Healthcare IT Market Regional Analysis and Growth Forecast during 2020 – 2026

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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
  Institutes 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.

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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. 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 Indias 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 products 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.

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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.

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