Healthcare IT Market size worth $ 1,281.1 Billion, Globally, by 2028 at 22.05% CAGR: Verified Market Research®

Jersey City, N.J., Oct. 26, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Healthcare IT Market" By End-User (Healthcare Providers and Healthcare Payers), By Component (Service, Software, And Hardware), By Product & Services (Healthcare Provider Solutions, Healthcare Analytics, Customer Relationship Management Solutions), and By Geography. According to Verified Market Research, the Global Healthcare IT Market size was valued at USD 258.24 Billion in 2020 and is projected to reach USD 1,281.1 Billion by 2028, growing at a CAGR of 22.05% from 2021 to 2028.

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Browse in-depth TOC on "Healthcare IT Market"

202 - Pages
126 – Tables
37 – Figures

Global Healthcare IT Market Overview

Increasing the geriatric population around the world drives demand for continuous disease monitoring as well as medication which is leading to the widespread adoption of Healthcare Information Systems contributing to the growth of the overall market. Surging demand for telehealth solutions among Smartphone users is boosting the growth of the market. Furthermore, the growing popularity of digital wearable's in young customers around the world is increasing leading to the adoption of Healthcare Information Systems more easily. However, the concerns regarding the privacy of patient's data and security breaches might hinder the growth of the Healthcare Information Systems Market.

While high implementation cost and lack of acceptance in healthcare medical society act a potential restraint for the overall market at a global level. The rising cost of connected devices and lack of awareness regarding the internet of things-enabled solutions and products restrain the global smart hospital market growth in the forecast mentioned above. Hospitals face several hurdles in accomplishing their smart hospital initiatives. For instance, a lack of management buy-in can be demotivating for stakeholders. A bureaucratized and hierarchical management may resist being adaptive and agile toward smart hospital initiatives, such as setting up connected medical imaging facilities or establishing the IoT in remote medical control. To overcome these challenges, consultancy companies in the smart hospitals market should comprehensively help stakeholders execute their initiatives by emphasizing real business use cases.

Key Developments in Healthcare IT Market

  • On June 2021, Aker Solutions announced to extends relationship with Cognizant to its entire IT infrastructure, including its business technology network and application maintenance and development. The transformation will enable the company to offer more flexibility and faster time-to-market.
  • On March 2021, Change Healthcare announced a New Data Science as a Service (DSaaS) Offering in collaboration with AWS. The New Data Science as a Service (DSaaS) Offering will drive improved outcomes and healthcare economics for vulnerable health communities

The major players in the market are Optum, Cerner, Cognizant, Change Healthcare, Philips Healthcare, Epic Systems, Dell Technologies, Allscripts, GE Healthcare, IBM, among others.

Verified Market Research has segmented the Global Healthcare IT Market On the basis of Component, Product & Services, End-User, and Geography.

  • Healthcare IT Market, By Component
    • Services
    • Software
    • Hardware
  • Healthcare IT Market, By Product & Services
    • Healthcare Provider Solutions
    • Healthcare Analytics
    • Customer Relationship Management Solutions
    • Pharmacy Information Systems
    • Healthcare Interoperability Solutions
    • Others
  • Healthcare IT Market, By End-User
    • Healthcare Providers
    • Healthcare Payers
  • Healthcare IT Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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