U.S. Healthcare IT Market to Reach $344.07 Bn, by 2030, at 13.4% CAGR: Allied Market Research

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Jun 20, 2022, 09:00 ET

PORTLAND, Ore., June 20, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "U.S. Healthcare IT Market By Product Type (Healthcare Provider Solutions, Healthcare Payer Solutions, and HCIT Outsourcing Services) and End User (Healthcare Providers and Healthcare Payers): Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the U.S. healthcare IT industry was estimated at $96.93 billion in 2020, and is anticipated to hit $344.07 billion by 2030, registering a CAGR of 13.4% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Rise in demand for quality healthcare services & solutions, surge in acceptance of mHealth & telehealth practices, growing emphasis toward improved patient safety & patient care, and increase in government initiatives to promote healthcare IT drive the U.S healthcare IT market. Furthermore, increase in prevalence of chronic diseases such as hypertension, diabetes, and cancer boosts the demand for advanced and safer treatments such as mHealth application for blood pressure monitoring, patient health analyzing software, and telehealth services, which has supplemented the growth yet more. Moreover, rise in integration of artificial intelligence (AI) for development of advanced healthcare devices has created a number of lucrative opportunities in the industry.

Covid-19 Scenario-

The Covid-19 pandemic heightened the demand for healthcare IT solutions to offer effective services to patients through locations. This, in turn, impacted the U.S. healthcare IT market positively.
Also, growing inclination toward virtual health monitoring and increase in use of telehealth propelled the market growth in several ways.

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The healthcare provider solutions segment to dominate by 2020-

Based on product type, the healthcare provider solutions segment contributed to nearly three-fifths of the U.S. healthcare IT market in 2020, and is expected to lead the trail by 2030. The same segment would also register the fastest CAGR of 13.95% throughout the forecast period. This is due to increase in demand for accurate health record systems and advancements in the healthcare IT sector.

The healthcare providers segment to maintain the dominant share-

Based on end-user, the healthcare providers segment accounted for nearly three-fourths of the U.S. healthcare IT market revenue in 2020, and is anticipated to rule the roost by the end of 2030. The same segment would also manifest the fastest CAGR of 13.59% during the forecast period. This is attributed to high demand for advanced and accurate healthcare services, rise in prevalence of chronic diseases, and increase in number of top players across the province.

Key players in the industry-

Allscripts Healthcare Solutions, Inc.
Eclinicalworks
GE Healthcare
Koch Industries
International Business Machines Corporation
Greenway Health, LLC
SAS Institute Inc.
HealthStream, Inc
3M
athenahealth, Inc

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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