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The unprecedented growth pace of the market is rightly attributed to the rising prevalence of chronic diseases like diabetes, CVDs, and obesity.
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Healthcare IT Market Regional Analysis and Growth Forecast during 2020 – 2026 • Driven by the challenges produced by the novel coronavirus outbreak, various medical and healthcare professionals have begun shifting their interests and practices towards digital platforms. Social distancing and lockdown has indeed enabled the global healthcare IT market to witness a phenomenal upsurge over the past few months, in turn compelling various industry majors to invest heftily in the business space. • As per news reports, WhatsApp had in early 2020, declared the launch of two initiatives in support of the global fight against COVID-19 pandemic, in partnership with the aforementioned organizations and a USD 1 million donation to the Poynter Institute’s International Fact Checking Network. Such initiatives are anticipated to highlight the growth prospects of the global healthcare IT market, which as per reliable estimates is poised to account for USD 535.6 billion over 2020-2026. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com
The unprecedented growth pace of the market is rightly attributed to the rising prevalence of chronic diseases like diabetes, CVDs, and obesity. This has indeed proliferated the demand for advanced healthcare services and paved way for mounting investments for enhancement of healthcare infrastructures. In fact, as per the IBEF statistics, over USD 3.2 billion were invested in India’s diagnostic centers and hospitals by foreign investors between 2015 to 2020. This move certainly serves as a growth opportunity for the overall healthcare IT market expansion. • Considering the solutions segment, the healthcare IT market is further sub-segmented into electronic health record, picture archiving and communication systems, radiology information systems, computerized physician order entry, mhealth, telehealth, and others. Of these, the mhealth sector accounted an overall market share of 12.8 per cent and is poised to observe similar growth in the upcoming years, on the grounds of the product’s rising prominence globally aligned with its ease of use. • Elaborating further, the mhealth industry typically comprises health-related mobile applications and wearable devices. An example for the same is Kardia mobile device- a technology developed by AliveCor. It is probably an FDA and EU class II approved mobile technology used in clinical research. Speculations have it that the device is the clinically approved mobile ECG system which enables the users to yield an active role in cardiac health. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com
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Regional Analysis • Asia Pacific is likely to emerge as a lucrative growth ground for healthcare IT industry over the forthcoming years, ascribing to the rising disposable incomes and rapid transformation in the healthcare infrastructures. Moreover, initiatives and programs being rolled out by various governments of health council would further propel the market trends across the region, allowing it to stand tall in the overall industry. • Competitive Analysis • Agfa Healthcare, Allscripts Healthcare Solution, McKesson Corporation, Siemens Healthineers, Cerner Corporation, GE Healthcare, Oracle Corporation, elicnicalWorks, Athenahealth, Carestream Health, eMDs, Inc, Epic System Corporation, Experian Information Solutions, Inc, SAP, Koninklijke Philips N.V., NextGen Health Inc, HP Enterprise Development, L.P are some of the key players operating in the healthcare IT market. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com
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