Healthcare IT Integration Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product & Services (Products (Interface/Integration Engines, Medica Device Integration Software, and Others) and Services (Implementation Services, Support & Maintenance Services, and Training Services)); End-Users (Hospitals, Clinics, Labs, and Others); and Region/Country
Global Healthcare IT Integration Market is expected to grow at a significant rate of around 10% during the forecast period. Healthcare IT integration is a partnership between the IT and healthcare industries that uses the most up-to-date IT tools to monitor people’s health, share secure electronic data, and offer affordable healthcare options. The data generated by the healthcare sector is enormous and the need to manage this data is dramatically increasing day by day. Every second, a huge amount of healthcare data is generated, and valuable insights are extracted from it. Currently, around 30% of the world’s data volume is being generated by the healthcare industry and it has been anticipated that by 2025, the compound annual growth rate of data for healthcare will reach 36%. Therefore, to minimize the medication error rate in this huge bunch of data and to reduce data management costs, many healthcare institutions are deploying IT solutions as a better alternative to physical document records. Thereby, boosting the healthcare IT integration market.
Cerner Corporation, Allscripts Healthcare Solutions Inc., Siemens Healthineers, IBM Corporation, GE Healthcare, Epic Systems Corporation, InterSystems Corporation, Corepoint Health LLC, Oracle Corporation, Athenahealth are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst products & services, interface/integration engines category to witness robust CAGR during the forecast period”
Based on product & services, the healthcare IT integration market is segmented into products and services. The products segment is further classified into interface/integration engines, medica device integration software, and others. Also, the services segment is also sub-segmented into implementation services, support & maintenance services, and training services. In 2020, interface/integration engines grabbed a considerable market share owing to the increasing need for information exchange within healthcare service provider facilities and with other affiliated organizations.
“Amongst end-users, the hospitals to hold a significant share in the market in 2020”
On the basis of end-users, the market is categorized into hospitals, clinics, labs, and others. Among these, the hospitals to hold a significant share in the market in 2020. This is mainly due to the growing focus of hospitals to deploy IT solutions and increasing the integration of EHRs into various hospital systems for enhancing their capabilities. Furthermore, the rising use of healthcare IT integration solutions in hospitals to maximize value-based reimbursements and the rise in the adoption of medical device integration solutions for reducing medical errors and improving quality of care are some of the other factors contributing to the growth of the segment.
“North America to hold a significant share in the market”
For a better understanding of the market adoption of the All-Terrain Vehicle industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the strong healthcare infrastructure and growing adoption of advanced technological solutions in the healthcare industry in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Healthcare IT Integration Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Healthcare IT Integration Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global healthcare IT integration Market were the three major steps undertaken to create and analyze the adoption of all-terrain vehicles in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global healthcare IT integration Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the healthcare IT integration Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Healthcare IT Integration Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product & service and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Healthcare IT Integration Market. Further, we conducted factor analysis using dependent and independent variables such as various products & services and end-users of healthcare IT integration. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Healthcare IT Integration Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Healthcare IT Integration Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Healthcare IT Integration Market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Healthcare IT Integration Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Healthcare IT Integration Market. Data was split into several segments & sub-segments post studying various parameters and trends in the product & service and end-users in the global Healthcare IT Integration Market.
The main objective of the Global Healthcare IT Integration Market Study
The current & future market trends of the global Healthcare IT Integration Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Healthcare IT Integration Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product & service and end-users
- Define and analysis of the regulatory framework for the Healthcare IT Integration
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Healthcare IT Integration Market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Healthcare IT Integration Market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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