Analysis of the North America Healthcare IT Market: Size, Share, Forecast, & Trends
Meticulous Research, a premier global market analysis firm, has published a comprehensive study titled “North America Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud), and End User (Hospital, Payer, Ambulatory, Homecare) - Forecast to 2030.”
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According to the report, the North America healthcare IT market is forecast to grow at a CAGR of 10% from 2024, reaching $344.95 billion by 2030. The expansion of the market is driven by several key factors, including the increasing adoption of digital health solutions, government mandates that incentivize the use of HCIT (Healthcare Information Technology), the ongoing shift towards value-based healthcare, and the growing use of big data to optimize healthcare management. Other driving factors include a significant return on IT investment within the healthcare industry and the rising prevalence of chronic diseases. Despite these favorable factors, the high costs of implementation and maintenance of healthcare IT systems act as barriers to growth. However, there are emerging opportunities in cloud-based healthcare IT solutions, and the rising adoption of Artificial Intelligence (AI) and Internet of Things (IoT) technologies in healthcare are paving new paths for the industry. Nonetheless, challenges such as interoperability problems and concerns over data security and privacy remain obstacles.
Key Market Players
Leading the North America healthcare IT market are major players like McKesson Corporation (U.S.), Optum Health (U.S.), IBM (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Epic Systems Corporation (U.S.), athenahealth, Inc. (U.S.), GE HealthCare Technologies Inc. (U.S.), Cerner Corporation (U.S.), Oracle Corporation (U.S.), Cognizant Technology Solutions Corporation (U.S.), and Koninklijke Philips N.V. (Netherlands) among others.
Future Outlook and Segmentation
In 2024, the North America healthcare IT market is divided into Healthcare IT Provider Solutions, Healthcare Payer Solutions, and Healthcare IT Outsourcing Services. The Healthcare Provider Solutions segment is anticipated to command the largest market share, driven by factors such as rising demand for integrated healthcare solutions, greater emphasis on patient safety, and growing investments in healthcare infrastructure. Similarly, the services segment within the components market is projected to lead, primarily due to increased investments in digital healthcare technologies and accelerated adoption of these technologies during the COVID-19 pandemic.
Cloud-based systems are expected to dominate the delivery mode segment, with healthcare organizations showing a preference for web/cloud-based solutions due to their scalability, flexibility, and enhanced data security features. These solutions offer benefits such as automatic backups, encryption, and easy access, driving their adoption.
End Users and Market Trends
Among end users, healthcare providers will likely account for the largest share of the market by 2024, with the ongoing physician shortage playing a pivotal role. According to projections from The Complexities of Physician Supply and Demand: 2019 to 2034, the U.S. healthcare system may experience a shortage of up to 124,000 physicians, making digital solutions a critical tool for addressing this gap.
Geographic Insights
Geographically, the United States is projected to dominate the North America healthcare IT market, largely due to factors such as the increasing adoption of healthcare IT services, growing expenditures on healthcare, and an aging population with rising incidences of chronic diseases.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/north-america-healthcare-it-market-5634
Key questions answered in the report:
Which are the high-growth market segments in terms of product, component, delivery mode, end user, and country?
What was the historical market for healthcare IT across North America?
What are the market forecasts and estimates for the period 2024–2030?
What are the major drivers, restraints, opportunities, and challenges in the North America healthcare IT market?
Who are the major players in the North America healthcare IT market?
How is the competitive landscape, and who are the market leaders in the North America healthcare IT market?
What are the recent developments in the North America healthcare IT market?
What strategies are adopted by the major players in the North America healthcare IT market?
What are the geographical trends and high-growth countries?
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North America Healthcare IT Market, Health information technology, Healthcare IT, Healthcare IT Services, Hospital IT, Healthcare Technology, Healthcare IT Solutions, Healthcare, Medical |