The healthcare IT market is projected to grow at CAGR of 15.9 % from 2016 – 2021, moving from USD 134.25 Billion in 2016 to USD 280.25 Billion in 2021. Factors such as increasing concern for global companies to adhere to international compliance norms and growing need to manage regulations have boosted the demand for healthcare IT solutions. Also, emergence of accountable care organizations, government support for healthcare IT services, increased R&D expenditure in this domain, increased focus on improving quality of care and clinical outcomes,rising need to curtail rapidly increasing healthcare costs, high return on investment on HCIT solutions, and rising usage of Big Data analytics are the other growth drivers of global healthcare IT market.
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Global Healthcare IT Market can be segmented as follows:
By product and Services
Healthcare Provider Solutions – Clinical & nonclinical Solutions
Electronic Medical Records Systems
Radiology Information Systems
Radiation Dose Management
Healthcare IT Integration Systems
Infection Surveillance Solutions
Pharmacy Information Systems
Medication Management Systems
Healthcare Analytics software including CRM
HCIT Outsourcing Services
By End User
Healthcare Providers – Hospitals, Ambulatory Care Centers, Pharmacies and Diagnostic And Imaging Centers
Private & Public Healthcare Players along with the Third Party Administrators, Research centres and Government Institutions
Geographically, the global healthcare IT market is distributed majorly over North America, Latin America, Europe, Asia-Pacific, the Middle East & Africa. North America, comprising Canada and the U.S., accounts for the largest share of the market. This large share of this region is attributed to the high adoption rate of HCIT technologies, the stringent legislations, and regulatory requirements regarding patient safety, accreditation requirements regarding healthcare programs and the presence of major IT companies across this area.
However, amongst the fastest growing markets, the Asia-Pacific region tops the list. Accelerated economic growth of countries, growing consumerism in the healthcare industry and the need to control the soaring healthcare costs are the key factors responsible for providingthe necessary boost to the global healthcare IT market.
Key players in the Global Healthcare IT market are GE Healthcare (UK),United Healthcare Group(U.S.), McKesson Corporation (U.S.), Athenahealth, Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), Cerner Corporation (U.S.) and Infor, Inc. (U.S.).
Other players in the value chain include IBM, Wipro Technologies,3M health Information Systems, Wolters KluwerConifer Health Solutions, Kronos Incorporated, Orian Health, CSI Healthcare IT and Syntel Inc.
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
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