Healthcare IT Market – Forthcoming Trends to Feed the Technological Innovations in Global Industry

India, India, 2021-Jun-21 — /EPR Network/ —

Overview of This Study:

This study involved four major activities in estimating the current size of the Healthcare Information Technology Market. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the sizes of segments and subsegments.

Secondary Research:

In the secondary research process, various secondary sources such as annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles by recognized authors; trade directories; and databases such as D&B Hoovers and Bloomberg Businessweek were referred to identify and collect information for this study.

Primary Research:

The healthcare IT market comprises several stakeholders such as hospitals (small, mid-size, and large hospitals), ambulatory centers, diagnostic centers, TPAs, and stakeholders in corporate & government bodies. Primary sources from the supply side, including CEOs, vice presidents, marketing and sales directors, business development managers, technology and innovation directors of healthcare IT developing companies, suppliers, and distributors, have been considered. Demand-side primary sources include industry experts such as directors of hospitals and clinics, hospital & clinic managers, physicians, research scientists, and related key opinion leaders.

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The healthcare provider solutions segment is expected to grow at the highest CAGR during the forecast period

The healthcare provider solutions segment is expected to grow at the highest CAGR in the healthcare IT market, by product and services, during the forecast period. This is attributed to government initiatives to improve the quality of patient care and the need to control growing healthcare costs & improve the efficiency of healthcare services.

The non-clinical segment of healthcare providers solutions to witness the highest growth from 2019-2024

The non-clinical solutions is expected to grow at the highest CAGR in Healthcare Information Technology Market. Technological innovations in the field of IT have led to the development of customized software platforms as per healthcare providers’ requirement. This is boosting the adoption of healthcare IT solutions among end users. In addition, the reduction in reimbursements, loss of revenue due to lack of proper documentation and stringent regulations for quality management are driving the market for non-clinical segment.

Key Questions Addressed in the Report

• Who are the top 10 players operating in the healthcare IT market?
• What are the driving factors, restraints, opportunities, and challenges in the market?
• What are the industry trends as well as the current scenario in the healthcare IT market?
• What are the growth trends in the market at the segmental and overall market levels?

Asia Pacific market to witness the highest growth during the forecast period

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. Factors such as large patient population, especially in China and India, growing per capita income, increasing investments in the healthcare industry by key market players, and rising awareness of advanced technologies are driving the growth of the APAC market.

“The healthcare payer fraud detection analytics market is estimated to witness high growth from 2019 to 2024”

Based on healthcare payers solutions, the Healthcare Information Technology Market is segmented into claims management, customer relationship management, payer fraud analytics solutions, provider network management, pharmacy audit & analysis, member eligibility management, population health management solutions, and payment management solutions. The fraud analytics solutions is estimated to witness high growth from 2019 to 2024. The growing incidence of healthcare fraud (leading to the increasing healthcare costs and rising insurance premiums) has compelled payers and other stakeholders in the market to increase their focus on adopting data analytics software for faster and efficient fraud detection and prevention.

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Key Players:

Some of the major players operating in healthcare IT market 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).

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