Healthcare Insights

Healthcare IT Market Size Analysis till 2033

Healthcare Insights

The global healthcare IT market size was estimated at around USD 199.53 billion in 2023 and it is projected to hit around USD 1111.68 billion by 2033, growing at a CAGR of 18.74% from 2024 to 2033.

Key Pointers

Healthcare IT Market Overview

The healthcare information technology (IT) market has witnessed significant growth in recent years, driven by the increasing integration of technology in the healthcare sector. As healthcare organizations strive to enhance patient care, optimize operational efficiency, and comply with regulatory requirements, the adoption of IT solutions has become crucial. This overview explores key facets of the healthcare IT market, shedding light on its current landscape and future prospects.

Get a Sample: https://www.visionresearchreports.com/report/sample/41127

Healthcare IT Market Dynamics

Drivers 

Restraints 

Opportunities 

Application Insights

The tele-healthcare segment dominated the market with a revenue share of 59% in 2023. This growth can be attributed to increasing demand for streamlined electronic healthcare systems, advancements in healthcare IT, and the need for technology-integrated tools. The segment is further divided into tele-care and telehealth. The increasing health consciousness, rising demand for cost-effective care, and growing geriatric population are other key factors contributing to this segment’s growth.

For instance, Independa, a TV-based platform specializing in remote engagement, care, and education, conducted a survey in November 2022 to examine smart TV users’ behavior & attitude toward telehealth. Findings released in March 2023 revealed that over 90% of Americans had utilized telehealth services in the past year, with a satisfaction rate of 90%. These services included doctor’s appointments, tele-dentistry, and vision appointments. The survey also highlighted the significance of increased smartphone penetration, as 71% of users accessed telehealth services using their smartphones. These findings indicate a growing awareness and positive reception of telehealth, which is expected to drive market growth, as telehealth adoption continues to rise during the forecast period.

The electronic prescribing system segment is anticipated to experience the fastest CAGR of 26.85% from 2024 to 2033. An increase in awareness of the advantages of e-prescribing is fueling the adoption of e-prescribing systems. In a study titled “Perception of physicians towards electronic prescription systems and associated factors at resource-limited settings” published in PLOS ONE in March 2021, survey participants expressed positive perceptions of electronic prescriptions, with 76.5% showing a favorable attitude. Approximately 70.8% of participants had over 5 years of computer usage experience. The study also revealed that nearly 90% of participants considered their electronic prescriptions to be legible.

The medical imaging information systems segment is sub-segmented into monitoring analysis software, radiology information systems, and picture archiving and communication systems (PACS). Factors such as an increasing need for streamlining healthcare operations, awareness of application of these systems in tracking billing information and orders of radiology imaging, and a growing prevalence of chronic diseases globally are significantly contributing to the overall growth of the medical imaging information systems segment.

Regional Insights

North America held the largest revenue share of 49% in 2023. This growth is fueled by extensive adoption of healthcare IT solutions and services, especially in the U.S., as providers strive to enhance patient care while reducing costs. Adoption of healthcare IT solutions varies among providers due to various factors. A case in point is the high adoption of Electronic Health Records (EHR) in Oregon, where healthcare providers demonstrate varying adoption rates influenced by distinct digital divisions. The increase in adoption of electronic health records is increasing significantly in the U.S. As per Health IT reports, until 2021, nearly 9 out of 10 U.S.-based physicians had adopted EHR. Thus, high adoption rates also play a crucial role in boosting market growth.

Asia Pacific is anticipated to grow at the fastest CAGR of 22.84% from 2024 to 2033, attributed to the high demand for healthcare information technology services, owing to increased government spending on healthcare. Furthermore, the demand for healthcare IT systems has been increasing, as it enables efficient management of clinical, financial, and administrative aspects of hospitals.

Several government initiatives and supportive programs are also boosting the adoption of such technologies. For instance, in Australia, state as well as federal governments support healthcare IT. State-level programs, such as HealthSmart, and nationwide programs, such as HealthConnect, are examples of government programs undertaken to increase the integration of IT in healthcare. South Africa is also focusing on the development of fully integrated health record systems via its careconnect.sa program. Such initiatives and policies in various nations are supporting the regional market growth, and creating business opportunities for the new entrants.

Read More: https://www.heathcareinsights.com/orthopedic-contract-manufacturing-market/

Key Companies:

Healthcare IT Market Segmentations:

By Application

By Region

Buy this Premium Research Report@ https://www.visionresearchreports.com/report/checkout/41127

You can place an order or ask any questions, please feel free to contact sales@visionresearchreports.com| +1 650-460-3308

Blog: https://www.novaoneadvisor.com/

Web: https://www.visionresearchreports.com/

Exit mobile version