Healthcare IT Solutions Market by Product (EHR, PACS, Interoperability, Healthcare Analytics, Telemedicine, CRM), Market Size, Adoption Trends, Competitive landscape (Market Share Analysis, Product Portfolio Assessment)
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The global healthcare IT solutions market size is projected to grow at a CAGR of 13.4%. Factors such as rising healthcare costs, strong government support and initiatives to curtail rising healthcare costs, the growing need to integrate healthcare systems, and efforts from healthcare providers to maximize their returns on investment are fueling the growth of this market.
The report analyzes the healthcare IT solutions market by solutions, application, and region.
The interface/integration engines segment accounted for the largest share of the global healthcare IT solutions market, followed by medical device integration software
Based on products, the market is segmented into interface/integration engines, medical device integration software, media integration solutions, and other integration tools. Interface engines are key components in healthcare data integration, thus dominating this market with a majority share.
The hospital integration segment accounted for the global healthcare IT solutions market
Based on application, the market is broadly segmented into hospital integration, clinics integration, lab integration, radiology integration, medical device integration, and other applications. Other integration applications include telehealth services, ambulatory services, and billing and revenue cycle management. Hospital integration dominated this market. The large share is primarily attributed to the increasing use of IT integration within hospitals in order to maximize value-based reimbursements.
North America dominated the healthcare IT solutions market, this trend is expected to continue during the forecast period
Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of World. North America accounted for the largest share of this market. The presence of major companies and the growing need to curtail the soaring healthcare costs, enhance the quality of healthcare, improve the overall efficiency of healthcare organizations are the key factors driving the growth of the North American healthcare IT solutions market.
The prominent players in the global healthcare IT solutions market are InterSystems Corporation (U.S.), Corepoint Health (U.S.), Orion Health (New Zealand), Infor, Inc. (U.S.), iNTERFACEWARE (Canada), Quality Systems Inc. (U.S.), Cerner Corporation (U.S.), IBM (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Oracle Corporation (U.S.), Summit Health, Inc. (U.S.), and AVI-SPL (U.S.).
Healthcare IT Solutions Market Report Scope
Products, applications and regions.
North America, Europe, Asia Pacific, Rest of World
The research report categorizes the market into the following segments and subsegments:
- Interface/Integration Engines
- Medical Device Integration Software
- Media Integration Solutions
- Other Integration Tools
- Implementation Services
- Support and Maintenance Services
- Training Services Systems
- Hospital Integration
- Lab Integration
- Medical Device Integration
- Clinic Integration
- Radiology Integration
- Other Applications
- North America
- Rest of Europe
- Asia Pacific
- Rest of the World
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Product matrix, which gives a detailed comparison of product portfolios of each company
- Detailed analysis and profiling of additional market players (Up to 5)
- In 2016, InterSystems entered into a partnership with Pulse Infoframe (U.S.). Under this partnership, the company’s InterSystems HealthShare platform will be used by Pulse Infoframe for interoperability between clinical research systems and electronic health records (EHRs).
- In 2015, Merge Healthcare partnered with ICT Health (UAE). The partnership intended to deliver high-quality, affordable integrated clinical technology solutions to hospitals and clinics in the Middle East, North Africa, and India.
- In 2015, Infor launched CloudSuite Clinical, a new cloud-based interoperability, analytics, and patient engagement platform. The new product was designed to overcome complex interoperability challenges faced by payers, providers, and private exchanges. This helped the company provide better care and risk management solutions in the healthcare IT market.
Key Questions Addressed in the Report
- Who are the top 10 players operating in the healthcare IT solutions market?
- What are the driving factors, restraints, opportunities, and challenges in the healthcare IT integration market?
- What are the industry trends and current scenario of the healthcare IT solutions market?
- What are the growth trends in the healthcare IT integration market at segmental and overall market levels?
Frequently Asked Questions (FAQ):
What is the size of Healthcare IT Solutions Market ?
The global Healthcare IT Solutions Market size is growing at a CAGR of 13.4%
What are the major growth factors of Healthcare IT Solutions Market ?
Factors such as rising healthcare costs, strong government support and initiatives to curtail rising healthcare costs, the growing need to integrate healthcare systems, and efforts from healthcare providers to maximize their returns on investment are fueling the growth of this market.
Who all are the prominent players of Healthcare IT Solutions Market ?
The prominent players in the global healthcare IT integration market are InterSystems Corporation (U.S.), Corepoint Health (U.S.), Orion Health (New Zealand), Infor, Inc. (U.S.), iNTERFACEWARE (Canada), Quality Systems Inc. (U.S.), Cerner Corporation (U.S.), IBM (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Oracle Corporation (U.S.), Summit Health, Inc. (U.S.), and AVI-SPL (U.S.). .
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Table of Contents
1.1 Objectives of the Study
1.3 Healthcare IT Solutions Market Scope
1.3.1 Geographic Coverage
1.3.2 Product Markets
1.3.2 End User Markets
2 Research Methodology
2.1 Research Approach
2.2 Healthcare IT Solutions Market Size Estimation
3 Key Healthcare IT Solutions Market Dynamics
3.1 Key Factors Affecting the Market Growth and Their Impact Assessment
3.1.1 Key Healthcare IT Solutions Market Drivers
220.127.116.11 Growing Need to Manage Regulatory Compliance Through Healthcare It Solutions
18.104.22.168 RISing Need to Curtail Escalating Healthcare Costs
22.214.171.124 Government Support for Healthcare It Solutions
126.96.36.199 High Return on Investment for HCIT Solutions
188.8.131.52 Growing Focus on Improving Quality of Care and Clinical Outcomes
3.1.2 Key Healthcare IT Solutions Market Restraints
184.108.40.206 High Cost of Deployment
220.127.116.11 Reluctance Among Medical Professionals to Adopt Advanced Healthcare It Tools
18.104.22.168 Lack of Skilled It Professionals in the Healthcare Industry
3.1.3 Key Challenges
22.214.171.124 Integration of Healthcare It Solutions Within Healthcare Organizations
126.96.36.199 Data Security Concerns
4 Healthcare IT Solutions Market Assessment
Access Market Size & Growth Rates for Each of the Following HCIT Product/Solutions, at Country Level Using Interactive Product Dashboard.
4.1 Healthcare IT Solutions Market Size, By Product (2013–2020)
4.1.1 Healthcare Provider Solutions
188.8.131.52 Clinical Solutions
184.108.40.206.1 Electronic Health Records(EHR)/Electronic Medical Records(EMR)
220.127.116.11.2 Mobile Health Solutions
18.104.22.168.2.1 Connected Medical Devices
22.214.171.124.2.2 Healthcare Applications (Mhealth Apps)
126.96.36.199.3 Picture Archiving and Communication Systems (PACS) and Vendor Neutral Archives (VNA)
188.8.131.52.4 Healthcare It Integration Systems
184.108.40.206.5 Computerized Physician Order Entry (CPOE)
220.127.116.11.6 Clinical Decision Support Systems (CDSS)
18.104.22.168.7 Radiology Information Systems (RIS)
22.214.171.124.8 Radiation Dose Management
126.96.36.199.9 Specialty Management Information Systems
188.8.131.52.10 Medical Image Analysis Systems
184.108.40.206.11 Practice Management Systems
220.127.116.11.12 Laboratory Information Systems
18.104.22.168.13 Digital Pathology Solutions
22.214.171.124.14 Telehealth Solutions
126.96.36.199 Non-Clinical Healthcare It Solutions
188.8.131.52.1 Pharmacy Information Systems (PIS)
184.108.40.206.2 Medication Management Systems
220.127.116.11.2.1 Electronic Medication Administration Software
18.104.22.168.2.2 Barcode Medication Administration
22.214.171.124.2.3 Medication Inventory Management Systems
126.96.36.199.2.4 Medication Assurance Systems
188.8.131.52.3 Healthcare Asset Management
184.108.40.206.3.1 Equipment Management
220.127.116.11.3.2 Patient Tracking and Management
18.104.22.168.3.3 Temperature and Humidity Monitoring
22.214.171.124.4 Workforce Management Systems (WFM)
126.96.36.199.5 Revenue Cycle Management Solutions(RCM)
188.8.131.52.5.1 Admit Discharge Transfer Registration (ADT/Registration)
184.108.40.206.5.2 Computer-Assisted Coding Systems
220.127.116.11.5.3 Patient Scheduling Solutions
18.104.22.168.5.4 Patient Billing and Claims Management Solutions
22.214.171.124.5.5 Electronic Data Interchange
126.96.36.199.6 Medical Document Management Solutions
188.8.131.52.7 Financial Management Systems
184.108.40.206.8 Healthcare Information Exchange (HIE)
220.127.116.11.9 Population Health Management Solutions(PHM)
18.104.22.168.10 Supply Chain Management Solutions (SCM)
22.214.171.124.10.1 Procurement Management
126.96.36.199.10.2 Inventory Management
188.8.131.52.11 Healthcare Analytics
184.108.40.206.11.1 Clinical Analytics
220.127.116.11.11.2 Financial Analytics
18.104.22.168.11.3 Operational and Administrative Analytics
22.214.171.124.12 Customer Relationship Management (CRM)
4.1.2 Healthcare Payer Solutions
126.96.36.199 Pharmacy Audit and Analysis Systems
188.8.131.52 Claims Management Solutions
184.108.40.206 Fraud Management Solutions
220.127.116.11 Computer-Assisted Coding (CAC)Systems
18.104.22.168 Member Eligibility Management Solutions
22.214.171.124 Provider Network Management Solutions
126.96.36.199 Payment Management Solutions
188.8.131.52.1 Patient Billing Management Solutions
184.108.40.206.2 Provider Blling Management Solutions
220.127.116.11 Customer Relationship Management Solutions
18.104.22.168 Medical Document Management Solutions
22.214.171.124 Other Payer Solutions
4.1.3 HCIT Outsourcing Services
126.96.36.199 Provider HCIT Outsourcing Services Market
188.8.131.52.1 Electronic Medical Records and Medical Document Management Services
184.108.40.206.2 Pharmacy Information Management Services
220.127.116.11.3 Laboratory Information Management Services
18.104.22.168.4 Revenue Cycle Management Services
22.214.171.124.5 Other Provider Outsourcing Services
126.96.36.199 Payer It Outsourcing Services
188.8.131.52.1 Customer Relationship Management Services
184.108.40.206.2 Claims Processing Services
220.127.116.11.3 Billing Management Systems
18.104.22.168.4 Fraud Detection Services
22.214.171.124.5 Other Payer Outsourcing Services
126.96.36.199 Operational It Outsourcing Services
188.8.131.52.1 Business Process Management Services
184.108.40.206.2 Supply Chain Management Services
220.127.116.11.3 Other Operational It Outsourcing Services
18.104.22.168 It Infrastructure Management Services
4.2 Market Share Analysis, By Product (2015)
4.2.1 Workforce Management Solutions
4.2.2 Radiation Dose Management Solutions
4.2.3 Connected Medical Devices
4.2.4 Revenue Cycle Management Solutions
4.2.5 Practice Management Solutions
4.2.6 Electronic Health Records/ Electronic Medical Records
4.2.7 Picture Archiving and Communication Systems (PACS) and Vendor Neutral Archives (VNA)
4.2.8 Computerized Physician Order Entry (CPOE)
4.2.9 Clinical Decision Support Systems
4.2.10 Radiology Information Systems
4.2.11 Telehealth Solutions
4.2.12 Medication Management Systems
4.2.13 Medical Document Management Systems
4.2.14 Medical Image Processing & Analysis Systems
5 Healthcare IT Solutions Market Size, By Geography (2013–2020)
Access Country-Level Market Size & Growth Rates for Each of the HCIT Product/Solutions, at Country Level Using Interactive Country Dashboard. This Provides Market Size
5.1 Healthcare IT Solutions Market Size, By Product
5.1.1 North America
22.214.171.124 Rest of Europe (RoE)
5.1.3 Asia-Pacific (APAC)
126.96.36.199 Rest of Asia-Pacific (RoAPAC)
5.1.4 Latin America
188.8.131.52 Rest of Latin America
5.1.5 Middle East and Africa
5.2 Healthcare IT Solutions Market Size, By End-User
5.2.1 Healthcare Providers
184.108.40.206 Ambulatory Care Centers
220.127.116.11 Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
18.104.22.168 Diagnostic and Imaging Centers
5.2.2 Healthcare Payers
22.214.171.124 Private Payers
126.96.36.199 Public Payers
The study involved four major activities to estimate the current market size for healthcare IT solutions. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, trade directories, and databases such as D&B Hoovers and Bloomberg Businessweek were referred to identify and collect information for this study.
The healthcare IT solutions market comprises several stakeholders such as Healthcare IT solution providers healthcare IT vendors, healthcare IT service providers, healthcare payers, academic research institutes, government institutes, market research & consulting firms and venture capitalists & investors. Primary sources from the supply side include CEOs, vice presidents, marketing and sales directors, business development managers, and innovation directors of healthcare IT integration solutions companies. Demand-side primary sources include industry experts such as healthcare providers from hospitals and clinics and healthcare payers.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Top-down and bottom-up approaches were used to validate the size of the global healthcare IT solutions market and estimate the size of various other dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The Major players in the market were identified through secondary research and their market revenues determined through primary and secondary research.
- The market estimations in this report are based on the marketed sales price of healthcare IT integration devices and accessories, excluding any discounts provided by the manufacturer or distributor.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
After arriving at the market size, the total market was divided into several segments and sub segments. In order to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides.
Objectives of the Study
- To define, describe, and forecast the global healthcare IT solutions market on the basis of products, applications, and regions.
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).
- To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To forecast the size of the healthcare IT integration market with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World.
- To strategically profile the key players in the global healthcare IT integration market and comprehensively analyze their core competencies.
- To track and analyze competitive developments such as joint ventures and alliances, mergers and acquisitions, new product developments, and R&D activities of the leading players in the global healthcare IT solutions market.
Growth opportunities and latent adjacency in Healthcare IT Solutions Market