Healthcare IT Market Size Worth $1,636.52 Billion By 2030 | CAGR: 21.6%

The global healthcare IT market size is expected to reach USD 1,636.52 billion by 2030, according to a new study by Polaris Market Research. The report “Healthcare IT Market Share, Size, Trends, Industry Analysis Report, By Product & Services (Healthcare Provider Solutions, Healthcare Payer Solutions, Healthcare IT Outsourcing Services); By Component (Hardware, Software, Service), by End User; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing number of medical operations, increased knowledge about the advantages of automated aided medical operations, and a rising number of traffic incidents are among the factors expected to increase the adoption of information technology solutions in the medical industry over the forecast period. Furthermore, lower operating costs, decreased medical mistakes, and improved clinical results are among other factors expected to follow the growing trend.

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Furthermore, the medical information technology market is seeing continuous expansion, which is primarily driven by ongoing technological innovation, the growing requirement to manage client information on a unified network, and the provision of higher-quality health care to patients. Moreover, the increasing prevalence of chronic diseases such as diabetes and heart illnesses worldwide due to improper living is expected to propel market demand in the coming years.

Software component segment is expected to grow at the fastest pace throughout the forecast period. This is due to the rising market demand for specialized solutions for suppliers, a high deployment rate among payers and providers, and greater worldwide awareness of the usage of interoperable technologies.

North America is expected to dominate the market during the forecast period due to the presence of significant players such as Cognizant Technology Solutions and Oracle Corporation. Furthermore, increasing government initiatives to improve treatment quality is expected to contribute to the rising trends. Asia Pacific is anticipated to hold a significant share over the projected period due to the increasing prevalence of chronic illnesses in the older population along with rapid infrastructural development in emerging economies such as India and China.

Major market players include 3M, Allscripts Healthcare Solutions, Inc., Afga Gevaert Group, Athenahealth, Inc., Cognizant, Carestream Health, Conifer Health, eClinicalworks, GE Healthcare, Dell Technologies, Tata Consultancy Services, Hewlett-Packard Enterprise, Inter Systems, IBM, Mckesson Corporation, Nuance, Novarad Corporation, Oracle Corporation., Orion Health, SAS Institute, and Wipro Limited.

Polaris market research has segmented the Healthcare IT market report based product & service, component, end-user and region:

Healthcare IT, Product & Service Outlook (Revenue - USD Billion, 2018 - 2030)

• Provider Solutions (Clinical Solutions, Non-Clinical Solutions)
• Payer Solutions
  • Patient Administration System (PAS)
  • Facility Management services (FMS)
  • Member Eligibility Management Solutions (MEMS)
  • Billing accounts and Management Solutions (BAMS)
  • Customer Relationship Management solution (CRMS)
  • Population Health Management Solutions (PHMS)
  • Claim Management Solutions (CMS)
  • Network Management Systems (NMS)
  • Others
• IT Outsourcing Services
  • Payers IT
  • Provider
  • Operation
  • IT Infrastructure Management Services

Healthcare IT, Component Outlook (Revenue - USD Billion, 2018 - 2030)

• Hardware
• Software
• Service

Healthcare IT, End-User Outlook (Revenue - USD Billion, 2018 - 2030)

• Payer
• Public Payers
• Private Payers
• Providers
• Ambulatory Care Centers
• Hospitals

Healthcare IT, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Netherlands
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa