New York, United States , Nov. 30, 2023 (GLOBE NEWSWIRE) -- The Global Healthcare Technology Management Market size is to grow from USD 6.40 Billion in 2022 to USD 20.78 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.5% during the forecast period.
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Healthcare Technology Management (HTM) is a multidisciplinary field that encompasses the planning, procurement, maintenance, and utilization of medical technologies to ensure their safe and efficient operation within healthcare settings. HTM professionals play a crucial role in bridging the gap between medical and technical domains, overseeing the lifecycle of equipment such as diagnostic machines, patient monitoring systems, and therapeutic devices. They collaborate with clinicians, administrators, and manufacturers to assess needs, select appropriate technologies, conduct preventive maintenance, troubleshoot issues, and manage technology obsolescence.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Healthcare Technology Management Market Size, Share, and COVID-19 Impact Analysis, By Component (Services, Software, and Hardware), By Delivery Mode (On-Premises and Cloud-Based), By End-User (Healthcare Providers and Healthcare Payers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032
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In 2022, the software segment accounted for around 40.5% market share
On the basis of the component, the global healthcare technology management market is segmented into services, software, and hardware. The software segment has secured the largest market share in the healthcare technology management (HTM) market due to its pivotal role in streamlining and enhancing management practices. HTM software solutions offer comprehensive asset management, preventive maintenance scheduling, performance analytics, and regulatory compliance tracking. These digital tools enable healthcare facilities to efficiently monitor equipment usage, detect potential issues, and ensure timely maintenance, ultimately optimizing equipment lifespan and minimizing downtime. As healthcare institutions increasingly prioritize data-driven decision-making, the software segment's ability to provide real-time insights and predictive analytics further solidifies its dominance, driving improved operational efficiency and cost savings across the HTM landscape.
The cloud-based segment is expected to grow at a higher CAGR of around 12.6% during the forecast period
Based on the delivery mode, the global healthcare technology management market is segmented into on-premises and cloud-based. The cloud-based segment of the healthcare technology management (HTM) market is projected to experience rapid growth during the forecast period due to several key factors. Cloud-based HTM solutions offer flexibility, scalability, and accessibility, allowing healthcare institutions to efficiently manage and monitor medical equipment remotely. This enables real-time data sharing, streamlined collaboration among different departments, and predictive maintenance through data analytics. As the demand for remote healthcare solutions and digital connectivity continues to rise, the cloud-based segment is well-positioned to cater to these needs, facilitating enhanced equipment management and driving its accelerated growth in the HTM market.
The healthcare providers segment held the largest market with more than 63.8% revenue share in 2022
Based on the end-user, the global healthcare technology management market is segmented into healthcare providers and healthcare payers. The healthcare providers segment has captured the largest market share in the healthcare technology management (HTM) market due to its pivotal role as the end-users of HTM services. Healthcare providers, including hospitals, clinics, and ambulatory surgical centers, heavily rely on well-maintained medical equipment to deliver quality patient care. With the increasing complexity of medical technologies, these institutions require comprehensive HTM solutions to ensure optimal equipment performance, regulatory compliance, and patient safety. By partnering with HTM professionals or outsourcing HTM services, healthcare providers can focus on their core functions while entrusting the management, maintenance, and efficient utilization of medical devices to experts, driving the segment's market dominance.
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Europe is predicted to grow at a significant CAGR over the projected period.
Based on region, Europe is expected to have substantial growth in the healthcare technology management (HTM) market during the forecast period due to increasing healthcare modernization initiatives, which fuels the demand for effective HTM solutions. Stricter regulatory standards encourage the adoption of advanced management practices to ensure equipment compliance and patient safety.
North America dominates the healthcare technology management (HTM) market with the largest market share due to robust healthcare infrastructure, technological advancements, and higher healthcare spending. Additionally, a well-established regulatory framework ensures compliance and safety standards. Investment in cutting-edge medical equipment and a focus on research and development further drive the HTM market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the, Some of the major players in the global healthcare technology management market include GE Healthcare, TRIMEDX, Siemens Healthineers, Koninklijke Philips N.V., Sodexo, Crothall Healthcare, Agility Inc., RENOVO Solutions, ABM Industries Incorporated, JANNX Medical System, and InterMed Group.
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Recent Market Developments
- In April 2022, GE Healthcare and Medtronic, an American-Irish registered medical device business, have announced a partnership to address the particular needs and demand for treatment at Ambulatory Surgery Centres (ASCs) and Office Based Laboratories (OBLs). Our relationship with Medtronic is one component of our efforts to improve efficiency, workflow, and clinical results for GE Healthcare ASCs and OBLs.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global healthcare technology management market based on the below-mentioned segments:
Healthcare Technology Management Market, By Component
- Services
- Software
- Hardware
Healthcare Technology Management Market, By Delivery Mode
- On-Premises
- Cloud-Based
Healthcare Technology Management Market, By End-User
- Healthcare Providers
- Healthcare Payers
Healthcare Technology Management Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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