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
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
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.
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"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Healthcare IT Market: Market Dynamics
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.
Healthcare providers and government agencies leveraging social media analytics is a major trend in the market.
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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?
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-User
Market Segmentation by Component
Market Segmentation by Geography
Drivers, Challenges, & Trends
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