Healthcare IT Industry to Meet New Demands by 2022

According to HHS office of National Coordinator of Health IT, Healthcare IT is defined as ‰ÛÏthe application of information processing involving both computer hardware and software that deals with the storage, retrieval, sharing, and use of health care information, data, and knowledge for communication and decision making.‰Û The main goal of the health information technology market is to maintain records containing the patients‰Ûª health information and delivering it to the doctor, patient or their family in a safe and efficient way.

The Global Healthcare IT Market is estimated to be valued at USD XX billion in 2016 and is projected to reach USD XX billion by 2021, at a CAGR of XX% during the forecast period from 2016 to 2021. Increased government funding in Healthcare IT, favorable policy to promote smaller and bigger player to adopt this technology, emergence of social media, need to curtail ever increasing healthcare cost, need to increase efficiency of current medical practices and institution and high return on investment are the key drivers of this market. Additionally, rise in demand of paper-less technology, focus on improving quality of care, need to improve quality of patientdemographic, financial and clinical information, integration of big data in healthcare, and technological advancements, among others are some of the other drivers of this market.

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The technology also has certain constraints to overcome, such as lack of skilled IT professionals in healthcare sector, high maintenance and security cost and reluctance to shift to new technology. Data Integrity and safety is also a key concern. However, the technology has several opportunities as well. The introduction and implementation of Electronic Health Records (EHR), the rising investments in venture capital funds, and the implementation of trends in the medical-IT field, such as precision medicines, EHR, analytics-driven personalized medicines, clinical DSS, health and disease management, and so on.

The adoption of IT in healthcare systems has been going on from more than three decades and it will be continued, first it will focus on getting everything digitalized and then updating the existing system and so on. So, the one point we have to keep in mind is that there is no going back in this sector, IT being one among the most dynamic sector neither gives a chance of being still even for shorter period. So next question automatically comes in our mind is what is next? How this system will go further? Learning from the experience of early adopters and on looking at current trends in healthcare IT, we can definitely say that focus will now shift from hospitals, healthcare institution to patients or individualneed. First step would be to understand what their customers really wanted? And then build initial digital products based on that information and methodically expand offerings and customer from there.

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The global healthcare IT market is segmented on the basis of Business segments (Clinical solution (Hospital Information system (HIS), Laboratory Information System (LIS), Clinical Information system (CIS), Clinical Decision Support System (CDSS), Radiology Information Systems (RIS), Cardiovascular Information System (CVIS), Electronic Medical Records (EMR), Electronic Health Record (EHR), Picture Archiving & Communication System (PACS), Digital pathology system, Vendor Neutral Archive, E-Prescribing system, Telemedicine), Non-clinical solution (Revenue Cycle Management system, Work flow management system, Healthcare Information Exchange(HIE), Healthcare Analytics, Healthcare Business Intelligence)), Component (Software, Hardware, and Services), Mode of delivery (On-premise Model, Cloud-based Model and Web based model), End-User (Provider and Payer), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America).

The major market players in this market are GE Healthcare, Philips Healthcare, Siemens Healthcare, Wipro, Citius Tech, Cerner, IBM, Oracle, SAS, McKesson, etc. The primary stakeholders of this technology are healthcare IT firms, healthcare analytics vendors, care organizations, health insurance providers, healthcare payers, healthcare providers, and venture capitalists.

Key Deliverables in the Study
Market analysis for the Global Healthcare IT Market, with region specific assessments and competition analysis on global and regional scales

Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale

Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global healthcare IT market on both global and regional scales

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

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Some points from TOC:

1. Introduction
1.1. Study deliverables
1.2. Market Definition
1.3. Sizing Units
1.4. Base Currency
1.5. Review and forecast period years
1.6. General Study Assumptions
1.7 Report Description

2. Research Methodology
2.1. Introduction
2.2. Analysis Methodology
2.3. Econometric forecast models
2.4. Expert Validation
2.5. Study Timeline

3. Executive Summary

4. Key Inferences

5. Market Overview & Industry Trends
5.1. Current market scenario
5.2. Technology Overview
5.3. New developments
5.4. Investment analysis
5.5. Porters Five Force Analysis
5.5.1 Bargaining Power of suppliers
5.5.2 Bargaining power of buyers
5.5.3 Degree of competition
5.5.4 Threat of substitution
5.5.5 Threat of new entrants

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