North America Healthcare Information Technology (IT) Market is Valued at USD 34.3 Billion at a CAGR of 16.17% During the Forecast Period 2028

A wide-reaching North America Healthcare Information Technology (IT) Market research report brings into focus the key market dynamics of the sector. This market study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, distributors, and Porter's Five Forces Analysis. The report provides fluctuations in CAGR values during the forecast period of the market. The transformation in the market landscape is mainly observed due to the moves of key players or brands which range from developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry.

The healthcare information technology (IT) market is expected to witness market growth at a rate of 16.17% in the forecast period of 2021 to 2028 and is expected to reach USD 34.3 billion by 2028. Data Bridge Market Research report on healthcare information technology (IT) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the aviation sector is escalating the growth of healthcare information technology (IT) market.

Healthcare information technology, often known as healthcare IT, is an area of information technology that deals with the development, design and maintenance of information systems in clinics, hospitals, and other healthcare institutions. Healthcare information technology reduces the risk of medical records being misplaced and allows healthcare practitioners to obtain patient health reports from a variety of places. Human errors can be reduced, clinical outcomes can be improved, better care coordination can be facilitated, healthcare practise efficiencies can be improved, and data can be tracked effectively with the healthcare IT market trends.

major factors that are expected to boost the growth of the healthcare information technology (IT) market in the forecast period are the upsurge in the use of big data and growing need to decrease escalating healthcare costs. Furthermore, upsurge in the adoption rate of telehealth, e-prescribing, mHealth, and other HCIT solutions due to COVID-19 and increase in the government mandates and support for healthcare IT solutions are anticipated to propel the growth of the healthcare information technology (IT) market. Moreover, increasing geriatric population, rise in the prevalence of chronic diseases and high return on investments involved with healthcare IT solutions is further estimated to cushion the growth of the healthcare information technology (IT) market. On the other hand, high costs associated with the deployment of HCIT solutions for small and medium sized hospitals, resistance from traditional healthcare providers and IT infrastructural constraints in emerging economies are projected to further impede the growth of the healthcare information technology (IT) market in the timeline period.

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North America Healthcare Information Technology (IT) Market Scope and Market Size

The healthcare information technology (IT) market is segmented on the basis of product and services, components, delivery mode and end-users. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

On the basis of product and services, the healthcare information technology (IT) market is segmented into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. Healthcare provider solutions are further sub-segmented into clinical solutions and non-clinical solutions. Clinical solutions are divided into PACS and VNA, e-prescribing system, computerized physician order entry, clinical decision support system (CDSS), electronic health record (EHR), specialty information management systems, patient engagement solutions, radiology information systems (RIS), radiation dose management solutions, medical image analysis systems, care management systems, mheath solutions, patient registry software, laboratory information systems, infection surveillance solutions, telemedicine, population health management solutions, HCIT integration systems, and practice management systems. Non-clinical solutions are divided into healthcare workforce management solutions, medical document management solutions, healthcare asset management solutions, pharmacy information systems, healthcare analytics, revenue cycle management solutions, healthcare information exchanges, medication management solutions, supply chain management solutions, healthcare interoperability solutions, customer relationship management solutions, financial management systems and healthcare quality management solutions. Healthcare payer solutions are further sub-segmented into claims management solutions, fraud analytics solutions, pharmacy audit and analysis solutions, member eligibility management solutions, provider network management solutions, population health management solutions, customer relationship management solutions, and payment management solutions. HCIT outsourcing services are further sub-segmented into provider HCIT outsourcing services, operational HCIT outsourcing services, payer HCIT outsourcing services, IT infrastructure management services. Provider HCIT outsourcing services are divided into revenue cycle management services, laboratory information management services, EMR/medical document management services and others. Operational HCIT outsourcing services are divided into business process management services, supply chain management services and others. Payer HCIT outsourcing services are divided into claims management services, billing and accounts management services, fraud analytics services, provider network management services, and others.

On the basis of components, the healthcare information technology (IT) market is segmented into services, software, and hardware.

On the basis of delivery mode, the healthcare information technology (IT) market is segmented into on-premise and cloud-based.

On the basis of end-users, the healthcare information technology (IT) market is segmented into providers and payers. Providers are further sub-segmented into ambulatory centers, diagnostic centers, home healthcare and assisted living centers, hospitals, and pharmacies. Payers are further sub-segmented into private payers and public payers.

Healthcare Information Technology (IT) Market Country Level Analysis

The healthcare information technology (IT) market is analysed and market size insights and trends are provided by country, product and services, components, delivery mode and end-users as referenced above.

The countries covered in the healthcare information technology (IT) market report are U.S., Canada and Mexico in North America.

US dominates the healthcare information technology (IT) market due to the strict legislative and accreditation demands related to healthcare. Furthermore, growing adoption rate of HCIT technologies and regulatory demands related to patient safety will further boost the growth of the healthcare information technology (IT) market during the forecast period.

The country section of the healthcare information technology (IT) market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

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Healthcare Infrastructure growth Installed base and New Technology Penetration

The healthcare information technology (IT) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for healthcare information technology (IT) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the healthcare information technology (IT) market. The data is available for historic period 2010 to 2019.

Competitive Landscape and Healthcare Information Technology (IT) Market Share Analysis

The healthcare information technology (IT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare information technology (IT) market.

The major players covered in the healthcare information technology (IT) market report are Allscripts Healthcare, LLC, Epic Systems Corporation, McKesson Corporation, Cerner Corporation, Siemens Healthcare GmbH, Carestream Health, Agfa-Gevaert Group, athenahealth, Inc., eClinicalWorks, GENERAL ELECTRIC, GREENWAY HEALTH, LLC., Infor, Koninklijke Philips N.V., NXGN Management, LLC, Oracle, Siilo, BigHealth, Vida Health, SWORD Health, NOVIGENIX SA, Lantum, BD, Bioaxis, Ada Health GmbH, among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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Customization Available: North America Healthcare Information Technology (IT) Market

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.

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