Healthcare IT Outsourcing Market Worth US$ 76.7 Billion by 2028 | Global Industry Trends

According to the latest research study by IMARC Group, "Healthcare IT Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The global healthcare IT outsourcing market size reached US$ 46.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.7% during 2023-2028.

Healthcare information technology (IT) outsourcing represents the process of hiring external service providers to manage, regulate, and mechanize operations in medical organizations. It includes services, such as medical transcriptions, virtual assistants, healthcare coding and billing, insurance claim, and customer support. In addition, healthcare IT solution is extensively used by healthcare providers, biopharmaceutical industries, and clinical research organizations (CROs) to address issues and follow up claim processes. The solution aids in increasing accuracy and productivity and minimizing errors. Consequently, it also gives access to trained professionals, improves patient care, ensures compliance, saves time, and safeguards patient data.

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Healthcare IT Outsourcing Market Trends and Drivers:

The elevating requirement for the reduction in healthcare costs across numerous countries and the widespread adoption of the solution to decrease costs and improve processes without sacrificing patient contentment within health systems are primarily augmenting the healthcare IT outsourcing market. Furthermore, the increasing incidences of chronic and lifestyle-based disorders and the escalating need for safety and confidentiality in patient information are positively influencing the global market. Apart from this, the rising usage of healthcare IT outsourcing in revenue cycle management (RCM), on account of the inflating operating costs of healthcare facilities as well as medical billing companies, is acting as another significant growth-inducing factor. Moreover, the increasing integration of artificial intelligence (AI) and machine learning (ML) to analyze data, streamline supply delivery and disinfection, suggest outcomes, and provide timely risk scores and precise resource allocation is also bolstering the market growth. Besides this, the growing utilization of the solution in the healthcare sector, owing to the COVID-19 pandemic, to provide accurate patient information and link patient records is expected to drive the healthcare IT outsourcing market in the coming years.

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Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Allscripts Healthcare Solutions Inc
• Dell Technologies Inc.
• Infosys Limited
• International Business Machines
• Koninklijke Philips N.V.
• Optum Inc. (UnitedHealth Group Incorporated)
• Siemens Healthineers AG
• Tata Consultancy Services
• Wipro Limited and Xerox Corporation.

The report has been segmented the market into following categories:

Breakup by Type:

• Payers HCIT Outsourcing
o Hospital Information System (HIS)
o Laboratory Information System (LIS)
o Radiology Information System (RIS)
o Electronic Medical Records (EMR)
o Others
• Providers HCIT Outsourcing
o Revenue Cycle Management (RCM) System
o Healthcare Analytics

Breakup by End User:

• Healthcare Provider System
• Biopharmaceutical Industry
• Clinical Research Organization
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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