To know the impact of COVID-19 On Healthcare IT Integration Market 2020 By Product Type (Interface/Integration Engines, Medical Device Integration Software, Media Integration Solutions, Other Integration Tools ), By Services (Implementation Services, Training Services, Support and Maintenance Services ), By End-User (Hospitals, Radiology Centres, Cath Labs, Diagnostic Laboratories, Clinics, Others) Forecast to 2025 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
"Global Healthcare IT Integration Market is valued at USD 2.95 Billion in 2018 and expected to reach USD 5.08 Billion by 2025 with the CAGR of 8.10% over the forecast period."
Increasing prevalence of chronic diseases and growing demand for advanced healthcare services, in the globe geriatric population as well as rise in healthcare expenditure are expected to drive the growth of Global Healthcare IT Integration Market over forecast period.
Scope of Global Healthcare IT Integration Market Report–
The healthcare integration is the partnership between healthcare providers, payers, vendors, etc. that brings the data or function from one application program to that of another. Due to the sheer mass and diversity of data, healthcare providers face major challenges in integrating and effectively analyzing healthcare information. Hence, the traditional health IT systems, such as electronic health record (EHR) and personal health record (PHR) systems, utilize completely different technical and semantic standards to depict and house data are based on exclusive technical architectures. However, the healthcare IT integration refers to perform the digital intervention for the effective organization of patient health. It enables the effective archiving, monitoring, integration and communication of patient’s health in a secure environment. These healthcare IT integration practices are used for purposes such as computerized provider order entry, clinical decision support, electronic prescribing, and consumer health IT relevance and storage, transmit of the electronic medical records across different end points.
Conversely, the integration is the key for creating and improving advanced healthcare applications. The integrating healthcare information from a variety of providers and payers will improve the current healthcare delivery and also extensive research efforts. The integration will decrease clinical errors, enhance care coordination efforts, and increase patient care among other possibilities are long term, integration will allow for further public health research possibilities and population surveillance to identify real issues. Since the dawn of modern medicine, technological advances have been giving doctors, nurses, and hospital administrators better and better tools for treating the unwell since the dawn of modern medicine. It includes everything from the stethoscope to vaccinations to x-rays to present day integrated healthcare technologies. Furthermore, the technology integration in healthcare is improving the ways to prevent diseases, perform surgeries, and deliver treatments. Hence, the innovations with the most significant day-to-day influence are the ones that provide patients with access to reliable, real-time information. The previously labor-intensive, oftentimes irritating undertaking of filing medical claims has been seriously improved upon by technology in recent years.
Global Healthcare IT Integration Market report is segmented on the basis of product type, services, end-user and by regional & country level. Based on product type, global healthcare IT integration market is classified as the interface/integration engines, medical device integration software, media integration solutions and other integration tools. Based upon services, global healthcare IT integration is classified into implementation services, training services and support and maintenance services. Based upon end-user, global healthcare IT integration is classified into implementation end -user, hospitals and radiology centre, cath labs, diagnostic laboratories, clinics and others.
The regions covered in this Healthcare IT Integration Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Healthcare IT Integration Market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Healthcare IT Integration Manufacturers
Some major key players for Global Healthcare IT Integration Market are,
- Infor Inc
- Cerner Corporation
- Quality Systems Inc.
- Interface Ware, Inc.
- Epic Systems Corporation
- Qualcomm Life, Inc.
- AVI-SPL, Inc
- Core point Health
- Oracle Corporation
- GE healthcare
- Orion Health
- Siemens health
- Core Point health
- Allscripts healthcare solutions Inc.
- Intersystem corporation
Global Healthcare IT Integration Market Dynamics–
Increasing healthcare costs and the growing volume of data generated in healthcare systems are some major factors expecetd to drive the demand for healthcare IT integration. Increasing need to improve patient safety and the favorable government and private support for healthcare IT integration will also contribute to market growth. According to the World Health Organization (WHO), prevalence of chronic diseases cancer and diabetes has been tremendously increased annually in 2020, the largest number of chronic diseases sufferers in the world at around 114 million and 69 million, in that order. Globally the number is expected to rise from the current 415 million to 642 million by 2040. In addition, the ease of availability of technological devices, heightened usage of computing devices by patients as well as practitioners, rise in use of HER and efforts by healthcare providers to increase their return on investment all drive the market for this and will continue to do so in the future. Furthermore, the appearance of health information exchange (HIE) backed by government initiatives to promote integrated healthcare infrastructure also supports the growth of this market.
Increasing investment to support clinical integration, population health, and other cost reduction/revenue enhancement are some of the opportunities expected to respond to new payment systems and grow market share. However, the high effective expenditure associated with healthcare integration and the increased concerns of data security as healthcare records of patients may hamper the growth of the global healthcare IT integration market. Moreover, the increased intervention of IT technologies, the need for effective integration solutions and tools is also being felt. These factors can create various opportunities for the further growth of the market.
Global Healthcare IT Integration Market Regional Analysis–
North America is expected to account for the largest share of the healthcare IT integration services market owing to high usage of personal computing devices by the general population in this region. According to the World Health Organization (WHO),the estimates that big data analytics can enable more than $300 billion in savings per year in U.S. healthcare, two thirds of that reductions of approximately 8% in national healthcare expenditures. The clinical corporation and R & D are the largest areas for potential savings with 165 billion and 108 billion. The Asia Pacific is expected to show a fast growth in this market which is attributed to the presence of less-stringent regulations, increasing demand for quality healthcare at low costs, and improving healthcare infrastructure in several countries in this region. Hence, the increased awareness regarding technologically advanced treatment methodologies, and increased usage of mobile computing devices are expected to supplement the growth of Asia Pacific healthcare IT integration market.
Key Benefits for Global Healthcare IT Integration Market Report–
Global Healthcare IT Integration Market report covers in depth historical and forecast analysis.
Global Healthcare IT Integration Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Healthcare IT Integration Market report helps to identify opportunities in market place.
Global Healthcare IT Integration Market report covers extensive analysis of emerging trends and competitive landscape.
Global Healthcare IT Integration Market Segmentation:–
By Product Type: Interface/Integration Engines, Medical Device Integration Software, Media Integration Solutions, Other Integration Tools
By Services: Implementation Services, Training Services, Support and Maintenance Services
By End-User: Hospitals, Radiology Centres, Cath Labs, Diagnostic Laboratories, Clinics, Others
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Healthcare IT Integration Market | Share and Demand Forecast 2020 and Analysis 2019-2025