Westford, June 27, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the healthcare IT market will attain a value of USD 736.09 billion by 2031, with a CAGR of 17.80% during the forecast period (2024-2031). One of the fast-growing markets that involves the development of and application of innovative technologies to help in enhancing healthcare outcomes. This market is growing because of the challenges that health care is facing, and this includes cost escalations, rising demand for quality healthcare, and efficient and effective delivery of healthcare. There are various key trends as well as opportunities in the healthcare IT market. These are expected to propel market growth for the next years.
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Browse in-depth TOC on "Healthcare IT Market"
- Pages - 219
- Tables - 65
- Figures – 75
Healthcare IT Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 198.50 Billion |
| Estimated Value by 2031 | $ 736.09 Billion |
| Growth Rate | Poised to grow at a CAGR of 17.80% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing Research and Development to Surge Adoption of Healthcare ITs |
| Key Market Drivers | Growing demand for telemedicine |
Hospitals and Clinics to Dominate the Market Share Due to Growing Occurrence of Diseases
The largest market share is generated by the hospitals and clinics, and it will remain so throughout the period under forecast. The increase in the number of diseases makes the need for better healthcare facilities, increase in the need for effective operations and reduced healthcare cost are some factors which significantly derives the demand for healthcare IT solutions among hospitals/clinics.
Diagnostic Centers & Imaging Facilities To be the Fastest Growing Segment by Offering Enhanced Imaging Techniques
Diagnostic centers and imaging facilities can also be classified as the fastest-growing segment of the healthcare IT market. This can be attributed to such factors as the rising need for accurate and efficient diagnosis and enhanced imaging techniques. The segment is anticipated to reach a higher CAGR during the forecast period due to an increase in incidence of chronic diseases and global procedures in imaging.
Expansion of Smartphone Usage Helps North America to Dominate the Healthcare IT Market
North America emerged as the largest market globally for healthcare IT. Smartphone penetration in the region is steadily increasing, healthcare spending on IT is growing and many large organizations are also present in this sector, which will help the region to experience strong growth in the future. Similarly, there is a rising demand for healthcare IT solutions since the care industry in North America is incorporating IT solutions in delivery of services. The market expansion is also supported by the region’s density of such well-established healthcare facilities and research institutes.
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Healthcare IT Market Insights:
Drivers
- Growing demand for telemedicine
- Growing Focus on Patient-Centered Care
- Advancements in big data analytics
Restraints
- High implementation costs
- Data privacy and security concerns
- Lack of Skilled workforce and Limited Digital Infrastructure
Prominent Players in Healthcare IT Market
The following are the Top Healthcare IT Companies
- Cerner Corporation
- Epic Systems Corporation
- Allscripts Healthcare Solutions, Inc.
- McKesson Corporation
- UnitedHealth Group
- Athenahealth, Inc.
- GE Healthcare
- Philips Healthcare
- Siemens Healthineers AG
- Agfa Healthcare
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Key Questions Answered in Healthcare IT Market Report
- What is the projected value for healthcare IT market in the year 2031?
- What drives the healthcare IT market growth?
- Who are the leading healthcare IT market players in the world?
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of healthcare IT market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the healthcare IT market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
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Westford,
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USA (+1) 351-333-4748
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