Healthcare IT Market Technology Innovation Analysis with Key Players, Applications, Trends and Forecast To 2026
The Healthcare IT Market has witnessed significant growth in the recent years due to increase in demand for quality healthcare services & solutions along with patient safety & care, proactive supportive government initiatives, and growing acceptance of mHealth & telehealth practices. Increasing adoption of smartphones and patient-doctor convenience are factors driving healthcare IT market growth. According to Shubhangi Bawkar, Senior Analyst – Healthcare Research at Allied Market Research, “Major factor contributing to the growth of the healthcare IT market is increase in healthcare organizations, which have posed several challenges such as management of patient data, need to curtail operational costs, and demand for enhanced healthcare services”. “However, limited knowledge regarding HCIT among individuals and high deployment cost incurred for establishment of infrastructure are expected to hamper the market growth during the forecast period.” She further added
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Healthcare provider solutions segment is expected to continue its dominance throughout 2026, owing to the increasing demand for healthcare provider solutions and electronic health records (EHRs) to manage hospitals, nursing homes, pharmacies, and others. Moreover, the implementation of the “Affordability Care Act” has contributed towards the market growth. EHRs, mHealth, telehealth, and digital pathology segments are expected to be the key contributors to the global market revenue during the analysis period. The clinical solutions segment is expected to grow at a CAGR of 19.3%, owing to implementation of various HCIT-related government initiatives and rising demand for HCIT solutions in healthcare organizations for cost reduction in clinical aspects such as radiation dose management, electronic medical records, vendor neutral archive (VNA), clinical decision support systems, laboratory information systems, digital pathology solution, and medical image processing & analysis systems.
The key players operating in the healthcare IT market are United Healthcare Group (U.S.); McKesson Corporation (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.); Athenahealth, Inc. (U.S.); Epic Systems Corporation (U.S.), GE Healthcare (UK), Cerner Corporation (U.S.), Oracle Corporation, Koninklijke Philips N.V. (The Netherlands) and Infor, Inc. (U.S.).
Claims management solutions segment controlled the largest share of healthcare Payer Solutions market in 2015. This huge demand was mainly due to the complexity in the data management from large number of insured patient population. Moreover, increasing fraudulent activities has made the use of advance healthcare payer methods essential for insurance companies.
North America was the leading regional market attributed to high adoption of HCIT solutions & services, well-established healthcare systems, hub to numerous renowned HCIT players. However, Asia-Pacific is anticipated to grow rapidly, registering a CAGR of 15.3% during the analysis period, due to increasing awareness about the benefits of HCIT solutions. In addition, improving healthcare infrastructures and increase in healthcare expenses in the emerging markets, such as India and China, are expected to boost the HCIT market in this region.
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