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Healthcare IT Outsourcing Market to Reach US$61.2 bn by 2023, Increasing Demand for Cost-efficient IT Administrative Services Drives Growth

Posted on: 20 Sep 16

Market Research Reports Search Engine (MRRSE) has recently announced the addition of a new study on the global healthcare IT outsourcing market. The report, titled “Healthcare IT Outsourcing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” is published by Transparency Market Research (TMR). 

According to the study, the worldwide market for healthcare IT outsourcing is likely to rise at a CAGR of 6.70% during the period from 2015 to 2023 and reach US$61.2 bn by the end of the forecast period.

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The infrastructural development of the global medical and healthcare industry, increasing demand for cost-efficient IT administrative services, and the rising number of government initiatives, encouraging technology-driven reasonably-priced healthcare services, are likely to drive the growth of this market significantly in the coming years, states the study.

In this report, the global healthcare IT outsourcing market has been evaluated on the basis of the application, the end user, and the regional distribution of the market. Based on the application, the market has been classified into administration, care management, and IT infrastructure management. Among these, the administration segment dominated the overall market in 2014 with a share of 37%. However, the care management segment is projected to expand at the fastest CAGR of 8.30% over the forecast period.

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Based on the end user, the market has been categorized into healthcare payers and healthcare providers. In 2014, the healthcare providers segment led this market with a majority share. The increased need for cost-efficient healthcare IT services in large as well as medium-sized healthcare organizations drove the demand for healthcare IT outsourcing in this end-use segment. However, the healthcare payers segment is estimated to record the fastest growth at a CAGR of 7.0% during the forecast period, states the report.

Regionally, the report segments the global healthcare IT outsourcing market into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. North America emerged as the leading regional market for healthcare IT outsourcing in 2014 with a share of more than 40%. However, Asia Pacific is likely to register the fastest CAGR of 10.50% over the forecast period, notes the market study.

HCL Technologies Ltd., Tata Consultancy Services Ltd., IBM Corp., McKesson Corp., Accenture Plc., Cognizant Technology Solutions, Wipro Ltd., Infosys Ltd., L&T Infotech, and Allscripts Healthcare Solutions Inc. are some of the key companies operating in the worldwide healthcare IT outsourcing market, states the research report.

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Last updated on: 20/09/2016

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