North American Healthcare IT Market - Global Future Forecasts


Posted February 12, 2021 by mmvaidya

The study involved four major activities in estimating the size of the North America healthcare IT market.
 
Overview Of This Study:

The study involved four major activities in estimating the size of the North America healthcare IT market. Exhaustive secondary research was done to collect information on the adoption of different technologies and their trends at the country level. Industry experts further validated the data obtained through secondary research through primary research.

Furthermore, the market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (country-level incidence data for various diseases) and top-down approach (assessment of utilization/adoption/penetration trends, by product and services, components, and end user). After that, market breakdown and data triangulation methods were used to estimate the size of segments and subsegments.

Secondary Research:

Various secondary sources such as the US Department of Health and Human Services, Healthcare Information and Management Systems Society (HIMSS), National Association of Healthcare Quality, Centers for Disease Control and Prevention (CDC), Centers for Medicare and Medicaid Services (CMS), US Department of Labor, The Agency for Healthcare Research and Quality (AHRQ), Medical Records Institute, General Physician Hospital Organization (GPHO), Association of Information and Image Management (AIIM), The Economist Intelligence Unit, American Health Information Management Association (AHIMA), Healthcare IT News, World Health Organization (WHO), annual reports/SEC filings as well as investor presentations and press releases of key players have been used to identify and collect information useful for the study of the North America healthcare IT market.

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Primary Research:

Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess the dynamics of this market. The primary participants mainly include product managers, business development directors, sales managers, and healthcare providers across the industry.

Target Audience:

# North American healthcare IT manufacturers
# North American healthcare IT distributors
# Healthcare payer companies
# Government associations
# Market research and consulting firms
# Venture capitalists and investors

Growth Boosting Factors:

A majority of this growth is attributed to the growing adoption of various healthcare IT solutions by providers to meet the heightened regulatory requirements for patient care and safety, increasing need to curtail soaring healthcare costs, and growing need to improve the quality of healthcare while maintaining the operational efficiency of healthcare organizations.

Revenue Growth Prospects:

The North America healthcare IT market size is projected to reach USD 239.9 billion by 2025 from USD 96.3 billion in 2019, at a CAGR of 16.4% during the forecast period.

Recent Developments:

# In 2019, Cerner Corporation launched the Next-generation cognitive health platform.

# In 2019, GE Healthcare launched Edison Datalogue and my.Cryochain software.

# In 2019, Cerner Corporation collaborated with Uniform Data System for Medical Rehabilitation to integrate their solutions that would help improve workflow for inpatient rehabilitation facilities.

# In 2019, Epic Systems partnered with Teledoc Health to integrate Teledoc Health’s virtual care platform to Epic’s App Orchard that would help the company conduct telehealth video visits.

By components, the services segment accounted for the largest share of the North America healthcare IT market in 2018

Based on components, the market is segmented into services, software, and hardware. In 2018, the services segment accounted for the largest share of the North American healthcare IT market. This is attributed to the introduction of complex software, the need for integration and interoperability of software, and the growing demand for consulting and outsourcing of various healthcare processes such as revenue cycle management, EHR management, pharmacy information management, and fraud detection.

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Key Questions Addressed in the Report:

# Who are the top 10 players operating in the global North America healthcare IT market?
# What covers the drivers, restraints, opportunities, and challenges in the North America healthcare IT industry?
# What are the new technological advancements in the North America healthcare IT market?
# Comment on the regulatory scenario for the North America healthcare IT industry in various geographies.
# What are the growth trends in the North America healthcare IT market at the segmental and overall market levels?

By end-users, the healthcare providers segment accounted for the largest share of the North America healthcare IT market in 2018

Based on end-users, the North American healthcare IT market is segmented into healthcare providers and healthcare payers. The healthcare providers segment is divided further into hospitals; ambulatory care centers; home healthcare agencies, nursing homes, and assisted living facilities; diagnostic and imaging centers; and pharmacies.

Global Leaders:

Some of the prominent players operating in the North American healthcare IT market are McKesson Corporation (US), Oracle Corporation (US), GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Athenahealth, Inc. (US), Infor, Inc. (US), Cognizant (US), Dell Technologies (US), and CVS Health (US).

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags north american healthcare it , north american healthcare it market
Last Updated February 12, 2021