North America Healthcare IT Market expected to reach USD 148.4 billion

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According to Data Bridge Market Research new Market report “North America Healthcare IT Market, By Product (EHR, RIS, PACS, VNA, CPOE, MHealth, Telehealth, Healthcare Analytics, Supply Chain Management, Revenue Cycle Management, CRM, Claims Management, Fraud Management), By End User (Providers (Hospitals, ASC’s, Home Healthcare, Diagnostic Centers, Pharmacies), Payers (Private, Public)), By Geography (U.S., Canada, Mexico) – Trends and Forecast to 2022”, has accounted a market value of USD 58.6 billion in 2015 and is expected to grow to USD 148.4 billion in 2022, growing at a CAGR of 14.2% during the forecast period 2016 to 2022.

Report URL: http://databridgemarketresearch.com/reports/north-america-healthcare-it-market/

After the initiation of Affordable care act in 2010, the shift is U.S. healthcare has shifted towards, dynamic value based services than volume based static model. U.S. almost spends 7% of its GDP is healthcare and still is not able to generate proper healthcare. To integrate and record all healthcare proceedings in U.S. healthcare IT has received immense acceptance I the U.S. and Canada. After Obamacare there was a sharp rise in healthcare spending in U.S., according to OECD in 2015 U.S. spends about USD 8,713 per person per year which is double the OECD average. Under Obamacare it is expected in next 5 years healthcare expenditure may take up about 20% of the nation’s GDP. Healthcare IT can play a very important role in minimizing expenditure in such a costly era. Owing to the above factors U.S. is expected to dominate the healthcare IT market.  

Healthcare IT Market – Market Segmentation:

The North America healthcare IT market is broadly divided into three segments—healthcare provider solutions, payer solutions, and HCIT outsourcing services. The healthcare provider solutions market is further segmented into clinical solutions and non-clinical solutions. The clinical solutions segment covers EHR/EMR, PACS and VNA, CPOE RIS, CDSS, specialty information management systems, healthcare IT integration systems, practice management systems, radiation dose management systems, radiology information systems, medical image processing and analysis systems, laboratory information systems, digital pathology solutions, telehealth solutions, and mHealth solutions. In 2015, electronic health records accounted for the majority share of 33.2% in the North America clinical solutions market. Some commercially available and widely preferred EHRs across North America are EpicCare Ambulatory electronic medical record (Epic Systems); The Cerner electronic medical record (Cerner Corporation); InteGreat EHR and Paragon Community Plus (McKesson Corporation); AthenaClinicals (Athena Health, Inc.); and MEDITECH EHR (MEDITECH, Inc.). 

The non-clinical solutions segment includes pharmacy information systems, medication management systems, healthcare asset management, workforce management systems, revenue cycle management, financial management systems, medical document management systems, healthcare information exchange, population health management, supply chain management, healthcare analytics, and customer relationship management.  The payer solutions segment includes pharmacy analysis and audit, claims management, fraud management, computer-assisted coding, care management, medical document management systems, payment management solutions, provider network management, member eligibility management, and other payer HCIT solutions. In 2015, the claims management segment accounted for the largest share of 29.7% of the North American healthcare IT payer solutions market.

The healthcare IT market is segmented based on the end-users into payers and providers. Providers include hospitals, ambulatory surgical centers, diagnostic centers, home healthcare and others. While payers include private and public healthcare reimbursement and insurance agencies. Hospitals are expected to dominate the market for healthcare IT solutions market. 

Healthcare IT Market – Geographical Segmentation

Based on geography the market is segmented into 3 countries, U.S. Canada, Mexico. U.S. has been among the frontrunners in the development of the IT framework for the healthcare industry. The healthcare IT market in the U.S. possesses lucrative growth opportunities, owing to the presence of several large hospitals and health systems, changing regulations, rising geriatric population, and increasing need to curtail healthcare costs in the country. A number of major global players are also based in the U.S., owing to which the U.S. is a center for innovation in the healthcare IT market. In 2016, U.S. is expected to dominate the North American Healthcare IT market with 91.2% share.  

Healthcare IT Market – Competitive Landscape:

In-depth profiling of key players has been conducted along with recent developments (new product launches & partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the North America healthcare IT market. Some of the major players in the North American healthcare IT market include McKesson Corporation, Oracle Corporation Allscripts Healthcare Solutions, Inc., Nextgen Healthcare, Greenway Medical Technologies, Practice Fusion, Athenahealth, Inc., Philips Healthcare, Infor, Inc., Epic Systems Corporation, GE Healthcare, Siemens Healthcare, Cerner Corporation, Agfa-Gevaert Group, EClinical Works LLC., and Carestream Health among other vernacular players.

 

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