evaluated at $61,018 million in 2017, and is estimated to reach $149,178 million by 2025, at a CAGR of 11.7% during the forecast period.

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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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The market experiences significant growth due to increase in demand for quality healthcare services and solutions, rise in acceptance of mHealth and telehealth practices, surge in demand for improved patient safety and patient care as well as upsurge in government initiatives to promote HCIT. However, high costs incurred for implementation, maintenance, and upgradation of services are anticipated to restrict the growth of this market.

Moreover, the healthcare IT is already a well-established market and thus, there is a huge supply and demand gap with many local as well as key players operating in this segment, which in turn is expected to hamper the market growth. Moreover, numerous key players have collaborated with local players to develop efficient products, which would provide lucrative opportunities for the market growth.

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The U.S. HCIT market is segmented based on product, end user, and geography. By product, the healthcare IT market is classified into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. Further, healthcare provider solutions segment is bifurcated into clinical solutions and non-clinical healthcare IT solutions.

Clinical solutions is further sub-segmented into electronic health records/electronic medical records, vendor neutral archives (VNA), computerized physician order entry (CPOE), clinical decision support systems (CDSS), radiology information systems (RIS), radiation dose management, specialty management information systems, medical image processing and analysis systems, healthcare IT integration systems, practice management systems, laboratory information systems, digital pathology solutions, mobile health solutions, and telehealth.

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Non-clinical healthcare IT solutions segment is divided into pharmacy information systems (PIS), medication management systems, healthcare asset management, workforce management systems (WFM), revenue cycle management solutions, medical document management solutions, financial management systems, healthcare information exchange (HIE), population health management solutions, supply chain management, healthcare analytics, and customer relationship management (CRM).

By end user, the healthcare IT market is bifurcated into healthcare providers and healthcare payers. The healthcare providers segment is further categorized into hospitals, ambulatory care centers, diagnostic and imaging centers, pharmacies, and others (home healthcare agencies, nursing homes, and assisted living centers). The healthcare payers segment is further classified into private payers and public payers. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA regions.

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Key Benefits For U.s. Healthcare IT Market :

The study provides an in-depth analysis of the U.S. healthcare IT market along with current trends and future estimations to elucidate the imminent investment pockets.
A comprehensive analysis of the factors that drive and restrict the market growth is provided.
A comprehensive quantitative analysis of the industry from 2017 to 2025 is provided to enable stakeholders to capitalize on the prevailing market opportunities.
An extensive analysis of the key segments of the industry helps understand the products and technologies used in the U.S.
Key market players and their strategies are provided to understand the competitive outlook of the market

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U.s. Healthcare IT Key Market Segments :

By Product Type
Healthcare Provider Solutions
Clinical Solutions
Electronic Health/Medical Records
Vendor Neutral Archive (VNA)
Computerized Physician Order Entry
Clinical Decision Support Systems
Radiology Information Systems
Radiation Dose Management Solution
Specialty Management Information Systems
Medical Image Processing &Analysis Solution
Healthcare IT Integration Systems
Practice Management Systems
Laboratory Information Systems
Digital Pathology Solutions
mHealth Solutions
Telehealth Solutions
Non-clinical Solutions
Pharmacy Information Systems
Medication Management Systems
Electronic Medication Administration Records Solution
Barcode Medication Administration Solution
Medication Inventory Management Systems
Medication Assurance Systems
Healthcare Asset Management
Equipment Management Systems
Patient Tracking and Management Solution
Temperature and Humidity Monitoring Solution
Workforce Management Systems
Revenue Cycle Management Solution
Admission Discharge Transfer/Registration
Computer Assisted Coding Systems
Patient Scheduling Solution
Patient Billing and Claims Management Solutions
Electronic Data Interchange Solution
Financial Management Systems
Medical Document Management Systems
Healthcare Information Exchanges
Population Health Management Solution
Supply Chain Management Solution
Procurement management
Inventory Management
Healthcare Analytics
Clinical Analytics
Financial Analytics
Operational and Administrative Analytics
Customer Relationship Management Solution
Healthcare Payer Solutions
Pharmacy Analysis and Audit Solution
Claims Management Solution
Fraud Management Solution
Computer-assisted Coding Systems
Payment Management Solution
Patient Billing Management Solution
Provider Billing Management Solution
Provider Network Management Solution
Member Eligibility Management Solution
Customer Relationship Management Solution
Medical Document Management Solution
Others (General Ledger & Payroll Management)
HCIT Outsourcing Services
Provider HCIT Outsourcing Services
Medical Document Management Services
Pharmacy Information Management Services
Laboratory Information Management Services
Revenue Cycle Management Services
Payer HCIT Outsourcing Services
Claim Management
Customer Relationship Management Services
Billing System
Fraud Detection
Operational HCIT Outsourcing Services
Supply Chain Management Services
Business Process Management Services
IT Infrastructure Management Services

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By End User

Healthcare Providers
Ambulatory Care Centers
Diagnostic & Imaging Centers
Others (Home Healthcare Agencies, Nursing Homes, and Assisted Living Centers)
Healthcare Payers
Private Payers
Public Payers

Key Players Profiled

Allscripts Healthcare Solutions, Inc.
Athenahealth, Inc.
Cerner Corporation
Epic Systems Corporation
Greenway Health LLC
IBM Corporation
McKesson Corporation
SAS Institute Inc.

The other players in the value chain include (profiles not included in the report) the following:

InterSystems Corporation
Medical Information Technology, Inc.
Evolent Health, Inc.
Experian Information Solutions, Inc.

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What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.

Reports on the market include the growth rates of each region, which includes their countries, over the coming years.

How are the key players in the market assessed?

This report provides a comprehensive analysis of leading competitors in the market.

The report includes information about the key vendors in the market.

The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.

The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.

A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market’s growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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