Global Healthcare IT Market - Trends and Forecast to 2024

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Global Healthcare IT Market – Trends and Forecast to 2024

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Global 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 (North America, Europe, Asia-Pacific, South America, Rest of the World) – Trends and Forecast to 2024

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Global Healthcare IT Market is expected to grow to USD 340.9 billion in 2024, from USD 131.0 billion in 2016 and , growing at a CAGR of 12.5% during the forecast period 2017 to 2024. The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

There is a growing inclination across the globe towards the adoption of healthcare IT technologies due to the increasing need to deliver quality care to patients while curtailing escalating healthcare costs. These robust IT solutions are designed to streamline workflow in healthcare systems, reduce expenses, and facilitate compliance with stringent regulatory guidelines. They offer several benefits such as increased patient safety, better patient care, reduced healthcare costs, and high returns on investment (ROIs) through automated workflows.

The global healthcare IT market is broadly divided into three segments—healthcare clinical solutions, non clinical solutions, and HCIT outsourcing services. The healthcare provider solutions market is further segmented into clinical solutions and non-clinical solutions. The clinical healthcare segment is expected to be growing at the highest CAGR of 17.1% in the forecast period 2017 to 2024. While the non clinical market segment is expected to dominate the market for global healthcare IT market in 2017.

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 2016, electronic health records accounted for the majority share in the global clinical solutions market. Some commercially available and widely preferred EHRs across the globe 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 2016, the claims management segment accounted for the largest share of the global healthcare IT payer solutions market.

The global 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.

FIGURE: GLOBAL HEALTHCARE IT MARKET,BY GEOGRAPHY

Healthcare IT Market Geographical Segmentation

Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. North America 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. Europe is the second-largest healthcare IT market. Government initiatives in this region for eHealth and the need to improve the overall efficiency in healthcare organizations are driving market growth for Europe. In 2016, North America is expected to dominate the Global Healthcare IT market with 53.3% share.

Some of the major players in the 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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1. INTRODUCTION

       1.1. OVERVIEW OF THE GLOBAL HEALTHCARE IT MARKET
       1.2. MARKET SEGMENTATION & COVERAGE
               1.2.1. CURRENCY AND PRICING 
               1.2.2. LIMITATION
               1.2.3. STAKEHOLDERS

2. RESEARCH METHODOLOGY

       2.1. KEY TAKEAWAYS
       2.2. ARRIVING AT THE GLOBAL HEALTHCARE IT MARKET SIZE
               2.2.1. MARKET CRACKDOWN APPROACH 
               2.2.2. COMPANY REVENUE AND MARKET SHARE ANALYSIS
               2.2.3. DATA TRIANGULATION
               2.2.4. KEY DATA POINTS FROM PRIMARY SOURCES
               2.2.5. PRODUCT PIPELINE ANALYSIS
               2.2.6. PORTER’S FIVE FORCES MATRIX
      2.3. GLOBAL HEALTHCARE IT MARKET: RESEARCH SNAPSHOT
      2.4. ASSUMPTIONS

3. MARKET LANDSCAPE SUMMARY

4. PREMIUM INSIGHTS

       4.1. OVERVIEW
       4.2. GLOBAL HEALTHCARE IT MARKET: KEY PRIMARY INSIGHTS
       4.3. MARKET OVERVIEW
               4.3.1. DRIVERS
               4.3.2. RESTRAINTS
               4.3.3. OPPURTUNITIES
               4.3.4. THREATS
       4.4. KEY MARKET TRENDS AND UPCOMING TECHNOLOGIES

5. EXECUTIVE SUMMARY

6. HEALTHCARE IT MARKET, BY PRODUCT TYPE

       6.1. OVERVIEW
       6.2. CLINICAL SOLUTIONS
               6.2.1. ELECTRONIC HEALTH RECORDS (EHR)
               6.2.2. PICTURE ARCHIVING AND COMMUNICATION SYSTEMS (PACS)
               6.2.3. COMPUTERIZED PHYSICIAN ORDER ENTRY (CPOE)
               6.2.4. CLINICAL DECISION SUPPORT SYSTEMS (CDSS)
               6.2.5. RADIOLOGY INFORMATION SYSTEMS (RIS)
               6.2.6. RADIATION DOSE MANAGEMENT
               6.2.7. SPECIALTY MANAGEMENT INFORMATION SYSTEMS
               6.2.8. MEDICAL IMAGE PROCESSING AND ANALYSIS SYSTEMS
               6.2.9. HEALTHCARE IT INTEGRATION SYSTEMS
               6.2.10. PRACTICE MANAGEMENT SYSTEMS
               6.2.11. LABORATORY INFORMATION SYSTEMS (LIS)
               6.2.12. OTHERS
      6.3. NON CLINICAL SOLUTIONS
               6.3.1. PHARMACY INFORMATION SYSTEMS (PIS)
               6.3.2. HEALTHCARE ASSET MANAGEMENT
               6.3.3. WORKFORCE MANAGEMENT SYSTEMS
               6.3.4. REVENUE CYCLE MANAGEMENT SOLUTIONS
               6.3.5. MEDICAL DOCUMENT MANAGEMENT SOLUTIONS
               6.3.6. FINANCIAL MANAGEMENT SYSTEMS
               6.3.7. HEALTHCARE INFORMATION EXCHANGE (HIE)
               6.3.8. POPULATION HEALTH MANAGEMENT SOLUTIONS
               6.3.9. HEALTHCARE ANALYTICS
               6.3.10. HEALTHCARE IT OUTSOURCING

7. HEALTHCARE IT MARKET, BY GEOGRAPHY

       7.1. COUNTRYWISE HEALTHCARE IT MARKET, (ALL SEGMENTATION PROVIDED ABOVE IS REPRESENTED IN THIS CHAPTER BY                                COUNTRY)
                7.1.1. NORTH AMERICA
                          7.1.1.1.      U.S.
                          7.1.1.2.      CANADA
                          7.1.1.3.      MEXICO
                7.1.2. EUROPE
                          7.1.2.1.      GERMANY
                          7.1.2.2.      FRANCE
                          7.1.2.3.      U.K.
                          7.1.2.4.      ITALY
                          7.1.2.5.      SPAIN
                          7.1.2.6.      RUSSIA
                          7.1.2.7.      TURKEY
                          7.1.2.8.      BELGIUM
                          7.1.2.9.      NETHERLANDS
                          7.1.2.10.      SWITZERLAND
                          7.1.2.11.    REST OF EUROPE
                7.1.3. ASIA-PACIFIC (APAC)
                           7.1.3.1.      JAPAN
                           7.1.3.2.      CHINA
                           7.1.3.3.      SOUTH KOREA
                           7.1.3.4.      INDIA
                           7.1.3.5.      AUSTRALIA
                           7.1.3.6.      SINGAPORE
                           7.1.3.7.      THAILAND
                           7.1.3.8.      MALAYSIA
                           7.1.3.9.      INDONESIA
                           7.1.3.10.      PHILIPPINES
                           7.1.3.11.      REST OF APAC
                7.1.4. LATIN AMERICA
                           7.1.4.1.     BRAZIL
                           7.1.4.2.     REST OF LATIN AMERICA
                7.1.5. MIDDLE EAST AND AFRICA
                           7.1.5.1.     SOUTH AFRICA
                           7.1.5.2.     REST OF MIDDLE EAST AND AFRICA
       7.2. KEY PRIMARY INSIGHTS: BY MAJOR COUNTRIES

8. HEALTHCARE IT MARKET: COMPETITIVE LANDSCAPE

        8.1. GLOBAL HEALTHCARE IT MARKET: COMPANY SHARE ANALYSIS
        8.2. U.S. HEALTHCARE IT MARKET: COMPANY SHARE ANALYSIS
        8.3. EUROPE HEALTHCARE IT MARKET: COMPANY SHARE ANALYSIS
        8.4. APAC HEALTHCARE IT MARKET: COMPANY SHARE ANALYSIS
        8.5. SOUTH AMERICA HEALTHCARE IT MARKET: COMPANY SHARE ANALYSIS
        8.6. MIDDLE EAST AND AFRICA  HEALTHCARE IT MARKET: COMPANY SHARE ANALYSIS
        8.7. MERGERS & ACQUISITIONS
        8.8. NEW PRODUCT DEVELOPMENT & APPROVALS
        8.9. EXPANSIONS
        8.10. REGULATORY CHANGES
        8.11. PARTNERSHIP AND OTHER STRATEGIC DEVELOPMENTS

9. HEALTHCARE IT MARKET, COMPANY PROFILES

       9.1. MCKESSON CORPORATION
                9.1.1. COMPANY OVERVIEW
                9.1.2. SWOT ANALYSIS
                9.1.3. REVENUE ANALYSIS
                9.1.4. PRODUCT PORTFOLIO
                9.1.5. RECENT DEVELOPEMENTS
                9.1.6. DATA BRIDGE ANALYSIS
       9.2. ORACLE CORPORATION ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.
                9.2.1. COMPANY OVERVIEW
                9.2.2. SWOT ANALYSIS
                9.2.3. REVENUE ANALYSIS
                9.2.4. PRODUCT PORTFOLIO
                9.2.5. RECENT DEVELOPEMENTS
                9.2.6. DATA BRIDGE ANALYSIS
       9.3. NEXTGEN HEALTHCARE                                                                                                                                   
                9.3.1. COMPANY OVERVIEW
                9.3.2. SWOT ANALYSIS
                9.3.3. REVENUE ANALYSIS
                9.3.4. PRODUCT PORTFOLIO
                9.3.5. RECENT DEVELOPEMENTS
                9.3.6. DATA BRIDGE ANALYSIS
       9.4. GREENWAY MEDICAL TECHNOLOGIES
                9.4.1. COMPANY OVERVIEW
                9.4.2. SWOT ANALYSIS
                9.4.3. REVENUE ANALYSIS
                9.4.4. PRODUCT PORTFOLIO
                9.4.5. RECENT DEVELOPEMENTS
                9.4.6. DATA BRIDGE ANALYSIS
       9.5. PRACTICE FUSION
                9.5.1. COMPANY OVERVIEW
                9.5.2. SWOT ANALYSIS
                9.5.3. REVENUE ANALYSIS
                9.5.4. PRODUCT PORTFOLIO
                9.5.5. RECENT DEVELOPEMENTS
                9.5.6. DATA BRIDGE ANALYSIS
       9.6. ATHENAHEALTH, INC.
                9.6.1. COMPANY OVERVIEW
                9.6.2. SWOT ANALYSIS
                9.6.3. REVENUE ANALYSIS
                9.6.4. PRODUCT PORTFOLIO
                9.6.5. RECENT DEVELOPEMENTS
                9.6.6. DATA BRIDGE ANALYSIS
       9.7. PHILIPS HEALTHCARE, INFOR, INC.
                9.7.1. COMPANY OVERVIEW
                9.7.2. SWOT ANALYSIS
                9.7.3. REVENUE ANALYSIS
                9.7.4. PRODUCT PORTFOLIO
                9.7.5. RECENT DEVELOPEMENTS
                9.7.6. DATA BRIDGE ANALYSIS
       9.8. EPIC SYSTEMS CORPORATION
                9.8.1. COMPANY OVERVIEW
                9.8.2. SWOT ANALYSIS
                9.8.3. REVENUE ANALYSIS
                9.8.4. PRODUCT PORTFOLIO
                9.8.5. RECENT DEVELOPEMENTS
                9.8.6. DATA BRIDGE ANALYSIS
       9.9. GE HEALTHCARE, SIEMENS HEALTHCARE
                9.9.1. COMPANY OVERVIEW
                9.9.2. SWOT ANALYSIS
                9.9.3. REVENUE ANALYSIS
                9.9.4. PRODUCT PORTFOLIO
                9.9.5. RECENT DEVELOPEMENTS
                9.9.6. DATA BRIDGE ANALYSIS
       9.10. CERNER CORPORATION
                   9.10.1. COMPANY OVERVIEW
                   9.10.2. SWOT ANALYSIS
                   9.10.3. REVENUE ANALYSIS
                   9.10.4. PRODUCT PORTFOLIO
                   9.10.5. RECENT DEVELOPEMENTS
                   9.10.6. DATA BRIDGE ANALYSIS
       9.11. AGFA-GEVAERT GROUP
                   9.11.1. COMPANY OVERVIEW
                   9.11.2. SWOT ANALYSIS
                   9.11.3. REVENUE ANALYSIS
                   9.11.4. PRODUCT PORTFOLIO
                   9.11.5. RECENT DEVELOPEMENTS
                   9.11.6. DATA BRIDGE ANALYSIS
       9.12. ECLINICAL WORKS LLC.
                   9.12.1. COMPANY OVERVIEW
                   9.12.2. SWOT ANALYSIS
                   9.12.3. REVENUE ANALYSIS
                   9.12.4. PRODUCT PORTFOLIO
                   9.12.5. RECENT DEVELOPEMENTS
                   9.12.6. DATA BRIDGE ANALYSIS
       9.13. CARESTREAM HEALTH
                   9.13.1. COMPANY OVERVIEW
                   9.13.2. SWOT ANALYSIS
                   9.13.3. REVENUE ANALYSIS
                   9.13.4. PRODUCT PORTFOLIO
                   9.13.5. RECENT DEVELOPEMENTS
                   9.13.6. DATA BRIDGE ANALYSIS

10. APPENDIX

11. ABOUT DATA BRIDGE MARKET RESEARCH

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