Healthcare IT Market will be growing at a CAGR of 9.6% during the forecast 2020 to 2030

According to a new market research report published by sheer analytics and insights, “The Global Healthcare IT Market was $215.4 Bn in 2020, and it is expected to reach $540.3 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 9.6% between 2020-2030″, as per the latest market research report titled Global Healthcare IT Market – Global industry analysis, size, share, growth, trends, and forecast, 2019-2030.

Market Insights:

Increased usage of information technology in Healthcare is in the phase of implementation across all countries. IT systems have many advantages which help the healthcare professional to manage patients and their record and also training. Virtual Reality and Augmented Reality have boosted the overall experience of healthcare education too. It has been used for teaching and training in most of the developed nations. Healthcare technologies such as monitoring, recording and record keeping is one of the most sorted out platforms required by almost all medical centers. New technologies development year on year is helping the healtcare sector to deliver services more efficiently and effectively.

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Healthcare IT is becoming more prevalent in different healthcare settings to enhance the quality and efficiency of care delivered as assist cost reduction. It is a cloud-based computing system that detects and identifies the disease very efficiently. Increasing investment, growing income per capita, and rising awareness of advanced technology are driving the growth of the global healthcare IT market. However, the growing integration of technology in the health department has emerged as a highly beneficial combination for the medical industry. The increasing penetration of cloud-based services is boosting the growth of the healthcare IT market.

Moreover, the current pandemic of the COVID-19 effect on the Healthcare IT market. The growth rate graph changed slightly due to the pandemic situation. As per the report in the last few months, the number of people visits the diagnostics center has been reduced majorly, despite the OPD services, and an emergency is available in the hospitals. But it is expected that, after the pandemic of COVID-19, the market growth will reach a high position in the growth rate graph. Apart from that, the increasing health centers across the world are anticipated to offer significant opportunities for market growth in the next forecast period of 2020 to 2030.

Geographically, The Healthcare IT Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.   

The report covers a detailed outlook of the company, and it includes the market share and company or industry profiles of key players operating in the global market. Key players in the report include Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare (Netherlands), Epic Systems (US), Dell Technologies (US), Allscripts (US), GE Healthcare (US), IBM (US), Athenahealth (US), Oracle Corporation (US), COnduent (US), Infor (US), Tata Consultancy Services (India), Wipro Limited (India), Conifer Health (US), Nuance (US), 3M (US), Inovalon (US), InterSystems (US), Leidos (US), Softheon (US), Omnicell (US), and Ciox Health (US). among others.

The Global Healthcare IT Market Has Been Segmented into:

Global Healthcare IT Market: By Product & Services

·         Introduction

·         Healthcare Provider Solutions

o   Clinical Healthcare IT Solutions

o   Non-Clinical Healthcare IT Solutions

o   Drivers

·         Healthcare Payer Solutions

o   Claims Management

o   Customer Relationship Management

o   Fraud Analysis

o   Provider Network Management

o   Pharmacy Audit & Analysis

o   Member Eligibility Management

o   Population Health Management

o   Payment Management System

·         HCIT Outsourcing Services

o   Provider HCIT Outsourcing Services

o   Payer HCIT Outsourcing

o   It Infrastructure Management Services

Global Healthcare IT Market: By Component 

  • Services
  • Software
  • Hardware

Global Healthcare IT Market: By Applications

·         Healthcare Providers

o   Hospital

o   Ambulatory care centers

o   Home healthcare agencies

o   Nursing homes

o   Assisted living facilities

o   Diagnostics and imaging centers

o   Pharmacies

·         Healthcare Payers

o   Private

o   Public

By Geography

  • North America (U.S. and Rest of North America)
  • Europe (U.K., Germany, France, and Rest of Europe)
  • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

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About Us:

Sheer Analytics and Insights as firm is created to balance between client requirements without compromising the core values of Market research in –terms of quality, factual correctness, market awareness and analysis. SAI goes back to the root of Market Research in terms of TAM (Total Available Market) and PAM (Potential Available Market) and assess the same quantifying all Push and Pull factors.

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Abhigyan Sengupta

Sheer Analytics and Insights

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