Rapid technological transformation is taking place in the healthcare sector. Healthcare IT is anticipated to expand rapidly over the course of the projection period, offering significant opportunity to companies throughout the globe. The advent of a large number of apps centered on lifestyle and therapeutic applications has also helped the industry. The global market for healthcare IT services will be further boosted by an increase in the number of surgical procedures, an increase in the need for better healthcare services, an increase in the demand for high-tech hospitals and clinics, and an increase in patient volume. The demand for better healthcare services is growing as chronic health problems like hypercholesterolemia, diabetes, infectious diseases, and the global elderly population are becoming more prevalent. A growing trend in the world is healthcare information technology, which has additional benefits such easier access to patient data. Between payers and providers, there is now a greater understanding thanks to the development of social media platforms and practical mobile devices. Chain hospitals can now understand patients more logically thanks to the big data concept, which has also improved the market's potential.
According to Coherent Market Insights, The market for Healthcare Information Technology Services, which was valued at USD 380.8 billion in 2022, is projected to grow to USD 1319.28 billion by 2030, with a CAGR of 16.8% from 2023 to 2030.
Leading Companies in the Healthcare Information Technology Services Industry
1. GE Healthcare
The firm was founded in 1892 and is based in Boston, Massachusetts, United States. A global leader in financial services and technology, General Electric Company. The company offers a range of goods and services, from industrial goods to medical imaging, corporate and consumer financing, water treatment, and home appliances. To increase the global availability of HA gas turbine services, GE will expand the scope of its Singapore repair centre in June 2023.
2. Carestream Health, Inc
The company was started in 2007 and is based in Rochester, New York, United States. The company produces veterinary supplies, dental film, on-site 3D extremities systems, managed print solutions, radiography, non-destructive testing units, and other related accessories. In May 2023, Carestream Unveils the DRX-Rise Mobile X-Ray System, a Cost-Effective, Agile, Productivity-Boosting System.
3. Epic Systems Corporation
The company was started in 1979 and is based in Verona, Wisconsin, United States. The company Epic Systems Corporation creates, designs, and develops software. The company provides a range of management tools to multi-hospital systems, safety net providers, children's groups, academic institutions, and community hospitals. Baptist Health, Memorial Hermann Health System, and Emory Healthcare all made the migration from Cerner to Epic in 2022.
4. Cerner Corporation
The business was founded in 1979 and is located in North Kansas City, Missouri, United States. An American provider of hardware, software, and health information technology (HIT) services is Cerner Corporation. The purchase of Cerner by Oracle Corporation for about $28.3 billion was announced on December 20, 2021.In June 2022, the deal was completed.
5. McKesson Corporation
The company was started in 1833 and is based in Irving, Texas, United States. In addition to providing instruments for care management, healthcare equipment, and health information technology, The McKesson Corporation is an American company that distributes prescription medications. The private equity firm Aurelius Group paid £477 million to acquire McKesson UK in April 2022.
6. NextGen Healthcare Information Systems, LLC
The company was started in 1994 and is based in Atlanta, Georgia, United States. The company NextGen Healthcare, Inc. creates and sells medical information systems. The company's systems automate dental schools, community health centers, management service companies, and physical hospitals.
7. Siemens Healthcare
The company was started in 1847 and is based in Erlangen, Germany. The business acts as a manufacturer of precision and electronic medical equipment and offers maintenance, repair, and production services. The company declared in August 2020 that it would buy Varian Medical Systems for $16.4 billion.
*Definition: Information technology, namely in the form of health technology, is used in the fields of health and medical care. It supports the administration of health information across computerized systems and the safe interchange of health data between patients, healthcare professionals, payers, and quality monitors.
