IT-enabled healthcare finds application in tele-health, healthcare diagnostics, remote patient monitoring, healthcare education and others.
The global IT-Enabled Healthcare Market is estimated to account for US$ 464.7 Bn in terms of value by the end of 2027.
Global IT-enabled Healthcare Market: Drivers
Increasing launch of computer-assisted physician solutions is expected to propel growth of the global IT-enabled healthcare market over the forecast period. For instance, in January 2020, Nuance Communications Inc. launched Nuance Cardiovascular CAPD, a computer-assisted physician documentation (CAPD) solution designed to help cardiologists improve the quality of complex documentation and the accuracy of reimbursement for cardiac catheterization procedures.
Global IT-enabled Healthcare Market: Opportunities
Increasing adoption of RIS in public hospitals is expected to offer lucrative growth opportunities for players in the global IT-enabled healthcare market. For instance, in March 2020, NHS Nightingale, a hospital run by Barts Health NHS Trust, announced to adopt Cerner Corporation’s electronic patient record (EPR) and the Sectra RIS and CliniSys pathology software.
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Global IT-enabled Healthcare Market: Restraints
Concerns regarding data safety is expected to hinder growth of the market. For instance, according to Kaspersky, smart DDoS attacks that were focused on the application layer increased by 73% in Q3 2019 compared to those in Q4 2019.
The global IT-enabled healthcare market was valued at US$ 187.7 Bn in 2019 and is forecast to reach a value of US$ 464.7 Bn by 2027 at a CAGR of 12.0% between 2020 and 2027. Increasing launch of new and advance healthcare software solutions is expected to propel growth of the global IT-enabled healthcare market over the forecast period.
Software segment held dominant position in the global IT-enabled healthcare market in 2019, accounting for 69.6% share in terms of value. Increasing adoption of cloud-based PACS is expected to drive the segment growth during the forecasted period.
Launch of mobile apps that integrate with RIS and PACS is expected to aid in growth of the market. For instance, in April 2020, MedInformatix, a health IT company, launched Wait in Car, a new mobile-friendly application that allows patients to wait in the safety of their automobiles for assigned medical appointments. The app integrates with RIS platforms and electronic health record (EHR) to provide the service.
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Adoption of order communication system and EMRs is high among physicians. For instance, in June 2019, researchers from Korean Medical Association, South Korea, reported that around 68% of the self-employed physicians adopted the Order Communication System and EMRs, while only one-third adopted PACS.
Global IT-enabled Healthcare Market: Competitive Landscape
Major players operating in 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, and AirStrip Technologies LP.
Global IT-enabled Healthcare Market: Key Developments
March 2020: Sectra signed a contract with Region Halland, a Sweden-based healthcare provider, to deliver its RIS as a cloud service
September 2019: eRAD demonstrated its EHR-Certified RIS, PACS Evolution, and other product portfolios at RSNA 2019
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