Healthcare IT Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC446

Introduction

Healthcare IT refers to the offering of IT solutions to the healthcare industry. Healthcare IT solutions provide improved management of data and safe exchange of health related information with government, patients, consumers and insurers. Healthcare IT solutions witness a massive demand for general applications including medical record system and electronic health along with computerized physician order entry system. It also provides specialized solutions such as clinical trials management system, data mining system and clinical decision support system. Moreover, several software solutions such as e-prescribing systems, hospital information systems, ambulatory care management systems, patient management systems, etc are being widely adopted by hospitals and clinics in order to deliver improved and efficient care for patients. The advantages of adopting healthcare IT solutions result in reduction in healthcare cost, decline in medical errors and increased successful medical procedure outcomes coupled with growth in productivity of health care.

For example, the government of U.S. passed various regulatory norms and acts thus focusing on endorsement of e-healthcare by both private and public sector units, hence decreasing the healthcare costs. In addition, the commencement of cloud computing in healthcare industry has further attenuated the overall real-time exchange of data. Owing to the fast transformation witnessed in developed economies such as the US in North America and EU5 countries in Europe, the outsourcing of information technology to several other countries wherein relatively cheaper solutions can be achieved has been greatly exploited by key market players. Other countries such as China, India, Singapore and Indonesia are declared as the major information technology outsourcing centers, thus serving other nations in keeping down the their IT expenses. The key areas where healthcare IT solutions can be deployed include pharmaceutical research, biomedical research, proteomics and genetics as well as life science information technology, bio-simulation, disease research, biotechnology and others. Application of healthcare IT in forensics and insurance is a rising trend.

Market Dynamics

Growing demand for adherence of regulatory guidelines is a key factor driving the growth of global healthcare IT market. Rising initiatives by governments for high return on investment, e-health coupled with rising needs to retrench escalating costs of healthcare. Moreover, scarcity of knowledge of in-house information technology domain as well as reluctance among various end users to adopt new trends are some major factors hampering the growth of healthcare IT market.

Market Classification

The global healthcare IT market is bifurcated on the basis of product type, end-user and geography. Considering product type, the global healthcare IT market is segmented into healthcare provider solutions, healthcare payer solutions and healthcare IT outsourcing services. Healthcare provider solutions can be further sub-segmented into clinical solutions (PACS and VNA, clinical decision support systems, radiology information systems, digital pathology,  telehealth solutions, medical image analysis, computerized physician order entry, electronic health/medical records, practice management systems, laboratory information systems and others) and non-clinical solutions (medication management systems, pharmacy information systems, healthcare asset management, revenue cycle management, workforce management systems, financial management systems, supply chain management, healthcare information exchanges, healthcare analytics, population health management, and others). Healthcare payer solutions can be further divided into pharmacy, analysis and audit, claims management, fraud management, computer-assisted coding systems, payment management, provider network management, member eligibility management, customer relationship management, medical document management and other (general ledger & payroll management). Furthermore, healthcare IT outsourcing services segment can be subdivided into payer healthcare IT outsourcing services, provider healthcare IT outsourcing services, IT infrastructure management services, and operational healthcare IT outsourcing services. On the basis of end-user, the global healthcare IT market can be segmented into healthcare providers (hospitals, diagnostic & imaging centers, pharmacies, nursing homes and others) and healthcare payers (public payers and private payers). Geographically, the global healthcare IT market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Report Coverage

Market

Global Healthcare IT Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Product Type, End User, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

Market Participants

Key players operating in the global healthcare IT market include Allscripts Healthcare Solutions, Inc., McKesson Corporation, Epic Systems Corporation, Athenahealth, Inc., Siemens Healthcare, GE Healthcare, Carestream Health and Cerner Corporation among others.

Market Segmentation

Market By Product Type

·         Healthcare provider solutions

o   Clinical solutions

o   Non-clinical solutions

·         Healthcare payer solutions

o   Pharmacy

o   Analysis and audit

o   Claims management

o   Fraud management

o   Computer-assisted coding systems

o   Payment management

o   Provider network management

o   Member eligibility management

o   Customer relationship management

o   Medical document management

o   Other (general ledger & payroll management)

·         Healthcare IT outsourcing services

o   Payer healthcare IT outsourcing services

o   Provider healthcare IT outsourcing services

o   IT infrastructure management services

o   Operational healthcare IT outsourcing services

Market By End User

·         Healthcare providers

o   Hospitals

o   Diagnostic & imaging centers

o   Pharmacies

o   Nursing homes

o   Others

·         Healthcare Payers

o   Public payers

o   Private payers

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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