The global healthcare industry is currently in a phase of technological transition, where healthcare IT has emerged as a powerful tool to transform the clinical, operational, and administrative outcomes of the industry. Over the past decade, the global healthcare IT market has evolved from basic EMR/EMR solutions to the development of specialized hospital information management systems, population health management solutions, and healthcare information exchange systems.
The global healthcare IT market has registered steady growth in the last five years, and is further expected to grow at a CAGR of 13.4% till 2020. This growth is attributed to the rising adoption of healthcare IT solutions by healthcare providers to meet regulatory requirements for patient care and safety, increasing need to curtail soaring healthcare costs, and growing need to improve healthcare quality while maintaining operational efficiency.
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This market tracker also provides detailed geographic analysis of the global healthcare IT market covering major countries in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The healthcare IT market in North America and Europe is regarded as technologically competent, characterized by the presence of well-established HCIT infrastructure. Together, these two regions accounted for approximately 75%–80% of the global healthcare IT market in 2015, and are expected to grow at a healthy CAGR during 2015–2020. Changing regulatory requirements for improving the quality of healthcare and increasing patient safety and rising healthcare expenditures are some key factors driving the growth of the healthcare IT market in North America and Europe.
This healthcare IT solutions market tracker categorizes the global market on the basis of product and end user. These markets are broken down into segments and subsegments, with value analysis for 2013, 2014, and 2015, as well as forecast up to 2020. Each market is comprehensively analyzed by geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) to provide in-depth information on the global scenario.
On the basis of products, the market is divided into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. The healthcare provider solutions segment is further segmented into clinical and non-clinical solutions. The HCIT outsourcing services segment includes provider HCIT outsourcing services, payer HCIT outsourcing services, operational HCIT outsourcing services, and IT infrastructure management services.
Clinical healthcare IT solutions form a key segment of the global market. Rapid growth in the mHealth solutions market, increasing demand for healthcare IT integration systems, and rapid adoption of telehealth solutions across the globe are driving the growth of the clinical healthcare IT solutions market. The high growth potential of these markets provides key growth opportunities to healthcare IT solution vendors.
On the basis of end user, the healthcare IT solutions market is categorized into healthcare providers and healthcare payers. The healthcare providers segment is further categorized into hospitals; ambulatory care centers; home healthcare agencies, nursing homes and assisted living facilities; diagnostic and imaging centers; and pharmacies. The hospitals segment accounted for the largest share of the global market in 2015; this segment is poised to grow at the highest CAGR during the forecast period.
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