North America Healthcare IT (HCIT) Market Outlook, 2020-2024 - Growing Blockchain, AI, IoT, mHealth, Telehealth, and Remote Patient Monitoring Markets

DUBLIN, Jan. 23, 2020 /PRNewswire/ -- The "North American Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, PHM CRM, RCM, Telehealth, Healthcare Analytics, Supply Chain Management, mHealth, Fraud Analytics, Medication & Claims Management) End User (Provider, Payer) - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The North America healthcare IT market size is projected to reach USD 239.9 billion by 2025 from USD 96.3 billion in 2019, at a CAGR of 16.4%.

There is a growing inclination across the globe towards the adoption of healthcare technologies due to the increasing need to deliver quality care to patients while curtailing escalating costs. These robust IT solutions are designed to streamline workflow in healthcare systems, reduce expenses, and facilitate compliance with stringent regulatory guidelines.

Prominent players in the North America healthcare IT market are Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), Change Healthcare (US), Optum (US), McKesson Corporation (US), Oracle Corporation (US), GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Athenahealth, Inc. (US), Infor, Inc. (US), Cognizant (US), Dell Technologies (US), and CVS Health (US).

Based on products and services, the healthcare providers segment accounted for the largest share of the North America Healthcare IT market in 2018.

Based on products and services, the market is segmented into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. In 2019, the healthcare providers segment accounted for the largest share of the North America healthcare IT industry. The need to control the increasing healthcare costs and improve the efficiency of services by reducing medical errors are the major drivers that are propelling the demand for healthcare provider solutions.

By components, the services segment accounted for the largest market share in 2018. 

Based on components, the North America healthcare IT market is segmented into services, software, and hardware. The services segment accounted for the largest market share in 2018. This is due to the introduction of complex software, the need for integration and interoperability of software, and the growing demand for consulting and outsourcing of various healthcare processes such as revenue cycle management, EHR management, and fraud detection.

By end-user, the healthcare providers segment accounted for the largest share of the North America Healthcare IT market in 2018.

Based on end-users, the market is segmented into healthcare providers and healthcare payers. In 2018, the healthcare providers segment accounted for the largest share of the North America healthcare IT industry. This is attributed to government initiatives to improve the quality of patient care and the need to control growing healthcare costs & improve the efficiency of healthcare services.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 North America Healthcare It: Market Overview
4.2 North America Healthcare It Market, By Product & Services
4.3 North America Healthcare It Market, By Country (2017-2025)
4.4 North America Healthcare It Market, By End-user

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need to Curtail Escalating Healthcare Costs
5.2.1.2 Government Mandates and Support for Healthcare IT Solutions
5.2.1.3 Shift Towards Patient-Centric Healthcare Delivery
5.2.1.4 High Returns on Investment Associated With HCIT Solutions
5.2.2 Restraints
5.2.2.1 High Cost of Deployment
5.2.3 Opportunities
5.2.3.1 Increasing Use of Healthcare IT Solutions in Outpatient Care Facilities
5.2.3.2 Growing Inclination Towards Home Healthcare
5.2.3.3 Cloud-Based EHR Solutions
5.2.3.4 Growing Blockchain, AI, and IoT Markets
5.2.3.5 Growing mHealth, Telehealth, and Remote Patient Monitoring Markets
5.2.4 Challenges
5.2.4.1 Integration of Healthcare IT Solutions Within Healthcare Organizations
5.2.4.2 Data Security Concerns
5.2.4.3 Reluctance Among Medical Professionals to Adopt Advanced Healthcare IT Tools
5.2.4.4 Dearth of Skilled IT Professionals in the Healthcare Industry

6 Industry Insights
6.1 Evolution of Healthcare Information Technology in the US
6.2 Industry Trends
6.2.1 Technology Trends
6.2.1.1 Technology Giants Entering the Healthcare It Market
6.2.1.2 Big Data in Healthcare
6.2.1.3 Cloud Computing
6.2.2 End-User Trends
6.2.2.1 Shift Toward Value-Based Care in North America
6.2.2.2 Growing Number of Retail Clinics in the US Healthcare Industry
6.2.2.3 Growing Focus on Bridging the Gap Between Payers and Providers in North America
6.3 Adoption Trends
6.4 Potential Healthcare It Technologies
6.4.1 Ai and Data Analytics
6.4.2 App-Enabled Patient Portals
6.4.3 Blockchain Technology
6.4.4 Integration of Medical Device Data Into Care Delivery Processes

7 North American Healthcare It Market, By Product and Service
7.1 Introduction
7.2 Healthcare Provider Solutions
7.3 Healthcare Payer Solutions
7.4 Hcit Outsourcing Services

8 North American Healthcare It Market, By Component
8.1 Introduction
8.2 Services
8.2.1 Need for Software Integration & Interoperability, Which Requires Extensive Training and Regular Upgrades, is A Major Factor Supporting the Services Segment
8.3 Software
8.3.1 Increasing Number of Healthcare Organizations Shifting From On-Premise Models to Web- Or Cloud-Based Models for Core Applications is A Major Factor Driving Growth
8.4 Hardware
8.4.1 Need for Faster Data Exchange and Better Interoperability Will Help to Increase the Adoption of Hardware in Healthcare Organizations

9 North American Healthcare It Market, By End User
9.1 Introduction
9.2 Healthcare Providers
9.2.1 Hospitals
9.2.1.1 Government Initiatives to Improve the Quality of Care and Curtail Soaring Healthcare Costs are Driving the Adoption of Healthcare It Solutions Among Hospitals
9.2.2 Ambulatory Care Centers
9.2.2.1 Physician Groups and Offices
9.2.2.1.1 High Adoption Rate of Healthcare It Solutions Among Physician Offices in the US and This Number is Expected to Increase Owing to the Favorable Government Policies
9.2.2.2 Emergency Care Departments and Hospital Outpatient Departments
9.2.2.2.1 Introduction of Advanced Solutions Will Help to Improve Patient Outcomes and Reduce the Burden on Emergency Nurses
9.2.2.3 Ambulatory Surgery Centers
9.2.2.3.1 Increasing Number of Patients in Ascs for Minor Surgeries is Increasing the Need for Hcit Solutions to Maintain Patient Health Records
9.2.3 Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities
9.2.3.1 Hcit Solutions Help in Improving Both the Efficiency of Service Delivery and Healthcare Quality in These Long-Term Care Facilities
9.2.4 Diagnostic and Imaging Centers
9.2.4.1 Enormous Pressure on Diagnostic & Imaging Centers to Manage, Access, and Share Imaging Data in an Effective Manner to Drive Market Growth
9.2.5 Pharmacies
9.2.5.1 Growing Need to Improve Operational Workflows in Pharmacies and Minimize Medical Errors are Driving the Adoption of Various Healthcare It Tools Among Pharmacies Across North America
9.2.6 Other Healthcare Providers
9.3 Healthcare Payers
9.4 Private Payers
9.4.1 Growing Adoption of Healthcare It Solutions By Private Payers to Provide Consumer-Focused Healthcare Plans and Related Services is Expected to Drive Market Growth
9.5 Public Payers

10 North America Healthcare It Market, By Region
10.1 Introduction
10.2 US
10.2.1 Mandates for Hcit Adoption and Need for Cost-Containment are Driving Market Growth in the US
10.3 Canada
10.3.1 Rising Generation of Data and Incentives Have Supported Demand for Hcit in Canada
10.4 Mexico
10.4.1 Growing Medical Tourism and Lower Care of Costs Have Driven Hcit Implementation in Mexico

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging Companies
11.3 Competitive Situation and Trends
11.3.1 New Product Launches & Enhancements
11.3.2 Partnerships, Collaborations, & Agreements
11.3.3 Acquisitions

12 Company Profiles
12.1 Cerner Corporation
12.2 Allscripts Healthcare Solutions Inc.
12.3 McKesson Corporation
12.4 Oracle Corporation
12.5 Philips Healthcare
12.6 Siemens Healthineers (Siemens AG)
12.7 GE Healthcare
12.8 Epic Systems Corporation
12.9 Athenahealth Inc.
12.10 Infor Inc.
12.11 Optum (a Part of Unitedhealth Group)
12.12 Cognizant
12.13 Change Healthcare
12.14 Dell Technologies Inc.
12.15 CVS Health Corporation
12.16 IBM Corporation
12.17 Nextgen Healthcare Inc.
12.18 Eclinicalworks
12.19 Greenway Health LLC
12.20 Nvidia Corporation

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