The latest Healthcare IT Market research report by Technavio infers that the rising need for automation across departments is driving this market’s growth.
Resulting in market growth of USD 121.75 billion from 2020 to 2025, read additional information about the market, Get FREE sample report.
Vendor Landscape
The healthcare IT market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
Allscripts Healthcare Solutions Inc., Cerner Corp., Dell Technologies Inc., General Electric Co., International Business Machines Corp., Koninklijke Philips NV, McKesson Corp., Microsoft Corp., Oracle Corp., and Siemens Healthineers AG among others are some of the few key vendors competing to maintain their market position in the market.
Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the healthcare IT industry.
View more about the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Segmentation by Component:
- Services:
- During the projected period, the services segment’s share of the healthcare IT market will expand significantly. Consulting services, learning and training, development and integration, hardware maintenance and support, IT management, process management, and software support are all examples of healthcare IT services. The need for information and communications technology (ICT) services in the healthcare sector will be fueled by the need to build improved healthcare delivery systems and a cost-effective model.
- Software
- Hardware
- Services:
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Regional Market Outlook
North America will contribute to 46% of the market growth during the forecast period. The US is a key market for healthcare IT in North America. Market growth in North America will be faster than the growth of the market in other regions.
Apart from regions, if we look at the country-wise market growth, the US, Germany, China, Japan, and UK will contribute to the highest market growth.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends, Driving the Global Healthcare IT Market
- Market Driver:
- Rising need for automation across departments:
The growing demand for automation across departments will propel the healthcare IT market to new heights. From the admission of patients, data collection on their medical history, storage of the collected data, examining patients, and after-treatment follow-ups to the transfer of patients and their relevant medical records, information technology plays a significant role in automating the treatment process. Providers are expanding their investments in automation solutions because they play a key role in enhancing efficiency and quality while decreasing time and effort for all healthcare stakeholders.
- Market Trend:
- Growing integration of Big Data with healthcare IT :
During the projection period, the market will be driven by the rising integration of Big Data with healthcare IT. Factors such as up-to-date electronic health records for better medical care, mandatory documentation as a result of government legislation, and the growing usage of wearable devices to track patients’ illnesses are all contributing to the growth of health data. Predictive analytics used to such data can provide healthcare firms with useful insights into how to improve their current business models and increase profitability. As a result, in the next years, the usage of this technology is predicted to rise, boosting the growth of the healthcare IT industry.
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
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Healthcare IT Market Scope
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2020 |
| Forecast period | 2021-2025 |
| Growth momentum & CAGR | Accelerate at a CAGR of 9.76% |
| Market growth 2021-2025 | $ 121.75 billion |
| Market structure | Fragmented |
| YoY growth (%) | 8.65 |
| Regional analysis | North America, Europe, APAC, South America, and MEA |
| Performing market contribution | North America at 46% |
| Key consumer countries | US, Germany, China, Japan, and UK |
| Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
| Companies profiled | Allscripts Healthcare Solutions Inc., Cerner Corp., Dell Technologies Inc., General Electric Co., International Business Machines Corp., Koninklijke Philips NV, McKesson Corp., Microsoft Corp., Oracle Corp., and Siemens Healthineers AG |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Component
- Market segments
- Comparison by Component
- Services – Market size and forecast 2020-2025
- Software – Market size and forecast 2020-2025
- Hardware – Market size and forecast 2020-2025
- Market opportunity by Component
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Allscripts Healthcare Solutions Inc.
- Cerner Corp.
- Dell Technologies Inc.
- General Electric Co.
- International Business Machines Corp.
- Koninklijke Philips NV
- McKesson Corp.
- Microsoft Corp.
- Oracle Corp.
- Siemens Healthineers AG
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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