The IT-enabled healthcare market was valued at USD 190.50 billion in 2021 and is expected to reach USD 366.05 billion by 2028, expanding at a CAGR of almost 11.50% during the forecast period.
The investigation investigates the drivers driving demand in the IT-enabled healthcare industry, as well as any potential barriers or challenges that may emerge throughout the forecast period. Additionally, the research looks into potential opportunities in the IT-enabled healthcare market.
Overview of the IT-enabled Healthcare Market
Medical information technology information technology’s purpose is to develop, build, implement, and maintain information systems in hospitals, clinics, and other healthcare facilities. Healthcare IT has various benefits and potential for enhancing and transforming healthcare, including improved clinical results, reduced human error, higher clinical efficiency, better care coordination, and long-term data monitoring. The expanding number of smartphone users, combined with the rapid adoption of technology, is increasing the demand for telemedicine and mHealth solutions. Government initiatives to promote the use of medical technology are propelling the industry ahead. The growing demand to reduce rising medical expenditures, as well as the increasing use of big data, are driving the growth of big data utilization.
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IT-Enabled Healthcare Market: Growth Drivers
Consumer demand for high-quality healthcare services and products will drive market growth.
Demand for improved patient care and safety, as well as greater government initiatives to encourage HCIT, are all contributing to the worldwide IT-enabled healthcare industry’s growth. As a result of the increase in cyberattacks, which have become the most significant barrier to the global market, healthcare institutions are now experiencing significant difficulty protecting patient data. Increasing investment unlocks considerable market potential and broadens market growth opportunities in Asia Pacific.
IT-Enabled Healthcare Market: Segmentation
The global IT-enabled healthcare market is divided into three segments: type, end-user, and region.
There are two market segments: software and services. Among these, the software will continue to dominate market growth in the next years. This is due primarily to the increased industrial demand for cloud-based applications.
Depending on the end user, the market is split into public/private healthcare facilities, doctors, healthcare workers, and others. Due to the increased requirement for a variety of HCIT solutions to handle the rising load of processing patient information in hospitals, the digital remittance market for public/private healthcare institutions is predicted to develop the quickest over the forecast period. Also, the increased prevalence of chronic diseases has allowed for additional expansion.
IT-Enabled Healthcare Market: Regional Landscape
The presence of modern infrastructure and the early acceptance of important technological developments will boost North America’s expansion.
North America has emerged as a prominent region in the global IT-enabled healthcare market due to its modern infrastructure, knowledgeable workforce, and early adoption of various technological breakthroughs. Market growth in the region is also predicted to benefit from the region’s aging population. The European market has matured as a result of the early embrace and delivery of IT-assisted healthcare services to improve services and processes.
IT-Enabled Healthcare Market: Competitive Landscape
Some of the main competitors dominating 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.
The Global IT-enabled healthcare market is segmented as follows:
By Type:
Software
Services
By End User:
Public/Private healthcare institutions
Physicians
Healthcare workers
Others
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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