IT-enabled healthcare ecosystems are becoming a part of integrated health care systems, with stakeholders are leveraging the systems for patient-centered care, with cost and quality. In the last two decades, the IT-enabled healthcare market has evolved primarily on the back of the need for concurrently addressing the troika of access, cost, and quality. An assortment of IT-enabled healthcare paradigms have since emerged that drive healthcare to become more sustainable. Numerous developed economies, notably the U.S. and the U.K. have been fast to adopting healthcare IT systems to promote health and improve care delivery for their citizens. IT systems have also been a key enabler for improving surgical outcomes in particular and overall patient experiences in general. The IT-enabled healthcare market ecosystem brings various providers, payers, research fraternity, medical companies, and policy markers under one umbrella, all for the benefit of patient-centered value care.
The study on the IT-enabled healthcare market presents a detailed and data-driven insights into the recent technological advancements, major paradigms and trends, and avenues in various regions. The researchers strive to analyze the value chain and market investments that have driven these developments.
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IT-enabled Healthcare Market: Key Trends
The drive for IT-enabled healthcare market stems from the need for making healthcare more personalized to meet patients’ needs and expectations. The growing popularity of personalized healthcare ecosystem has been imparting a steady momentum to the expansion of avenues for stakeholders in the market. The burgeoning volumes of patients’ medical and healthcare data have also brought to the use of IT-enabled healthcare systems to the fore among the lifesciences industries. The growing paradigm of telehealth has boosted the potential of the IT-enabled healthcare market. Healthcare IT has also acted as a key enabler as well as accelerator for home care, thus enabling healthcare providers to meet the needs of aging populations.
Rise in incidence and prevalence of chronic diseases around the world, notably diabetics, is a key driver for making healthcare more patient-centered.
IT-enabled Healthcare Market: Competitive Assessment
In the last decade, both developed as well as fast emerging economies have seen spiraling investments in healthcare IT. A number of deals have been charted in the U.K. and the U.S. pertaining to the adoption of new care delivery models. The focus of proponents in the IT-enabled healthcare market has also been on patient engagement. Better patient engagement leads to empowering the patient population and enabling them to take an active part in their care.
An array of data analytics tools, such as predictive analytics, have been attracting investments by industry players in the IT-enabled healthcare. Players are also leaning on making electronic health records (EHR) more interoperable, which would enable them to better harness healthcare IT system. In general, payers, providers, and medical tech firms have upped their stakes in the IT-enabled healthcare market.
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Some of the prominent industry names in the IT-enabled healthcare market are;
- Apple, Inc.
- GE Healthcare
- Wellbeing Software
- RxSafe, LLC
- Allscripts Healthcare Solutions, Inc.
- AT&T Inc.
IT-enabled Healthcare Market: Regional Assessment
On the region front, North America and Europe have seen vast revenue potential being harnessed by industry players in the global IT-enabled healthcare market. Their initiatives are supported by favorable policy frameworks by the respective governments in the numerous countries in these regions. Further, a number of high-profile healthcare technology deals have taken in these regions, underscoring the high lucrativeness of these regional markets.
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