SEATTLE, June 01, 2021, (MEDGADGET) — Overview:
Clinical Information Systems (CIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Aided Diagnosis (CAD), and other technologies and systems are used in IT-enabled healthcare.
The global IT-enabled healthcare market is expected to account around US$ 464.73 Bn in terms of value by the end of 2027.
Rising incidences of chronic diseases is expected to drive growth of the global IT-enabled healthcare market during the forecast period. For instance, in 2019, according to the American Cancer Society, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
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Furthermore, growing number of launches in IoT connected device platforms is also expected to propel growth of the global IT-enabled healthcare market over the forecast period. For instance, in June 2020, MedShift, a medical technology firm, has released version 3.0 of its IoT connected device platform, which offers device manufacturers an end-to-end solution for incorporating their purpose-built credit card-sized computer boards with encrypted private cellular SIM capabilities into any medical device line-up.
North America held a significant position in the global IT-enabled healthcare market in 2019, accounting around 39.0% share in terms of value, followed by Europe and Asia Pacific, respectively.
Lower internet access in emerging economies is expected to hamper growth of the global IT-enabled healthcare market over the forecast period. For instance, according to Pew Research Center (October 2019), Sub-Saharan Africa has a lower level of internet use over any other geographic region, ranging from a high of 59% in South Africa to a low of 25% in Tanzania.
Furthermore, higher cost of Radiology Information System (RIS) and Picture Archiving and Communication System (PACS) is also expected to hinder growth of the global IT-enabled healthcare market. For instance, conventional PACS systems can cost over US$ 5,000 to US$ 100,000.
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Major players in the global IT-enabled healthcare market is expected to pose growth opportunities due to cloud-based PACS are more widely adopted. On-demand self-help, large network connectivity, resource pooling, accelerated elasticity, and calculated service are all advantages of cloud-based PACS.
Furthermore, rising internet connectivity is also expected to drive growth of the global IT-enabled healthcare market. For instance, according to China government-backed Market Intelligence & Consulting Institute and reported by China Internet Watch, internet penetration in China reached 61.2 percent in the first half of 2019, with 854 million internet users at the end of June 2019.
The global IT-enabled healthcare market was accounted around US$ 187.7 Bn in 2019 and is forecast to reach a value of US$ 464.7 Bn by 2027 at a CAGR over 12.0% between 2020 and 2027.
Emergence of novel coronavirus is expected to driving growth of the global IT-enabled healthcare market over the forecast period. For instance, globally, as of June 2020, there have been 10,185,374 confirmed cases of COVID-19, including 503,862 deaths, reported to World Health Organization.
Furthermore, rising launches of pharmacy automation systems is also expected to drive growth of the global IT-enabled healthcare market. For instance, in February 2018, RxSafe, LLC launched RapidPakRx system, a modern digital strip packaging system for pharmacies in retail and health systems that allows for on-demand adherence packaging production.
- By Type:
- Software: Administrative Information Systems (AIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Assisted Diagnosis (CAD), Ancillary Information Systems, Others.
- Services: Tele-Health, Healthcare Diagnostics, Remote Patient Monitoring, Healthcare Education, mHealth.
- By End User:Public/Private healthcare institutions, Physicians, Healthcare workers, others.
Key players dominating in the global IT-enabled healthcare market such as, eHealth Technologies, McKesson Corporation, GE Healthcare, Aerotel Medical Systems, Ltd., Johnson and Johnson Healthcare Systems, Inc., E*HealthLine.Com, Inc., Siemens AG, AT&T Inc., Allscripts Healthcare Solutions, Inc., Apple, Inc., RxSafe, MedShift, LLC, Wellbeing Software, AirStrip Technologies LP. And Sectra.
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Key players in the global IT-enabled healthcare market are concentrating on adoption of collaboration strategies to increase their market share. For instance, in April 2020, Sectra, a medical imaging IT and cybersecurity firm, teamed up with Hospital for Special Surgery, an academic medical Centre focusing in musculoskeletal health, to combine an FDA-approved digital pathology imaging solution with a laboratory information system to allow integrated diagnostics between radiology and pathology.
Furthermore, in April 2020, Wellbeing Software collaborated with Behold.ai, through which the Behold.ai’s artificial intelligence-based red dot algorithm will be used with Wellbeing Software’s Cris, a RIS, for fast-track diagnosis of COVID-19 in U.K.
- Global IT-enabled Healthcare Market, By Type:
- Administrative Information Systems (AIS)
- Electronic Medical Record (EMR)
- Nursing Information Systems (NIS)
- Computer Assisted Diagnosis (CAD)
- Ancillary Information Systems
- Healthcare Diagnostics
- Remote Patient Monitoring
- Healthcare Education
- Global IT-enabled Healthcare Market, By End User:
- Public/Private healthcare institutions
- Healthcare workers
- Global IT-enabled Healthcare Market, By Region:
- North America
- Latin America
- Asia Pacific
- Middle East
- Company Profiles
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