We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image

IT-ENABLED HEALTHCARE MARKET ANALYSIS

IT-enabled Healthcare Market, By Type (Software (Administrative Information Systems (AIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Assisted Diagnosis (CAD), Ancillary Information Systems), Services (Tele-Health, Healthcare Diagnostics, Remote Patient Monitoring, Healthcare Education, mHealth)), By End User (Public/Private healthcare institutions, Physicians, Healthcare workers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  • Published In : Jul 2020
  • Code : CMI3992
  • Pages :150
  • Formats :
      Excel and PDF
  • Industry : Healthcare IT

IT-enabled healthcare involves use of Clinical Information Systems (CIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Aided Diagnosis (CAD), and other such software and systems.

Statistics:

The global IT-enabled healthcare market is estimated to account for US$ 464.73 Bn in terms of value by the end of 2027.

Global IT-enabled Healthcare Market: Drivers

Increasing prevalence of chronic disorders is expected to propel growth of the global IT-enabled healthcare market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, launch of IoT connected device platforms is also expected to aid in growth of the market. For instance, in June 2020, MedShift, a medical technology company, launched the new version of IoT connected device platform, 3.0, which provides an end-to-end solution for device manufacturers, integrating their purpose-built credit card-sized computer boards, with encrypted private cellular SIM capabilities, into any medical device line up.  

Statistics:

North America held dominant position in the global IT-enabled healthcare market in 2019, accounting for 39.0% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global IT-enabled Healthcare Market Share (%) Value, By Region, 2019

IT-ENABLED HEALTHCARE MARKET

To learn more about this report, request sample copy

Global IT-enabled Healthcare Market: Restraints

Low adoption of internet in emerging economies is expected to hinder growth of the market. For instance, according to Pew Research Center (October 2019), Sub-Saharan Africa has a lower level of internet use than any other geographic region, ranging from a high of 59% in South Africa to a low of 25% in Tanzania.

Moreover, high cost of Picture Archiving and Communication System (PACS) and Radiology Information System (RIS) is also expected to limit growth of the market. For instance, conventional PACS systems can cost around US$ 5,000 to US$ 100,000.

IT-enabled Healthcare Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 187.7 Bn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 12.0% 2027 Value Projection: US$ 464.7 Bn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: North Africa, Central Africa, South Africa
Segments covered:
  • By Type:
    • Software: Administrative Information Systems (AIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Assisted Diagnosis (CAD), Ancillary Information Systems, Others.
    • Services: Tele-Health, Healthcare Diagnostics, Remote Patient Monitoring, Healthcare Education, mHealth.
  • By End User: Public/Private healthcare institutions, Physicians, Healthcare workers, Others.
Companies covered:

McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., Allscripts Healthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP.

Growth Drivers:
  • Increasing prevalence of chronic disorders
Restraints & Challenges:
  • High Cost associated with Picture Archiving and Communication System (PACS) and Radiology Information System (RIS)

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

Global IT-enabled Healthcare Market: Opportunities 

Increasing adoption of cloud-based PACS is expected to offer lucrative growth opportunities for players in the global IT-enabled healthcare market. Cloud-based PACS offers several benefits such as on-demand self-service, broad network access, resource pooling, rapid elasticity, and measured service.

Moreover, increasing penetration of internet is also expected to aid in growth of the market. For instance, according to China government-backed Market Intelligence & Consulting Institute and reported by China Internet Watch, internet penetration in China reached 61.2 percent in the first half of 2019, with 854 million internet users at the end of June 2019.   

Statistics:

The global it-enabled healthcare market was valued at US$ 187.7 Bn in 2019 and is forecast to reach a value of US$ 464.7 Bn by 2027 at a CAGR of 12.0% between 2020 and 2027.

Figure 2: Global IT-enabled Healthcare Market Value (US$ Bn), 2016 – 2027

IT-ENABLED HEALTHCARE MARKET

To learn more about this report, request sample copy

Market Trends/Key Takeaways

Emergence of novel coronavirus is boosting growth of the market. For instance, globally, as of 4:03pm CEST, 30 June 2020, there have been 10,185,374 confirmed cases of COVID-19, including 503,862 deaths, reported to World Health Organization.

Moreover, launch of pharmacy automation systems is also expected to aid in growth of the market. For instance, in February 2018, RxSafe, LLC launched RapidPakRx system, a new automated strip packaging system for retail and health system pharmacies that enables on-demand adherence packaging production

Global IT-enabled Healthcare Market: Competitive Landscape

Major players operating in the global IT-enabled healthcare market include, McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., Allscripts Healthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP.

Global IT-enabled Healthcare Market: Key Developments

Major players in the market are focused on adopting collaboration strategies to enhance their market share. For instance, in April 2020, Sectra, a medical imaging IT and cybersecurity company, collaborated with Hospital for Special Surgery, an academic medical center focused on musculoskeletal health, to integrate FDA approved digital pathology imaging solution with laboratory information system for integrated diagnostics capabilities between radiology and pathology.

Similarly, in April 2020, Wellbeing Software collaborated with Behold.ai, through which the Behold.ai’s artificial intelligence-based red dot algorithm will be used with Wellbeing Software’s Cris, a RIS, for fast-track diagnosis of COVID-19 in U.K.

Share

Missing comfort of reading report in your local language? Find your preferred language :

Frequently Asked Questions

The global IT-enabled Healthcare Market size was valued at USD 187.7 billion in 2020 and is expected to reach USD 464.7 billion in 2027.

The Global IT-enabled Healthcare market size was valued at US$ 187.7 billion in 2019 and is estimated to exhibit a CAGR of 12.0% between 2020 and 2027.

eHealth Software segment held the major market share in 2019 owing to an increasing prevalence of chronic disorders is expected to propel growth of the market.

Major factor driving the growth of Global IT-enabled Healthcare market during the forecast period increasing prevalence of chronic disorders, increasing research & development , and adoption of expansion strategies from major companies.

Major factors hampering the growth of the Global IT-enabled Healthcare market during the forecast period constitutes of high cost of Picture Archiving and Communication System (PACS) and Radiology Information System (RIS).

North America market is expected to generate the highest revenue during the forecast period.

Some of the key players operating in the market are McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., Allscripts Healthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP.
Logo

Credibility and Certifications

ESOMAR
DUNS Registered

860519526

Clutch
Credibility and Certification
Credibility and Certification

9001:2015

Credibility and Certification

27001:2022

Logo

Credibility and Certifications

ESOMAR
DUNS Registered

860519526

Clutch
Credibility and Certification
Credibility and Certification

9001:2015

Credibility and Certification

27001:2022

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Select a License Type





Logo

Credibility and Certifications

ESOMAR
DUNS Registered

860519526

Clutch
Credibility and Certification
Credibility and Certification

9001:2015

Credibility and Certification

27001:2022

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo
© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.