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

Market Challenges And Opportunities

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.

Restraints & Challenges:

High Cost associated with Picture Archiving and Communication System (PACS) and Radiology Information System (RIS)

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.

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.