The global Healthcare IT Integration market gathered revenue around USD 4.0 Billion in 2020 and market is set to grow USD 9.2 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 13.2% during the prediction period 2021 to 2027.
Growth Factors:
The Market Healthcare IT integration can be defined as a type of medical devices category through which the physicians and doctors can continuously monitor and care for the infant children. Healthcare IT integration is a consortium of IT and healthcare sector and involves the application of latest IT solutions to monitor people's health, perform secured exchange of their electronic data and provide economical healthcare solutions.
The application of IT in other domains has presented positive outcomes and the same is expected in terms of healthcare. These devices are even used to feed the babies medicine, fluids or even draw blood, check the blood pressure, treat a number of diseases and continuously monitor the status and health of the baby.
Factors such as cost-benefits of HCIT integration vis-a-vis rising healthcare expenditure, growing adoption of EHRs and other HCIT solutions, favorable government support and initiatives, growing need to integrate healthcare systems, and potential for reductions in medical error rate and improvements in care quality are driving the growth of the Healthcare IT Integration market. However, High cost of HCIT integration is restricting the market.
Amongst product, the medical device integration software segment is expected to grow at the highest rate during the forecast period. Factors such as increased adoption of EHRs and other interoperability solutions in healthcare organizations, growing regulatory requirements & healthcare reforms, the shift of point-of-care diagnostics from hospitals to home care settings, and the need for integrated healthcare systems to improve healthcare quality and outcomes are propelling the growth of the medical device integration software market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Healthcare IT Integration market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Healthcare IT Integration market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Healthcare IT Integration market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Global Healthcare IT Integration Market: Regional Analysis
From a geographical perspective, the report segments the global healthcare IT integration market into North America, Europe, Asia Pacific, and Europe. Of these, the market in North America is presently the leading contributor to the overall market chiefly owing to the technologically advanced healthcare infrastructure. The vast usage of personal computing devices by the general population in countries such as the U.S. and Canada and the rising awareness regarding the vast benefits of IT intervention in the healthcare industry are also leading to the increased demand for healthcare IT integration services and solutions in North America. The market in Europe also holds a prominent position in the global market, mostly owing to aforementioned factors.
The market in Asia Pacific is considered one with vast untapped growth opportunities. The rising penetration of technological advancements in the healthcare industry in the region and improving healthcare infrastructure are driving the market for healthcare IT integration in the region. Moreover, government interventions through encouraging regulations aimed at boosting the adoption of IT-enabled advanced medical equipment and devices are also driving the market. The rising disposable incomes, increased awareness regarding technologically advanced treatment methodologies, and increased usage of mobile computing devices could help the Asia Pacific healthcare IT integration market gain further traction in the next few years.
Some of the leading players operating in the global healthcare IT integration market are Oracle Corporation, Interfaceware, Avi-Spl Inc., Ibm Corp., Intersystems, Orchestrate Healthcare, AGL Hospital Consulting, Siemens Healthcare, Cerner Corporation, Burwood Group, Boston Software Systems, Inc., The Sandino Group, LLC, and Liaison Technologies.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Healthcare IT Integration Market include: Infor , InterSystems Corporation, Cerner Corporation , Orion Health , NextGen Healthcare Inc., GE Healthcare , Capsule Technologies Inc., iNTERFACEWARE, Inc. , Allscripts Healthcare Solutions, Inc., Epic Systems Corporation , Koninklijke Philips , Oracle Corporation , AVI-SPL, Inc. , Corepoint Health , and MEDITECH .
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Product & Service
- Products
- Interface/Integration Engines
- Medical Device Integration Software
- Media Integration Solutions
- Other Integration Tools
- Services
- Implementation & Integration
- Support & Maintenance
- Training & Education
- Consulting
By End-User
- Hospitals
- Laboratories
- Clinics
- Diagnostic Imaging Centers
- Other End Users
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Healthcare IT Integration market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Healthcare IT Integration market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Healthcare IT Integration markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Healthcare IT Integration market Study:
- Growth of Healthcare IT Integration in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Healthcare IT Integration and How to Navigate
- Key Product Innovations and Regulatory Climate
- Healthcare IT Integration Consumption Analysis
- Healthcare IT Integration Production Analysis
- Healthcare IT Integration and Management
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