Healthcare Information Technology (HIT) Market is expected to offer significant growth at a CAGR of 13.1% during the forecast period 2023-2030 | Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare (Netherlands)

The global Healthcare Information Technology (HIT) market size was valued at USD 250.57 billion in 2022, and is growing with a CAGR of 13.1% during the forecast period 2022 to 2030.

Market Overview

The healthcare information technology market is growing because there is a growing trend toward digitization in the healthcare sector, more people want options for preventive care, more people are starting their own businesses, and partnerships and funding are growing. The market is also growing because of changes and improvements in network connectivity and network infrastructure, as well as because hospital IT spending is going up. Key players are focused on coming up with new ways to make products and are constantly making technological gains that are backed up by better IT infrastructure. Market players are putting algorithms for big data, the internet of things (IoT), artificial intelligence (AI), and machine learning (ML) into their current solutions to improve health and medical processes, which is driving market growth.

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Segment Analysis

The global healthcare IT market is divided into healthcare provider solutions, healthcare customer solutions, and HCIT outsourcing services based on the type of product sold. There are clinical and non-clinical solutions in the healthcare provider solutions market. healthcare payer solutions segment is categorized into pharmacy analysis and audit solution, claims management solution, fraud management solution, computer-assisted coding systems, payment management, provider network management solution, member eligibility management solution, customer relationship management solution, medical document management solution and others and The HCIT outsourcing services segment is divided into the source HCIT outsourcing services market, payer HCIT outsourcing services, operational HCIT outsourcing services, and IT infrastructure management services.The healthcare suppliers and healthcare payers are the two types of end users in the global healthcare IT market. The healthcare providers section is further divided into hospitals, ambulatory care centers, diagnostic and imaging centers, pharmacies, and other places.

Based on types, the Healthcare Information Technology (HIT) Market is segmented into:

By Products

  • Healthcare Provider Solutions
    • EHR
    • Population Health Management Services
    • Specialty Information Management Systems
    • PACS & VNA
    • Mobile Health Applications
    • HCIT Integration Systems
    • Telehealth Solutions
    • Medical Image Analysis Systems
    • Laboratory Information Systems
    • Practice Management Systems
    • Clinical Decision Support Systems
    • Computerized Physician Order Entry Systems
    • Cardiovascular Information Systems
    • Patient Registry Software
    • Infection Surveillance Solutions
    • Radiation Dose Management Solutions
    • Healthcare Asset Management Solutions
    • Revenue Cycle Management Solutions
      • Front-End RCM Solutions
      • Mid-RCM Solutions
      • Back-End RCM Solutions
    • Healthcare Analytics
      • Clinical Analytics
      • Financial Analytics
      • Operation and Administrative Analytics
    • Customer Relationship Management Solutions
    • Pharmacy Information Systems
    • Healthcare Interoperability Solutions
    • Healthcare Quality Management Solutions
    • Supply Chain Management Solutions
      • Procurement Management Solutions
      • Inventory Management Solutions
    • Electronic Medication Administration Systems
    • Barcode Medication Management Systems
    • Medication Inventory Management Systems
    • Medication Assurance Systems
    • Clinical Solutions
    • Non-Clinical Solutions
    • Medication Management Systems
    • Workforce Management Solutions
    • Financial Management Systems (Billings & Accounting)
    • Healthcare Information Exchanges
    • Medical Document Management Solutions
  • Healthcare Payer Solutions
    • Claims Management Solutions
    • Population Health Management Solutions
    • Pharmacy Audit and Analysis Solutions
    • Payment Management Solutions
    • Customer Relationship Management Solutions
    • Member Eligibility Management Solutions
    • Fraud Analytics Solutions
    • Provider Network Management Solutions
  • HCIT Outsourcing Services
    • Claims Management Services
    • Provider Network Management Services
    • Billing and Accounts Management Services
    • Fraud Analytics Services
    • Other Payer HCIT Outsourcing Services
    • Revenue Cycle Management Services
    • Medical Document Management Services
    • Laboratory Information Management Services
    • Other Provider HCIT Outsourcing Services
    • Supply Chain Management Services
    • Business Process Management Services
    • Other Operational IT Outsourcing Services
    • IT Infrastructure Management Services
    • Payer HCIT Outsourcing Services
    • Provider HCIT Outsourcing Services
    • Operational HCIT Outsourcing Services

By Component

  • Services
  • Software
  • Hardware

By End User

  • Healthcare Providers
    • Hospitals
    • Ambulatory Care Centers
    • Home Healthcare Agencies & Assisted Living Facilities
    • Diagnostic & Imaging Centers
    • Pharmacies
  • Healthcare Payers
    • Private Payers
    • Public Payers

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Recent Development

Optum and Bassett Healthcare Network worked together in May 2021 to improve Bassett’s clinical and operational performance and make it easier for people in Central New York to get high-quality, convenient, and affordable health care.
Cognizant and Aker Solutions joined forces in June 2021 to modernize and simplify its entire IT infrastructure. This included its business technology network and the maintenance and creation of its applications.
Change Healthcare and Amazon Web Services announced the launch of a new Data Science as a Service (DSaaS) platform in March 2021. This platform is meant to improve healthcare outcomes and costs for vulnerable health groups.

Regional Analysis

Asia-Pacific is likely to keep its lead during the period of the forecast. In the study, India, Japan, China, and the rest of Asia-Pacific are looked at as the three most important countries in the region.North America, on the other hand, is expected to grow the most from 2020 to 2030. Asia-Pacific is the leader in the global market for healthcare IT, and this is likely to continue for the next few years. This is because of growing economies and government efforts to digitize and automate the work of hospitals, pharmacies, nursing homes, and other healthcare groups.

Regional Healthcare Information Technology (HIT) Market coverage (Regional Status, Demand Forecast, Country Trends, etc.):

    • North America, Europe, China, Japan, Southeast Asia, India.
    • North America (USA, Canada, and Mexico).
    • Europe (Germany, France, UK, Russia and, Italy).
    • Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).

Key segments covered in Healthcare Information Technology (HIT) Market include:

    • Healthcare Information Technology (HIT) Market Growth Drivers and Barriers.
    • Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
    • Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
    • Regional and Country Level Analysis.
    • Trends and Forecasts for Market Segments.
    • Market Analysis and Various Recommendations.
    • Key market forces.

Report Customization: This report will be customized to your needs for additional data up to 5 companies or 5 countries or nearly 40 analyst hours.

Key Market Participants in the Healthcare Information Technology (HIT) Market:

Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare (Netherlands), Epic Systems (US), Dell Technologies (US)


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