August 19, 2019 — Global healthcare IT market report published by Accurize Market Research forecast that the global market is expected to reach $450 billion by 2025; growing at a CAGR of 13.3% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
The upsurge in awareness towards patient safety and patient care, need for integrated healthcare systems across the globe to drive the growth of the market
Rise in awareness towards patient safety and patient care, the need for integrated healthcare systems fuel the demand for the global healthcare IT market. Moreover, stringent regulations regarding healthcare provider solutions also boost the growth of the market.
The global healthcare IT market has been bifurcated on the basis of type, end user, and geography. The segment by type includes healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. The healthcare provider solution is further categorized into clinical solutions and non-clinical healthcare IT solutions. Healthcare providers and healthcare payers are the various segmentations of the healthcare IT market by end user.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers Germany, France, United Kingdom, Italy, Spain, and others. Asia-Pacific covers China, India, Japan, and others. The rest of the World (RoW) covers South America, Middle East, and Africa.
“Healthcare provider solutions segment accounted for the largest market share in the type segment", says Accurize
By type, healthcare provider solutions segment accounted for the largest market share in 2017 and is expected to continue its dominance during the forecast period 2017 – 2025, owing to its benefits helpful in maintaining healthy bones, relieving menopausal symptoms, and preventing prostate and colorectal cancer.
Healthcare providers were the highest revenue generating segment by end user, accounting for more than two third of the total market share in 2017.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted for the largest market share of 44.7%; owing to the high adoption of HCIT technologies, and the presence of a large number of IT companies, such as, EPIC Systems, Cerner Corporation, GE Healthcare, and McKesson Corporation. Europe was the second largest market with a total market share of 30.7%. In terms of growth, Asia-Pacific is expected to attain the fastest CAGR of 15.2% during the forecast period 2017-2025.
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Top players in the market
The key market players include Allscripts Healthcare Solutions, Inc., Infosys, athenahealth, Inc., McKesson Corporation, Accenture, Epic Systems Corporation, United Healthcare Group, GE Healthcare, Siemens Healthcare, Cerner Corporation, Philips, and Carestream Health among others.
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