The global healthcare IT market is estimated to reach USD 280.25 Billion by 2021 at a CAGR of 15.9% during the forecast period of 2016 to 2021. Majority of the demand for healthcare IT solutions is driven by the growing need to reduce healthcare costs while adhering to the regulatory requirements set by government organizations for ensuring safety, security, and confidentiality of patient information.

The growing adoption of health information exchanges (HIEs) and EHR systems and improved quality of care and clinical outcomes are some of the other factors driving market growth. In addition to the growing demand for information technology solutions from healthcare providers, the growing need of healthcare insurance providers to efficiently manage a comprehensive record of claims and reimbursements is also expected to contribute to the growth of the global healthcare IT market during the forecast years.

The global healthcare IT market is segmented on the basis of product & service, component, and end user.

On the basis of product and service, the healthcare IT market is divided into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. The healthcare provider solutions segment is further segmented into clinical solutions and nonclinical solutions.

On the basis of component, the market is segmented into services, software, and hardware. In 2015, the services segment accounted the largest share of the global healthcare IT market.

On the basis of end user, the market is categorized into healthcare providers and healthcare payers. The healthcare providers segment is further divided into hospitals; ambulatory care centers; home healthcare agencies, nursing homes, and assisted living facilities; diagnostic and imaging centers; and pharmacies. The hospitals segment accounted for the largest share of the global healthcare IT market in 2015, and this segment is poised to grow at the highest CAGR during the forecast period.

North America accounted for the largest share in 2015, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region represents the fastest-growing market for healthcare IT, primarily due to the increasing healthcare expenditure, rising medical tourism, government initiatives to create eHealth platforms, and growth in the overall healthcare industry.

Key Playres In Healthcare IT Market:
Although, the global healthcare IT market is largely fragmented in nature. Cerner Corporation (U.S.), GE Healthcare (U.S.), Allscripts Healthcare Solutions Inc, (U.S.), Philips Healthcare (Netherlands), and Epic Systems Corporation (U.S.) are some of the leaders in the clinical healthcare IT solutions market. Whereas, the non-clinical healthcare IT market is dominated by players such as Oracle Corporation (U.S.), Infor, Inc. (U.S.), SAP AG (Germany), McKesson Corporation (U.S.).

Cerner Corporation is one of the top leading players on healthcare IT market. The company is strongly engaged in R&D activities to create new innovative solutions and services. In addition to R&D investment, the company is focused on acquisitions in order to strengthen its HCIT product portfolio and increase its markets share in all the geographies across the globe.

McKesson Corporation is among the top five players in healthcare IT market. The company has a strong presence in the U.S. market and also has a healthy presence in Europe, Asia-Pacific, Latin America, and the Middle East & Africa. To sustain their leading position the company strongly invests in R&D activities.

Philips Healthcare is one of the top companies in the healthcare IT market. The company has a robust product offering in PACS, RIS, telehealth solutions, big data analytics, system integration services, and asset management services.

Allscripts Healthcare Solutions, Inc. offers robust sets of clinical, financial and population health management solutions. The company also provides comprehensive services for healthcare payers. The company’s wide range of product portfolio helps it sustain its leading position in the healthcare IT market. 

GE Healthcare offers comprehensive HCIT solutions and consulting services to healthcare organizations. The company provides integrated care solution like enterprise imaging, care delivery management, population health management, and financial management that helps its customers to achieve better clinical and financial outcomes.

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