The Global Healthcare IT Integration Marketis anticipated to propagate at a strong CAGR of 10.2% &USD 3.73 Billion during the forecast period of 2016 to 2021.
Growth in Healthcare IT Integration Market is majorly driven by factors such as rising healthcare costs, strong government support and initiatives to curtail rising healthcare costs, the growing need to integrate healthcare systems, and efforts from healthcare providers to maximize their returns on investment. However, various interoperability issues, a fragmented end-users market, and the high cost of implementation still remain some of the challenges for greater adoption of integration tools within the healthcare industry, thus restraining the healthcare IT integration market growth.
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By 2021, North America is expected to account for the largest share of the global healthcare IT integration market, followed by Europe, Asia-Pacific, and RoW. However, markets in developed geographies like North America and Europe are expected to grow at lower CAGRs as compared to Asia-Pacific. This is because the Asia-Pacific region is characterized by favorable factors for market growth, such as rising healthcare awareness, presence of less stringent regulations, improving healthcare infrastructure, and increasing demand for quality healthcare at low costs.
In Healthcare IT Integration Market report, the healthcare IT integration industry is segmented based on solutions, applications, and regions. Based on solutions, the market is segmented into products and services. The healthcare integration products market is further bifurcated into interface/integration engines, medical device integration software, media integration solutions, and other integration tools. On the basis of services, the market is segmented into implementation services, support and maintenance services, and training services. During the forecast period, the interface/integration engines segment will continue to dominate the healthcare IT integration market.
Market Drivers of Healthcare IT Integration Industry:
- Integrated healthcare environment will enable healthcare providers to curtail healthcare costs
- Strong government support and initiatives
- Growing need to integrate healthcare systems
- Improvement in patient care and safety
Market Restraints of Healthcare IT Integration Industry:
- Interoperability issues
- High cost of healthcare IT integration
Market Opportunities inHealthcare IT Integration Industry:
- EHR market growth provides significant opportunities for integration
- APAC region offers huge potential for healthcare IT providers
Challenges in Healthcare IT Integration Industry
- Integration of healthcare IT solutions within healthcare organizations
- Data security concerns
The Major Players in the Healthcare IT Integration Market Include:
- Infor, Inc. (U.S.)
- InterSystems Corporation (U.S.)
- Cerner Corporation (U.S.)
- Orion Health (New Zealand)
- Quality Systems, Inc. (U.S.)
- Interfaceware, Inc. (Canada)
- Allscripts Healthcare Solutions, Inc. (U.S.)
- Epic Systems Corporation (U.S.
- Qualcomm Life, Inc. (U.S.)
- AVI-SPL, Inc. (U.S.)
- Corepoint Health (U.S.)
- Oracle (U.S.)
Healthcare IT Integration Market BY Region:
- North America
- Latin America
- The Middle East
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Infor, Inc. (U.S.) and Cerner Corporation (U.S.) are the major players in the healthcare IT integration market. In 2015, Infor, Inc. dominated the global healthcare IT integration market with its robust interface engine product offering and strong presence in more than 200 countries. Other leading players like Cerner Corporation (U.S.) Quality Systems, Inc. (U.S.) and InterSystems Corporation (U.S.) have a strong geographic presence with business operations in several geographies, including Europe, North America, Latin America, Asia, the Middle East, and Africa.
Reasons to Buy the Healthcare IT Integration Market Report:
The Healthcare IT Integration Market report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (Market Penetration, Product Development/Innovation, Market Development, Market Diversification, and Competitive Assessment) for reaping a greater market share.
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Healthcare IT Integration Market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the healthcare IT integration market. The report analyzes the healthcare IT integration market by solutions, and applicationsacross all regions.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the healthcare IT integration market.
- Market Development: Comprehensive information of the lucrative emerging markets by solution, application, and geography.
- Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the global healthcare IT integration market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of the leading players in the global healthcare IT integration market.
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