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By 2023, Healthcare IT Market Growth Will be Positively Impacted by Rising Implementation Of Software Solutions

Author : Ronak Bora | Published Date : 2019-04-01 

Asia Pacific Healthcare IT Market is estimated to witness significant growth owing to increasing healthcare expenditure, increasing occurrences of chronic diseases, increasing per capita income, rising medical tourism, rapidly developing healthcare infrastructure as well as growing health awareness among middle-class residents in budding nations is likely to drive industry growth. Countries such as China, Brazil and India are expected to provide huge growth avenues to industry participants owing to increasing government focus on delivering economical, efficient and on time delivery of quality care through effective implementation of healthcare solution.

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The spur in the healthcare IT market can be mainly attributed to increasing adoption of numerous healthcare IT solutions by healthcare professionals to meet regulatory needs for patient’s safety and care. In addition, mounting need to improvise the quality of healthcare along with maintaining the operational efficiency of the healthcare organizations is estimated to positively impact the industry growth over the forecast period. Proliferating adoption of Computerized Physician Order Entry (CPOE), increasing global patient base and technological innovations is expected to boost the industry demand from 2016 to 2023. Moreover, benefits offered such as reduction in operational cost, lesser number of errors in medical facility along with ascending successful outcomes is anticipated to fuel the Healthcare IT Market growth.

Advent of cloud computing along with interoperable systems used in detection and identification of infectious diseases and tracking occurrence and frequency rates of chronic diseases might serve as a vital rendering factor for the industry growth. In addition, introduction of sophisticated softwares such as ambulatory care management systems, hospital information systems, patient management system, e-prescribing systems, electronic medical record and electronic health record are likely to elevate the Healthcare IT Market demand.

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The Healthcare IT Market can be segmented on the basis of product and end user. On the basis of product the industry can be segmented into RIS, EHR, PACS, CPOE, VNA, mHealth, healthcare analytics, telehealth, supply chain management, CRM, fraud management, claims management and revenue cycle management. Based on end user the industry can be segregated as provider and payer.

Rising implementation of software solutions namely data mining, clinical decision support system, and clinical trial management system is anticipated to positively impact the Healthcare IT Market. In 2013, telehealth and telemarket collectively accounted for around 42% of the industry share owing to significant usage and ease of information transfer with the help of telecommunication technologies offered by the system. The surge in the segment can be dedicated to shifting customer predilection to avoid hospital stays and rising demand for home healthcare facilities.

Key industry participants occupying major healthcare IT market share include Philips Healthcare, Hewlett-Packard, Agfa Healthcare, NextGen Healthcare Information System LLC, Allscripts Healthcare Solutions Inc, Siemens Healthcare, E-MDS Inc., GE Healthcare, Athenahealth Inc., Sap AG, McKesson Corporation, Carestream Health, EPIC Systems, Cerner Corporation, Oracle Corporation, eClinicalworks and Carestream Health Mckesson Corporation.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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