HealthTech

Healthcare IT Integration Market Size Forecasted to be Worth USD 7.32 Billion in 2027

By Biswas Debanjan

Posted on November 11, 2021

The global healthcare IT integration market size is expected to reach USD 7.32 Billion in 2027 at a CAGR of 11.2% during the forecast period. Rising demand for remote patient monitoring and personalized care are key factors expected to drive revenue growth of market over the forecast period. Increasing need to reduce capital expenditures in healthcare industry through integration of advanced solutions and technologies is expected to further drive market growth during the forecast period.

Healthcare IT refers to the area of information technology that focuses on design, development, application, and regulation of information systems for healthcare industry. Increased incorporation of automated and interoperability solutions has enhanced medical care and public health, reduced costs, increased efficiency, and minimized errors to enhance patient satisfaction and outcomes. Increasing need to develop a centralized and integrated medical platform is another major factor expected to propel market growth over the forecast period.

Furthermore, increasing adoption of telehealth and e-health applications across healthcare sector to cater to increasing demand for remote patient monitoring are expected to further drive market growth over the forecast period. However, high costs associated with deployment and maintenance of IT integrated solutions and rising concerns regarding security of data are expected to restrain market growth to a certain extent over the forecast period.

Healthcare IT Integration

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Some Key Highlights in the Report:

Integration engine segment is expected to account for a significant revenue share in the global market and is expected to register a CAGR of 11.3% over the forecast period. Integrated engines enable streamlining of overall healthcare system, from interfaces to business processes.
The implementation segment is also expected to register significant revenue growth over the forecast period owing to increasing incorporation of medical device integration in healthcare sector.
Hospital integration segment is expected to account for largest revenue in the global market over the forecast period attributable to capability of healthcare IT integration to facilitate efficient remote patient monitoring and sharing precise and accurate patient data.
Hospitals segment is expected to account for a considerable revenue share in the global market during the forecast period owing to benefits offered by healthcare IT integration in hospital settings such as improved patient safety, streamlining operations, improved access to patient records, and minimal operating costs.
North America is expected to account for largest share in the global market over the forecast period owing to increasing penetration of telehealth services and increasing government spending on enhancing patient care and medical infrastructure in the region.
Major companies operating in the market Oracle Corporation, Allscripts Healthcare Solutions, Inc., NextGen Healthcare, Inc., Capsule Technologies, Inc., Tata Consultancy Services Ltd., CIOX Health LLC, Leidos Holdings, Inc., Nuance Communications, Inc., Dell Technologies Inc., and Cognizant Technology Solutions Corporation.
In December 2020, Leidos Holdings, Inc. announced its plans to acquire 1901 Group LLC. This acquisition is expected to strengthen Leidos’ role in digital modernization industry and bolster its capabilities to develop fast-paced markets of cloud and IT service.

For the purpose of this report, Emergen Research has segmented the global healthcare IT integration market on the basis of type, services, application, end-use, and region:

Type Outlook (Revenue, USD Billion; 2017–2027)