Healthcare IT Market

Healthcare IT Companies - Optum, Inc. (US) and Cerner Corporation (US) are Leading Players

The global healthcare IT market is projected to reach USD 974.5 billion by 2027 from USD 394.6 billion in 2022, at a CAGR of 19.8% during the forecast period. Growth in this market is driven by the government mandates and support for healthcare IT solutions, the rising adoption of big data analytics, and the need to reduce the escalating healthcare costs. However, high cost of deployment of HCIT solutions for small and medium-sized hospitals in emerging countries is expected to restrain the growth of this market to a certain extent.

Prominent players in the global healthcare IT market include:

  • Optum, Inc. (US),
  • Cerner Corporation (US),
  • Cognizant (US),
  • Change Healthcare (US),
  • Koninklijke Philips (Netherlands), and many more....

These companies adopted strategies such as product launches, agreements, partnerships, expansions, collaborations, and acquisitions to strengthen their market presence in the healthcare IT market.

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Optum, Inc. (US):

Optum, Inc. (US) was one of the leading market players in the healthcare IT market in 2021. Optum, Inc. provides HCIT solutions to healthcare payers, providers, employers, and government & life science companies. The company primarily operates through three business segments—OptumHealth, OptumInsight, and OptumRx. The OptumHealth segment is involved in care delivery, care management, wellness & consumer engagement, and health financial services. The OptumInsight segment provides software & information products, such as clinical documentation solutions, advisory consulting services, and business process outsourcing, to organizations in the healthcare industry. OptumRx provides solutions and services to the pharmacy sector. The company invests USD 6.4 billion in technology and innovation annually and has offices worldwide with a prominent presence in the US, Australia, the UK, Canada, Brazil, Singapore, and India.

Cerner Corporation (US):

Cerner Corporation is a global provider of HCIT solutions. The products and services offered by the company include HCIT solutions, medical device integration solutions, professional services, remote hosting services, document management, imaging solutions, and other health and welfare services. The company offers these solutions through seven main segments—Licensed Software, Technology Resale, Subscriptions, Professional Services, Managed Services, Support and Maintenance, and Reimbursed Travel. The major end users of the company’s products include hospitals, single-doctor practices, healthcare providers, individual consumers, employer groups, and healthcare payers. Around 25,000 facilities license the company’s solutions in over 35 countries, including hospitals, physician practices, ambulatory facilities (such as laboratories, behavioral health centers, cardiac facilities, radiology clinics, and surgery centers), extended care facilities, employer sites, and retail pharmacies. The company operates through several subsidiaries, including Cerner Deutschland GmbH (Germany), Cerner France, Cerner Iberia S.L. (Spain), Cerner Ireland Ltd., and Cerner Limited (UK). Cerner is consistently improving its product offerings by integrating its PHM solutions with other healthcare IT solutions such as telehealth, EHR, and patient portal platforms to promote virtual patient care.

Prominent manufacturers in the global healthcare IT market include:

  • Epic Systems Corporation (United States),
  • Allscripts Healthcare Solutions (United States),
  • Siemens Healthineers (Germany),
  • TPP (The Phoenix Partnership) (United Kingdom),
  • MEDITECH (Medical Information Technology, Inc.) (Canada/United States), and many more....

These companies represent a diverse range of healthcare IT manufacturers, each contributing unique expertise, technology, and solutions to improve healthcare delivery and patient outcomes on a global scale.

Epic Systems Corporation (United States):

  • Epic Systems Corporation, founded in 1979 and based in Verona, Wisconsin, is one of the largest providers of healthcare IT solutions globally.
  • Their flagship product is the Epic Electronic Health Record (EHR) system, which integrates various aspects of patient care and management for healthcare organizations.
  • Epic's software is renowned for its usability, interoperability, and comprehensive functionality, catering to the needs of hospitals, clinics, and healthcare systems of all sizes.
  • The company emphasizes collaboration with healthcare providers to tailor solutions to specific workflows and requirements, ensuring effective implementation and adoption.

Allscripts Healthcare Solutions (United States):

  • Allscripts Healthcare Solutions, headquartered in Chicago, Illinois, offers a range of healthcare IT solutions and services.
  • Their portfolio includes electronic health records (EHR), practice management, revenue cycle management, and population health management solutions.
  • Allscripts serves healthcare organizations globally, focusing on improving clinical, financial, and operational outcomes through technology-driven solutions.
  • The company's offerings are designed to enhance patient care coordination, streamline administrative processes, and support data-driven decision-making in healthcare settings.

Siemens Healthineers (Germany):

  • Siemens Healthineers, a subsidiary of Siemens AG, is headquartered in Erlangen, Germany, and operates in the healthcare technology sector.
  • They provide a wide range of medical imaging, laboratory diagnostics, and healthcare IT solutions to healthcare providers worldwide.
  • Siemens Healthineers is known for its innovative diagnostic imaging systems, laboratory diagnostics equipment, and digital health solutions aimed at improving patient care and clinical outcomes.
  • The company places a strong emphasis on research and development, driving technological advancements in medical imaging, diagnostics, and healthcare informatics.

TPP (The Phoenix Partnership) (United Kingdom):

  • TPP, based in Leeds, United Kingdom, is a healthcare technology company specializing in electronic health records (EHR) and clinical software solutions.
  • Their flagship product, SystmOne, is a comprehensive EHR platform used by healthcare organizations across the UK and internationally.
  • TPP's solutions focus on interoperability, data sharing, and patient engagement, enabling seamless communication and collaboration among healthcare providers and patients.
  • The company is committed to developing user-friendly, clinically driven software that enhances efficiency, improves patient safety, and supports evidence-based care delivery.

MEDITECH (Medical Information Technology, Inc.) (Canada/United States):

  • MEDITECH, founded in 1969 and headquartered in Westwood, Massachusetts, USA, has roots in Canada and is a leading provider of healthcare information systems.
  • They offer electronic health records (EHR), hospital information systems, and healthcare management solutions to hospitals and healthcare organizations worldwide.
  • MEDITECH's solutions are designed to optimize clinical workflows, improve patient care coordination, and enhance operational efficiency across healthcare delivery settings.
  • The company focuses on customer collaboration, product innovation, and service excellence to meet the evolving needs of healthcare providers and support quality care delivery.

Related Reports:

Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions, & HCIT Outsourcing Services), Components (Services, Software, Hardware), End-User (Hospitals, Pharmacies, Payers), & Region - Global Forecasts to 2027

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Healthcare IT Market Size,  Share & Growth Report
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HIT 2005
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