Healthcare IT Market size to grow by USD 168.86 billion from 2022 to 2027, North America to account for 46% of market growth - Technavio

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Nov 30, 2023, 18:15 ET

NEW YORK, Nov. 30, 2023 /PRNewswire/ -- The healthcare IT market is expected to grow by USD 168.86 billion from 2022 to 2027. In addition, the market's momentum will progress at a CAGR of 10.89% during the forecast period, according to Technavio Research. The market has been segmented by end-user (healthcare providers and healthcare payers), component (services, software, and hardware), and geography (North America, Europe, APAC, South America, and Middle East and Africa). North America is estimated to contribute 46% to the growth of the global market during the forecast period. There are several key factors contributing to this growth, namely a growing integration of data with government initiatives, an aging population, and increased use of mobile health applications. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a PDF Sample Report

Technavio has announced its latest market research report titled Global Healthcare IT Market 2023-2027

Company Profile

3M Co., Allscripts Healthcare Solutions Inc., Athenahealth Inc., Cognizant Technology Solutions Corp., Dassault Systemes SE, Datavant, Dell Technologies Inc., Epic Systems Corp., General Electric Co., International Business Machines Corp., Koninklijke Philips NV, McKesson Corp., Microsoft Corp., Oracle Corp., SAS Institute Inc., Siemens AG, Tata Consultancy Services Ltd., Tenet Healthcare Corp., UnitedHealth Group Inc., and Wipro Ltd.

Oracle Corp. - The company offers healthcare IT such as Oracle cloud infrastructure.

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Healthcare IT Market: Segmentation Analysis

Based on the end-user segment, healthcare providers hold the largest market share. Hospitals, clinics, laboratories, pharmacies, or ambulatory institutions are treated as healthcare providers.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Healthcare IT Market: Market Dynamics

Rising need for automation across departments
Increasing focus on improving the quality of services and efficiency
Growing integration of big data with healthcare IT

Key Driver

The rising need for automation across departments is a key factor driving market growth. Cost, time, and effort are reduced by automation of the healthcare procedures while improving treatment quality and efficiency. Providers are increasing their investments in such solutions, given the benefits of automation for improved efficiency and reduced time and effort for healthcare stakeholders.

Major Trend

Healthcare providers and government agencies leveraging social media analytics is a major trend in the market.

Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.

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The smart wearable healthcare devices market size is estimated to grow by USD 24.22 billion at a CAGR of 15.51% between 2023 and 2028.

The microfluidic market for healthcare application size is estimated to grow by USD 59.76 billion at a CAGR of 20.16% between 2022 and 2027.

What are the key data covered in this healthcare IT market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the healthcare IT market between 2022 and 2027.
Precise estimation of the healthcare IT market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the healthcare IT market across North America, Europe, Asia, and ROW
A thorough analysis of the market's competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of healthcare IT market companies.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Component

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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SOURCE Technavio