Increase in government initiatives to implement healthcare information technology (HCIT) solutions in the healthcare industry and growing preference for digital payments
— Emerging research
VANCOUVER, BC, CANADA, May 19, 2022 /EINPresswire.com/ — The Global Healthcare Information Technology Market the size reached USD 201.23 billion in 2020 and is expected to be valued at USD 549.95 billion in 2027 and register a stable CAGR during the forecast period, according to the latest analysis from Emergen Research. This steady growth can be attributed to the increase in government initiatives to implement health information technology (HCIT) solutions in the healthcare sector in developing countries and the preference for digital payments in the health sector.
The adoption of paperless technology and solutions in the healthcare sector has increased rapidly over the past few years, which is expected to further drive the growth of the global healthcare IT market over the forecast period. High cost of deployment and maintenance of healthcare IT solutions are key factors that are expected to limit the deployment and hamper the growth of the global healthcare IT market to some extent.
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The report further offers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers the strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches and brand promotions, among others. The report aims to provide readers with a comprehensive understanding of the relevant characteristics of the industry.
Key Players profiled in the report are:
Cerner Corporation, Oracle Corporation, Epic System Corporation, SAP SE, NextGen Healthcare Inc., Cognizant Technology Solutions, Wipro Limited, Tata Consultancy Services Limited, Dell Technologies Inc. and Allscripts Healthcare Solutions, Inc.
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A few highlights
In January 2021, the American Hospital Dubai – which is a division of the Mohamed & Obaid Al Mulla group – in collaboration with the multinational digital health company Cerner Corporation, announced the very first discoveries of one of the prototypes of its laboratory of artificial intelligence (AI) data. The lab serves as a model in the region for developing clinically focused AI techniques with validated predictive model results to support the healthcare industry.
The deployment of healthcare IT services has increased rapidly as the services provided include maintenance and technical support, which is driving the revenue growth of the service segment to a large extent.
Due to improved data and information security, the deployment of on-premises IT healthcare solutions is increasing, which is expected to continue supporting the on-premises segment’s revenue growth during the forecast period.
Additionally, the report provides a comprehensive overview of the Healthcare Information Technology market along with the product portfolio and market performance. The report offers key insights on market share, supply chain analysis, supply and demand relationship, import/export details, and product and consumption patterns. For better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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The report offers insightful insights into market dynamics of the Healthcare Information Technology Market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Healthcare Information Technology market, competitive landscape, factors affecting it and to predict the growth of industry. It also offers the impact of various market factors along with the effects of regulatory framework on the growth of the Healthcare Information Technology market.
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Emergen Research has segmented the global healthcare IT market on the basis of components, delivery, application, end use, and region.
Components Outlook (Revenue, USD Billion; 2017-2027)
Delivery Outlook (Revenue, USD Billion; 2017-2027)
On the site
Application Outlook (Revenue, USD Billion; 2017-2027)
Electronic prescription system
Laboratory information system
Computerized supplier order entry system
Electronic health records
Picture Archiving and Communication System
Radiological information system
Vendor Independent Archives
Revenue cycle management
Customer relationship management
The analysis of the segments and their growth projection is carried out by historical and current in-depth analysis of the market scenario. In addition, the report provides details about the factors and characteristics of the Healthcare Information Technology market that are expected to drive the growth of the industry in the coming years.
Radical Highlights Of Healthcare Information Technology Market Report:
Comprehensive overview of the Healthcare Information Technology market along with an analysis of changing market dynamics
Assessing the growth of various market segments throughout the forecast period
Regional and global analysis of market players including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of Technological Developments and R&D Advancements on the Healthcare IT Market
Information on money-making strategies and development strategies of major companies and manufacturers
Relevant information for new entrants wishing to enter the market
Details and information on business expansion strategies, product launches and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s five forces analysis, feasibility analysis, and investment return analysis.
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting firm with an extensive knowledge base on cutting-edge and potentially market-disrupting technologies that are expected to become more prevalent over the next decade.
Global health IT market size reached USD 201.23 billion in 2020