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A comprehensive overview of the Healthcare IT market is recently added by UnivDatos Market Insights to its humongous database. The Healthcare IT report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Healthcare IT market. The Healthcare IT report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Healthcare IT at the global and regional levels.
Market Overview
The market is primarily driven by shift from volume-based to value-based care, growing volume of patient data, technological advancements, government mandates and financial incentives for adoption of HCIT solutions, increasing awareness of the value of digital health, and high return on IT investment in the healthcare industry. In addition, increasing incidence & prevalence of chronic diseases associated with aging population, growing concern to curtail healthcare cost, and rising use of big data further supports the growth of this market. However, high installation and maintenance cost hinders the growth of the overall healthcare IT market to some extent. The global healthcare infrastructure has observed that, in order to develop and maintain sustainable healthcare setup, utilization of computational technologies such as artificial intelligence becomes crucial. Moreover, majority of the market players have focused on development of AI-powered models to fight against coronavirus pandemic. In addition, several number of research centers and governments have actively participated in the building of robust AI technologies which are assisting the healthcare professionals to work efficiently even under shortage of resources.
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The market for healthcare information technology is driven primarily by the rising incidence of COVID-19, government mandates, support and initiatives for HCIT solutions, the increasing use of big data in healthcare, high returns on investment for HCIT solutions, and the need to curtail escalating healthcare costs. The COVID-19 pandemic is providing immense opportunities for telehealth solutions, considering that social distancing is the only existing solution developed so far capable of minimizing exposure. In this regard, telemedicine represents an attractive, effective, and affordable option. Moreover, this technology is of critical importance in keeping healthcare providers safe. The artificial intelligence in healthcare market is expected to witness substantial growth post-pandemic.
COVID-19 Impact
The global healthcare infrastructure has observed that, in order to develop and maintain sustainable healthcare setup, utilization of computational technologies such as artificial intelligence becomes crucial. Moreover, majority of the market players have focused on development of AI-powered models to fight against coronavirus pandemic. In addition, several number of research centers and governments have actively participated in the building of robust AI technologies which are assisting the healthcare professionals to work efficiently even under shortage of resources. Because of the progress and improvement in internet sourced technology, increasing occurrences of chronic sicknesses, and rising acceptance as well as encouraging consumer actions regarding the latest technology in healthcare, the Covid-19 pandemic has globally increased the demand as well as acceptance of virtual otherwise online medical consultancy. The pandemic boosted the acceptance of virtual health. Such as, the proportion of the customers or respondents, making use of virtual visits, improved as of 15.0% in 2019 toward 19.0% in the early months of 2020. An unexpected spike of about 28.0% was observed in April 2020. As a result, such occasions are expected to maintain the expansion of the market, in the near future. For instance, In March 2020, Siemens Healthineers announced launch of teamplay digital health platform. The platform facilitates easy access to solutions for clinical and operational support. The platform comprises more than 5,000 institutes and 23,000 connected systems in over 60 countries. This helped the company to expand its business to untapped economies as well as customer base.
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Global Healthcare IT Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product Type, the market is primarily bifurcated into
The EHR segment dominated the type segment and gathered XX% of the Healthcare IT Market in 2020. Moreover, the market is expected to grow at XX% CAGR to reach US$ XX million by the year 2027.
By Delivery mode, the market is primarily segmented into
Based on the Delivery mode, the web accounted for the largest share and is expected to grow at XX% CAGR during the forecast period 2021-2027. In 2020, web segment generated a revenue of US$ XX million.
By End User, the market is primarily segmented into
Based on the End User, The Healthcare providers segment would display a significant growth rate during the forecast period with a CAGR of XX % owing to the increasing chronic disease and increasing healthcare infrastructure. Increasing demand for new technologies and substantial investment in digital health startups along with the growing awareness about the advantages associated with implementation of healthcare technology is increasing the demand of the healthcare information technology market. Healthcare providers is set to be the fastest growing segment and is poised to register a highest CAGR during the forecast period.
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Healthcare IT Geographical Segmentation Includes:
Based on the estimation, United States dominated the North America Healthcare IT market and is expected to grow at a CAGR of XX% during the forecast period to reach the market value of US$ XX Bn by 2027. The regional growth can be accredited to supportive demographic trends like the increasing geriatric population. A major segment of the geriatric population suffers from one or other types of chronic diseases that would act as a driver for the growth of the market. Moreover, the growth of the regional market would be propelled by favourable government regulations regarding Healthcare IT. The United States Healthcare IT Market is projected to grow with a significant CAGR in the forecast period.
The major players targeting the market includes
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Healthcare IT Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
Final Report will add the analysis of the impact of COVID-19 on this industry.”
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