Description :
Healthcare Information Technology ( HCIT ) deals with creation , development , design , use , and maintenance of information systems for the healthcare industry . It is anticipated that the automated and interoperable healthcare information system could improve medical care by reducing healthcare costs , increase efficiency , decrease errors , increase patient satisfaction , and optimize reimbursement for ambulatory and inpatient healthcare providers .
The world HCIT market was valued at $ 125 billion in 2015 , and is estimated to reach $ 297 billion by 2022 , with a CAGR of 13.2 % over the forecast period . The growth in this market is driven by the increasing demand for patient safety and data accuracy , government regulations promoting the use of HCIT solutions , and the need to curtail healthcare expenditure . However , scarcity of skilled IT professional in healthcare industry & increasing concerns regarding the patient data safety & security are hindering the adoption of HCIT solution . Moreover , an increasing effect of the drivers over restraints is likely to reveal new market opportunities for key players offering HCIT related solutions and services .
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The HCIT markets in the Asia-Pacific and LAMEA regions is at their nascent stage , but is expected to grow at a significant CAGR during the forecast period , owing to the high economic growth and demand for better healthcare services . Moreover , increase in the number of pharmacies and other healthcare centers across the globe is expected to create new opportunities for the market players .
In this report , the world HCIT market is segmented based on product , end user , and geography . Based on product , the market is divided into healthcare provider solutions , healthcare payer solution , and HCIT outsourcing services . In 2015 , the healthcare provider solution segment held the largest share of world HCIT market , attributed to rising adoption of electronic health records ( EHRs ) and other hospital information systems by healthcare providers .
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The end users of the healthcare IT market include healthcare providers and healthcare payers . The healthcare providers segment is subsegmented into hospitals , ambulatory care centers , diagnostic and imaging centers , pharmacies , and others including home healthcare agencies , nursing homes , and assisted living centers ). The healthcare payers segment comprises private payers and public payers . Hospitals are the largest end user segment in the HCIT market , owing to the high demand for numerous HCIT solutions to manage huge patient data . Based on geography , the market is categorized into four regions , namely , North America , Europe , Asia-Pacific , and LAMEA . North America is anticipated to dominate the global market during the forecast period , due to the favorable policies by federal
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