The Healthcare IT Market was valued at USD 337.8 Billion in 2023 and is estimated to reach USD 853.9Billion by 2033, growing at a CAGR of 10.7 % from 2024 to 2033.  

Scope of the market:

Healthcare IT market is broad and encompasses various technologies, solutions, and services aimed at improving the delivery, efficiency, and quality of healthcare services. Here are some key areas within the scope of the healthcare IT market. The healthcare IT market is continually evolving as technology advances, healthcare delivery models change, and regulatory requirements evolve. The rising healthcare IT spending, improvement in network connectivity and infrastructure are propelling the market towards growth in Healthcare IT market. Furthermore, the rising prevalence of chronic disease, rising medical cost and increasing demand for home healthcare facilities like remote patient monitoring is encouraging the Healthcare IT market to drive towards expansion.

Overall, healthcare IT plays a crucial role in driving innovation, efficiency, and quality in the healthcare industry.

Economic Impact of Covid-19:

he COVID-19 pandemic accelerated the adoption of telehealth and remote patient monitoring solutions. Companies in this space may pursue mergers to enhance their telehealth platforms, expand their geographic reach, or integrate complementary technologies to offer comprehensive virtual care solutions. The COVID-19 reshaped the healthcare landscape, driving innovation, efficiency, and resilience in the face of unprecedented challenges. The lasting impact of these changes is expected to continue shaping the healthcare IT market in the post-pandemic era, with a continued emphasis on digital health, telemedicine, data analytics, and cybersecurity.

The healthcare IT market has been experiencing consolidation as companies seek to expand their portfolios, increase market share, and improve competitiveness. Mergers and acquisitions may involve companies specializing in electronic health records (EHR), telemedicine, data analytics, medical imaging, and other healthcare IT solutions.

Key Players:

• Epic Systems Corporation
• Cerner Corporation
• Philips Healthcare
• Veradigm Inc.
• Athnahealth Inc
• GE Healthcare
• Infor Inc
• Koninklijke Philips N.V.
• Agfa-Gevaert Group
• Avhana Health Inc
• Black Book Research LLC
• Clario
• Signant Health
• Mckesson Corporation
• Oracle Corporation
• Others

The above key players in the Healthcare IT Market can be changed according to the client’s requirements.

Moreover, the key players aim towards expansion, joint ventures, collaboration, mergers, and acquisitions to advance capabilities in the Epigenetics Market. In recent years there have been many mergers and acquisitions or closures of the Healthcare IT Market.

Recent Developments in the Healthcare IT Market.

In 2023: LGI Healthcare Solutions, a leading developer in healthcare IT Solutions in Canada acquired Boston Software Systems, which provides automation & system integration software solutions for hospital environments and streamlines various complex businessprocesses such as RCM, payment posting, and claims management.

IKS Health acquires AQuity Solutions for USD 200 Million:

A healthcare IT company IKS Health, acquired AQuity Solutions a clinical documentation, medical coding, and mid-revenue software firm.

Solganick & Co. expects 2024 to show an increase in M&A transactions with strategic buyers to add complementary and new technology offerings, including artificial intelligence, for the Healthcare IT sector

Healthcare IT Market: Key Benefits:

1. The report provides information regarding key drivers, restraints, and opportunities with impact analysis.
2. Quantitative and Qualitative analysis of the current market.
3. Estimations for the forecast period 2033.
4. Historical data and forecast data.
5. Recent developments and trends in the market.   
6. Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
7. Covid-19 Impact analysis

Healthcare IT Market Segmentation:

By Products and Services:

• Healthcare Payer Solutions
• Healthcare Provider Solutions

By Applications:

• Laboratory Information
• Clinical Information Systems
• Computerized Provider Order Entry Systems
• Electronic Health Records
  • Licensed Software
  • Technology Resale
  • Professionals Services
  • Subscription
  • Others
• Revenue Cycle Management:
• Integrated
• Standalone

By Components:

• Services
• Software
• Hardware

By Delivery Mode:

• On-Premise
• Cloud-Based

By End-User:

• Healthcare Payer
• Healthcare Provider
• Research Centres

By Region:

Asia-Pacific

• Japan
• China
• India
• Australia
• New Zealand
• Rest of Asia-Pacific

 

North America

• US
• Canada
• Mexico

Europe

• Germany
• France
• Italy    
• Spain
• UK
• Rest of Europe

The rest of the World

Each of the market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.

Research Scope:

Report Scope	Details
Base Year	2023
Historical Years	2019 to 2022
Forecast Years	2024 to 2033
Market Size 2023	USD337.8BN
Market Revenue 2033	USD853.9 BN
Growth Rate 2024- 2033	10.7 %
Report Coverage	Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis.
Segments Covered	Products and Services, Application, Components, Delivery Mode, End-User, Region
Companies Mentioned	Epic Systems Corporation, Cerner Corporation, Philips Healthcare, Veradigm Inc., Athenahealth Inc, GE Healthcare, Infor Inc, Koninklijke Philips N.V., Agfa-Gevaert Group, Avhana Health Inc, Black Book Research LLC, Clario, Signant Health, McKesson Corporation, Oracle Corporation
Customization	Yes

 

Regional Analysis:

North America dominates the healthcare industry due to the major market players investing in the growth of the market, the strong infrastructure of the healthcare industry, the number of procedures associated with drug development, and the rising number of development and research in NorthAmerican region is propelling the market to grow. Moreover, higher penetration of internet facilities which in turn increase the adoption of smart devices, increasing the buying power which improved the digital technology has boosted the market to grow during the forecast period.

The United States is the major market in the north American region which is growing due to the large presence of major companies and higher adoption of digital healthcare to improve patient care. In the United States, healthcare companies are encouraged by Hitech Act via Medicare and Medicaid incentive payments to adopt healthcare IT systems.

Key questions answered by this report.

1. Top market players contributing to the revenue?
2. Trending strategies by the players?
3. Which region will be the leading one in the forecast period?
4. Factors that drive the Global Healthcare ITMarket?
5. Which factors will affect the Global Healthcare ITMarket?
6. How Covid-19 pandemic impacted the growth of the Global Healthcare ITMarket?
7. Which Segment accounted for the Global Healthcare ITMarket shares?

 

Frequently Asked Questions (FAQ) :