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Global Healthcare IT Market to reach USD 988.42 Billion by 2028

Global Healthcare IT Market Size study, By Product & Services (Healthcare Provider Solutions {Clinical Solutions, Non-Clinical Solutions, Medication Management Systems, Workforce Management Solutions, Financial Management Systems (Billings & Accounting), Healthcare Information Exchanges, Medical Document Management Solutions}, Healthcare Payer Solutions {Claims Management Solutions, Population Health Management Solutions, Pharmacy Audit and Analysis Solutions, Payment Management Solutions, Customer Relationship Management Solutions, Member Eligibility Management Solutions, Fraud Analytics Solutions, Provider Network Management Solutions}, HCIT Outsourcing Services {IT Infrastructure Management Services, Payer HCIT Outsourcing Services, Provider HCIT Outsourcing Services, Operational HCIT Outsourcing Services}), By Component (Services, Software, Hardware), By End-User (Healthcare Providers {Hospitals, Ambulatory Care Centres, Home Healthcare Agencies & Assisted Living Facilities, Diagnostic & Imaging Centres, Pharmacies}, Healthcare Payers {Private Payers, Public Payers}), and Regional Forecasts 2022-2028

Product Code: HLSHIT-39873606
Publish Date: 30-04-2022
Page: 200

Global Healthcare IT Market is valued at approximately USD 271.07 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 20.3% over the forecast period 2022-2028. Healthcare IT (Information technology) is the multitude of technology tools that are used to record, evaluate, and distribute data associated with the patients. Healthcare IT enhances the health of the population by reducing human errors, improving practice efficiencies and clinical outcomes, facilitating care coordination, along tracking data over time. The growing support of the governments for adopting IT solutions need for curtailing the rising healthcare spendings, and increasing adoption of telehealth, e-prescribing, mHealth, and other HCIT solutions are the chief factors that may surge the market demand across the globe. For instance, In June 2021, Aker Solutions and Cognizant collaborated to reform and streamline its whole IT infrastructure, which also comprises the company’s business technology network and application maintenance and advancements. Thereby, rising initiatives by the leading companies for the development of their IT infrastructure further impelling the market growth. However, the lack of data privacy in healthcare settings impedes the growth of the market over the forecast period of 2022-2028. Also, increasing adoption of Healthcare IT solutions in outpatient care facilities and shift towards patient-centric healthcare delivery is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the Global Healthcare IT Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the increasing proliferation and deployment of various IT services and solutions for delivering better patient care at lower expenses, along with the presence of major manufacturing hubs. Whereas, Asia-Pacific is also anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing investments and reforms to modernize healthcare infrastructure, government initiatives for the adoption of HCIT, and rising number of medical tourism activities would create lucrative growth prospects for the Healthcare IT Market across the Asia-Pacific region.

Major market players included in this report are:
Dell Technologies
IBM
Wipro
GE Healthcare
3M
SAS Institute
Oracle Corporation
Cognizant
Carestream Health
eClinicalWorks

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product & Services
Healthcare Provider Solutions
Clinical Solutions
Non-Clinical Solutions
Medication Management Systems
Workforce Management Solutions
Financial Management Systems (Billings & Accounting)
Healthcare Information Exchanges
Medical Document Management Solutions
Healthcare Payer Solutions
Claims Management Solutions
Population Health Management Solutions
Pharmacy Audit and Analysis Solutions
Payment Management Solutions
Customer Relationship Management Solutions
Member Eligibility Management Solutions
Fraud Analytics Solutions
Provider Network Management Solutions
HCIT Outsourcing Services
IT Infrastructure Management Services
Payer HCIT Outsourcing Services
Provider HCIT Outsourcing Services
Operational HCIT Outsourcing Services
By Component
Services
Software
Hardware
By End User
Healthcare Providers
Hospitals
Ambulatory Care Centres
Home Healthcare Agencies & Assisted Living Facilities
Diagnostic & Imaging Centres
Pharmacies
Healthcare Payers
Private Payers
Public Payers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Healthcare IT Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Global Healthcare IT Market, by Region, 2020-2028 (USD Billion)
1.2.2. Global Healthcare IT Market, by Product & Services, 2020-2028 (USD Billion)
1.2.3. Global Healthcare IT Market, by Component, 2020-2028 (USD Billion)
1.2.4. Global Healthcare IT Market, by End-User, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Healthcare IT Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Healthcare IT Market Dynamics
3.1. Healthcare IT Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Growing trend of e-prescribing, telehealth, mHealth, and other HCIT solutions
3.1.1.2. Rising need to curtail escalating healthcare costs
3.1.2. Market Challenges
3.1.2.1. Lack of data privacy in healthcare settings
3.1.3. Market Opportunities
3.1.3.1. Increasing adoption of healthcare IT solutions in outpatient care facilities
3.1.3.2. Shift towards patient-centric healthcare delivery
Chapter 4. Global Healthcare IT Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2019-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Healthcare IT Market, by Product & Services
6.1. Market Snapshot
6.2. Global Healthcare IT Market by Product & Services, Performance – Potential Analysis
6.3. Global Healthcare IT Market Estimates & Forecasts by Product & Services, 2019-2028 (USD Billion)
6.4. Healthcare IT Market, Sub Segment Analysis
6.4.1. Healthcare Provider Solutions
6.4.1.1. Clinical Solutions
6.4.1.2. Non-Clinical Solutions
6.4.1.3. Medication Management Systems
6.4.1.4. Workforce Management Solutions
6.4.1.5. Financial Management Systems (Billings & Accounting)
6.4.1.6. Healthcare Information Exchanges
6.4.1.7. Medical Document Management Solutions
6.4.2. Healthcare Payer Solutions
6.4.2.1. Claims Management Solutions
6.4.2.2. Population Health Management Solutions
6.4.2.3. Pharmacy Audit and Analysis Solutions
6.4.2.4. Payment Management Solutions
6.4.2.5. Customer Relationship Management Solutions
6.4.2.6. Member Eligibility Management Solutions
6.4.2.7. Fraud Analytics Solutions
6.4.2.8. Provider Network Management Solutions
6.4.3. HCIT Outsourcing Services
6.4.3.1. IT Infrastructure Management Services
6.4.3.2. Payer HCIT Outsourcing Services
6.4.3.3. Provider HCIT Outsourcing Services
6.4.3.4. Operational HCIT Outsourcing Services
Chapter 7. Global Healthcare IT Market, by Component
7.1. Market Snapshot
7.2. Global Healthcare IT Market by Component, Performance – Potential Analysis
7.3. Global Healthcare IT Market Estimates & Forecasts by Component, 2019-2028 (USD Billion)
7.4. Healthcare IT Market, Sub Segment Analysis
7.4.1. Services
7.4.2. Software
7.4.3. Hardware
Chapter 8. Global Healthcare IT Market, by End-User
8.1. Market Snapshot
8.2. Global Healthcare IT Market by End-User, Performance – Potential Analysis
8.3. Global Healthcare IT Market Estimates & Forecasts by End-User, 2019-2028 (USD Billion)
8.4. Healthcare IT Market, Sub Segment Analysis
8.4.1. Healthcare Providers
8.4.1.1. Hospitals
8.4.1.2. Ambulatory Care Centers
8.4.1.3. Home Healthcare Agencies & Assisted Living Facilities
8.4.1.4. Diagnostic & Imaging Centers
8.4.1.5. Pharmacies
8.4.2. Healthcare Payers
8.4.2.1. Private Payers
8.4.2.2. Public Payers
Chapter 9. Global Healthcare IT Market, Regional Analysis
9.1. Healthcare IT Market, Regional Market Snapshot
9.2. North America Healthcare IT Market
9.2.1. U.S. Healthcare IT Market
9.2.1.1. Product & Services estimates & forecasts, 2019-2028
9.2.1.2. Component estimates & forecasts, 2019-2028
9.2.1.3. End-User estimates & forecasts, 2019-2028
9.2.2. Canada Healthcare IT Market
9.3. Europe Healthcare IT Market Snapshot
9.3.1. U.K. Healthcare IT Market
9.3.2. Germany Healthcare IT Market
9.3.3. France Healthcare IT Market
9.3.4. Spain Healthcare IT Market
9.3.5. Italy Healthcare IT Market
9.3.6. Rest of Europe Healthcare IT Market
9.4. Asia-Pacific Healthcare IT Market Snapshot
9.4.1. China Healthcare IT Market
9.4.2. India Healthcare IT Market
9.4.3. Japan Healthcare IT Market
9.4.4. Australia Healthcare IT Market
9.4.5. South Korea Healthcare IT Market
9.4.6. Rest of Asia Pacific Healthcare IT Market
9.5. Latin America Healthcare IT Market Snapshot
9.5.1. Brazil Healthcare IT Market
9.5.2. Mexico Healthcare IT Market
9.6. Rest of The World Healthcare IT Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Dell Technologies
10.2.1.1. Key Information
10.2.1.2. Overview
10.2.1.3. Financial (Subject to Data Availability)
10.2.1.4. Product Summary
10.2.1.5. Recent Developments
10.2.2. IBM
10.2.3. Wipro
10.2.4. GE Healthcare
10.2.5. 3M
10.2.6. SAS Institute
10.2.7. Oracle Corporation
10.2.8. Cognizant
10.2.9. Carestream Health
10.2.10. eClinicalWorks
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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