Healthcare IT Market 2020 growth factors, latest trend and regional analysis of leading players by 2026

Healthcare IT Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Increasing demand for innovative healthcare services coupled with growing investment towards improving healthcare infrastructure will drive the healthcare IT market in the coming years. For example, as per the India Brand Equity Foundation (IBEF), foreign investments of about US$3.2 billion were invested in India’s hospital and diagnostic centers sector between 2015 to March 2020. Many developing economies are also witnessing high prevalence of chronic disorders, indicating the need for improved medical services.

The rising investments in the healthcare sector across developing regions will bring tremendous growth opportunities for market expansion. Reportedly, global healthcare IT market size is projected to grow at reach over US$535.6 billion in yearly revenues up to 2026. Applications of advanced technologies and rationalization of healthcare systems will enable affordable and efficient medical treatment.

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The end-users of healthcare IT systems are healthcare payers and healthcare providers. The healthcare providers section is further sub-bifurcated into pharmacies, diagnostic and imaging centers, ambulatory clinical units, and hospitals. Pharmacies accounted for 13.3% of the healthcare IT industry share in 2019. Enhanced healthcare practices and escalating preferences towards the implementation of modernized management systems encourages pharmacists to utilize a range of healthcare IT solutions.

Electronic prescribing (e-prescribing) is the latest emerging technology that is being utilized by many pharmacies across developing economies. The systems have a significant potential to ensure patient safety by minimizing medication errors.

The Asia Pacific healthcare information technology industry is projected to observe a significant growth by 2026. The industry in APAC will be driven by rising disposable income and developing healthcare infrastructure. Various programs and initiatives undertaken by governments of the health council will positively influence IT solution development and affordability.

For example, with a vision to digitally authorize industries and the population in the country, a Digital India initiative was launched by the Indian government in July 2015. This phenomenal initiative is aimed to bring huge investments in the technology sector and connect India's digital segment. This initiative has rendered profitable growth potential for many IT health system platform providers in the region.

Prominent companies offering healthcare information technology solutions worldwide are eClinicalWorks, Cerner Corporation, Oracle Corporation, Agfa Healthcare, Allscripts Healthcare Solutions, GE Healthcare, Siemens Healthineers, and McKesson Corporation among others. These companies are emphasizing on various strategies such as new product development, business expansion, and acquisitions to consolidate their presence in the global market. 

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Partial Chapter of the Table of Content 

Chapter 4.  Healthcare Information Technology Market, By Solution

4.1. Key segment trends

4.2. Radiology information system

4.2.1.  Market size, by region, 2015 - 2026 (USD Million)

4.3. Electronic health record

4.3.1.  Market size, by region, 2015 - 2026 (USD Million)

4.4. Picture archiving and communication systems

4.4.1.  Market size, by region, 2015 - 2026 (USD Million)

4.5. Computerized physician order entry

4.5.1.  Market size, by region, 2015 - 2026 (USD Million)

4.6. Vendor neutral archives

4.6.1.  Market size, by region, 2015 - 2026 (USD Million)

4.7. mHealth

4.7.1.  Market size, by region, 2015 - 2026 (USD Million)

4.8. Healthcare analytics

4.8.1.  Market size, by region, 2015 - 2026 (USD Million)

4.9. Telehealth

4.9.1.  Market size, by region, 2015 - 2026 (USD Million)

4.10. Supply chain management

4.10.1. Market size, by region, 2015 - 2026 (USD Million)

4.11. Customer relationship management

4.11.1. Market size, by region, 2015 - 2026 (USD Million)

4.12. Fraud management

4.12.1. Market size, by region, 2015 - 2026 (USD Million)

4.13. Revenue cycle management

4.13.1. Market size, by region, 2015 - 2026 (USD Million)

4.14. Others

4.14.1. Market size, by region, 2015 - 2026 (USD Million)

Chapter 5.  Healthcare Information Technology Market, By End-use 

5.1. Key segment trends

5.2. Healthcare provider

5.2.1.  Market size, by region, 2015 - 2026 (USD Million)

5.2.2.  Hospitals

5.2.2.1. Market size, by region, 2015 - 2026 (USD Million)

5.2.3.  Pharmacies

5.2.3.1. Market size, by region, 2015 - 2026 (USD Million)

5.2.4.  Diagnostic and imaging centers

5.2.4.1. Market size, by region, 2015 - 2026 (USD Million)

5.2.5.  Ambulatory clinical units

5.2.5.1. Market size, by region, 2015 - 2026 (USD Million)

5.2.6.  Others

5.2.6.1. Market size, by region, 2015 - 2026 (USD Million)

5.3. Healthcare payer

5.3.1.  Market size, by region, 2015 - 2026 (USD Million)

5.3.2.  Private

5.3.2.1. Market size, by region, 2015 - 2026 (USD Million)

5.3.3.  Public

5.3.3.1. Market size, by region, 2015 - 2026 (USD Million)