Healthcare IT Market Size Is Poised To Reach USD 166.0 Billion By 2028: Grand View Research Inc.

San Francisco, 22 March 2021: The Report Healthcare IT Market Size, Share & Trends Analysis Report By Application (EHR, CPOE, PACS, Tele-healthcare, Clinical Information Systems), By Region (North America, APAC), And Segment Forecasts, 2021 – 2028

The global healthcare IT market size is expected to reach USD 166.0 billion by 2028 and is expected to grow at a CAGR of 10.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand and adoption of preventive care along with increasing funding for various mobile health startups is boosting the market growth. In addition, growing network coverage and rising improvements in network infrastructure are further driving the market.

The Covid-19 pandemic has also boosted the demand for online or virtual medical consultancy, globally, owing to the developments and innovations in internet-based technologies, the growing prevalence of chronic diseases, and increasing adoption and positive consumer behavior pertaining to newer technologies in healthcare. According to a 2020 survey conducted by Deloitte, the pandemic propelled the adoption of virtual health. For instance, the percent of consumers or respondents utilizing virtual visits increased from 15% in 2019 to 19% in the initial months of 2020 and a sudden spike of around 28% was witnessed in April 2020. Thus, such instances are likely to support market growth in the coming years.

In 2020, the Electronic Health Records (EHRs) application segment dominated the global market accounting for a revenue share of over 40%. This growth was attributed to the surge in demand for streamlining EHR, EHR-integrated tools, and advancements in information technology. Furthermore, the segment is estimated to retain its leading position throughout the forecast years due to factors, such as growing awareness and adoption in healthcare facilities, strategic initiatives by key players in the healthcare IT space, and an increasing number of initiatives supporting its implementation. For instance, in 2020, Cerner announced the launch of its first virtual EHR implementation in Macon Community Hospital, Tennessee.

Access Research Report of Healthcare IT Market https://www.grandviewresearch.com/industry-analysis/healthcare-it-market

Healthcare IT Market Report Highlights

  • The market is anticipated to witness significant growth over the forecast period owing to the rising demand and adoption of preventive care
  • North America dominated the global market in 2020 and will grow further at a steady CAGR from 2021 to 2028
  • This growth is credited to the rising adoption and implementation of IT services and solutions by healthcare providers for delivering enhanced patient care at lower expenses
  • Moreover, the increasing number of hospitals, advanced research centers, and universities along with the presence of key manufacturing hubs in North America will support the market growth in the region

List of Key Players of Healthcare IT Market

  • Philips Healthcare
  • Agfa Healthcare
  • Hewlett-Packard Enterprise
  • Carestream Health
  • GE Healthcare
  • E-MDS, Inc.
  • Athenahealth, Inc.
  • eClinicalworks
  • McKesson Corporation

Access Press Release of Healthcare IT Market @ https://www.grandviewresearch.com/press-release/global-healthcare-it-market 

Healthcare IT Market is Predicted to Observe a Tremendous Growth, With a CAGR of 10.7% From 2021 To 2028: Grand View Research Inc.

San Francisco, 16 Feb 2021: The Report Healthcare IT Market Size, Share & Trends Analysis Report By Application (EHR, CPOE, PACS, Tele-healthcare, Clinical Information Systems), By Region (North America, APAC), And Segment Forecasts, 2021 – 2028

The global healthcare IT market size is expected to reach USD 166.0 billion by 2028 and is expected to grow at a CAGR of 10.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand and adoption of preventive care along with increasing funding for various mobile health startups is boosting the market growth. In addition, growing network coverage and rising improvements in network infrastructure are further driving the market.

The Covid-19 pandemic has also boosted the demand for online or virtual medical consultancy, globally, owing to the developments and innovations in internet-based technologies, the growing prevalence of chronic diseases, and increasing adoption and positive consumer behavior pertaining to newer technologies in healthcare. According to a 2020 survey conducted by Deloitte, the pandemic propelled the adoption of virtual health. For instance, the percent of consumers or respondents utilizing virtual visits increased from 15% in 2019 to 19% in the initial months of 2020 and a sudden spike of around 28% was witnessed in April 2020. Thus, such instances are likely to support market growth in the coming years.

In 2020, the Electronic Health Records (EHRs) application segment dominated the global market accounting for a revenue share of over 40%. This growth was attributed to the surge in demand for streamlining EHR, EHR-integrated tools, and advancements in information technology. Furthermore, the segment is estimated to retain its leading position throughout the forecast years due to factors, such as growing awareness and adoption in healthcare facilities, strategic initiatives by key players in the healthcare IT space, and an increasing number of initiatives supporting its implementation. For instance, in 2020, Cerner announced the launch of its first virtual EHR implementation in Macon Community Hospital, Tennessee.

Access Research Report of Healthcare IT Market https://www.grandviewresearch.com/industry-analysis/healthcare-it-market

Healthcare IT Market Report Highlights

  • The market is anticipated to witness significant growth over the forecast period owing to the rising demand and adoption of preventive care
  • North America dominated the global market in 2020 and will grow further at a steady CAGR from 2021 to 2028
  • This growth is credited to the rising adoption and implementation of IT services and solutions by healthcare providers for delivering enhanced patient care at lower expenses
  • Moreover, the increasing number of hospitals, advanced research centers, and universities along with the presence of key manufacturing hubs in North America will support the market growth in the region

List of Key Players of Healthcare IT Market

  • Philips Healthcare
  • Agfa Healthcare
  • Hewlett-Packard Enterprise
  • Carestream Health
  • GE Healthcare
  • E-MDS, Inc.
  • Athenahealth, Inc.
  • eClinicalworks
  • McKesson Corporation

Access Press Release of Healthcare IT Market @ https://www.grandviewresearch.com/press-release/global-healthcare-it-market

Healthcare IT Market Value To Reach USD 104.5 Billion By 2020 : Grand View Research Inc.

Healthcare IT Market

San Francisco, 14 February  2020: The Report Healthcare IT Market Analysis By Application (Electronic Health Records, Computerized Provider Order Entry Systems, Electronic Prescribing Systems, PACS, Lab Information Systems, Clinical Information Systems, Telemedicine and Telehealth) And Segment Forecasts To 2020

The global healthcare IT market is anticipated to reach USD 104.5 billion by 2020, according to a new report by Grand View Research, Inc. Increasing demand for enhanced healthcare facilities and introduction of technologically advanced systems are expected to boost industry growth.

Increasing geriatric population prone to chronic diseases resulting into high patient base is triggering the demand for sophisticated healthcare facilities. Furthermore, increasing number of patients requiring home healthcare acts as an effective growth driver for this market.

Access Research Report of Healthcare IT Market www.grandviewresearch.com/industry-analysis/healthcare-it-market

According to a report published by the U.S. Centers for Disease Control and Prevention (CDC) in 2011, the number of patients needing home healthcare was nearly 4.7 million in the U.S. and is on a constant rise, which is further expected to fuel the healthcare IT market demand.

Advent of technologically advanced software, such as interoperable system and cloud computing, is expected to attract more investors focus on developing integrated healthcare system to curb problems associated with conventional procedures of record keeping. For example, the uses of e-healthcare record system to maintain patient database help to provide instant information about patients’ health in case of emergency.

Telecommunication and telehealth accounted for over 40.0% of the market share owing to the high usage rates in 2013. Introduction of technological advancements such as Teleimmersive Environment for Everybody (TEEVE) and Session Initiation Protocol (SIP) are the factors promoting this segment’s growth.

Electronic Health Records (EHR) is expected to register an upward shift to reach up to USD 26.72 billion in 2020. Growth is primarily driven by the rising demand for integrated information system in the field of healthcare IT. Faster accessibility and low maintenance cost are the two most significant factors contributing towards the rising demand of these EHR systems.

In 2013, North America market was valued at around USD 20.0 billion owing to the factors such as favorable government initiatives pertaining to the introduction of technologically advanced healthcare IT facilities, sophisticated healthcare infrastructure, and increasing patient awareness levels coupled with relatively higher healthcare expenditures in the region.

On the other hand, Asia Pacific healthcare IT market is expected to reach at over USD 19.6 billion by registering lucrative growth rate in 2020. Growth is attributed to the rising healthcare expenditure, larger untapped opportunities, and growing disposable income level.

Prominent players operating in this industry include Athenahealth Inc., GE Healthcare, Agfa Healthcare, Philips Healthcare, E-MDS Inc., Carestream Health McKesson Corporation, Carestream Health eClinicalworks, and Hewlett-Packard.

Browse more reports of this category by Grand View Research at:  www.grandviewresearch.com/industry/healthcare-it

Grand View Research has segmented the global healthcare IT market on the basis of application and region:

Healthcare IT Application Outlook (Market Revenue in USD Million, 2012 – 2020)

  • Electronic Health Records
  • Computerized Provider Order Entry Systems
  • Electronic Prescribing Systems
  • PACS
  • Lab Information Systems
  • Clinical Information Systems
  • Telemedicine and Telehealth
  • Others

Healthcare IT Regional Outlook (Market Revenue in USD Million, 2012 – 2020)

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Access Press Release of Healthcare IT Market www.grandviewresearch.com/press-release/global-healthcare-it-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

 

Healthcare IT Market Value To Reach USD 104.5 Billion By 2020 : Grand View Research Inc.

San Francisco, 30 August 2019: The Report Healthcare IT Market Analysis By Application (Electronic Health Records, Computerized Provider Order Entry Systems, Electronic Prescribing Systems, PACS, Lab Information Systems, Clinical Information Systems, Telemedicine and Telehealth) And Segment Forecasts To 2020

The global healthcare IT market is anticipated to reach USD 104.5 billion by 2020, according to a new report by Grand View Research, Inc. Increasing demand for enhanced healthcare facilities and introduction of technologically advanced systems are expected to boost industry growth.

Increasing geriatric population prone to chronic diseases resulting into high patient base is triggering the demand for sophisticated healthcare facilities. Furthermore, increasing number of patients requiring home healthcare acts as an effective growth driver for this market.

Access Research Report of Healthcare IT Market www.grandviewresearch.com/industry-analysis/healthcare-it-market

According to a report published by the U.S. Centers for Disease Control and Prevention (CDC) in 2011, the number of patients needing home healthcare was nearly 4.7 million in the U.S. and is on a constant rise, which is further expected to fuel the healthcare IT market demand.

Advent of technologically advanced software, such as interoperable system and cloud computing, is expected to attract more investors focus on developing integrated healthcare system to curb problems associated with conventional procedures of record keeping. For example, the uses of e-healthcare record system to maintain patient database help to provide instant information about patients’ health in case of emergency.

Telecommunication and telehealth accounted for over 40.0% of the market share owing to the high usage rates in 2013. Introduction of technological advancements such as Teleimmersive Environment for Everybody (TEEVE) and Session Initiation Protocol (SIP) are the factors promoting this segment’s growth.

Electronic Health Records (EHR) is expected to register an upward shift to reach up to USD 26.72 billion in 2020. Growth is primarily driven by the rising demand for integrated information system in the field of healthcare IT. Faster accessibility and low maintenance cost are the two most significant factors contributing towards the rising demand of these EHR systems.

In 2013, North America market was valued at around USD 20.0 billion owing to the factors such as favorable government initiatives pertaining to the introduction of technologically advanced healthcare IT facilities, sophisticated healthcare infrastructure, and increasing patient awareness levels coupled with relatively higher healthcare expenditures in the region.

On the other hand, Asia Pacific healthcare IT market is expected to reach at over USD 19.6 billion by registering lucrative growth rate in 2020. Growth is attributed to the rising healthcare expenditure, larger untapped opportunities, and growing disposable income level.

Prominent players operating in this industry include Athenahealth Inc., GE Healthcare, Agfa Healthcare, Philips Healthcare, E-MDS Inc., Carestream Health McKesson Corporation, Carestream Health eClinicalworks, and Hewlett-Packard.

Browse more reports of this category by Grand View Research at:  www.grandviewresearch.com/industry/healthcare-it

Grand View Research has segmented the global healthcare IT market on the basis of application and region:

Healthcare IT Application Outlook (Market Revenue in USD Million, 2012 – 2020)

  • Electronic Health Records
  • Computerized Provider Order Entry Systems
  • Electronic Prescribing Systems
  • PACS
  • Lab Information Systems
  • Clinical Information Systems
  • Telemedicine and Telehealth
  • Others

Healthcare IT Regional Outlook (Market Revenue in USD Million, 2012 – 2020)

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Access Press Release of Healthcare IT Market www.grandviewresearch.com/press-release/global-healthcare-it-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

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