The
healthcare industry is witnessing rapid technology enabled changes. Doctors and
Physicians are leveraging digital technology to deliver better healthcare
services and create effective system across the healthcare value chain.
Healthcare information technology is expected to grow at a robust rate during
the forecast period creating substantial opportunity for players across world.
Emergence of various lifestyle and therapeutic application based apps has also
boosted the market. Though the industry is expected to witness upward
trajectories, industry leaders might face stiff competition from new entrants
as well as changing technology dynamically. The industry leaders need to keep
abreast with technology to differentiate them from rest.
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At
present, the information technology has become an integral part of the
healthcare settings or infrastructures as it help address the requirements of
today and be prepared for tomorrow. Modern high-tech hospitals and other
healthcare settings make available a unified matrix of patient records, imaging
results as well as his medical history and related information. The healthcare
(HC) IT services, which is provided by a range of global HC solution and service
providers help furnish the right information at the right place at the right
time. Therefore, healthcare information technology solutions and services help
enable improved patient care with superior hospital management.
Process Execution and emergence of
healthcare apps has drastically boosted healthcare information technology in
last few years
Healthcare
information technology is gaining prominence across the world owing to its
added advantages including better access to patient information. Introduction
of social media platform along with handy mobile devices has bridged the gap
between payers and providers. Moreover, big data concept has led chained
hospitals to understand the patient in more logical way thereby driving the
market to its high potential.
Increasing
number of surgical interventions, rising demand for improved healthcare
services, demand for high-tech hospitals and clinics and increasing patient
population would further boost the healthcare IT services market globally.
Demand for improved healthcare services are increasing due to increasing
incidences of chronic health issues, such as hypercholesterolemia, diabetes and
rising number of infectious diseases and rising geriatric population of the
world.
Market Taxonomy:
Coherent Market Insights has segmented the
industry into:
- · By Application
- · By End-use
- · Platform
- · By Services
By
end-use, healthcare information technology services can be categorized into
four major segments – hospitals, laboratories, pharmacies, and other healthcare
institutions.
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On
the basis of platform, healthcare information technology market is segmented
into on-premise, web-based, and cloud based servers.
On the basis of services, healthcare
information technology services are segmented as:
- · Medical Imaging Professional Services
- · Revenue Cycle Management Services for Hospitals
- · Accountable Care Organization Services
- · Document Management Services
- · Business and Regulatory Support Services
- · Managed Services
- · Point-of-care Decision Support Services
- · Evidence-Based Decision Support Services
- · Ordering and Inventory Management Services
- · Homecare & Hospice Support Services
- · Medical Billing and Coding Services for Physicians
- · Practice Consulting Services
- · Patient Care Solutions & Services
- · Other Medical-Surgical-Laboratory Services
Need for integration of payers and provider
to optimize cost and service efficiency is expected to reshape the healthcare
IT industry in North America
Geographically,
North America accounted for the largest market for healthcare information
technology services followed by Europe. These regions dominate the overall
healthcare IT services market owing to presence of healthcare infrastructure.
However, Asia Pacific is expected to be the most lucrative market for different
healthcare IT services due to the improving healthcare awareness, rise in
healthcare expenditure, booming IT industry and patient demographics. Asia
Pacific is mainly driven by China and India. As per the estimates, China and
India are expected to account for over 50% of regional market by 2024.
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Healthcare information technology services
market is consolidated with leading players accounting for major share of the
market
Some of the major players operating in the
healthcare IT services market include, Carestream Health, Inc., Epic
Systems Corporation, Cerner Corporation, GE Healthcare, McKesson Corporation,
NextGen Healthcare Information Systems, LLC, Philips Healthcare, Merge
Healthcare Incorporated, Agfa HealthCare NV, and Siemens Healthcare among
others.
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