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 North America Healthcare IT Market to Register Substantial Expansion by 2025| McKesson Corporation, Cerner Corporation, Allscripts, Carestream Health and Siemens AG.

According to Data Bridge Market Research new Market report “North America Healthcare IT Market, By Product (EHR, RIS, PACS, VNA, CPOE, MHealth, Telehealth, Healthcare Analytics, Supply Chain Management, Revenue Cycle Management, CRM, Claims Management, Fraud Management), By End User (Providers (Hospitals, ASC’s, Home Healthcare, Diagnostic Centers, Pharmacies), Payers (Private, Public)), By Geography (U.S., Canada, Mexico) – Trends and Forecast to 2025”, has accounted a market value of USD 58.6 billion in 2015 and is expected to grow to USD 148.4 billion in 2025, growing at a healthy CAGR during the forecast period 2020 to 2025.

The market analysis covered in the healthcare IT report offers an examination of various segments that are relied upon to witness the quickest development amid the estimated forecast frame. The report analyses and estimates general market drivers in the form of consumer demand, government policy and demand which are related to consumer buying pattern and thereby market growth and development. The market report is an analytical assessment of the most important challenges that may arrive in the market with respect to sales, export/import, or revenue. The healthcare IT market report acts as an imperative tool to have increments in business activities, qualitative work done and enhanced profits.

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Key Drivers: 

Some of the major factors driving the market for North America healthcare IT market are need for paper less technology, increasing government initiatives on healthcare IT sectors, adoption of cloud services and prevalence of chronic diseases.

Increasing government Initiatives on Healthcare IT Sectors

Various healthcare IT related government initiatives have been launched by the government of different countries such as India, China, Japan and others, that has a clear vision to deliver better health outcomes.

Below are few initiatives taken by government in HCIT sector:

According to the, Canadian Healthcare Technology, in June 2018, The Canadian government has launched a USD 24.9 million program to fund cross-disciplinary research in the area of artificial intelligence and healthcare. The Canadian Institutes of Health Research is leading the effort, called the Collaborative Health Research Projects. This will be launched competition which will built bridge of artificial intelligence, health research and the social sciences and humanities.

According to the, Canadian Healthcare Technology, in May 2018, a digital health portal giving Quebec patients access to their own data was launched. Health Minister Gaétan Barrette announced that Carnet santé Québec will be available on computers, tablets and smartphones. This online service tool for the patients will be simple, safe, secure and free.

Adoption of Cloud Services:

Prevalence of Chronic diseases:

Key Points: 

Epic Systems Corporation is going to dominate the North America healthcare IT market followed by McKesson Corporation, Cerner Corporation, Allscripts, Carestream Health and Siemens AG.

  • The HCIT outsourcing services segment is dominating the North America healthcare IT market.
  • Providers segment is expected to grow with the highest CAGR in the forecast period 2018 to 2025.

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Market Segmentation: North America Healthcare IT Market 

  • The North America healthcare IT market is segmented on the basis of products & services into HCIT outsourcing services, healthcare provider solutions and healthcare payer solutions. In 2018, HCIT outsourcing services segment is expected to dominate the healthcare IT market with the highest market share in the forecast period 2018 to 2025. The healthcare provider solutions are further segmented on the basis of clinical solutions and non-clinical solutions.
  • The clinical solutions are further sub segmented into electronic health records medical image processing and analysis systems, picture archiving and communication systems, radiology information systems, laboratory information systems, vendor neutral archive, computerized physician order entry, clinical decision support systems, specialty management information systems, healthcare IT integration systems, practice management systems, radiation dose management and others.
  • The non-clinical solutions are also sub segmented into healthcare information exchange, revenue cycle management solutions, financial management systems, population health management solutions, medical document management solutions, pharmacy information systems, workforce management systems and healthcare analytics.
  • The North America healthcare IT market is segmented based on end users into providers and payers. In 2018, providers segment is estimated to rule with the highest CAGR in the forecast period.
  • Providers are further sub segmented into hospitals, home healthcare, diagnostic centres, ambulatory surgical centres and pharmacies. Payers are further sub segmented into public and private.
  • The North America healthcare IT market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

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