Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions, & HCIT Outsourcing Services), Components (Services, Software, Hardware), End-User (Hospitals, Pharmacies, Payers), & Region - Global Forecasts to 2027

Abstract
The global healthcare IT market is projected to reach USD 974.5 billion by 2027 from USD 394.6 billion in 2022, at a CAGR of 19.8% during the forecast period. Growth in this market is driven by the growing government initiatives to support healthcare IT solutions, rising use of big data, and need to curtail escalating healthcare costs. However, high cost of deployment of HCIT solutions, resistance from traditional providers are expected to restrain the growth of this market to a certain extent.

“The telehealth solutions segment is projected to be the largest segment in the clinical healthcare IT market”

Based on the type of clinical HCIT solutions, the telehealth solutions segment is projected to be the largest segment during the forecast period. This is majorly attributed to the government initiatives for eHealth across the globe, the increasing need to improve the quality of care, growing consolidation among healthcare providers, and the rising adoption of digital and connected healthcare technologies. The demand for healthcare services and increased adoption of predictive analytics are also expected to fuel the growth of this segment.

“Healthcare Providers was the largest segment by the end user of healthcare IT market in 2021”

Healthcare providers segment is projected to grow at the highest growth rate in the healthcare IT market in 2021. Growing need to curtail healthcare costs, rising need for better financial outcomes, healthcare reforms, and the need to improve patient care while increasing operational efficiency is expected to drive the demand for healthcare IT services in the coming years.

“APAC to witness the highest growth rate during the forecast period.”

Asia Pacific HCIT market will experience significant growth during the forecast period. The growth of Asia Pacific HCIT market can be contributed to the factors such as the growing support from government to increase the adoption of HCIT solutions, improving healthcare infrastructure, increasing healthcare expenditure and increasing consumer purchasing power.

The break-down of primary participants is as mentioned below:
•By Company Type - Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
•By Designation - C-level: 35%, Director-level: 25%, and Others: 40%
•By Region - North America: 45%, Europe: 30%, Asia Pacific: 20%, Latin America: 3%, and Middle East & Africa: 2%.

Key players in the Healthcare IT Market
The key players operating in the healthcare IT market include Optum, Inc. (US), Cerner Corporation (US), Cognizant (US), Change Healthcare (US), Koninklijke Philips (Netherlands), Epic Systems Corporation (US), Dell Technologies, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), athenahealth (US), GE Healthcare (US), Oracle Corporation (US), Wipro Limited (India), IBM (US), eClinicalWorks (US), Infor (US), Conduent (US), Conifer Health Solutions, LLC (US), Nuance Communications, Inc. (US), 3M (US), SAS Institute, Inc. (US), Carestream Health (US), Inovalon (US), Practice Fusion, Inc. (US), Intersystems Corporation (US), Tata Consultancy Services (India).

Research Coverage:
The report analyzes the healthcare IT market and aims to estimate the market size and future growth potential of various market segments, based on product & services, components, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report
This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market.

Content
Table of Contents

1INTRODUCTION56
1.1STUDY OBJECTIVES56
1.2MARKET DEFINITION56
1.2.1INCLUSIONS AND EXCLUSIONS56
1.3STUDY SCOPE57
1.4YEARS CONSIDERED58
1.5CURRENCY CONSIDERED58
TABLE 1EXCHANGE RATES UTILIZED FOR CONVERSION TO USD58
1.6STAKEHOLDERS59
1.7SUMMARY OF CHANGES59
1.8LIMITATIONS59
2RESEARCH METHODOLOGY60
2.1RESEARCH APPROACH60
FIGURE 1RESEARCH DESIGN60
2.1.1SECONDARY RESEARCH61
2.1.2KEY DATA FROM SECONDARY SOURCES62
2.1.3PRIMARY DATA63
FIGURE 2PRIMARY SOURCES63
2.1.4KEY DATA FROM PRIMARY SOURCES64
2.1.5INSIGHTS FROM PRIMARY EXPERTS64
FIGURE 3BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION65
2.2MARKET SIZE ESTIMATION: HEALTHCARE IT MARKET65
FIGURE 4MARKET SIZE ESTIMATION65
FIGURE 5SUPPLY-SIDE MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS66
FIGURE 6COMPANY REVENUE SHARE ANALYSIS ILLUSTRATION: EHR MARKET67
FIGURE 7BOTTOM-UP APPROACH: END-USER ADOPTION RATE FOR EHR68
FIGURE 8TOP-DOWN APPROACH69
FIGURE 9CAGR PROJECTIONS FROM ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES (2022–2027)70
FIGURE 10CAGR PROJECTIONS: SUPPLY-SIDE ANALYSIS71
2.3MARKET BREAKDOWN & DATA TRIANGULATION72
FIGURE 11DATA TRIANGULATION METHODOLOGY72
2.4MARKET SHARE ESTIMATION73
2.5ASSUMPTIONS73
2.6LIMITATIONS73
2.6.1METHODOLOGY-RELATED LIMITATIONS73
2.6.2SCOPE-RELATED LIMITATIONS73
2.7RISK ASSESSMENT74
TABLE 2RISK ASSESSMENT: HCIT MARKET74
3EXECUTIVE SUMMARY75
FIGURE 12HEALTHCARE IT MARKET, BY PRODUCT & SERVICE, 2022 VS. 2027 (USD BILLION)75
FIGURE 13CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2022 VS. 2027 (USD BILLION)76
FIGURE 14NON-CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2021 VS. 2026 (USD BILLION)77
FIGURE 15HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2022 VS. 2027 (USD BILLION)78
FIGURE 16HEALTHCARE IT MARKET, BY END USER, 2022 VS. 2027 (USD BILLION)79
FIGURE 17HEALTHCARE IT MARKET, BY COMPONENT, 2022 VS. 2027 (USD BILLION)80
FIGURE 18GEOGRAPHICAL SNAPSHOT81
4PREMIUM INSIGHTS82
4.1HEALTHCARE IT MARKET OVERVIEW82
FIGURE 19NEED TO CURTAIL ESCALATING HEALTHCARE COSTS & HIGH RETURNS ON INVESTMENT FOR HCIT SOLUTIONS TO DRIVE MARKET GROWTH82
4.2HEALTHCARE IT MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES83
FIGURE 20CHINA TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD83
4.3NORTH AMERICA: HEALTHCARE IT MARKET, BY PRODUCT & SERVICE AND COUNTRY (2021)84
FIGURE 21HEALTHCARE PROVIDER SOLUTIONS SEGMENT TO DOMINATE NORTH AMERICAN MARKET IN 202184
4.4REGIONAL MIX: HEALTHCARE IT MARKET85
FIGURE 22APAC TO REGISTER HIGHEST GROWTH DURING 2022–202785
4.5HEALTHCARE IT MARKET: DEVELOPED VS. DEVELOPING MARKETS85
FIGURE 23DEVELOPING MARKETS TO REGISTER HIGHER GROWTH FROM 2022 TO 202785
5MARKET OVERVIEW86
5.1INTRODUCTION86
5.2MARKET DYNAMICS86
FIGURE 24HEALTHCARE IT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES86
TABLE 3DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: IMPACT ANALYSIS87
5.2.1KEY MARKET DRIVERS88
5.2.1.1Government mandates & support for HCIT solutions88
TABLE 4KEY GOVERNMENT INITIATIVES FOR EMR89
5.2.1.2Rising use of big data90
5.2.1.3High returns on investment associated with HCIT solutions91
5.2.1.4Need to curtail escalating healthcare costs91
FIGURE 25US HEALTHCARE SPENDING, 2012–2020 (USD BILLION)91
5.2.1.5Growing adoption of e-prescribing, telehealth, mHealth, and other HCIT solutions due to COVID-1992
5.2.1.6Growing mHealth, telehealth, and remote patient monitoring markets92
5.2.2KEY MARKET RESTRAINTS93
5.2.2.1IT infrastructural constraints in developing countries93
5.2.2.2High cost of deploying HCIT solutions in small and medium-sized hospitals in emerging countries93
5.2.2.3Resistance from traditional healthcare providers94
5.2.3KEY MARKET OPPORTUNITIES94
5.2.3.1Rising use of HCIT solutions in outpatient care facilities94
5.2.3.2Cloud-based EHR solutions94
5.2.3.3Shift toward patient-centric healthcare delivery95
5.2.4KEY MARKET CHALLENGES95
5.2.4.1Security concerns95
FIGURE 26US: NUMBER OF DATA BREACHES (2009–JUNE 2022)96
TABLE 5LARGEST HEALTHCARE DATA BREACHES IN THE WORLD (2022)96
5.2.4.2Interoperability issues98
6INDUSTRY INSIGHTS99
6.1US: EVOLUTION OF HCIT99
FIGURE 27US: EVOLUTION OF HCIT100
6.2INDUSTRY TRENDS101
6.2.1TECHNOLOGY GIANTS ENTERING HCIT101
6.2.2BIG DATA IN HEALTHCARE102
6.2.3CLOUD COMPUTING102
TABLE 6KEY CLOUD COMPUTING TOOLS & SAAS AVAILABLE IN THE MARKET103
6.2.4SMART ON FHIR103
6.3ADOPTION TRENDS104
6.3.1NORTH AMERICA: ADOPTION TRENDS104
TABLE 7US: INPATIENT EMR ADOPTION MODEL (EMRAM), 2017104
FIGURE 28US: HOSPITAL EHR ADOPTION (2007–2018)105
FIGURE 29US: OUTPATIENT EMR ADOPTION, Q2 2017105
6.3.2EUROPE: ADOPTION TRENDS106
FIGURE 30EUROPE: EHEALTH PRIORITIES IN HEALTH FACILITIES, 2019106
TABLE 8EHEALTH PRIORITIES FOR HEALTHCARE PROVIDERS IN EUROPE, BY COUNTRY107
FIGURE 31EUROPE: EHEALTH CHALLENGES FACED BY HEALTHCARE PROVIDERS, 2019108
6.3.3ASIA PACIFIC: ADOPTION TRENDS108
FIGURE 32ASIA PACIFIC: EMR & EHR ADOPTION RATES (2012 VS. 2015)108
6.3.4ROW: ADOPTION TRENDS109
6.4TECHNOLOGY ANALYSIS109
6.4.1MACHINE LEARNING109
6.4.2ARTIFICIAL INTELLIGENCE109
6.4.3INTERNET OF THINGS109
6.4.4BLOCKCHAIN109
6.4.5AUGMENTED REALITY110
6.5POTENTIAL HCIT TECHNOLOGIES110
6.5.1AI PLATFORMS110
6.5.2APP-ENABLED PATIENT PORTALS110
6.5.3MEDICAL DEVICE DATA INTEGRATION INTO CARE DELIVERY PROCESSES111
6.6AI IN HEALTHCARE MARKET111
TABLE 9AI IN HEALTHCARE MARKET, BY REGION, 2021–2027 (USD MILLION)112
6.7PRICING ANALYSIS112
6.7.1CLINICAL DECISION SUPPORT SYSTEMS: PRICING ANALYSIS112
TABLE 10AVERAGE SELLING PRICE OF CDSS SOLUTIONS, BY PRODUCT (2021)113
6.7.2HCIT INTEGRATION SOLUTIONS: PRICING ANALYSIS113
TABLE 11PRICING MODEL: HCIT INTEGRATION SOLUTIONS114
6.7.3LABORATORY INFORMATION SYSTEMS: PRICING ANALYSIS114
TABLE 12LABORATORY INFORMATION SYSTEMS MARKET: PRICING ANALYSIS116
6.7.4PATIENT REGISTRY SOFTWARE: PRICING ANALYSIS116
6.7.5POPULATION HEALTH MANAGEMENT SOLUTIONS: PRICING ANALYSIS117
6.7.6INITIAL FEES117
TABLE 13PRE-ELEMENT FEE FOR PHM SOLUTIONS117
6.7.7ANNUAL MAINTENANCE FEES117
TABLE 14ANNUAL MAINTENANCE FEE FOR PHM SOLUTIONS117
6.8PORTER’S FIVE FORCES ANALYSIS118
FIGURE 33MARKET MARKED BY HIGH INTENSITY OF RIVALRY118
TABLE 15HCIT MARKET: PORTER’S FIVE FORCES ANALYSIS118
6.9REGULATORY ANALYSIS120
6.9.1NORTH AMERICA120
6.9.2EUROPE121
6.9.3ASIA PACIFIC121
6.9.4MIDDLE EAST & AFRICA122
6.9.5LATIN AMERICA122
6.10VALUE-CHAIN ANALYSIS123
FIGURE 34VALUE-CHAIN ANALYSIS (2021)123
6.11ECOSYSTEM ANALYSIS124
FIGURE 35ECOSYSTEM ANALYSIS124
6.12PATENT ANALYSIS125
FIGURE 36TOP PATENT OWNERS AND APPLICANTS FOR HCIT SOLUTIONS (JANUARY 2011–NOVEMBER 2022)125
FIGURE 37PATENT ANALYSIS (JANUARY 2017–SEPTEMBER 2022)126
6.13CASE STUDY126
6.13.1CASE STUDY: POPULATION HEALTH MANAGEMENT MARKET126
6.13.2CASE STUDY ON US APPLICATION SOFTWARE & DIGITAL HEALTH: ADDRESSABLE MARKET ASSESSMENT127
6.13.3CASE STUDY: LABORATORY INFORMATION SYSTEMS MARKET128
6.13.4CASE STUDY: CLINICAL DECISION SUPPORT SYSTEMS MARKET128
6.14KEY STAKEHOLDERS AND BUYING CRITERIA129
6.14.1KEY STAKEHOLDERS IN BUYING PROCESS129
FIGURE 38INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS129
TABLE 16INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS (%)129
6.14.2BUYING CRITERIA130
FIGURE 39KEY BUYING CRITERIA FOR HCIT COMPONENTS130
TABLE 17KEY BUYING CRITERIA FOR HCIT COMPONENTS130
6.15KEY CONFERENCES AND EVENTS (2022–2023)131
6.16TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES131
FIGURE 40REVENUE SHIFT131
7HEALTHCARE IT MARKET, BY PRODUCT & SERVICE132
7.1INTRODUCTION133
TABLE 18HEALTHCARE IT MARKET, BY PRODUCT & SERVICE, 2020–2027 (USD MILLION)133
7.2HEALTHCARE PROVIDER SOLUTIONS133
TABLE 19HEALTHCARE PROVIDER SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)134
TABLE 20HEALTHCARE PROVIDER SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)134
7.2.1CLINICAL HCIT SOLUTIONS135
TABLE 21CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)135
TABLE 22CLINICAL HCIT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)136
7.2.1.1Telehealth solutions137
7.2.1.1.1Rising focus on remote monitoring and care to drive market for telehealth137
TABLE 23TELEHEALTH PLATFORMS OFFERED BY KEY MARKET PLAYERS137
TABLE 24TELEHEALTH SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)138
FIGURE 41TELEHEALTH SOLUTIONS: END-USER ASSESSMENT (2021)139
7.2.1.2mHealth apps139
7.2.1.2.1Growing preference for self-care management to propel penetration of mHealth apps139
TABLE 25MHEALTH APPS OFFERED BY KEY MARKET PLAYERS140
TABLE 26MHEALTH APPS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)140
7.2.1.3EHRs141
7.2.1.3.1Growing demand for EHRs to drive growth141
TABLE 27EHR/EMR SOLUTIONS OFFERED BY KEY MARKET PLAYERS141
TABLE 28EHR MARKET, BY COUNTRY, 2020–2027 (USD MILLION)142
FIGURE 42EHR/EMR MARKET SHARE ANALYSIS, BY KEY PLAYER, 2021143
7.2.1.4PHM solutions143
7.2.1.4.1Aggregation and collation advantages to boost adoption143
TABLE 29PHM SOLUTIONS OFFERED BY KEY MARKET PLAYERS144
TABLE 30PHM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)146
7.2.1.5Specialty information management systems146
7.2.1.5.1Increasing number of surgical procedures conducted globally to drive market growth146
TABLE 31SPECIALTY INFORMATION MANAGEMENT SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)147
7.2.1.6HCIT integration solutions147
7.2.1.6.1Integration engines help develop data interfaces quickly147
TABLE 32HCIT INTEGRATION SOLUTIONS OFFERED BY KEY MARKET PLAYERS148
TABLE 33HCIT INTEGRATION SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)148
7.2.1.7PACS & VNA149
7.2.1.7.1Growing volume of imaging procedures performed to drive the demand for these solutions149
TABLE 34PACS & VNA MARKET, BY COUNTRY, 2020–2027 (USD MILLION)150
FIGURE 43PACS AND VNA MARKET: END-USER ASSESSMENT (2021)150
7.2.1.8Medical image analysis systems151
7.2.1.8.1North America dominates the medical image analysis systems market151
TABLE 35MEDICAL IMAGE ANALYSIS SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)152
FIGURE 44MEDICAL IMAGE ANALYSIS SYSTEMS MARKET: END-USER ASSESSMENT (2020)152
7.2.1.9LIS153
7.2.1.9.1Need for accurate, efficient, and rapid transfer of lab results across networks to drive market growth153
TABLE 36LIS OFFERED BY KEY MARKET PLAYERS153
TABLE 37LIS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)154
7.2.1.10Practice management systems154
7.2.1.10.1Incentives for using practice management systems to support adoption154
TABLE 38PRACTICE MANAGEMENT SYSTEMS OFFERED BY KEY MARKET PLAYERS155
TABLE 39PRACTICE MANAGEMENT SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)155
7.2.1.11CDSS156
7.2.1.11.1Need to minimize errors and ensure regulatory compliance to boost adoption of CDSS156
TABLE 40CDSS OFFERED BY KEY MARKET PLAYERS156
TABLE 41CDSS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)157
FIGURE 45CDSS: END-USER ASSESSMENT (2021)157
7.2.1.12Patient registry software158
7.2.1.12.1Funding from public and private organizations to support market growth158
TABLE 42PATIENT REGISTRY SOFTWARE OFFERED BY KEY MARKET PLAYERS/ORGANIZATIONS158
TABLE 43PATIENT REGISTRY SOFTWARE MARKET, BY COUNTRY, 2020–2027 (USD MILLION)159
FIGURE 46PATIENT REGISTRY SOFTWARE MARKET: END-USER ASSESSMENT (2021)159
7.2.1.13ePrescribing solutions160
7.2.1.13.1Integrated ePrescribing solutions to offer significant benefits over standalone systems160
TABLE 44EPRESCRIBING SOLUTIONS OFFERED BY KEY MARKET PLAYERS160
TABLE 45EPRESCRIBING SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)161
7.2.1.14RIS162
7.2.1.14.1Integration of RIS with HIS and PACS to attract stakeholder attention and drive growth162
TABLE 46RIS OFFERED BY KEY MARKET PLAYERS162
TABLE 47RIS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)163
7.2.1.15CPOE solutions163
7.2.1.15.1Effectiveness in minimizing prescription errors to boost CPOE adoption163
TABLE 48CPOE SOLUTIONS OFFERED BY KEY MARKET PLAYERS164
TABLE 49CPOE SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)164
7.2.1.16CVIS165
7.2.1.16.1High prevalence of CVD to boost demand for CVIS165
TABLE 50CVIS OFFERED BY KEY MARKET PLAYERS165
TABLE 51CVIS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)166
7.2.1.17Infection surveillance solutions166
7.2.1.17.1Potential to minimize human and financial impact of infections to support adoption166
TABLE 52INFECTION SURVEILLANCE SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)167
FIGURE 47INFECTION SURVEILLANCE SOLUTIONS MARKET: END-USER ASSESSMENT (2021)168
7.2.1.18RDM solutions168
7.2.1.18.1Need to optimize radiation administration and management to boost growth168
TABLE 53RDM SOLUTIONS OFFERED BY KEY MARKET PLAYERS169
TABLE 54RDM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)170
7.2.2NON-CLINICAL HCIT SOLUTIONS170
TABLE 55NON-CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)171
TABLE 56NON-CLINICAL HCIT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)172
7.2.2.1RCM solutions172
TABLE 57RCM SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)173
TABLE 58RCM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)173
7.2.2.1.1Front-end RCM Solutions174
7.2.2.1.1.1Rising patient volume and subsequent growth in demand for health insurance to support growth174
TABLE 59FRONT-END RCM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)174
7.2.2.1.2Mid-RCM solutions175
7.2.2.1.2.1Need to improve accuracy, review bills, and prevent fraudulent claims to drive growth175
TABLE 60MID-RCM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)175
7.2.2.1.3Back-end RCM solutions176
7.2.2.1.3.1Focus on ensuring accurate payment and fraud prevention to ensure demand176
TABLE 61BACK-END RCM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)176
7.2.2.2Healthcare analytics solutions177
TABLE 62HEALTHCARE ANALYTICS SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)177
TABLE 63HEALTHCARE ANALYTICS SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)178
7.2.2.2.1Clinical analytics solutions178
7.2.2.2.1.1Support for fact-based diagnostics and therapeutic decision-making to ensure demand178
TABLE 64CLINICAL ANALYTICS SOLUTIONS OFFERED BY KEY MARKET PLAYERS179
TABLE 65CLINICAL ANALYTICS SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)179
7.2.2.2.2Financial analytics solutions179
7.2.2.2.2.1Need to analyze net collection rates and billing costs to drive growth179
TABLE 66FINANCIAL ANALYTICS SOLUTIONS OFFERED BY KEY MARKET PLAYERS180
TABLE 67FINANCIAL ANALYTICS SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)180
7.2.2.2.3Other healthcare analytics solutions181
TABLE 68OTHER HEALTHCARE ANALYTICS SOLUTIONS OFFERED BY KEY MARKET PLAYERS181
TABLE 69OTHER HEALTHCARE ANALYTICS SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)182
7.2.2.3Healthcare asset management solutions182
7.2.2.3.1Healthcare asset management solutions help in reducing costs and improving care182
TABLE 70HEALTHCARE ASSET MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)183
7.2.2.4CRM solutions184
7.2.2.4.1Need for better customer care services to boost use of CRM solutions184
TABLE 71CRM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)184
7.2.2.5Healthcare interoperability solutions185
7.2.2.5.1Potential to improve operational and clinical efficiencies to support adoption185
TABLE 72HEALTHCARE INTEROPERABILITY SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)185
7.2.2.6Pharmacy information systems186
7.2.2.6.1Demand for automatic refills and popularity of ePrescribing to drive use186
TABLE 73PHARMACY INFORMATION SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)187
7.2.2.7Healthcare quality management solutions187
7.2.2.7.1Data security concerns and high cost of quality reporting to restrain growth187
TABLE 74HEALTHCARE QUALITY MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)188
7.2.2.8SCM solutions188
TABLE 75SCM SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)189
TABLE 76SCM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)189
7.2.2.8.1Procurement management solutions190
7.2.2.8.1.1Potential to maximize profit and manage purchasing cycles to support adoption190
TABLE 77PROCUREMENT MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)191
7.2.2.8.2Inventory management solutions191
7.2.2.8.2.1Support for maintaining optimum inventory to boost use of inventory management191
TABLE 78INVENTORY MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)192
7.2.2.9Medication management systems193
TABLE 79MEDICATION MANAGEMENT SYSTEMS MARKET, BY TYPE, 2020–2027 (USD MILLION)193
TABLE 80MEDICATION MANAGEMENT SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)194
7.2.2.9.1Electronic medication administration systems194
7.2.2.9.1.1Improved patient safety and reduced incidence of adverse drug effects to drive system usage194
TABLE 81ELECTRONIC MEDICATION ADMINISTRATION SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)195
7.2.2.9.2Barcode medication administration systems195
7.2.2.9.2.1Barcode medication administration systems help in better inventory management195
TABLE 82BARCODE MEDICATION ADMINISTRATION SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)196
7.2.2.9.3Medication inventory management systems196
7.2.2.9.3.1Decision-making support and ease of use to boost demand196
TABLE 83MEDICATION INVENTORY MANAGEMENT SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)197
7.2.2.9.4Medication assurance systems197
7.2.2.9.4.1Medication assurance systems offer better disease management and improved transitional care197
TABLE 84MEDICATION ASSURANCE SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)198
7.2.2.10Workforce management solutions198
7.2.2.10.1Workforce management solutions help healthcare organizations to improve the accuracy of employee data198
TABLE 85WORKFORCE MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)199
7.2.2.11Financial management systems199
7.2.2.11.1Increased efficiency, improved accuracy, and reduced labor costs to drive growth199
TABLE 86FINANCIAL MANAGEMENT SYSTEMS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)200
7.2.2.12HIE solutions200
7.2.2.12.1Interoperability, accessibility, clinical workflow, data integrity, and security of health-related information to push demand for HIEs200
TABLE 87HIE SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)201
7.2.2.13Medical document management solutions201
7.2.2.13.1Rapid ROI, high security, and increased profitability to drive demand for document management201
TABLE 88MEDICAL DOCUMENT MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)202
7.3HEALTHCARE PAYER SOLUTIONS203
TABLE 89HEALTHCARE PAYER SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)203
TABLE 90HEALTHCARE PAYER SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)204
7.3.1CLAIMS MANAGEMENT SOLUTIONS204
7.3.1.1Efficient processing and ease of management to push demand for claims management solutions204
TABLE 91CLAIMS MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)205
7.3.2PHM SOLUTIONS205
7.3.2.1Potential for cost reduction to support adoption of PHM among payers205
TABLE 92KEY VENDORS OFFERING PHM SOLUTIONS206
TABLE 93PHM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)206
7.3.3PHARMACY AUDIT & ANALYSIS SOLUTIONS207
7.3.3.1Focus on decision-making support to drive adoption207
TABLE 94PHARMACY AUDIT & ANALYSIS SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)207
7.3.4CRM SOLUTIONS208
7.3.4.1Focus on better and more effective CRM to boost adoption208
TABLE 95CRM SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)208
7.3.5MEMBER ELIGIBILITY MANAGEMENT SOLUTIONS209
7.3.5.1Efficient management and utilization of member eligibility data to reduce administrative and medical costs209
TABLE 96MEMBER ELIGIBILITY MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)209
7.3.6FRAUD ANALYTICS SOLUTIONS210
7.3.6.1Support for improving claims processing, medical policies, provider contracts, network management, and compliance to drive growth210
TABLE 97FRAUD ANALYTICS SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)211
7.3.7PROVIDER NETWORK MANAGEMENT SOLUTIONS211
7.3.7.1Focus on improving communication and case resolution rate to drive adoption211
TABLE 98PROVIDER NETWORK MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)212
7.3.8PAYMENT MANAGEMENT SOLUTIONS212
7.3.8.1Payment management solutions connect payers, providers, members, and banks on a single, integrated network212
TABLE 99PAYMENT MANAGEMENT SOLUTIONS MARKET, BY COUNTRY, 2020–2027 (USD MILLION)213
7.4HCIT OUTSOURCING SERVICES213
TABLE 100HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)214
TABLE 101HCIT OUTSOURCING SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)215
7.4.1IT INFRASTRUCTURE MANAGEMENT SERVICES215
7.4.1.1High capital requirements to lead providers to outsource IT infrastructure management215
TABLE 102IT INFRASTRUCTURE MANAGEMENT SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)216
7.4.2PAYER HCIT OUTSOURCING SERVICES216
TABLE 103PAYER HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)217
TABLE 104PAYER HCIT OUTSOURCING SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)218
7.4.2.1Claims management services218
7.4.2.1.1Rapid turnaround time and decreased errors & costs to drive outsourcing of claims management218
TABLE 105CLAIMS MANAGEMENT SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)219
7.4.2.2Provider network management services219
7.4.2.2.1Need to focus on core functions to drive outsourcing219
TABLE 106PROVIDER NETWORK MANAGEMENT SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)221
7.4.2.3Billing & accounts management services221
7.4.2.3.1Increased cash flow, reduced burden, and low space requirements to drive adoption221
TABLE 107BILLING & ACCOUNTS MANAGEMENT SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)222
7.4.2.4Fraud analytics services222
7.4.2.4.1Need for better fraud management to ensure demand222
TABLE 108FRAUD ANALYTICS SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)223
7.4.2.5Other payer HCIT outsourcing services224
TABLE 109OTHER PAYER HCIT OUTSOURCING SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)224
7.4.3PROVIDER HCIT OUTSOURCING SERVICES224
TABLE 110PROVIDER HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)225
TABLE 111PROVIDER HCIT OUTSOURCING SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)225
7.4.3.1RCM services226
7.4.3.1.1High cost of setting up IT infrastructure for RCM to drive focus to outsourcing226
TABLE 112RCM SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)226
7.4.3.2EMR/Medical document management services227
7.4.3.2.1Benefits of outsourcing document management to push adoption among providers227
TABLE 113EMR/MEDICAL DOCUMENT MANAGEMENT SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)227
7.4.3.3Laboratory information management services228
7.4.3.3.1Benefits of effective laboratory information management to boost growth228
TABLE 114LABORATORY INFORMATION MANAGEMENT SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)228
7.4.3.4Other provider HCIT outsourcing services229
TABLE 115OTHER PROVIDER HCIT OUTSOURCING SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)229
7.4.4OPERATIONAL HCIT OUTSOURCING SERVICES229
TABLE 116OPERATIONAL HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)230
TABLE 117OPERATIONAL HCIT OUTSOURCING SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)230
7.4.4.1SCM services231
7.4.4.1.1Rising cost of supply procurement to support demand for services231
TABLE 118SCM SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)232
7.4.4.2BPM services232
7.4.4.2.1Need for automating operational processes to drive adoption232
TABLE 119BPM SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)233
7.4.4.3Other operational HCIT outsourcing services234
TABLE 120OTHER OPERATIONAL HCIT OUTSOURCING SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)234
8HEALTHCARE IT MARKET, BY COMPONENT235
8.1INTRODUCTION236
TABLE 121HEALTHCARE IT MARKET, BY COMPONENT, 2020–2027 (USD MILLION)236
8.2SERVICES236
8.2.1INTRODUCTION OF COMPLEX SOFTWARE TO DRIVE DEMAND FOR SERVICES236
TABLE 122SERVICES OFFERED BY KEY MARKET PLAYERS237
TABLE 123HEALTHCARE IT SERVICES MARKET, BY COUNTRY, 2020–2027 (USD MILLION)238
8.3SOFTWARE238
8.3.1SHIFT TO WEB/CLOUD-BASED MODELS TO SUPPORT GROWTH238
TABLE 124HEALTHCARE IT SOFTWARE OFFERED BY KEY MARKET PLAYERS239
TABLE 125HEALTHCARE IT SOFTWARE MARKET, BY COUNTRY, 2020–2027 (USD MILLION)241
8.4HARDWARE241
8.4.1NEED FOR FREQUENT HARDWARE UPGRADES TO DRIVE MARKET GROWTH241
TABLE 126HEALTHCARE IT HARDWARE MARKET, BY COUNTRY, 2020–2027 (USD MILLION)243
9HEALTHCARE IT MARKET, BY END USER244
9.1INTRODUCTION245
TABLE 127HEALTHCARE IT MARKET, BY END USER, 2020–2027 (USD MILLION)245
9.2HEALTHCARE PROVIDERS245
TABLE 128HEALTHCARE IT MARKET FOR HEALTHCARE PROVIDERS, BY TYPE, 2020–2027 (USD MILLION)246
TABLE 129HEALTHCARE IT MARKET FOR HEALTHCARE PROVIDERS, BY COUNTRY, 2020–2027 (USD MILLION)247
9.2.1HOSPITALS247
9.2.1.1Growing need to improve profitability of healthcare to drive use of HCIT in hospitals247
TABLE 130HEALTHCARE IT MARKET FOR HOSPITALS, BY COUNTRY, 2020–2027 (USD MILLION)249
9.2.2OUTPATIENT SETTINGS249
9.2.2.1Supportive government norms and incentives for HCIT solutions and services to drive market growth249
TABLE 131HEALTHCARE IT MARKET FOR OUTPATIENT SETTINGS, BY COUNTRY, 2020–2027 (USD MILLION)250
9.2.3HOME HEALTHCARE AGENCIES & ASSISTED LIVING FACILITIES251
9.2.3.1Growing need for long-term home care to drive market growth251
TABLE 132HEALTHCARE IT MARKET FOR HOME HEALTHCARE AGENCIES & ASSISTED LIVING FACILITIES, BY COUNTRY, 2020–2027 (USD MILLION)252
9.2.4DIAGNOSTIC & IMAGING CENTERS252
9.2.4.1Growing burden of various chronic diseases to propel market growth252
TABLE 133HEALTHCARE IT MARKET FOR DIAGNOSTIC & IMAGING CENTERS, BY COUNTRY, 2020–2027 (USD MILLION)253
9.2.5PHARMACIES253
9.2.5.1Advantages of workflow improvements and error reduction to drive HCIT solution adoption in pharmacies253
TABLE 134HEALTHCARE IT MARKET FOR PHARMACIES, BY COUNTRY, 2020–2027 (USD MILLION)254
9.3HEALTHCARE PAYERS255
TABLE 135HEALTHCARE IT MARKET FOR HEALTHCARE PAYERS, BY TYPE, 2020–2027 (USD MILLION)255
TABLE 136HEALTHCARE IT MARKET FOR HEALTHCARE PAYERS, BY COUNTRY, 2020–2027 (USD MILLION)256
9.3.1PRIVATE PAYERS256
9.3.1.1Possible increases in operational efficiency to boost demand for HCIT among private payers256
TABLE 137HEALTHCARE IT MARKET FOR PRIVATE PAYERS, BY COUNTRY, 2020–2027 (USD MILLION)257
9.3.2PUBLIC PAYERS257
9.3.2.1Focus on developing outcome-based payment models to drive demand for payer HCIT solutions257
TABLE 138HEALTHCARE IT MARKET FOR PUBLIC PAYERS, BY COUNTRY, 2020–2027 (USD MILLION)258
10HEALTHCARE IT MARKET, BY REGION259
10.1INTRODUCTION260
TABLE 139HEALTHCARE IT MARKET, BY REGION, 2020–2027 (USD MILLION)260
10.2NORTH AMERICA261
FIGURE 48NORTH AMERICA: HEALTHCARE IT MARKET SNAPSHOT261
TABLE 140NORTH AMERICA: HEALTHCARE IT MARKET, BY COUNTRY, 2020–2027 (USD MILLION)262
TABLE 141NORTH AMERICA: HEALTHCARE IT MARKET, BY PRODUCT & SERVICE, 2020–2027 (USD MILLION)262
TABLE 142NORTH AMERICA: HEALTHCARE PROVIDER SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)263
TABLE 143NORTH AMERICA: CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)263
TABLE 144NORTH AMERICA: NON-CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)264
TABLE 145NORTH AMERICA: RCM SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)265
TABLE 146NORTH AMERICA: MEDICATION MANAGEMENT SYSTEMS MARKET, BY TYPE, 2020–2027 (USD MILLION)265
TABLE 147NORTH AMERICA: SCM SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)266
TABLE 148NORTH AMERICA: HEALTHCARE ANALYTICS SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)266
TABLE 149NORTH AMERICA: HEALTHCARE PAYER SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)267
TABLE 150NORTH AMERICA: HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)267
TABLE 151NORTH AMERICA: PROVIDER HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)268
TABLE 152NORTH AMERICA: PAYER HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)268
TABLE 153NORTH AMERICA: OPERATIONAL HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)269
TABLE 154NORTH AMERICA: HEALTHCARE IT MARKET, BY COMPONENT, 2020–2027 (USD MILLION)269
TABLE 155NORTH AMERICA: HEALTHCARE IT MARKET, BY END USER, 2020–2027 (USD MILLION)269
TABLE 156NORTH AMERICA: HEALTHCARE IT MARKET FOR HEALTHCARE PROVIDERS, BY TYPE, 2020–2027 (USD MILLION)270
10.2.1US270
10.2.1.1US to dominate global healthcare IT market270
FIGURE 49US: OFFICE-BASED PHYSICIAN EHR ADOPTION (2004–2017)271
FIGURE 50US: HOSPITAL EHR ADOPTION (2007–2018)272
TABLE 157HOSPITAL PROGRESS TO MEANINGFUL USE BY SIZE, TYPE, AND URBAN/RURAL LOCATION IN THE US, 2016272
FIGURE 51ONLINE PATIENT ENGAGEMENT FUNCTIONALITY, 2012–2015273
FIGURE 52HOSPITAL ROUTINE ELECTRONIC NOTIFICATION273
TABLE 158US: HEALTHCARE IT MARKET, BY PRODUCT & SERVICE, 2020–2027 (USD MILLION)274
TABLE 159US: HEALTHCARE PROVIDER SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)274
TABLE 160US: CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)275
TABLE 161US: NON-CLINICAL HCIT SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)276
TABLE 162US: RCM SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)277
TABLE 163US: MEDICATION MANAGEMENT SYSTEMS MARKET, BY TYPE, 2020–2027 (USD MILLION)277
TABLE 164US: SCM SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)278
TABLE 165US: HEALTHCARE ANALYTICS MARKET, BY TYPE, 2020–2027 (USD MILLION)278
TABLE 166US: HEALTHCARE PAYER SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION)279
TABLE 167US: HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)279
TABLE 168US: PROVIDER HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)280
TABLE 169US: PAYER HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)280
TABLE 170US: OPERATIONAL HCIT OUTSOURCING SERVICES MARKET, BY TYPE, 2020–2027 (USD MILLION)281
TABLE 171US: HEALTHCARE IT MARKET, BY COMPONENT, 2020–2027 (USD MILLION)281
TABLE 172US: HEALTHCARE IT MARKET, BY END USER, 2020–2027 (USD MILLION)281
TABLE 173US: HEALTHCARE IT MARKET FOR HEALTHCARE PROVIDERS, BY TYPE, 2020–2027 (USD MILLION)282
10.2.2CANADA282
10.2.2.1Deployment of digital health initiatives to drive market growth282
TABLE 174FUNDING ACTIVITIES AND GRANTS IN CANADA283
FIGURE 53CANADA: EMR ADOPTION BY PRIMARY CARE PHYSICIANS, 2013–2018283
TABLE 175CANADA: HEALTHCARE IT MARKET, BY PRODUCT & SERVICE, 2020–2027 (USD MILLION)284
TABLE 176CANADA: HEALTHCARE PR