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

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).

Over the projection period, it is anticipated that the global market for healthcare IT integration would expand. Due to the expanding amount of data produced by healthcare systems, rising healthcare costs, and the desire to improve the efficacy of present medical practises, the market is primarily driven by the need to create a unified platform for patient data. Additionally, the need to increase patient safety and supportive government programmes for healthcare IT integration will contribute to the market's expansion throughout the course of the forecasted years.

Due to its role in facilitating a quicker and safer flow of patient data to healthcare providers, medical device integration held the greatest market share in 2019. One connectivity technology that assists in facilitating unified interoperability between healthcare applications, EHRs, and medical devices is Cerner's CareAware.

Due to its role in connecting operational, clinical, and financial data across the health care IT ecosystem, the medical device integration market is anticipated to expand over the course of the projected period. Additionally, the market's players are seeing significant possibilities for growth due to the expanding global adoption of clinical and non-clinical healthcare IT integration, the expansion of patient monitoring, and the availability of telehealth services.

Over the forecast period, there will be significant development potential due to the growing emphasis on providing quality-driven patient care through the use of HCIT solutions, as well as the growing acceptance of artificial intelligence and machine learning in hospital settings. Companies are pursuing organic and inorganic strategies, like merger and partnership, to maintain their dominant position in the healthcare IT integration market. For instance, in order to finish an integrated financial and clinical platform, Heritage Valley Health System joined with Allscripts Healthcare Solutions Inc. in February 2019. Through this partnership, Allscripts solutions will be made available to hospitals, physician offices, and outpatient facilities.

US Healthcare IT Integration Market  is poised to grow at a sustainable CAGR for the next forecast year.