Vancouver, BC -- (SBWIRE) -- 04/15/2021 -- The global 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.

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Some 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.
Key market participants include 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.

Healthcare IT Market Segmentation:

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
Public Payers
Private Payers
Healthcare Provider
Pharmacies
Ambulatory clinical centers
Diagnostic and imaging centers
Hospitals
Others

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Additional information offered by the report:

A complete overview of the global Healthcare IT market.
Detailed examination of the various market dynamics, including drivers, opportunities, challenges, threats, constraints, and development prospects prevailing in the global market.
Diverse market trends observed on regional and global levels. The report also elaborates on the market size and shares governed by the major geographies, combined with a precise growth forecast analysis, cost analysis, micro- and macro-economic indicators, and regulatory framework.
A vivid analysis of the company profiles of the key market contenders operating in the global Healthcare IT market.
Extensive research & development assessment, and a detailed study of the growing demand for new products and the increasing application of the existing and new products.

Table of Content

Chapter 1. Methodology & Sources
    1.1. Market Definition
    1.2. Research Scope 
    1.3. Methodology
    1.4. Research Sources
          1.4.1. Primary
          1.4.2. Secondary
          1.4.3. Paid Sources
    1.5. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Healthcare IT Market Segmentation & Impact Analysis
    4.1. Healthcare IT Market Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
                    4.2.2.1. The rising government initiatives to adopt Healthcare Information Technology (HCIT) solution in healthcare organization
                    4.2.2.2. The increasing focus to reduce healthcare operational cost
                    4.2.2.3. Rising adoption of mHealth applications
                    4.2.2.4. The increasing demand for cashless payment process
          4.2.3. Market restraints analysis
                    4.2.3.1. The high cost of implementation and maintenance
                    4.2.3.2. Inability to shift towards advanced technology of healthcare providers 
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. Porter's Five Forces Analysis
    4.6. Competitive Metric Space Analysis
    4.7. Price trend Analysis
    4.8. Covid-19 Impact Analysis

Chapter 5. Healthcare IT Market By Component Insights & Trends Revenue (USD Billion)  
    5.1. Component Dynamics & Market Share, 2019 & 2027
          5.1.1. Hardware
          5.1.2. Software
          5.1.3. Service

CONTINUED..!!

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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