Healthcare Information Technology Services Market: Shows Increasing Demand To Be Observed In The Coming Decade – EIN News

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The healthcare industry continues to expand with advent of advanced technologies.
SEATTLE, WASHINGTON, UNITED STATES, December 13, 2021 / — Market Overview
The healthcare industry continues to expand with advent of advanced technologies. Clinicians are adopting latest technologies to provide robust healthcare services and create more efficient ecosystem across the healthcare sector. Emergence of different lifestyle and therapeutic applications based on digital apps is expected to aid in growth of the global healthcare information technology services market. Although key companies are witnessing rapid growth, entry of new players can impact their market share significantly along with changing technology.
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Currently, the information technology has become an essential part of healthcare infrastructure, since it addresses various daily requirements. Modern high-tech hospitals and other healthcare settings make available a unified matrix of patient records, imaging results as well as his medical history and related information. The healthcare (HC) IT services, which is provided by a range of global HC solution and service providers help furnish the right information at the right place at the right time. Therefore, healthcare information technology solutions and services help enable improved patient care with superior hospital management.
Market Drivers
Emergence healthcare apps and process execution is expected to drive growth of the global healthcare information technology services market during the forecast period
Healthcare information technology is rapidly gaining traction as advanced technologies make access to patient information a lot more convenient. Introduction of social media platform combined with smartphones has eliminated the gap between service providers and patients. Furthermore, advent of big data concept has led to emergence of chained hospitals to understand the patient in more logical way.
Rising number of surgical procedures combined with increasing demand for advanced healthcare services and high-tech hospitals is expected to propel the global healthcare information technology services market growth over the forecast period. Demand for improved healthcare services are increasing due to increasing incidences of chronic health issues, such as hypercholesterolemia, diabetes and rising number of infectious diseases and rising geriatric population of the world.
Market Taxonomy:
Coherent Market Insights has segmented the industry into:
By Application
By End-use
By Services
By end-use, healthcare information technology services can be categorized into four major segments – hospitals, laboratories, pharmacies, and other healthcare institutions.
On the basis of platform, healthcare information technology market is segmented into on premise, web-based, and cloud based servers.
On the basis of services, healthcare information technology services are segmented as:
Medical Imaging Professional Services
Revenue Cycle Management Services for Hospitals
Accountable Care Organization Services
Document Management Services
Business and Regulatory Support Services
Managed Services
Point-of-care Decision Support Services
Evidence-Based Decision Support Services
Ordering and Inventory Management Services
Homecare & Hospice Support Services
Medical Billing and Coding Services for Physicians
Practice Consulting Services
Patient Care Solutions & Services
Other Medical-Surgical-Laboratory Services
Reasons to Purchase this Report
• Current and future of Healthcare Information Technology Services Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
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Regional Insights
Among regions, North America holds dominant position in the global healthcare information technology services market. This is owing to presence of well-established healthcare infrastructure across the region. Furthermore, Asia Pacific is expected to register lucrative growth, owing to rising healthcare expenditure and improving healthcare awareness as well as rapidly growing IT industry in emerging economies such as India and China.
Competitive Section
Major companies involved in the global healthcare information technology services market are Carestream Health, Inc., Epic Systems Corporation, Cerner Corporation, GE Healthcare, McKesson Corporation, NextGen Healthcare Information Systems, LLC, Philips Healthcare, Merge Healthcare Incorporated, Agfa HealthCare NV, and Siemens Healthcare.
Key Developments
Key players in the market are focused on various business strategies such as merger and acquisition to gain competitive edge in the market. For instance, in August 2019, Royal Phillips, a global leader in health technology acquired Carestream Health Inc.’s Healthcare Information Systems (HCI) business in 26 of the 38 countries it operates. HCI is a cloud-enabled enterprise imaging platform that will expand Philips’ current enterprise diagnostic informatics solutions.
Key players in the market are focused on launching new products and services to expand its product portfolio and gain competitive edge in the market. For instance, in May 2019, Cerner, a global health platform company launched Anuva Health, a near-site health network offering. Anuva Health offers in person and virtual healthcare services for employers who are looking to provide unique benefits to employees to support improved health and lower costs.
Key players in the market are involved in various business strategies such as collaboration and partnership to gain competitive edge in the market. For instance, in April 2019, GE Healthcare entered into a partnership with Nasscom, a technology services industry company to boost startups to work on digital healthcare solutions in India.
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