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Healthcare IT Market Driven by Technological Advancements and Government Support

The global Healthcare IT Market is anticipated to increase steadily at a rate of 13.3% per year between 2021 and 2031, reaching an astounding valuation of $791.4 billion by that time. Several important elements influencing the healthcare sector are blamed for this extraordinary increase. The demand for healthcare IT solutions is being driven by the exponential expansion of patient data and the growing digitization of healthcare systems enabled by developments in mHealth, telehealth, and remote patient monitoring. As healthcare providers work to improve patient care and control rising costs, the ongoing COVID-19 pandemic has sped up the implementation of healthcare IT technologies. Governments all over the world are actively encouraging and enforcing the installation of healthcare IT solutions because they recognise the need for modernization, which is driving the market's expansion.

The global healthcare IT industry is positioned for impressive growth in the future years thanks to the introduction of supportive legislation and the continuous investment in infrastructure for healthcare IT. This market research report offers in-depth insights into the development prospects, trends, and obstacles that will influence the future landscape of the healthcare IT sector.

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Global healthcare IT market will reach $791.4 billion by 2031, growing by 13.3% annually over 2021-2031, driven by the increasing volume of patient data, rising digitalization of healthcare system powered by technological advancements in mHealth/telehealth/remote patient monitoring, increasing investment and government mandates & support for healthcare IT solutions, and the need to curtail escalating healthcare costs with HCIT solutions due to COVID-19.

Highlighted with 87 tables and 79 figures, this 162-page report “Global Healthcare IT Market 2021-2031 by Component (Hardware, Software, Services), Product (Healthcare Providers Solutions, Healthcare Payers Solutions, HCIT Outsourcing Services), Delivery Mode (On-Premise, Cloud-based), End User, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global healthcare IT market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

Market Structure
Growth Drivers
Restraints and Challenges
Emerging Product Trends & Market Opportunities
Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global healthcare IT market in every aspect of the classification from perspectives of Component, Product, Delivery Mode, End User, and Region.

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Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ bn) for 2021-2031 included in each section.


Based on Product, the global market is segmented into the following sub-markets with annual revenue ($ bn) for 2021-2031 included in each section.

Healthcare Providers Solutions

o             Clinical Solutions

             Electronic Health Record (HER)

             Population Health Management Solutions

             Medical Image Processing Analysis System

             Picture Archiving and Communication Systems (PACS)

             Radiology Imaging Systems (RIS)

             Laboratory Information Systems

             Vendor Neutral Archive (VNA)

             Computerized Physician Order Entry (CPOE)

             Clinical Decision Support Systems

             Specialty Management Information Systems

             Healthcare IT Integration System

             Practice Management Systems

             Radiation Dose Management Systems

             Electronic Prescribing Systems

             Tele-Healthcare

             Others

o             Non-Clinical Solutions

             Healthcare Asset Management Solutions

             Healthcare Information Exchange

             Revenue Cycle Management Solutions

             Financial Management Systems

             Medical Document Management Systems

             Pharmacy Information Systems

             Workforce Management Systems

             Healthcare Analytics

             Healthcare Interoperability Solutions

             Healthcare Quality Management Solutions

             Medication Management Systems

             Others

Healthcare Payers Solutions

o             Claims Management Systems

o             Customer Relationship Management Solutions

o             Pharmacy Audit and Analysis Solutions

o             Payment Management Solutions

o             Member Eligibility Management Solutions

o             Fraud Analytics Solutions

o             Others

HCIT Outsourcing Services

o             Claims Management Services

o             Provider Network Management Services

o             Billing and Accounts Management Services

o             Fraud Analytics Services

o             Others

By Delivery Mode, the global market is segmented into the following sub-markets with annual revenue ($ bn) for 2021-2031 included in each section.

On-Premise Deployment
Cloud-based Deployment

By End User, the global market is segmented into the following sub-markets with annual revenue ($ bn) for 2021-2031 included in each section.

Healthcare Providers

o             Hospitals, Physician Groups and IDNs

o             Ambulatory Care Centers

o             Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities

o             Diagnostic and Imaging Centers

o             Other Providers

Healthcare Payers

o             Private Payers

o             Public Payers

Other End Users

Geographically, the following regions together with the listed national/local markets are fully investigated:

North America (U.S., Canada, and Mexico)
Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (UAE, Saudi Arabia, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ bn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Component, Product and Delivery Mode over the forecast years are also included.

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The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

Allscripts Healthcare Solutions, Inc.

Athenahealth Inc.

Cerner Corporation

Cognizant Technology Solutions Corporation

eClinicalWorks LLC

EPIC Systems Corporation

GE Healthcare

Infor Inc.

International Business Machine Corporation

Koninklijke Philips N.V.

McKensson Corporation

Optum, Inc. (A Part of Unitedhealth Group)

Oracle Corporation

Siemens Healthineers AG

View Report Scope and Latest Developments in the Market:

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