Healthcare IT Market

Cerner Corporation (U.S.), McKesson Corporation (U.S.), GE Healthcare (U.S.), Allscripts Healthcare Solutions Inc, (U.S.), Philips Healthcare (Netherlands), and Epic Systems Corporation (U.S.) are some of the leading players in the Healthcare IT Market

Although, the global healthcare IT market is largely fragmented in nature. Cerner Corporation (U.S.), GE Healthcare (U.S.), Allscripts Healthcare Solutions Inc, (U.S.), Philips Healthcare (Netherlands), and Epic Systems Corporation (U.S.) are some of the leaders in the clinical healthcare IT solutions market. Whereas, the non-clinical healthcare IT market is dominated by players such as Oracle Corporation (U.S.), Infor, Inc. (U.S.), SAP AG (Germany), McKesson Corporation (U.S.). While product innovations remain at the center of strategic growth initiatives from majority of the key vendors in the global healthcare IT market, these players are also focusing on increasing their presence in the high growth markets through expansions, strategic marketing and distribution agreements, and acquisitions. Currently, the Asia-Pacific countries are at the focus on geographic expansions from leading players in the global healthcare IT market.

Cerner Corporation is one of the top leading players on healthcare IT market. The company is strongly engaged in R&D activities to create new innovative solutions and services. In addition to R&D investment, the company is focused on acquisitions in order to strengthen its HCIT product portfolio and increase its markets share in all the geographies across the globe. For instance, in February 2015, the company acquired Siemens AG’s health information technology business unit and Siemens health services business unit. The acquisition helped to strengthen their customer base in Europe. Cerner has a strong presence around the world and offers its products throughout North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

McKesson Corporation is among the top five players in healthcare IT market. The company has a strong presence in the U.S. market and also has a healthy presence in Europe, Asia-Pacific, Latin America, and the Middle East & Africa. To sustain their leading position the company strongly invests in R&D activities. In 2015, the company invested USD 392 million to develop innovative products and to enhance their products from getting obsolete. Additionally, the company also invests in acquisitions. For instance, in 2015, the company invested USD 4 billion in acquisition activities.

Philips Healthcare is one of the top companies in the healthcare IT market. The company has a robust product offering in PACS, RIS, telehealth solutions, big data analytics, system integration services, and asset management services. The company invested USD 1090.7 million, which is 23.4% more than the last year investment in R&D activities to innovate new technologies. Other than North America and Europe, Philips Healthcare has a very strong geographic presence in Asia-Pacific, Latin America, and the Middle East & Africa which is an advantage of the company to compete with other local market players.

Allscripts Healthcare Solutions, Inc. offers robust sets of clinical, financial and population health management solutions. The company also provides comprehensive services for healthcare payers. The company’s wide range of product portfolio helps it sustain its leading position in the healthcare IT market. Moreover, the company emphasizes on investing a significant amount in their R&D activities to develop new solutions and to enhance older products that help them to maintain compliance with evolving regulations. This also helps them to create new opportunities to increase their customer base. However, the company does not have a significant presence internationally. Its operation mainly depends on the North American market. In 2015, the company earned 97% of its revenue from their domestic market. However, the company has increased the effort to expand their business in the U.K., the Middle East, Asia, and Australia by acquisitions, agreements, and collaborations. For instance, in December 2016, the company acquired Core Medical Solutions (Australia), a company focused on delivering electronic medical record (EMR) solutions. Through this acquisition, Allscripts extended its presence in Australia.

GE Healthcare offers comprehensive HCIT solutions and consulting services to healthcare organizations. The company provides integrated care solution like enterprise imaging, care delivery management, population health management, and financial management that helps its customers to achieve better clinical and financial outcomes. The company focuses on developing niche products in order to maintain its leadership position in the market. For instance, the company is one of the top market players in the radiation dose management market. To maintain its position in the market, in June 2015, the company launched its new flagship product, DoseWatch Explore, which analyze, identify, and optimize radiation dose performance. In addition, the company has a strong customer base around the world due to its wide geographic presence. This also helps the company maintain its position in this market.

Some other leading players in the global healthcare IT solutions market include Infor, Inc. (U.S.), Cognizant Technology Solutions Corporation (U.S.), Oracle Corporation (U.S.), athenahealth, Inc. (U.S.), Dell Technologies (U.S.), and Optum, Inc. (U.S.). These companies have a strong global footprint owing to their well-established sales and distribution networks. They also make significant investments in R&D activities to add innovative technologies and products to their portfolio. With a strong portfolio of healthcare IT solutions and ceaseless efforts to develop innovative products, these companies are likely to maintain their strong position in the market in the coming years as well.

Related Reports:

Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management, Claims Management) End User (Provider, Payer) - Global Forecast to 2021

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Report Code
HIT 2005
Published ON
Mar, 2017
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