Adoption of health IT services has increased in recent years. According to the Deloitte survey, the percentage of consumers or respondents using virtual tours increased from 15% in 2019 to 19% in early 2020, and increased by around 28% in April 2020. This ultimately boosts the health IT market worldwide, with an annual growth rate of almost 12% in the next 10 to 15 years.
The global medical information technology market is valued at approximately US$75 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12% during the forecast period from 2022-2030. The growing demand from many healthcare companies, the acceptance of preventive measures, and the increase in funding are driving market growth. In addition, the expansion of network coverage and the gradual improvement of network infrastructure are supporting the growth of this market.
Advances in healthcare technology used to improve IT infrastructure, such as artificial intelligence, the Internet of Things, and healthcare big data, are also driving market growth. In addition, the growing consumer demand for effective and efficient processing, as well as the increasing awareness of new and updated technologies, are expected to predict market growth over time. According to a recent report from the World Anti-Doping Agency and a 2020 article published in Health IT News, the adoption of healthcare IT services has increased in recent years. For example, remote monitoring used to improve healthcare has increased from 13% in 2016 to 22% in 2019. With the spread of smartphones and the improvement of Internet connectivity by the Ministry of Health Technology, the utilization rate is expected to be higher.
According to “Mobile Economy 2020”, the number of individual mobile users is expected to reach approximately 5.2 billion in 2019 and approximately 5.8 billion in 2025. In addition, the number of Internet users increased from 250 million in 2018 to approximately 3.8 million. In addition, patient interaction and satisfaction are expected to drive the market, as well as advances in smart phones and Internet technologies to improve disease diagnosis and treatment.
Major market players:
Philips Healthcare, Agfa Healthcare, Hewlett-Packard Enterprise, Carestream Health, GE Healthcare, E-MDS Inc., Athenahealth Inc., eClinical works, McKesson Corporation.
Due to the growing demand for electronic health simplification, integrated electronic health record tools, and advances in information technology, EHR plans to dominate the medical informatics market with a revenue share of more than 40% in 2020. From 2021 to 2028, the industry continues to increase the number of strategic initiatives and implementations that support healthcare institutions’ awareness and approval of electronic medical records, various market participants, and is expected to grow at a compound annual rate. illustration. The planning department is expected to experience the fastest growth during the forecast period.
The increasing demand for better patient care, neglect and reduction of prescriptions is one of the main drivers of market demand for electronic prescription systems. For example, according to Statista, the share of electronic versions in the United States increased from 66% in 2017 to 80% in 2019. In addition, as clinics, hospitals, and other centers receive medical assistance, the adoption of online health records is increasing. Sales support the development of the industry. Leading hospitals and research centers in the region, such as the Cleveland Clinic, University of Maryland Medical Center, Johns Hopkins Medical Center, St. Jude Children’s Research Hospital, and Mayo Clinic, all demonstrate these potential growth opportunities.
Main market regions:
The study on Health information technology market was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the Global health information technology market research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.