North American Healthcare IT Market by Product End User - Forecast to 2025

North American Healthcare IT Market by Product End User - Forecast to 2025

  • January 2020 •
  • 275 pages •
  • Report ID: 5842636 •
  • Format: PDF
North America healthcare IT market size to grow at a 16.4% CAGR
The North America healthcare IT market size is projected to reach USD 239.9 billion by 2025 from USD 96.3 billion in 2019, at a CAGR of 16.4%. There is a growing inclination across the globe towards the adoption of healthcare technologies due to the increasing need to deliver quality care to patients while curtailing escalating costs. These robust IT solutions are designed to streamline workflow in healthcare systems, reduce expenses, and facilitate compliance with stringent regulatory guidelines.

Based on products and services, the healthcare providers segment accounted for the largest share of the North America Healthcare IT market in 2018
Based on products and services, the market is segmented into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services.In 2019, the healthcare providers segment accounted for the largest share of the North America healthcare IT industry.

The need to control the increasing healthcare costs and improve the efficiency of services by reducing medical errors are the major drivers that are propelling the demand for healthcare provider solutions.

By components, the services segment accounted for the largest market share in 2018” Based on components, the North America healthcare IT market is segmented into services, software, and hardware.The services segment accounted for the largest market share in 2018.

This is due to the introduction of complex software, the need for integration and interoperability of software, and the growing demand for consulting and outsourcing of various healthcare processes such as revenue cycle management, EHR management, and fraud detection.
”By end user, the healthcare providers segment accounted for the largest share of the North America Healthcare IT market in 2018” Based on end-users, the market is segmented into healthcare providers and healthcare payers. In 2018, the healthcare providers segment accounted for the largest share of the North America healthcare IT industry. This is attributed to government initiatives to improve the quality of patient care and the need to control growing healthcare costs & improve the efficiency of healthcare services.

Breakdown of primary participants is as mentioned below:
• By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By Designation: C-level: 40%, Director-level: 35%, and Others: 25%
• By Region: US: 75%, Canada: 20%, Mexico: 5%

Prominent players in the North America healthcare IT market are Cerner Corporation (US), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), Change Healthcare (US), Optum (US), McKesson Corporation (US), Oracle Corporation (US), GE Healthcare (US), Siemens Healthineers (Germany), Philips Healthcare (Netherlands), Athenahealth, Inc. (US), Infor, Inc. (US), Cognizant (US), Dell Technologies (US), and CVS Health (US).

Research Coverage:
The report analyzes the North America healthcare IT market and aims at estimating the current size and future growth potential based on various segments, such as products & services, components, end-users, and region.It also covers competitive leadership mapping, which helps in analyzing the position of key market companies as visionary leaders, innovators, dynamic players, and emerging players.

The report also provides a competitive analysis of the leading players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on product portfolios offered by the top players in the North America healthcare IT market. The report analyzes this market by products and services, components, end-users, and region.
• Product Enhancement/Innovation: Detailed insights on upcoming trends and service launches in the North America healthcare IT industry.
• Market Development: Comprehensive information on the lucrative emerging markets by products and services, components, end-users, and region.
• Market Diversification: Exhaustive information about new testing services, recent developments, and investments in the North America healthcare IT industry.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, service offerings, and capabilities of leading players in the North America healthcare IT market.
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