Healthcare IT Market Revenue to Cross USD 535 Bn by 2026: Global Market Insights, Inc.
Major healthcare IT market players include McKesson Corporation, Siemens Healthineers, Oracle Corporation, Cerner Corporation, GE Healthcare, Agfa Healthcare, Allscripts Healthcare Solutions and elicnicalWorks.
SELBYVILLE, Del., August 18, 2020 (Newswire.com) - According to the latest report "Healthcare Information Technology (IT) Market by Solution (Radiology Information Systems, Electronic Health Record, Picture Archiving and Communication Systems, Computerized Physician Order Entry, Vendor Neutral Archives, mHealth, Healthcare Analytics, Telehealth, Supply Chain Management, Customer Relationship Management, Fraud Management, Revenue Cycle Management), End-use (Healthcare Providers {Hospitals, Pharmacies, Diagnostic and Imaging Centers, Ambulatory Clinical Units}, Healthcare Payer {Private, Public}), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of healthcare information technology (IT) will cross $535.6 billion by 2026.
The growing prevalence of chronic conditions, increasing demand for advanced healthcare services and growing investment towards improving healthcare infrastructure will drive revenue for the healthcare IT market. Furthermore, implementation of advanced technologies and streamlining of healthcare processes will enable cost-saving.
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The mHealth segment accounted for more than 12.8% of healthcare IT market revenue share in 2019. The mHealth industry is primarily comprised of health-related mobile applications and wearable devices. For instance, Kardia mobile device is the AliveCor's FDA & EU Class II approved mobile technology used in clinical research. The device is the most clinically authorized mobile ECG system that enables its users to yield an active role in their cardiac health.
Asia Pacific healthcare information technology (IT) market is expected to grow at a significant pace during the forecast timeframe due to rising disposable incomes and changing healthcare infrastructure in the region. Initiatives and programs launched by various governments of health council will further offer lucrative growth in the APAC market.
Pharmacies end-use segment held over 13.3% healthcare IT market share in 2019. Changing healthcare practices and increasing inclination towards utilization of health IT solutions also demands the pharmacists to employ a range of healthcare IT solutions. Additionally, electronic prescribing (e-prescribing) is a rapidly emerging system that is being installed by many pharmacies across developing countries. It encourages adoption of health information technology owing to its potential to enhance patient safety by decreasing medication errors.
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A few notable companies operating in the healthcare IT market include McKesson Corporation, Siemens Healthineers, Oracle Corporation, Cerner Corporation, GE Healthcare, Agfa Healthcare, Allscripts Healthcare Solutions and eClinicalWorks among others. Industry players are focusing on various strategies such as novel product launches, acquisition and business expansion to consolidate their market presence. For instance, in February 2018, eClincalWorks launched a cloud-based platform for acute care EHR. The platform enabled the regular flow of information between acute care settings and ambulatory. This strategy enabled the company to expand its EHR portfolio.
Table of Contents (ToC) of the report:
Chapter 3. Healthcare Information Technology (IT) Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.4.1. By solution
3.4.2. By end-use
3.5. COVID-19 impact analysis
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Technology landscape
3.8. Porter's analysis
3.9. Competitive landscape
3.9.1. Company matrix analysis, 2019
3.10. PESTEL analysis
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Source: Global Market Insights, Inc.
