Healthcare IT Integration Market

Healthcare IT Integration Market Size, Share, Growth Analysis, By Product(Interface Engine, Medical Device Integration), By Service(Integration, Maintenance), By End User(Hospital, Laboratories) - Industry Forecast 2024-2031


Report ID: SQMIG35G2236 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 92 | Figures: 76

Healthcare IT Integration Market Dynamics

Healthcare IT Integration Market Driver

  • Increasing adoption of electronic health records (EHRs) along with other IT solutions will boost the market growth during the forecast period. Governments of countries such as Canada, Denmark, Sweden, France and the HITECH mandates incorporation of EHRs and EMRs to control rising healthcare costs and to improve patient care quality.
  • Furthermore, IT services aid in the integration of many end users throughout the healthcare system, such as hospitals, nursing care units, pharmacies, and medical insurance firms. However, for healthcare professionals to make successful decisions, this data must be integrated and made available in real-time. As a result of the expected market expansion of EHR systems in the next years, hospitals will place a significant emphasis on developing their capabilities by integrating multiple hospital systems with EHR, hence providing growth prospects for the healthcare IT integration market.

Healthcare IT Integration Market Restraint

●        Various health information systems create significant barriers to the successful adoption and use of healthcare IT solutions. Many nations lack defined IT standards for data storage and interchange, which causes interoperability problems. Despite the existence of numerous data storage, transit, and safety standards, adoption and integration of these interoperability standards are significant problems for healthcare providers and healthcare IT system suppliers. As there are no other health information systems that address all of the administrative, clinical, technological, and laboratory needs of big healthcare providers, interoperability and interoperability standards have become crucial.

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FAQs

Healthcare IT Integration Market size was valued at USD 3.4 billion in 2019 and is poised to grow from USD 3.82 billion in 2023 to USD 10.94 billion by 2031, growing at a CAGR of 12.4% in the forecast period (2024-2031).

The healthcare IT integration market is extremely competitive, with numerous large competitors. However, thanks to technical developments and product breakthroughs, mid-size to smaller businesses are expanding their market position by releasing new ingredients at lower rates. Companies like as Allscripts Healthcare Solutions Inc., Cerner Corporation, GE Healthcare, and IBM Corporation have a sizable market share. 'Allscripts Healthcare Solutions, Inc.', 'Cerner Corporation', 'Cisco Systems, Inc.', 'eClinicalWorks LLC', 'Epic Systems Corporation', 'GE Healthcare', 'IBM Corporation', 'Infor, Inc.', 'InterSystems Corporation', 'Koninklijke Philips N.V.', 'McKesson Corporation', 'Medtronic, Inc.', 'Microsoft Corporation', 'NextGen Healthcare, Inc.', 'NTT Data Corporation', 'Oracle Corporation', 'Siemens AG', 'Teradata Corporation', 'UnitedHealth Group Incorporated', 'Xerox Corporation'

Increasing adoption of electronic health records (EHRs) along with other IT solutions will boost the market growth during the forecast period. Governments of countries such as Canada, Denmark, Sweden, France and the HITECH mandates incorporation of EHRs and EMRs to control rising healthcare costs and to improve patient care quality.

The healthcare industry has begun to focus on combining AI and IoT technology to improve patient care. This improvement is anticipated to increase scalable treatments, digital patient experience, and medical device interoperability.

North America held the largest share of the healthcare IT integration market in 2021. Factors such as the widespread adoption of clinical device connectivity and interoperability solutions to reduce rising healthcare costs, stringent regulations and guidelines imposed by various government and non-government authorities such as the Federal Communications Commission (FCC) and the Centers for Medicare and Medicaid Services (CMS), etc. are propelling growth of the healthcare IT integration market in North America.

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Healthcare IT Integration Market

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