Healthcare IT Market

The healthcare IT market is projected to reach USD 961.26 billion by 2030 from USD 480.49 billion in 2025, at a high CAGR of 14.9% during the forecast period. The prime driving force for this increase is the escalating ROI that is being realized via the implementation of healthcare information technology solutions for hospitals and clinics, as they try and improve the efficiency and effectiveness of their entities, as well as focus on lowering the expenditure required for providing quality care. The intensified demand for efficiently managing patients, employees, and care processes is accelerating the demand for diverse technological solutions, including EHRS, eRX, and mHealth solutions. Apart from this, the innovations and rapid evolution of technologies such as cloud technology, interoperations, analytics based on artificial intelligence, and telehealth technologies are compelling the healthcare entities to modernize their IT infrastructure and models. The technologies have a tremendous approach towards the provision of care, and this is extremely data-driven and patient-centric, along with the concept of sustainability of costs.

The healthcare IT market is dominated by key players. The major players operating in this market are Optum, Inc. (US), Cognizant (US), Koninklijke Philips N.V. (Netherlands), Oracle (US), GE Healthcare (US), Dell Inc. (US), Wipro (India), eClinicalWorks (US), SAS Institute Inc. (US), Inovalon (US), Infor (US), Conifer Health Solutions, LLC. (US), Nuance Communications, Inc. (US), 3M (US), Merative (US), Epic Systems Corporation. (US), InterSystems Corporation (US), Veradigm (US), Salesforce, Inc. (US), CitiusTech (US), Conduent, Inc. (US), Carestream Health (US), Practice Fusion, Inc. (US), TATA Consultancy Services Limited (India), Elsevier (Netherlands), MedeAnalytics, Inc. (US), Medicision (US), Surgical Information Systems (Georgia), Chartis (US), and Clearwave Corporation (Georgia).

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Optum, Inc.

Optum, Inc. (part of the UnitedHealth Group) provides HCIT solutions to healthcare payers, providers, employers, and government & life science companies. The company serves its solutions and services to more than 280 healthcare payers, 5,000 hospitals, and over 100,000 healthcare facilities in the US. The company focuses on forming strategic partnerships and driving innovation in digital health solutions to enhance patient care and reduce costs, especially in areas like value-based care and population health management. A notable example of its strategy is the recent completion of a USD 7.8 billion merger with Change Healthcare, which gives it access to data from millions of healthcare transactions and boosts its IT capabilities for the US population.

Cognizant

Cognizant is an IT, consulting, and business process services company. The company provides digital services and solutions, including consulting, application development, systems integration, application testing, application maintenance, infrastructure, and business process management. Cognizant operates in major metropolitan areas across nearly 50 countries, with its headquarters located in a leased facility in Teaneck, New Jersey, US. The company employs a global delivery model, which encompasses delivery centers worldwide, including both in-country, regional, and global facilities. The company focuses on inorganic strategies. For instance, in July 2024, Cognizant partnered with Unitywater to sign a five-year deal that envisioned the upgrade of its digital infrastructure and the improvement of its operational efficiency in serving Queensland for more than 800,000 customers. In December 2023, Cognizant acquired Thirdera, one of ServiceNow's partners, and onboarded more than 940 associates, creating one of the largest ServiceNow teams in the world with 2,400 specialists and 14,000 certifications.

Oracle

Oracle is a globally leading technology firm with revenues of approximately USD 53 billion in fiscal 2024. The company recently proceeded with a massive acquisition of USD 28.4 billion in June 2022, with the objective of enhancing its healthcare business by acquiring Cerner Corporation. The company also unveiled new partnerships aimed at optimizing patient care and business through endeavors in cybersecurity, interoperability, or both. Oracle Health Data Warehouse has recently been discovered as the best solution in healthcare technology. Its users experienced an impressive return on investment of 417% in five years.

Market Ranking

Device and corporate IT companies, such as Koninklijke Philips N.V., GE Healthcare, Dell Technologies Inc., and Infor (owned by Koch Industries), are providing many of the larger Healthcare Organizations with integrated clinical systems, Imaging Informatics, materials ERP, and IT infrastructure. Although the above-mentioned corporations are leading the digitization of healthcare processes based on their comprehensive portfolio of solutions, there are several other corporations in the market, including eClinicalWorks, Veradigm LLC, Conifer Health Solutions, 3M, and Merative, which maintain their strong market stance based on their solutions related to the specific needs of healthcare operations rather than the general healthcare digitization platforms. These corporations provide solutions for ambulatory care enablement, revenue cycle management, population health, and clinical analytics.

Related Reports:

Healthcare IT Market by Solution [Clinical (EHR, PHM, PACs & VNA, Telehealth, RCM, CDSS, LIS), Nonclinical (Analytics, RCM, Pharmacy, Interoperability), Service (Claim, Billing, Supply)], End User (Hospital, ASC, Pharmacy, Payer) - Global Forecast to 2030

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