Market Overview

Healthcare IT Market is projected to achieve a value of USD 320.3 Million in 2023, with a linear behaviour in the market growth it is forecasted to achieve a value of USD 770 Million by 2033 with a CAGR of 10.3% during the forecast period 2023-2033.

Healthcare IT is a branch of Information technology includes Creating, designing, developing and maintain the information in health care industry. For transforming and development of Health care, Healthcare IT offers a numerous opportunities and advantages like reducing human error, increasing clinical outcomes, facilitating care coordination and recording data over time.

Healthcare IT market is a rapidly growing because of the increasing the uses of smartphones, growing adoption of e- prescribing, adoption of cloud technology related HCIT services. Moreover market possess an increasing future with having some challenges that need to be address to reach in a wider range such as data security and privacy, chances of losing essential data.

Market Scope

Market Dynamics

Healthcare IT market is driven by digitalisation and adoption of teleconsultation in health care industry. For instance, In September 2021 The Indian Prime Minister introduce the Pradhan Mantri Digital Health mission, which is an initiative aimed of digitizing healthcare services in nation.

During the pandemic of COVID-19 with the lockdown and restriction for not going outside, travel and hospital visit in fear of contamination of SARS-CoV-2 Virus, digital healthcare witnessed a spike in a healthcare system. In such situation adoption of teleconsultation is increasing rather than face-to-face consultation.  For instance, according to the study publish in Journal of American Pharmacist Association in April 2021, the uses of Healthcare IT increasing rapidly.

Moreover, the uses of internet and digitalisation of healthcare is essential for the better understanding and utilization of healthcare information technology and impact on health communication. Additionally, the increasing adoption of Healthcare IT in hospital services is beneficial to use and saving time, space and labour.

Outpatients care services is useful to reduce, the increasing health cost and rising the pressure on hospitals. The outpatient’s surgery centre procedure is estimated low cost than the inpatient hospital settings. Additionally, Convenience is the another important factor driving to increase ambulatory care. Due to the increase in outpatient settings and patient’s influx, the demand for Healthcare IT in outpatient setting will increase.

Market Product Analysis

By product type, the Healthcare IT Market is Categorise into Healthcare Provider Solutions, Healthcare Payer Solutions, and HCIT Outsourcing Services. The Healthcare Provider Solutions segment accounts for the largest share of around 53% of the market in 2022.this is because of rise in the quality healthcare services and solutions, increase in demand of patient safety and care.

Market End User

 By End user type, the Healthcare IT Market is Categorise into Hospitals, Pharmacies, payers. Hospitals segment accounts for the largest share of around 53% of the market in 2022. This is due to the increase in demand of Healthcare IT solution in hospital in order to manage the increasing burden of managing patient information in hospital.

Pharmacies is another major segment in Healthcare IT market. The segment having rapid growth because of the online pharmacies platforms in the market. Payer is another important segment in. Payer segment is further bifurcate in to private payer and Public payer. The segment expected to register a higher growth in 2022-2033.

Market Regional Analysis

North America is the largest region for Healthcare IT market, accounting for over 48.5% of the global market share. This is because of the early adoption of IT services and a well establishment of healthcare industry.

Asia-pacific is the second-largest market for Healthcare IT, accounting for over 25% of the global market share. This is because of increasing population growth and development in healthcare industry.

Europe is third market for Healthcare IT, accounting for 20% of the global market share. This is because of increase in investment in healthcare industry.

The Middle East & Africa (MEA) and Latin America are emerging regions for Healthcare IT industry. The region has a growing demand for Healthcare IT market.

Competitive Analysis

The Healthcare IT market is dominated by a few large companies, such as Oracle, Parexel International Corporation, OpenClinica, LLC, IQVIA, Allscripts healthcare Solutions INC., EPIC System Corporation, Mckesson Corporation, Sharecare, Clario, Dassault Systèmes, ModMed OBGYN,Cerner corporation.

There Are Some Of The Recent Developments Of The Healthcareit Market:

·         In 2022, Sharecare launched Smart Omix which allows digital biomarker creation and real-world data collection with the help of mobile research studies. Smart Omix's capabilities play an essential role in evolving relevance, equity, and data integrity in clinical research across the healthcare continuum.

·         In May 2022, Modmed launched an OBGYN-specific software suite. ModMed OBGYN is an all-in-one EHR, practice management, patient engagement, payments, image and inventory management, and analytics solution that will bring practice and workflow innovation to obstetrics and gynecology.

By Product

·         Healthcare Provider Solutions

·         Healthcare Payer Solutions

·         HCIT Outsourcing Services

By End User

·         Hospitals

·         Pharmacies

·         Payers

1.      Global Healthcare IT Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Healthcare IT Market Scope and Market Estimation

1.2.1. Global Healthcare IT Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2033)

1.2.2. Global Healthcare IT Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033

1.3.    Market Segmentation

1.3.1. Product of Global Healthcare IT Market

1.3.2. End User of Global Healthcare IT Market

1.3.3. Region of Global Healthcare IT Market

2.      Executive Summary

2.1.    Global Healthcare IT Market Industry Trends under COVID-19 Outbreak

2.1.1. Global COVID-19 Status Overview

2.1.2. Influence of COVID-19 Outbreak on Global Healthcare IT Market Industry Development

2.2.    Market Dynamics

2.2.1. Drivers

2.2.2. Limitations

2.2.3. Opportunities

2.2.4. Impact Analysis of Drivers and Restraints

2.3.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.    Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.    Porter’s Five Forces Analysis

2.5.1. Bargaining Power of Suppliers

2.5.2. Bargaining Power of Buyers

2.5.3. Threat of Substitutes

2.5.4. Threat of New Entrants

2.5.5. Competitive Rivalry

2.6.    Value Chain / Ecosystem Analysis

2.7.    Russia-Ukraine War Impacts Analysis

2.8.    Economic Downturn Analysis

2.9.      Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.      Global Healthcare IT Market Estimates & Historical Trend Analysis (2019 - 2022)

4.      Global Healthcare IT Market Estimates & Forecast Trend Analysis, by Product

4.1.    Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by Product, 2019 to 2033

4.1.1. Healthcare Provider Solutions

4.1.2. Healthcare Payer Solutions

4.1.3. HCIT Outsourcing Services

5.      Global Healthcare IT Market Estimates & Forecast Trend Analysis, by End User

5.1.    Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by End User, 2019 to 2033

5.1.1. Hospitals

5.1.2. Pharmacies

5.1.3. Payers

6.      Global Healthcare IT Market Estimates & Forecast Trend Analysis, by Region

6.1.    Global Healthcare IT Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033

6.1.1. North America

6.1.2. Europe

6.1.3. Asia Pacific

6.1.4. Middle East & Africa

6.1.5. South America

7.      North America Healthcare IT Market: Estimates & Forecast Trend Analysis

7.1.    North America Healthcare IT Market Assessments & Key Findings

7.1.1. North America Healthcare IT Market Introduction

7.1.2. North America Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

7.1.2.1.   By Product

7.1.2.2.   By End User

7.1.2.3.   By Country

7.1.2.3.1.     The U.S.

7.1.2.3.2.     Canada

7.1.2.3.3.     Mexico

8.      Europe Healthcare IT Market: Estimates & Forecast Trend Analysis

8.1.    Europe Healthcare IT Market Assessments & Key Findings

8.1.1. Europe Healthcare IT Market Introduction

8.1.2. Europe Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

8.1.2.1.   By Product

8.1.2.2.   By End User

8.1.2.3.        By Country

8.1.2.3.1.     Germany

8.1.2.3.2.     U.K.

8.1.2.3.3.     France

8.1.2.3.4.     Italy

8.1.2.3.5.     Spain

8.1.2.3.6.     Russia

8.1.2.3.7.     Rest of Europe

9.      Asia Pacific Healthcare IT Market: Estimates & Forecast Trend Analysis

9.1.    Asia Pacific Market Assessments & Key Findings

9.1.1. Asia Pacific Healthcare IT Market Introduction

9.1.2. Asia Pacific Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

9.1.2.1.   By Product

9.1.2.2.   By End User

9.1.2.3.        By Country

9.1.2.3.1.     China

9.1.2.3.2.     Japan

9.1.2.3.3.     India

9.1.2.3.4.     Australia

9.1.2.3.5.     South Korea

9.1.2.3.6.     ASEAN

9.1.2.3.7.     Rest of Asia Pacific

10.  Middle East & Africa Healthcare IT Market: Estimates & Forecast Trend Analysis

10.1.  Middle East & Africa Market Assessments & Key Findings

10.1.1.   Middle East & Africa Healthcare IT Market Introduction

10.1.2.   Middle East & Africa Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

10.1.2.1.    By Product

10.1.2.2.    By End User

10.1.2.3.    By Country

10.1.2.3.1. U.A.E.

10.1.2.3.2. Saudi Arabia

10.1.2.3.3. Egypt

10.1.2.3.4. South Africa

10.1.2.3.5. Rest of Middle East & Africa

11.  South America Healthcare IT Market: Estimates & Forecast Trend Analysis

11.1.  South America Market Assessments & Key Findings

11.1.1.   South America Healthcare IT Market Introduction

11.1.2.   South America Healthcare IT Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

11.1.2.1.    By Product

11.1.2.2.    By End User

11.1.2.3.    By Country

11.1.2.3.1. Brazil

11.1.2.3.2. Argentina

11.1.2.3.3. Colombia

11.1.2.3.4. Rest of South America

12.  Competition Landscape

12.1.  Global Healthcare IT Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

12.2.  Global Healthcare IT Market Competition White Space Analysis, By End-user

12.3.  Global Healthcare IT Market Competition Heat Map Analysis, By End-user

12.4.  Global Healthcare IT Market Concentration & Company Market Shares (%) Analysis, 2022

13.  Company Profiles

13.1.                     Oracle

13.1.1.   Company Overview & Key Stats

13.1.2.   Financial Performance & KPIs

13.1.3.   Product Portfolio

13.1.4.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

13.2.      Parexel International Corporation

13.3.      OpenClinica

13.4.      LLC

13.5.      IQVIA

13.6.      Allscripts healthcare Solutions INC.

13.7.       EPIC System Corporation

13.8.      Mckesson Corporation

13.9.      Sharecare

13.10.  Clario

13.11.  Dassault Systèmes

13.12.  ModMed OBGYN

13.13.  Cerner corporation

14.  Research Methodology

14.1.  External Transportations / Databases

14.2.  Internal Proprietary Database

14.3.  Primary Research

14.4.  Secondary Research

14.5.  Assumptions

14.6.  Limitations

14.7.  Report FAQs

15.  Research Findings & Conclusion