Healthcare It Market 2015- Demand, Growth, Opportunities and Analysis of Top Key
Posted by Shashii Pawar on February 25th, 2020
Importance of IT in healthcare has increased significantly, as it helps in managing healthcare data and boosts the growth of advanced healthcare activities. Moreover, increasing use of cloud-based services has also boosted demand in the global healthcare IT market. In this market, big data helps in effectively managing population health management programs through data analytics, and also reduces expenses on chronic health conditions. Sharing health data with academic researchers has increased with healthcare IT, as it helps in developing new medical therapies and drugs. Moreover, providing precision medicine (PM) can be easily on individual patients thorough cognitive computing. Integration of IT software solutions increases reporting, evaluation, and monitoring in the healthcare industry have grown substantially, thus making appropriate use of data as one of the healthcare technology trends. Additionally, healthcare IT is also estimated benefit from blockchain to get medical records through a streamlined and secure process.
Attributing to these factors various players offering healthcare IT services are coming up with new more advanced solutions. One of the leading players in the global healthcare IT market is CERNER CORPORATION. This company provides robust HCIT product portfolio designed for medium-sized and large-sized organizations. This is expected to help them with advanced software services and products designed for specific needs. As the company focuses on expanding its geographical presence, the company is growing its network in different regions by collaborating with other companies. CERNER has recently partnered with NeuroLogix Technologies (US) with an objective to integrate the Cerner’s HealtheAthlete health management system with C3Logix concussion management system. This step will help the company to enhance the quality of care given to athletes. Moreover, the company will gain a competitive edge, as they will be providing high-value services at a reduced cost to smaller hospitals, physician practices, and critical access hospitals.
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Healthcare information technology (IT) is a vast field that involves the use of information technology for designing, creating, developing, using and maintaining information systems in the field of healthcare. Healthcare IT market is growing at a fast rate due to technological advancement in the field and increasing demand for improved healthcare facilities worldwide. Healthcare IT allows exchange of health-related information among organizations electronically. On the basis of applications, healthcare IT market can be segmented into clinical technology, non-clinical technology and payer technology. Various wireless technologies are available in the market such as radio frequency identification (RFID), bluetooth, WLAN, WWAN, WMAN, zigbee technology and others. Use of healthcare IT lowers the cost of treatment and reduces errors associated with healthcare facilities; thus improves the efficiency of the healthcare system.
On the basis of delivery mode, web-based technology has the largest market. However, cloud technology is growing at the fastest rate. This is due to various successful technologies being used in cloud technology, such as Saas, Paas, Iaas and others. North America, followed by Europe, has the largest market for healthcare IT due to rise in incidence of various diseases, increasing adoption of electronic health records and technological advancement in the region. Asia is expected to show high growth rate in healthcare IT market in next few years due to rise in ageing population, increasing patient pool in the region and government initiatives sin the region.
Technological advancement, government initiatives, rise in investments from healthcare IT players, increasing number of patients are some of the key factors driving the growth for global healthcare IT market. In addition, increasing demand for better healthcare facilities and rising need for integrated healthcare systems are expected to drive the market for healthcare IT. However, high maintenance and service expenses, lack of experienced professionals and interoperability issues are some of the major factors restraining the growth for global healthcare IT market.
IT-enabled healthcare solutions for physicians, emerging markets such as China and India and innovation of some new information technology in healthcare are expected to offer good opportunities for growth of global healthcare IT market. In addition, shifting focus towards patient-centric healthcare facilities is anticipated to develop good opportunity for global healthcare IT market. Some of the trends that have been observed in healthcare IT market are increase in the use of mobile devices, rising adoption of electronic health records and wireless and cloud technology in healthcare. Some of the major companies operating in the global healthcare IT market are CERNER CORPORATION, Dell, McKesson Corporation, GE Healthcare, Agfa Gevaert NV, Siemens Healthcare, NextGen Healthcare Information Systems Inc., Epic Systems Corporation, Allscripts and CareFusion Corporation.
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About the AuthorShashii Pawar
Joined: December 22nd, 2016
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