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Report
Healthcare IT Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-06-14 I 135 Pages I IMARC Group
Market Overview:
The global healthcare IT market size reached US$ 292.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 585.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.2% during 2023-2028.
The term healthcare refers to the diagnosis, treatment and prevention of diseases or illnesses, and other physical and mental impairments. The healthcare industry along with information technology (IT) functions to manage, regulate, and mechanize operations in medical organizations. The use of modern techniques in the health and wellness sector offers an effective patient-centric approach for medical treatments and enables smooth communication between the doctors, patients, and other concerned people. The healthcare IT infrastructure also includes computerized physician order entry systems, electronic health management and medical record keeping. Governments across the globe are investing in digital health to improve the standards of healthcare services, as well as to develop and enact numerous roadmaps and national strategies. Moreover, changing demographic trends such as rising ageing population and an increasing prevalence of lifestyle diseases are straining the current healthcare infrastructure and resources. Better disease management and accessible care have become essential to cater to the rising healthcare requirements. It has also become essential to accelerate the development of IT solutions to improve coordination in chronic disease management and promote preventive care. Additionally, patients, employers, and healthcare providers are increasingly embracing digital health.
Catalyzed by rising healthcare consumerism, patients also increasingly demanding access and efficient management of their healthcare data. Furthermore, the growing prevalence of chronic lifestyle diseases and rising demand for safety and confidentiality of patient information have driven the requirement of IT services in the healthcare sector. Additionally, there has been a significant rise in the number of patients who require constant medical attention. The consequent need to reduce the per-patient time of doctors and to increase the efficiency of treatment has further created growth prospects for the market. The healthcare IT solutions are also projected to play a significant role in automating the entire treatment process including the admission of patients, maintaining records of treatments, and scheduling follow-ups.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global healthcare IT market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product and services, component, delivery mode and end-user.
Breakup by Product and Services:
Healthcare Provider Solutions
Clinical Solutions
Nonclinical Healthcare IT Solutions
Healthcare Payer Solutions
Pharmacy Audit and Analysis Systems
Claims Management Solutions
Analytics and Fraud Management Solutions
Member Eligibility Management Solutions
Provider Network Management Solutions
Billing and Accounts (Payment) Management Solutions
Customer Relationship Management Solutions
Population Health Management Solutions
Other Payer Solutions
Healthcare IT Outsourcing Services
Provider HCIT Outsourcing Services Market
Payer IT Outsourcing Services
Operational IT Outsourcing Services
Breakup by Component:
Software
Hardware
Services
Breakup by Delivery Mode:
On-Premise
Cloud-Based
Breakup by End-User:
Healthcare Providers
Hospitals
Ambulatory Care Centers
Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
Diagnostic and Imaging Centers
Pharmacies
Healthcare Payers
Private Payers
Public Payers
Others
Breakup by Region:
Europe
North America
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Cerner Corporation, Allscripts Healthcare Solutions, Inc., Wipro Limited, Oracle Corporation, International Business Machines (IBM) Corporation, SAS Institute Inc., Dell Technologies Inc., McKesson Corporation, Epic Systems Corporation, Athenahealth, Inc. and Infor, Inc.
Key Questions Answered in This Report:
How has the global healthcare IT market performed so far and how will it perform in the coming years?
What are the key regional markets in the global healthcare IT industry?
What has been the impact of COVID-19 on the global healthcare IT market?
What is the breakup of the market based on the product and services?
What is the breakup of the market based on the component?
What is the breakup of the market based on the delivery mode?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the global healthcare IT industry?
What are the key driving factors and challenges in the global healthcare IT industry?
What is the structure of the global healthcare IT industry and who are the key players?
What is the degree of competition in the global healthcare IT industry?
What are the profit margins in the global healthcare IT industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Healthcare IT Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product and Services
5.5 Market Breakup by Component
5.6 Market Breakup by Delivery Mode
5.7 Market Breakup by End-User
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Product and Services
6.1 Healthcare Provider Solutions
6.1.1 Market Trends
6.1.2 Market Breakup by Type
6.1.2.1 Clinical Solutions
6.1.2.1.1 Market Trends
6.1.2.1.2 Market Forecast
6.1.2.2 Nonclinical Healthcare IT Solutions
6.1.2.2.1 Market Trends
6.1.2.2.2 Market Forecast
6.1.3 Market Forecast
6.2 Healthcare Payer Solutions
6.2.1 Market Trends
6.2.2 Market Breakup by Type
6.2.2.1 Pharmacy Audit and Analysis Systems
6.2.2.1.1 Market Trends
6.2.2.1.2 Market Forecast
6.2.2.2 Claims Management Solutions
6.2.2.2.1 Market Trends
6.2.2.2.2 Market Forecast
6.2.2.3 Analytics and Fraud Management Solutions
6.2.2.3.1 Market Trends
6.2.2.3.2 Market Forecast
6.2.2.4 Member Eligibility Management Solutions
6.2.2.4.1 Market Trends
6.2.2.4.2 Market Forecast
6.2.2.5 Provider Network Management Solutions
6.2.2.5.1 Market Trends
6.2.2.5.2 Market Forecast
6.2.2.6 Billing and Accounts (Payment) Management Solutions
6.2.2.6.1 Market Trends
6.2.2.6.2 Market Forecast
6.2.2.7 Customer Relationship Management Solutions
6.2.2.7.1 Market Trends
6.2.2.7.2 Market Forecast
6.2.2.8 Population Health Management Solutions
6.2.2.8.1 Market Trends
6.2.2.8.2 Market Forecast
6.2.2.9 Others
6.2.2.9.1 Market Trends
6.2.2.9.2 Market Forecast
6.2.3 Market Forecast
6.3 Healthcare IT Outsourcing Services
6.3.1 Market Trends
6.3.2 Market Breakup by Type
6.3.2.1 Provider HCIT Outsourcing Services Market
6.3.2.1.1 Market Trends
6.3.2.1.2 Market Forecast
6.3.2.2 Payer IT Outsourcing Services
6.3.2.2.1 Market Trends
6.3.2.2.2 Market Forecast
6.3.2.3 Operational IT Outsourcing Services
6.3.2.3.1 Market Trends
6.3.2.3.2 Market Forecast
6.3.3 Market Forecast
7 Market Breakup by Component
7.1 Software
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Hardware
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Services
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Delivery Mode
8.1 On-Premise
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Cloud-Based
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by End-User
9.1 Healthcare Providers
9.1.1 Market Trends
9.1.2 Market Breakup by Type
9.1.2.1 Hospitals
9.1.2.1.1 Market Trends
9.1.2.1.2 Market Forecast
9.1.2.2 Ambulatory Care Centers
9.1.2.2.1 Market Trends
9.1.2.2.2 Market Forecast
9.1.2.3 Home Healthcare Agencies, Nursing Homes and Assisted Living Facilities
9.1.2.3.1 Market Trends
9.1.2.3.2 Market Forecast
9.1.2.4 Diagnostic and Imaging Centers
9.1.2.4.1 Market Trends
9.1.2.4.2 Market Forecast
9.1.2.5 Pharmacies
9.1.2.5.1 Market Trends
9.1.2.5.2 Market Forecast
9.1.3 Market Forecast
9.2 Healthcare Payers
9.2.1 Market Trends
9.2.2 Market Breakup by Type
9.2.2.1 Private Payers
9.2.2.1.1 Market Trends
9.2.2.1.2 Market Forecast
9.2.2.2 Public Payers
9.2.2.2.1 Market Trends
9.2.2.2.2 Market Forecast
9.2.3 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
10.1 Europe
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 North America
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Asia Pacific
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
14.1 Key Price Indicators
14.2 Price Structure
14.3 Margin Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 General Electric Company
15.3.2 Koninklijke Philips N.V.
15.3.3 Siemens Healthineers AG
15.3.4 Cerner Corporation
15.3.5 Allscripts Healthcare Solutions, Inc.
15.3.6 Wipro Limited
15.3.7 Oracle Corporation
15.3.8 International Business Machines (IBM) Corporation
15.3.9 SAS Institute Inc.
15.3.10 Dell Technologies Inc.
15.3.11 McKesson Corporation
15.3.12 Epic Systems Corporation
15.3.13 Athenahealth, Inc.
15.3.14 Infor, Inc.
Figure 1: Global: Healthcare IT Market: Major Drivers and Challenges
Figure 2: Global: Healthcare IT Market: Sales Value (in US$ Billion), 2017-2022
Figure 3: Global: Healthcare IT Market: Breakup by Product and Services (in %), 2022
Figure 4: Global: Healthcare IT Market: Breakup by Component (in %), 2022
Figure 5: Global: Healthcare IT Market: Breakup by Delivery Mode (in %), 2022
Figure 6: Global: Healthcare IT Market: Breakup by End-User (in %), 2022
Figure 7: Global: Healthcare IT Market: Breakup by Region (in %), 2022
Figure 8: Global: Healthcare IT Market Forecast: Sales Value (in US$ Billion), 2023-2028
Figure 9: Global: Healthcare IT Industry: SWOT Analysis
Figure 10: Global: Healthcare IT Industry: Value Chain Analysis
Figure 11: Global: Healthcare IT Industry: Porter's Five Forces Analysis
Figure 12: Global: Healthcare IT (Healthcare Provider Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 13: Global: Healthcare IT (Healthcare Provider Solutions) Market: Breakup by Type (in %), 2022
Figure 14: Global: Healthcare IT (Clinical Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 15: Global: Healthcare IT (Clinical Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 16: Global: Healthcare IT (Nonclinical Healthcare IT Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 17: Global: Healthcare IT (Nonclinical Healthcare IT Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 18: Global: Healthcare IT (Healthcare Provider Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 19: Global: Healthcare IT (Healthcare Payer Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 20: Global: Healthcare IT (Healthcare Payer Solutions) Market: Breakup by Type (in %), 2022
Figure 21: Global: Healthcare IT (Pharmacy Audit and Analysis Systems) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 22: Global: Healthcare IT (Pharmacy Audit and Analysis Systems) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 23: Global: Healthcare IT (Claims Management Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 24: Global: Healthcare IT (Claims Management Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 25: Global: Healthcare IT (Analytics and Fraud Management Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 26: Global: Healthcare IT (Analytics and Fraud Management Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 27: Global: Healthcare IT (Member Eligibility Management Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 28: Global: Healthcare IT (Member Eligibility Management Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 29: Global: Healthcare IT (Provider Network Management Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 30: Global: Healthcare IT (Provider Network Management Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 31: Global: Healthcare IT (Billing and Accounts (Payment) Management Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 32: Global: Healthcare IT (Billing and Accounts (Payment) Management Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 33: Global: Healthcare IT (Customer Relationship Management Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 34: Global: Healthcare IT (Customer Relationship Management Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 35: Global: Healthcare IT (Population Health Management Solutions) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 36: Global: Healthcare IT (Population Health Management Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 37: Global: Healthcare IT (Others) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 38: Global: Healthcare IT (Others) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 39: Global: Healthcare IT (Healthcare Payer Solutions) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 40: Global: Healthcare IT (Healthcare IT Outsourcing Services) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 41: Global: Healthcare IT (Healthcare IT Outsourcing Services) Market: Breakup by Type (in %), 2022
Figure 42: Global: Healthcare IT (Provider HCIT Outsourcing Services) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 43: Global: Healthcare IT (Provider HCIT Outsourcing Services) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 44: Global: Healthcare IT (Payer IT Outsourcing Services) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 45: Global: Healthcare IT (Payer IT Outsourcing Services) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 46: Global: Healthcare IT (Operational IT Outsourcing Services) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 47: Global: Healthcare IT (Operational IT Outsourcing Services) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 48: Global: Healthcare IT (Healthcare IT Outsourcing Services) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 49: Global: Healthcare IT (Software) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 50: Global: Healthcare IT (Software) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 51: Global: Healthcare IT (Hardware) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 52: Global: Healthcare IT (Hardware) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 53: Global: Healthcare IT (Services) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 54: Global: Healthcare IT (Services) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 55: Global: Healthcare IT (On-Premise) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 56: Global: Healthcare IT (On-Premise) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 57: Global: Healthcare IT (Cloud-Based) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 58: Global: Healthcare IT (Cloud-Based) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 59: Global: Healthcare IT (Healthcare Providers) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 60: Global: Healthcare IT (Healthcare Providers) Market: Breakup by Type (in %), 2022
Figure 61: Global: Healthcare IT (Hospitals) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 62: Global: Healthcare IT (Hospitals) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 63: Global: Healthcare IT (Ambulatory Care Centers) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 64: Global: Healthcare IT (Ambulatory Care Centers) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 65: Global: Healthcare IT (Home Healthcare Agencies, Nursing Homes and Assisted Living Facilities) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 66: Global: Healthcare IT (Home Healthcare Agencies, Nursing Homes and Assisted Living Facilities) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 67: Global: Healthcare IT (Diagnostic and Imaging Centers) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 68: Global: Healthcare IT (Diagnostic and Imaging Centers) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 69: Global: Healthcare IT (Pharmacies) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 70: Global: Healthcare IT (Pharmacies) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 71: Global: Healthcare IT (Healthcare Providers) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 72: Global: Healthcare IT (Healthcare Payers) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 73: Global: Healthcare IT (Healthcare Payers) Market: Breakup by Type (in %), 2022
Figure 74: Global: Healthcare IT (Private Payers) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 75: Global: Healthcare IT (Private Payers) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 76: Global: Healthcare IT (Public Payers) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 77: Global: Healthcare IT (Public Payers) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 78: Global: Healthcare IT (Healthcare Payers) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 79: Global: Healthcare IT (Other End-Users) Market: Sales Value (in US$ Million), 2017 & 2022
Figure 80: Global: Healthcare IT (Other End-Users) Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 81: Europe: Healthcare IT Market: Sales Value (in US$ Million), 2017 & 2022
Figure 82: Europe: Healthcare IT Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 83: North America: Healthcare IT Market: Sales Value (in US$ Million), 2017 & 2022
Figure 84: North America: Healthcare IT Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 85: Asia Pacific: Healthcare IT Market: Sales Value (in US$ Million), 2017 & 2022
Figure 86: Asia Pacific: Healthcare IT Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 87: Middle East and Africa: Healthcare IT Market: Sales Value (in US$ Million), 2017 & 2022
Figure 88: Middle East and Africa: Healthcare IT Market Forecast: Sales Value (in US$ Million), 2023-2028
Figure 89: Latin America: Healthcare IT Market: Sales Value (in US$ Million), 2017 & 2022
Figure 90: Latin America: Healthcare IT Market Forecast: Sales Value (in US$ Million), 2023-2028
Table 1: Global: Healthcare IT Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Healthcare IT Market Forecast: Breakup by Product and Services (in US$ Million), 2023-2028
Table 3: Global: Healthcare IT Market Forecast: Breakup by Component (in US$ Million), 2023-2028
Table 4: Global: Healthcare IT Market Forecast: Breakup by Delivery Mode (in US$ Million), 2023-2028
Table 5: Global: Healthcare IT Market Forecast: Breakup by End-User (in US$ Million), 2023-2028
Table 6: Global: Healthcare IT Market Forecast: Breakup by Region (in US$ Million), 2023-2028
Table 7: Global: Healthcare IT Market Structure
Table 8: Global: Healthcare IT Market: Key Players
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