Healthcare IT Market

“Global Healthcare IT Market: Global Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2023-2028” provides a deep and thorough evaluation of the global Healthcare IT market. Healthcare information technology (IT) is concerned with the maintenance, development, and utilization of information systems in healthcare institutions. Some of the most commonly used IT tools in healthcare are electronic prescription services, electronic health records (EHR), master patient index (MPI), urgent care applications, and health-related smartphone apps. These devices regulate, manage, and mechanize operations in medical organizations. They also maintain records regarding patients' health information and deliver them to the doctors, patients, or their families. In addition, they offer an effective patient-centric approach to medical treatments and promote efficient communication between doctors, patients, and other concerned individuals. As a result, various healthcare IT solutions, such as laboratory information systems (LIS), telemedicine, cardiovascular information systems (CVIS), clinical decision support systems (CDSS), claims management solutions, population health management solutions, and fraud analytics, are gaining traction across the globe.

The market is primarily driven by the increasing prevalence of chronic lifestyle ailments and the consequent demand for the safety and confidentiality of patient information. In addition, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the implementation of lockdown restrictions on travel and hospital visits have escalated the demand for healthcare IT solutions, representing another major growth-inducing factor. In line with this, the rising adoption of teleconsultation instead of face-to-face physician consultations during the pandemic is also augmenting the market growth. Moreover, the increasing geriatric population, the rising healthcare expenditure, and the escalating consumer demand for efficient, effective, and advanced treatment solutions, are contributing to market growth. Besides this, key market players are focusing on various innovative product development strategies and technological advancements. They are also incorporating the Internet of Things (IoT), artificial intelligence (AI), big data, and machine learning (ML) algorithms in their existing solutions to improve health and medical processes, which in turn, is providing a positive thrust to the market growth. Furthermore, various initiatives undertaken by governments of numerous countries to invest in digital health and enhance the standards of healthcare services are creating a favorable market outlook across the globe.

Beginning with a global overview, the report explores the dynamics that have a strong influence on the Healthcare IT market and can also impact its future growth. Taking 2022as the base year, the report covers historical market scenario from 2017-2022  and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the Healthcare IT market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. For each of these regions, the report studies the Healthcare IT market in detail for latest trends, outlook and opportunities.

The report analyses the competitive structure of the Healthcare IT industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the Healthcare IT industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the Healthcare IT industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the Healthcare IT industry. Furthermore, the value chain analysis of the Healthcare IT industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

Key Segments and Highlights of the Global Healthcare IT Market 

• Historical and current scenario
• Trends and developments
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis
• Market Breakup by Type
• Market Breakup by End-Use
• Market Breakup by Region
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

• Key players         

The report is a result of exhaustive primary and secondary research undertaken by analysts having years of experience in the Healthcare IT industry. All the qualitative and quantitative aspects of the industry have been covered and the collected data has been analysed and presented in the form of easily comprehensible charts, graphs and tables.