Global Healthcare IT Market- Industry
Trends & Forecast Report 2026
healthcare IT market was at USD 66.23 Billion in 2019 and is projected to reach
USD 125.23 with a CAGR of 10.7 % by 2026. The growth of the market is heavily
credited to the increasing concern of several nations in respect of public
healthcare, record-keeping, data maintenance, and storage of patient data. The rising
demand for tech-enabled healthcare solutions and communication devices among healthcare
providers, patients, and their attendants are going to be a significant growth
factor for the relevant market in the forecast period.
Global Healthcare IT Market Overview
information technology (HIT) refers to the area of healthcare that deals with
the IT systems that healthcare professionals utilize for handling patient data.
In simple words, it refers to the computerized systems used by healthcare
providers, patients, or their attendants for storing, sharing, and interpreting
health information. Information technologies play a crucial role in
communications. Healthcare Information Technology standards, patient privacy
rights, and well-being call for a reliable, stable, and secure network that is simple
to use. At the same time, it should be but opaque enough and well-protected from
unauthorized users, hackers, and the like.
Healthcare IT Market Forecast and Trends
Increasing prevalence of chronic diseases
Chronic diseases such as heart ailments, cancer, and diabetes are rising worldwide
owing to an increase in the elderly population, changes in lifestyle, deteriorating
environmental factors, and pollution. Such chronic conditions call for long-term
medical attention. Moreover, a majority of chronic diseases are also potentially
debilitating. In response to these growing concerns, some health care
organizations are instituting chronic disease management (CDM) with the help of
healthcare IT. These programs will help reduce the incidences of preventable
hospitalizations and also prevent adverse events by managing the health of
patients with chronic conditions more effectively and comprehensively. Many
organizations are implementing health information technology (health IT) to
facilitate their chronic disease management programs. This would drive the
market growth in the forecast timeframe.
intelligence to integrate with Healthcare
With time, the demand for
performing tasks promptly and effectively, while providing valuable insights, is
growing by leaps and bounds in the healthcare industry. The companies are
looking to integrate Artificial Intelligence (AI) with the latest technology to
analyze big data sets with predictive analysis. 30% of the healthcare cost is
associated with administrative tasks. With AI, some of these tasks can be
automated to reduce labor costs and save money. Fitness products such as FitBits
and Smart Watches use AI technology to analyze data and alert users and their physicians
about potential health issues and risks. Moreover, by integrating AI in
healthcare research studies, researchers are trying to analyze the neurological
codes. For example, by using Brain-computer interfaces (BCIs) backed by AI, researchers
are trying to decode the neural activities associated with the intended
movement of a particular body part so as to control the movement of that
particular body part manually. This shows how much AI can contribute to the
healthcare IT market in the upcoming years. IT giants like IBM and Google are
already using AI for the healthcare industry. For example, IBM’s Watson is used
for determining the treatment location for cancer patients, while Google Cloud’s
Healthcare API makes it easier for HealthCare apps to collect, store and access
the health data of the customers.
Cyber-attacks in the healthcare sector
The healthcare industry faces major threats like
cybersecurity-related issues which may act as the major restraining factor for
the market. These issues crop up from various malware that compromises the
integrity of systems as well as privacy issues of patients, and distributed
denial of service (DDoS) attacks that make it impossible for healthcare
facilities to provide patient care. Furthermore, health data is considered sensitive
personal data and is subject to stringent rules. However, since the chances of
cyberattacks in the healthcare sector are getting more frequent, such attacks
can have ramifications beyond financial loss and breach of privacy. Hence, this
factor may hamper the growth of the global healthcare IT market.
of COVID 19 on Global Healthcare IT Market
COVID-19 has had a positive impact on the Global
Healthcare IT market due to the rising awareness and deployment of digital tools
and technology in Hospitals & Clinics. Under the pressure of the pandemic,
healthcare providers across the globe started embracing AI-powered digital
healthcare tools on a large scale for preventing new transmission of
coronavirus. For example, UC San Diego Health developed an AI-based algorithm
for more than 2,000 lung X-ray images for assisting radiologists to detect
early signs of pneumonia in COVID-19 patients. Additionally, with the help of CT
imaging interpretation tools powered by Artificial Intelligence (AI)
radiologists were able to minimize CT-scan reading time from hours to seconds.
Similar tools also allowed community clinic patients to get their CT scan read
by healthcare specialists thousands of miles away. What’s more, COVID-19 also
affected drug trials all around the world. The tests were conducted using
Healthcare AI software that helped in drug betterment without the need for clinical
Healthcare IT Market Segmentation: By Application Type
Based on Application, the global healthcare IT market is
segmented into- electronic health records, computerized provider order entry
systems, electronic prescribing systems, PACS, laboratory information systems,
clinical information systems, tele healthcare, and others. In 2019, the EHR
segment led the market with a share of USD 19,400.16 million, largely due to
the increase in demand for EHR-integrated tools, EHR streamlining, and
information technology developments. The Growing acceptance of healthcare IT in
healthcare centers and an increasing number of programs promoting the
introduction of EHR are driving the EHR sector. During the forecast period,
e-prescription systems are anticipated to be the fastest-growing segment. One
of the major factors driving demand for e-prescription services on the market
is the rising demand for better patient care and decreasing medical errors.
Healthcare IT Market Segmentation: Regional Analysis
North America is likely to gain substantial growth in electronic
health records and e-prescription segments. North America’s dominance in these
segments is driven by the growing acceptance of healthcare centers with an
increase in the number of programs promoting the introduction of EHR. High EHR
adoption, combined government measures (such as Medicare and Medicaid EHR
Incentive Programs) are also driving the market growth. Apart from North America, the Healthcare
IT market in the Asia-Pacific is the fastest-growing region among others due to
the region's rapidly rising demand for healthcare. The elderly population in
Asia-Pacific is growing at an unprecedented rate. Additionally, ambitious
healthcare schemes introduced by the governments have been immensely successful
in APAC countries such as India, the Philippines, Thailand, and Singapore. At the same time, Germany and Italy are likely to hold the highest of
market shares in Europe due to the presence of well-established healthcare
infrastructure, along with the growing number of private medical service
providers such as Sana & Helios, are growth-imparting drivers for this
Key significant players for the global healthcare IT
market are Allscripts Healthcare Solutions, Inc., Athenahealth, Inc.,
Carestream Health, Inc, Cerner Corporation, eClinicalWorks, LLC, Epic Systems
Corporation, GE Healthcare Limited, McKesson Health Solutions LLC, Philips
Healthcare Informatics, Inc., amongst several others.
In January 2021,
athenahealth and Humana announced their multi-year collaboration deal. The
collaboration is to deliver value-added member insights through athenahealth’s
electronic health record (EHR) software, AthenaClinicals.
In December 2020,
DRX-Compass X-ray system, developed by Carestream, was installed at
Edward-Elmhurst Health Hospital in Naperville. The system supports mid-tier
hospitals and medical imaging centers worldwide. The system also offers a
flexible and scalable approach to digital imaging, increases workflow
efficiency and reduces cost.
In November 2020,
eMDs and Homecare Homebase (HCHB) announced their partnership. As part of the
partnership HCHB will offer integrated EHR solutions for home care/hospice
facilities and care providers.
In January 2020, Agfa-Gevaert Group and Dedalus Holding
S.p.A announced that they have signed the share purchase agreement. As part of
the agreement, Dedalus Holdings would acquire 100% of the Business at an
enterprise value of 975 million euros in the DACH region (Austria, Germany, and
Switzerland), France, and Brazil.
of the Report
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India,
Argentina, UAE, South Africa, Saudi Arabia.
By Application, By Region
Allscripts Healthcare Solutions, Inc., Athenahealth,
Inc., Carestream Health, Inc, Cerner Corporation, eClinicalWorks, LLC, Epic
Systems Corporation, GE Healthcare Limited, McKesson Health Solutions LLC,
Philips Healthcare Informatics, Inc.
of the Report
● Electronic Health Record
● Computerized Provider Order Entry Systems
● Electronic Prescribing Systems
● PACS, Laboratory Information Systems
● Clinical Information Systems
● Tele-Healthcare, Others
The Middle-East & Africa
1: What is the current size of the global
healthcare IT market?
Answer: The global healthcare
IT market has reached USD 66.23 Billion in 2019 and is projected to reach USD 125.23 with a CAGR of 10.7% by 2026.
2: What are the major
factors driving the growth of global healthcare IT market?
Answer: The major factors
driving the growth of global healthcare IT market are
● The integration of AI
● Increase in the number
of chronically ill patients globally
3: Who are the key
players in the global healthcare IT market?
Healthcare Solutions, Inc., Athenahealth, Inc., Carestream Health, Inc, Cerner
Corporation, eClinicalWorks, LLC, Epic Systems Corporation, GE Healthcare
Limited, McKesson Health Solutions LLC, Philips Healthcare Informatics, Inc.
4: Which segment
accounted for the largest global healthcare IT market share under application
Answer: The segment that
accounted for the largest global healthcare IT market share under application
segmentation is the Electronic Health Records segment.
5: Which segment(s) is
expected to witness most of the technological advancements for the projected
timeframe for the global healthcare IT market?
Answer: The segment(s) which
is expected to witness most of the technological advancements for the projected
timeframe for the global healthcare IT market are TeleHealthcare and EHR-
Electronic Health Records segment.