Global IT-Enabled Healthcare Market Size to Exceed USD 366.05 Billion by 2028, At a CAGR of 11.50% by Technology Updates
New York, NY, Jan. 30, 2023 (GLOBE NEWSWIRE) — According to Zion Market Research has published a new research report titled “IT-Enabled Healthcare Market By Type (Software And Services), By End-User (Public/Private Healthcare Institutions, Physicians, Healthcare Workers, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.
“According to the latest research study, the demand of global IT-Enabled Healthcare Market size & share in terms of revenue was valued at USD 190.50 billion in 2021 and it is expected to surpass around USD 366.05 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 11.50% during the forecast period 2022 to 2028”
What is IT-Enabled Healthcare? How big is the IT-Enabled Healthcare Industry?
IT-Enabled Healthcare Report Coverage & Overview:
IT-supported healthcare services provide ample means to overcome the losses of current healthcare systems worldwide. As the goals of various governments worldwide to develop national priority health infrastructures are increasing, private and public health infrastructures in these countries have also been designed for a long time. Countries such as Algeria, Singapore, Argentina, Chile, China, Brazil, and India constantly strive to increase their public health initiative budgets through different private and government models. This attempt was made to expand to the mass user. In addition, the shortcomings of conservative paper-based technologies such as redundancy, high cost, and imperfections result in meaningless medical costs.
IT-backed healthcare provides a viable alternative to conservative systems to reduce unnecessary healthcare costs and improve the efficiency and quality of healthcare services. To increase the adoption of IT-enabled healthcare services and boost the global IT-enabled healthcare market, there is a need to address issues such as data corruption, intrusion, corruption, and fraud.
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Global IT-Enabled Healthcare Market: Growth Dynamics
The global IT-enabled healthcare market has experienced significant growth in recent years, driven by factors such as the increasing adoption of electronic health records (EHRs), telemedicine, and mobile health (mHealth) solutions. The COVID-19 pandemic has accelerated the adoption of these technologies, as they enable healthcare providers to offer remote patient care while maintaining social distancing. The market is expected to continue growing in the coming years, with a projected compound annual growth rate (CAGR) of around 11.50% from 2022 to 2028.
Healthcare organizations must implement sound data security management practices to ensure data protection, which will drive the global IT-enabled healthcare market. Interoperability issues related to healthcare IT solutions such as EHR (Electronic Health Records), patient identification, and other healthcare business processes, including clinical policies, impede the use of these services and are indirectly global. Therefore, it is hampering the IT-enabled healthcare market. For services to be executable, various medical IT solutions need to be streamlined and automated. The different network protocols also lead to interoperability issues between different IT networks, hampering the global market.
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 190.50 billion |
| Projected Market Size in 2028 | USD 366.05 billion |
| CAGR Growth Rate | 11.50% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems Inc., Aerotel Medical Systems Ltd., Siemens AG, E*HealthLine.Com Inc., Allscripts Healthcare Solutions Inc., AT&T Inc., Apple Inc., MedShift, RxSafe LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP |
| Key Segment | By Type, By End-User, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
IT-Enabled Healthcare Market: Segmentation Analysis
The global IT-enabled healthcare market is segregated based on type, end-use, and region. By type, the market is divided into software and services. Among these, the software segment is expected to dominate the market in the coming years. By end-user, the market is segmented into public/private healthcare institutions, physicians, healthcare workers, and others. Over the forecast period, the public/private healthcare institutions segment is expected to develop at the fastest rate due to a growing awareness of healthy lifestyles among consumers worldwide.
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The global IT-Enabled Healthcare market is segmented as follows:
By Type:
By End User:
- Public/Private healthcare institutions
- Physicians
- Healthcare workers
- Others
Browse the full “IT-Enabled Healthcare Market By Type (Software And Services), By End-User (Public/Private Healthcare Institutions, Physicians, Healthcare Workers, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/it-enabled-healthcare-market
Competitive Landscape
Some of the main competitors dominating the global IT-Enabled Healthcare market include –
- McKesson Corporation
- eHealth Technologies
- GE Healthcare
- Johnson and Johnson Healthcare Systems Inc.
- Aerotel Medical Systems Ltd.
- Siemens AG
- E*HealthLine.Com Inc.
- Allscripts Healthcare Solutions Inc.
- AT&T Inc.
- Apple Inc.
- MedShift
- RxSafe LLC
- Sectra
- Wellbeing Software
- AirStrip Technologies LP
Key Insights from Primary Research:
- The global IT-enabled healthcare market was worth around USD 190.50 billion in 2021 and is estimated to grow to about USD 366.05 billion by 2028, with a compound annual growth rate (CAGR) of approximately 11.50 percent over the forecast period.
- In terms of revenue, the IT-Enabled Healthcare market size was valued at around US$ 190.50 billion in 2021 and is projected to reach US$ 366.05 billion by 2028.
- Low Internet penetration in emerging markets is expected to hinder market growth.
- Growth in the public / private healthcare segment can be driven by increased awareness of healthy lifestyles worldwide.
- Market participant initiatives are supported by favorable political framework conditions of governments in many North American countries
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Key questions answered in this report:
- What is the market size and growth rate forecast for IT-Enabled Healthcare industry?
- What are the main driving factors propelling the IT-Enabled Healthcare Market forward?
- What are the leading companies in the IT-Enabled Healthcare Industry?
- What segments does the IT-Enabled Healthcare Market cover?
- How can I receive a free copy of the IT-Enabled Healthcare Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product Type, By End-User, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America dominates the global IT-enabled healthcare market as it promotes economic and government initiatives to digitize and automate the tasks of various healthcare organizations, including hospitals, pharmacies, nursing homes, and other healthcare organizations. Therefore, the increasing adoption of cloud-based PACS is expected to provide favorable growth opportunities for players in the North American market. Furthermore, cloud-based PACS has several advantages, including on-demand self-service, extensive network access, resource pooling, rapid resilience, and pay-as-you-go services that are anticipated to drive the North American market growth.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- August 2022, Regard, an artificial intelligence (AI) software firm and Maryland-located TidalHealth have launched a collaboration intended to boost patient diagnosis accuracy, improve revenue, and decrease clinician burnout through improved documentation.
- August 2022, Clarify Health is introducing a new platform that makes use of behavioral science to push providers toward value-based care. The new digital tool, Named Clarify Advance, can direct decision-making by providing “salient and timely monetary incentives” for clinicians choosing higher-value service sites. The platform has enhanced the use of high-value care by providers by 15%.
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