Healthcare Information Technology (It) Outsourcing Market Size to Reach USD 51.93 Billion Globally with Growing CAGR of 10.00% by 2029
Global Healthcare Information Technology (It) Outsourcing Market report not only aids to save valuable time but also adds credibility to the work that has been done to grow the business. By applying market intelligence for this market report, industry expert measure strategic options, summarize successful action plans and support companies with critical bottom-line decisions. To accomplish maximum return on investment (ROI), it’s very essential to be acquainted with market parameters such as brand awareness, market landscape, possible future issues, industry trends and customer behaviour where this report comes into play. Another major part of wide ranging Global Healthcare Information Technology (It) Outsourcing Market report is the competitive landscape which gives a clear insight into the market share analysis and actions of key industry players.
Data Bridge Market Research analyses that the Healthcare information technology (IT) outsourcing market is expected to reach the value of USD 51.93 billion by the year 2029, at a CAGR of 10.00% during the forecast period. The rising prevalence of chronic disorders, increased emphasis on research and development capabilities in medical devices and the adoption of advanced healthcare technologies, an increasing number of supportive government policies, and rising expenditure for the development of healthcare infrastructure, particularly in developing economies, are the major factors driving the growth of the healthcare information technology (IT) outsourcing market.
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In the healthcare information technology market, outsourcing is a new phenomenon. It is a screening process in which an organisation chooses the most efficient third-party service provider to run its management and administrative unit. Outsourcing IT solutions in the healthcare industry has emerged as an effective way to reduce rising healthcare costs while meeting the growing demand for high-quality care. The trend of healthcare IT outsourcing solutions has grown significantly over the years, attracting both large and mid-sized organisations. In some cases, the entire information management system is outsourced, whereas in others, only key application services, such as EMR, CRM, and billing system implementation, are outsourced.
Drivers
- The rise in the research and development expenditure
The increasing of research and development expenditures, as well as the increased outsourcing of research and development activities, are expected to drive growth in the healthcare information technology (it) outsourcing market during the forecast period.
- The increase in the digitization of economies
Another market growth determinant is the increasing digitization of economies, particularly those in emerging markets. Other important factors that will generate lucrative market growth opportunities include an increasing shortage of in-house IT professionals and a shift toward patient-centric systems.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the Healthcare information technology (IT) outsourcing market.
Some of the major players operating in the healthcare information technology (IT) outsourcing market are
- Allscripts Healthcare, LLC (US)
- Epic Systems Corporation (US)
- McKesson Corporation (US)
- Cerner Corporation (US)
- Siemens Healthcare GmbH (Germany)
- Carestream Health (US)
- Agfa-Gevaert Group (Belgium)
- athenahealth, Inc. (US)
- eClinicalWorks (US)
- GENERAL ELECTRIC (US)
- GREENWAY HEALTH, LLC. (US)
- Infor (US)
- Koninklijke Philips N.V. (Netherlands)
- NXGN Management, LLC (US)
- Oracle (US)
- Siilo (Netherlands)
- BigHealth (US)
- Vida Health (US)
- SWORD Health (US)
- NOVIGENIX SA (Switzerland)
- Lantum (UK)
- BD (US)
- Bioaxis (India)
- Ada Health GmbH (Germany)
Market Definition
Healthcare information technology (IT) outsourcing, as the name implies, is a system of outsourcing IT activities from companies or individual service providers. This allows the healthcare institution to focus on internal activities rather than IT-related operations and technicalities. Outsourcing is a concept that is widely accepted by organisations of all sizes and shapes.
Report Scope and Market Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2022 to 2029 |
Base Year | 2021 |
Historic Years | 2020 (Customizable to 2014 – 2019) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
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Healthcare information technology (IT) outsourcing Market Scope
Type
- Provider HCIT outsourcing
- Electronic health record (EHR)
- Payer HCIT outsourcing
- Operational HCIT Outsourcing
- Life sciences HCIT outsourcing
- IT infrastructure outsourcing
Based on type, the healthcare information technology (IT) outsourcing market is segmented into provider HCIT outsourcing, electronic health record (EHR), payer HCIT outsourcing, operational HCIT Outsourcing, Life sciences HCIT outsourcing, and IT infrastructure outsourcing..
Application
- Care management
- administration
- IT infrastructure management
Based on application, the healthcare information technology (IT) outsourcing market is segmented into care management, administration and IT infrastructure management.
End User
- Healthcare provider system
- Pharmaceutical, biotechnology
- Clinical research organization (cro
- health insurance
On the basis of end user, the healthcare information technology (IT) outsourcing market is segmented into healthcare provider system, pharmaceutical, biotechnology, clinical research organization (CRO) and health insurance.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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