Rise in demand for telehealth and mHealth solutions from smartphone users, rapid adoption of cloud technology, increase in implementation of various healthcare reforms such as Patient Protection and Affordable Care Act (PPACA), and surge in geriatric population and chronic diseases are the major factors that drive the growth of the global healthcare IT market.
The global healthcare IT market was pegged at $141.45 billion in 2016 and is expected to garner $297.49 billion by 2022, registering a CAGR of 13.2% from 2016 to 2022.
Increase in demand for telehealth and mHealth solutions from smartphone users, adoption of cloud technology, rapid implementation of various healthcare reforms such as Patient Protection and Affordable Care Act (PPACA), and increase in geriatric population and chronic diseases are the major factors that drive the growth of the global healthcare IT market. However, increasing concerns regarding patient data safety & security hamper the market growth. On the contrary, rise in investment in the Asia-Pacific region is expected to create lucrative opportunities in the near future.
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The global healthcare IT market is divided on the basis of product type, end user, and geography. The product type segment is further classified into healthcare provider solutions, healthcare payer solutions, healthcare IT outsourcing services, and IT infrastructure management services. The healthcare provider solutions segment dominated the market in 2016, accounting for more than three-fifths of the market. Moreover, the segment is projected to register the fastest CAGR of 16.2% during the forecast period.
On the basis of end user, the market is divided into healthcare providers and healthcare payers. The healthcare providers segment held the largest share in 2016, contributing nearly three-fourths of the market. Moreover, the segment is estimated to portray the fastest CAGR of 14.2% during the forecast period.
The global healthcare IT market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2016, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is estimated to manifest the fastest CAGR of 15.3% during the forecast period.
The market report provides an in-depth analysis of the major market players such as United Healthcare Group, McKesson Corporation, Athenahealth, Inc., Allscripts Healthcare Solutions, Inc., GE Healthcare, Epic Systems Corporation, Oracle Corporation, Cerner Corporation, Infor, Inc., and Koninklijke Philips N.V.
Healthcare Information Technology Market Key Benefits
- The study provides an in-depth analysis of the Healthcare Information Technology market with the current trends and future estimations to reveal the imminent investment opportunities in market.
- The report provides a quantitative analysis for the period of 2014‐2022 to enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of the Healthcare Information Technology market by product, explains various types of product and HCIT solutions used by different healthcare organizations.
- Competitive intelligence highlights the business practices followed by leading market players across different geographical regions.
- Strategies of key market players (within the HCIT market), are profiled in this report, which predicts the competitive outlook of global Healthcare IT testing devices market.
Scope of the Report
| Report Attribute | Details |
| Market size available for years | 2014-2022 |
| Base year considered | 2015 |
| Forecast period | 2015-2022 |
| Forecast units | Value (USD) |
| Segments covered | By Product type, By End user |
| Geographies covered | North America, Europe, Asia-Pacifi, and LAMEA |
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