healthcare IT market size reached USD 201.23 Billion in 2020 and is expected to be valued at USD 549.95 Billion in 2027 and register a steady CAGR during the forecast period, according to latest analysis by Emergen Research. This steady growth can be attributed to increasing government initiatives to implement Healthcare Information Technology (HCIT) solutions in the healthcare sector in developing countries and preference for digital payments in the healthcare industry. Adoption of paperless technology and solutions in the healthcare industry has been increasing rapidly in the past few years and this is expected to further boost growth of the global healthcare IT market growth during the forecast period.

High deployment and maintenance costs of healthcare IT solutions are key factors expected to restrain deployment, and hamper growth of the global healthcare IT market to a certain extent going ahead.

The study is a professional probe into the revenue generated and capacity estimates for the Healthcare IT market for the forecast period 2021 – 2028 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors. 

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Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.

Prominent Players Analyzed in the Report:

• Cerner Corporation, Oracle Corporation, Epic System Corporation, SAP SE, NextGen Healthcare Inc., Cognizant Technology Solutions, Wipro Limited, Tata Consultancy Services Limited, Dell Technologies Inc., and Allscripts Healthcare Solutions, Inc.

The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2021-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Highlights in the Report

• In January 2021, the American Hospital Dubai – which is a division of Mohamed & Obaid Al Mulla Group – in collaboration with the multinational digital healthcare company Cerner Corporation, declared the very first findings of one of the prototypes from its data lab on Artificial Intelligence (AI). The lab serves as a model in the region to develop clinically driven AI techniques with validated predictive model results to support the healthcare industry.
• Deployment of IT healthcare services has been increasing rapidly as services provided include maintenance and technical support, and this is driving revenue growth of the service segment to a significant extent.
• Due to enhanced data and information security, deployment of on-premise IT healthcare solution is increasing, which is expected to continue to support revenue growth of the on-premise segment during the forecast period.
• The electronic health records segment accounted for largest revenue share in the global healthcare IT market in 2020 owing to rising adoption of EHR system across the healthcare sector. In addition, increasing government initiatives to implement EHR systems in healthcare facilities to enhance patient care is propelling revenue growth of the electronic health records segment.

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The study segments the complete Healthcare IT market on the basis of different application, end-use, end-user, and production capability. From a business standpoint, the industry has been thoroughly examined across various countries located in North America, Europe, Asia-Pacific, and others. The size of the industry for the forecast period 2021 – 2028 is evaluated on the basis of current sales figures and past financial report can be used to forecast the future sales.

Emergen Research has segmented the global healthcare IT market on the basis of component, delivery, application, end-use, and region.

• Component Outlook (Revenue, USD Billion; 2017–2027)
  • Hardware
  • Software
  • Service

• Delivery Outlook (Revenue, USD Billion; 2017–2027)
  • Cloud-based
  • On-premises

• Application Outlook (Revenue, USD Billion; 2017–2027)
  • Electronic Prescribing System
  • Laboratory Information System
  • Tele-health
  • Computerized Provider Order Entry System
  • Electronic Health Records
  • Picture Archiving and Communication System
  • Healthcare Analytics
  • Radiology information system
  • mHealth
  • Fraud management
  • Vendor-neutral archive
  • Revenue cycle management
  • Customer relationship management
  • Others

• End-use Outlook (Revenue, USD Billion; 2017–2027)
  • Healthcare Payer
    1. Public Payers
    2. Private Payers
  • Healthcare Provider
    1. Pharmacies
    2. Ambulatory clinical centers
    3. Diagnostic and imaging centers
    4. Hospitals
    5. Others

Overview of the Healthcare IT Market Report:

• Introduction, Product Scope, Market Overview, and Opportunities
• Analysis of the Manufacturers with sales, revenue, and price analysis
• Comprehensive analysis of the competitive landscape
• Extensive profiling of the key competitors along with their business strategies and market size
• Regional analysis of the market along with sales, revenue, market share, and global position
• Country-wise analysis of the market along with types, applications, and manufacturing
• Strategic recommendations to established players as well as new entrants
• In-depth analysis of the risks, restraints, and limitations in the Healthcare IT industry

Quick Buy –  Healthcare IT Market Research Report: https://www.emergenresearch.com/select-license/537

The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

The research provides answers to the following key questions:

• What will be the size and the growth rate of the Healthcare IT market for the forecast period 2021 – 2028?
• What are key drivers believed to shape the future of the market during the estimated period?
• What are the prominent industry players dominating the Healthcare IT market during the forecast period?
• What are the major trends influencing the development of the industry?
• What are the key challenges likely to hinder the progress of the market?
• What are major opportunities and threats encountered by the business owners operating in the business vertical?

Thank you for reading our report. Please connect with us to know more about the report or the customization of the report. Our team will ensure the report is best suited to meet your requirements.

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