New York, NY, April 14, 2021 (News) — Facts and Factors have published a new research report titled “Healthcare in IT Market By Product (Healthcare Provider Solutions, Non-clinical Solutions, Healthcare Payer Solutions, Provider Healthcare IT Outsourcing Services, Payer Healthcare IT Outsourcing Services, Operational Healthcare IT Outsourcing Services), By End User (Healthcare Providers, and Health care Payers), By Application (Electronic Health Records (EHRs), Computerized Provider Order Entry Systems, Electronic Prescribing Systems, PACS, Laboratory Information Systems, Clinical Information Systems, Tele-healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.
“According to the research report, the global Healthcare in IT Market was estimated at USD 185 Billion in 2019 and is expected to reach USD 662 Billion by 2026. The global Healthcare in IT Market is expected to grow at a compound annual growth rate (CAGR) of 20% from 2019 to 2026”.
Healthcare in IT Market: Overview and Definition
Healthcare is undergoing dramatic transformations all over the world. Singapore is seeing an increase in the number of health-related start-ups. Many countries support mobile health programs in the transition from traditional health systems to technological treatment. The government of Mexico is working in multifaceted ways to combat diabetes, including the development of community glucose test centers and soda taxes. Saudi Arabia is reviewing and reconsidering where and how the whole healthcare system is being supported. Healthcare is undergoing dramatic transformations all over the world. Singapore is seeing an increase in the number of health-related start-ups. Many countries support mobile health programs in the transition from traditional health systems to technological treatment. The government of Mexico is working in multifaceted ways to combat diabetes, including the development of community glucose test centers and soda taxes. Saudi Arabia is reviewing and reconsidering where and how the whole healthcare system is being supported.
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Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Healthcare in IT Market?
2) What is the market size, share of Healthcare in IT Market?
3) Who are the top market players in Healthcare in IT Market?
4) What will be the future market of Healthcare in IT Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Healthcare in IT Market: Industry Major Market Players
- McKesson Corporation
- United Healthcare Group
- Allscripts Healthcare Solutions Inc
- Athenahealth Inc
- Epic Systems Corporation
- GE Healthcare
- Cerner Corporation
- Oracle Corporation Koninklijke Philips N.V
- Infor Inc.
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Increasing geriatric population and technological advancement is driving the market of global healthcare in IT
The growing geriatric population is projected to boost the use of IT services, the costs of hospital equipment, particularly for advanced treatment, and the need for home-based care services. The growing prevalence of chronic diseases such as cancer, diabetes, and heart failure also drives demand in this market for a number of IT-based services. Health IT benefits are forecast to drive business growth, such as minimizing errors in a medical facility, decreasing operating costs, and rising good performance. The acceptance of IT healthcare services has increased in recent years according to a recent AMA Survey and to data quoted in an article published in Healthcare IT News in 2020. Remote surveillance has risen from 13% in 2016 to 22% in 2019, according to the report. In addition, mobile penetration and Internet connectivity are expected to increase and encourage IT acceptance and growth in the medical sector. The number of unique mobile subscribers is expected to reach 5.8 billion by 2025, according to Mobile Economy 2020. In addition, the number of internet users grew to approximately 3,8 billion in 2019 from 250 million in 2018.
Additionally, the industry is expected to push forward progress in mobile and internet technologies to enhance disease identification, treatment, and patient engagement and satisfaction. In addition to the demand for VAT and the increased costs of delivering services in the healthcare sector, digitalization will probably boost the growth of the market for IT healthcare over the 2020-2027 forecasts. On the other hand, the high integration of IT healthcare in order to solve big data management problems and their protection will also drive the many opportunities which will lead to the growth of the IT healthcare market in the forecast period. The sector is split between end-users into hospital insurers and healthcare providers. The healthcare provider segment will increase in terms of goods and services in the medical IT market at the fastest rate during the forecast period. This is because of attempts by the Government to improve the quality of medical care and the need to monitor increasing costs of health care and increase the efficiency of healthcare services. Through the implementation of electronic medical records, computerized supplier entry systems, electronic prescription systems, pacs, laboratory information systems, clinical information systems, telehealthcare, is categorized into electronic medical records.
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Global Healthcare in IT Market: Growth Factors
Growing geriatric population; rising hospital equipment costs, especially for advanced treatment and care; and growing demand for home healthcare services are all expected to boost IT service adoption. Furthermore, the increasing prevalence of chronic diseases such as cancer, diabetes, and heart failure is driving demand for a variety of IT-based services in this market. Healthcare IT benefits such as reducing errors in a medical facility, lowering operating costs, and increasing the rate of good results are expected to drive business growth. According to a recent AMA survey and data cited in an article published in Healthcare IT News in 2020, the acceptance of healthcare IT services has increased in recent years. According to the survey, remote monitoring for better treatment increased from 13% in 2016 to 22% in 2019. Furthermore, increasing mobile penetration and internet access is expected to drive IT adoption and development in the healthcare sector. According to the Mobile Economy 2020, the number of unique mobile subscribers was about 5.2 billion in 2019 and is projected to hit 5.8 billion by 2025. Furthermore, the number of internet users rose from 250 million in 2018 to nearly 3.8 billion in 2019. Furthermore, advances in mobile and internet-related technology for enhancing disease detection, care, and patient interaction and satisfaction are expected to drive the industry. The digitization in the healthcare industry, as well as demand for value-based care and increasing costs of providing healthcare services, will likely accelerate the growth of the healthcare IT market during the forecast period of 2020-2027. On the other hand, the high integration of the healthcare IT sector to solve issues with big data management and its security would further fuel the numerous opportunities that will lead to the growth of the healthcare IT market during the forecast period.
Global Healthcare in IT Market: Segmentation
The global Healthcare in IT market is segmented on the basis of product as healthcare provider solutions, non-clinical solutions, healthcare payer solutions, provider healthcare it outsourcing services, payer healthcare it outsourcing services, operational healthcare it outsourcing services. In the healthcare provider solutions segment, non-clinical solutions are projected to expand at the fastest CAGR. Technological advancements in the area of information technology have resulted in the creation of personalized software systems to meet the needs of healthcare providers. This is increasing end-user acceptance of healthcare IT solutions. Furthermore, reimbursement reductions, revenue loss due to a lack of proper documentation, and strict quality control regulations are driving the non-clinical segment sector. By End Users, the market is divided into healthcare providers and healthcare payers.
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North America is projected To Dominate the Global Healthcare in IT Market
North America had the largest share of the global market in 2020, and this trend is expected to continue during the forecast period. The increasing use and deployment by healthcare providers of IT services and solutions to provide quality patient care at lower cost drive the regional market. In addition, specialized personnel and the rise of the number of hospitals, research centers, and universities drive market growth.
Browse the full “Healthcare in IT Market by Product (Healthcare Provider Solutions, Non-clinical Solutions, Healthcare Payer Solutions, Provider Healthcare IT Outsourcing Services, Payer Healthcare IT Outsourcing Services, Operational Healthcare IT Outsourcing Services), By End User (Healthcare Providers, and Health care Payers), By Application (Electronic Health Records (EHRs), Computerized Provider Order Entry Systems, Electronic Prescribing Systems, PACS, Laboratory Information Systems, Clinical Information Systems, Tele-healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/healthcare-in-it-market.
The Global Warehouse Management System market is segmented as follows:
- Healthcare Provider Solutions
- Non-clinical Solutions
- Healthcare Payer Solutions
- Provider Healthcare IT Outsourcing Services
- Payer Healthcare IT Outsourcing Services
- Operational Healthcare IT Outsourcing Services
By End User:
- Healthcare Providers
- Health care payers
- Electronic Health Records (EHRs)
- Computerized Provider Order Entry Systems
- Electronic Prescribing Systems
- Laboratory Information Systems
- Clinical Information Systems
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