Worldwide Healthcare IT Market Scenario:
Healthcare Information Technology (IT) is a vast field that applies IT for creating, designing, using, and maintaining the data systems in the field of healthcare. The market for healthcare IT is anticipated to grow at an immense rate due to the collective demand for improved healthcare facilities along with technological advancements in this field, globally.
It allows the exchange of health-related information electronically among numerous organizations. There are several wireless technologies available in the market such as Bluetooth, WLAN, WMAN, WWAN, zigbee technology, Radio Frequency Identification (RFID), and others. The growing need to manage regulatory compliance through healthcare IT solutions, the increasing need to curtail healthcare costs, government support for HCIT solutions, and high return on investment for HCIT solutions are the factors expected to drive the market over the forecast period. However, the high cost of deployment and reluctance among medical professionals to adopt advanced healthcare IT tools may constrain the market growth.
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The Global Healthcare IT Market owing to the use of healthcare IT solutions that reduces errors associated with healthcare facilities and lowers the cost of treatment thus improving the overall efficiency of the healthcare system. For instance, in July 2017, GE Healthcare decided to purchase clinical outcomes from a consulting firm, Novia Strategies.
The growing need to manage regulatory compliance through healthcare IT solutions, the increasing need to curtail healthcare costs, government support for HCIT solutions, and high return on investment for HCIT solutions are the factors expected to drive the market over the forecast period. However, the high cost of deployment and reluctance among medical professionals to adopt advanced healthcare IT tools may constrain the market growth.
Healthcare IT Market Key Players:
Some of the key players in the global healthcare IT market are Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), McKesson Corporation, (U.S.), Oracle Corporation (U.S.), Infor, Inc. (U.S.). Cognizant Technology Solutions Corporation (U.S.), athenahealth, Inc. (U.S.), Dell Technologies (U.S.), McKesson Corporation (U.S.), United Healthcare Group (U.S.), GE Healthcare (UK), Koninklijke Philips N.V. (The Netherlands), Wolters Kluwer (Netherland), IBM (U.S.), 3M health Information Systems (U.S.), Conifer Health Solutions (U.S.), Kronos Incorporated (U.S.), Anthelio Healthcare Solutions Inc. (U.S.), Lexmark Healthcare (U.S.), Orion Health (New Zealand), CSI Healthcare IT (U.S.), Syntel Inc. (U.S.), Spok Inc. (U.S.), and others.
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Healthcare IT Market Regional Analysis:
The global healthcare IT market consists of four regions, namely, the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas region accounted for the largest market share of the global healthcare IT market owing to the presence of high-quality healthcare systems and modern medical technology in the country.
The European healthcare IT market is the second largest market followed by Asia Pacific. As per the Medtech Media, over 31% of healthcare providers are using social media for professional networking. Healthcare providers across Europe are adopting social media technologies, and this is driving the European healthcare IT market.
The Asia Pacific region is expected to exhibit the fastest growth throughout the forecast period owing to the accelerated economic growth of countries in the region and the increasing need to control the soaring healthcare costs. These factors are also responsible for the emerging trend towards the digitization of patient records among healthcare organizations in this region.
Countries such as China and India are exhibiting rapid growth, followed by South Korea. Subsequently, the government in these developing economies have taken various efforts to mend the healthcare services and provide better infrastructure. In these circumstances, healthcare IT acts as a bridge that connects all healthcare entities, minimizes manual errors, and curbs expenses. Although the healthcare information technology industry in India is still at its nascent stage, the demand for healthcare IT solutions is expected to increase during the forecast period.
The Middle Eastern region is expected to grow at a steady pace owing to factors such as increasing occurrence of chronic disorders, improving healthcare infrastructure, and growing demand for better healthcare services.
Major TOC for Healthcare IT Market:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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