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Global Healthcare Information Technology Market By Application (Electronic Health Records, Laboratory Information Systems, Others.), By End-Users (Healthcare Providers and Healthcare Payers) By Region, Forecast & Opportunities to 2026

The global healthcare IT market accounted for a value of USD 177.2 billion in 2019. And is projected to register growth at a CAGR of 11.7% during forecast period.

COVID-19 has impacted the healthcare IT market as it has opened various opportunities for information technology in healthcare. The tele-health solution is gaining immense popularity due to social distancing norms. Due to this pandemic, IT sector is very beneficial in stopping corona transmission within hospital staff.  The healthcare IT market is likely to witness boost during COVID-19.

Definition:

Healthcare information technology (IT) includes storage, exchange and processing of health information in an electronic environment. The information technology in healthcare helps in reducing errors and cost. It improves efficiency and decrease paperwork. The privacy and security of electronic health information assured.

Market Dynamics (Drivers/Opportunities):

The adoption of healthcare IT is increasing in various regions of the world as it helps in improving chronic disease management as the chronic diseases are increasing in the world. The demand for preventive care is increasing and the investment is also increasing healthcare sector around the world. This drives growth in healthcare IT during forecast period.

The technological advancement is happening rapidly around the globe. The latest technology is adopted by major healthcare units. The demand is increasing for reducing cost and to increase efficiency. It also provides remote monitoring solutions for efficient working of healthcare units. This drives growth in healthcare IT market during forecast period.

Market Insights, by End-Users

On the basis of end-users, the healthcare IT market is segmented into healthcare providers and healthcare payers. The healthcare providers segment is projected to register growth at highest CAGR during forecast period.  Governments across the world have adopted various initiatives in order to improve quality of patient care. Healthcare providers help in reducing costs and improve efficiency of healthcare services. Healthcare providers adopting healthcare IT at large scale and this drives growth in healthcare provider end-users during forecast period.

Market Insights, by Application

On the basis of application, the healthcare IT market is segmented into electronic health records, computerized provider order entry system, PACS, laboratory information systems, electronic prescribing systems, clinical information systems and tele-healthcare. The electronic health records (EHR) segment is accounted for 41.4% of share in 2019. The demand for EHR was very high in 2019.

However, electronic prescription systems segment is estimated to be fastest growing segment during forecast period. The demand is increasing for reducing errors in medical sector. The focus is shifting on improving patient’s experience and care. Around 200 million medical errors were found in year 2018 and these errors can be very harmful. The demand for reducing all these errors is increasing around the globe. The adoption of EHR’s is rising among healthcare clinics and hospitals. This drives growth in EHR segment during forecast period.

Regional Insights

Asia-Pacific region is estimated to register growth at highest CAGR during forecast period. The population is very large in this region. China and India together contributes the largest population size. The per capita income is increasing which results in increase in spending on medical by people. The investment is increasing on healthcare segment. The adoption of IT and various new technologies is also increasing in this region and major companies are establishing their facilities in this region. This drives growth in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in healthcare IT industry are Optum, Cerner Corporation, Cognizant, Change Healthcare, Philips, EPIC Systems Corporation, Dell Technologies, Allscripts, Athenahealth, General Electric, Conduent, Conifer, Nuance, 3M, Oracle, IBM, Inovation, Infor and Intersystems.

Segments Covered in the Report

This report forecasts The Global Healthcare IT Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global healthcare IT market report on the basis of application and end-users.

Healthcare Information Technology Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Healthcare Information Technology Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Healthcare Providers
  • Healthcare Payers
  1. Healthcare Information Technology Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Electronic Health Records
  • Computerized Provider Order Entry System
  • PACS
  • Laboratory Information Systems
  • Electronic Prescribing Systems
  • Clinical Information Systems
  • Tele-healthcare
  1. Healthcare Information Technology Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Application
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Application
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Application
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Application
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Intersystems
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Optum
    • Cerner Corporation
    • Cognizant
    • Change Healthcare
    • Philips
    • EPIC Systems Corporation
    • Dell Technologies
    • Allscripts
    • Athenahealth
    • General Electric
    • Conduent
    • Conifer
    • Nuance
    • 3M
    • Oracle
    • IBM
    • Inovation
    • Infor
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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