Healthcare IT Market Growth, Revenue Share Analysis, Company Profiles, and Forecast to 2027

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Increasing government initiatives to implement Healthcare Information Technology (HCIT) solutions in healthcare sector and growing preference for digital payments in the healthcare sector are key factors driving healthcare IT market growth.     

The report’s authors have offered necessary details on the latest Healthcare IT market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Healthcare IT market entails useful insights into the estimated Healthcare IT market size, revenue share, and sales distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future.

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.

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.

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Key questions addressed in the report:

  • What are the key factors driving the global Healthcare IT market?
  • Who are the key manufacturers in this market space?
  • Who are the distributors, traders and dealers of this market?
  • What are the market opportunities and risks affecting the performance of the vendors in the global Healthcare IT market?
  • What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?

Regional Analysis –

The research report is an investigative study providing a conclusive view of the Healthcare IT business sphere by an in-depth segmentation of the market into key applications, types, and regions. These segments are analyzed on the basis of present, emerging, and future trends. The regional segmentation provides current and forecast demand estimation for the Healthcare IT industry in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa.

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.

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

Highlights in the Report

  • 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 healthcare provider segment is expected to dominate other end-use segments in terms of revenue share contribution to the global healthcare IT market during the forecast period.
  • North America is projected to dominate other regional markets in terms of revenue share contribution to the global healthcare IT market over the forecast period.

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