Healthcare IT outsourcing is one of the common practices to cut down the operational costs of the market. IT mainly gains help from several government initiatives and regulations to underline the requirement for high-quality healthcare services and how its cost efficiency will benefit masses. One of the larger and promising trends in the global healthcare industry is to be the third-party IT outsourcing. In addition to this, the demand for outsourcing healthcare IT is expected to grow even more because of the growing need of cutting down the in-house healthcare IT costs. Furthermore, in recent years, there has been a substantial growth in terms of funding and investments to develop and strengthen the healthcare infrastructure. This too is helping the development of the global healthcare IT outsourcing market. Other factors such as increasing requirement for customer or patient satisfaction and enhanced productivity and easy availability of services at lower costs are also expected to drive the growth of the global healthcare IT outsourcing market.
There are however some factors that are projected to impede the development of the global healthcare IT outsourcing market and may stop it from reaching its full potential. One of the key restraining factors for market growth has been loss of trust among the end-users. This has happened because of constant loss of confidential data, cyber-attacks, and data breaches. Furthermore, unreliable service providers are further lowering the name of the market and limiting its development. There have been reports that suggest that cultural difference and language barriers may also create problems for the growth of the global healthcare IT outsourcing market.
Request for a sample:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9755
According to the research report published by Transparency Market Research, the global healthcare IT outsourcing market is expected to reach a valuation worth US$61.2 bn by the year 2024. The forecast period for the report on the global healthcare IT outsourcing market is 2015 to 2024. The market is expected to exhibit a healthy CAGR of 6.70% for the given period of forecast. The market was initially valued at US$34 bn in the year 2014.
Administration Segment to Account for Largest Share in Global Market
In terms of application, the global healthcare IT outsourcing market is divided into IT infrastructural services, administration, and care management. Of these, the segment of administration accounted for around 37% of the overall market share in the year 2014 and it projected to continue to dominate over the course of the given forecast period. There are multiple factors that are responsible for driving the growth of the administration segment of global healthcare IT outsourcing market. Some of the key driving factors are increasing patient pool and growing investments in the healthcare sector. This has resulted in increasing the number of administrative process in the healthcare sector and thus driving the growth of the segment. The segment accounted for around US$12.5 bn in 2014. By the end of the given forecast period in 2024, the segment will account for US$21.5 in valuation.
In terms of end use, the global healthcare IT outsourcing market is divided into healthcare payers and healthcare providers.
Ask for brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=9755
North America to Exhibit Promising Growth Rate
In terms of geographical segmentation, the global market for healthcare IT outsourcing is currently led by North America. The regional segment accounted for around 40% of the overall market share. The regional market was valued at US$13.4 bn in the year 2014 and will increase it upto US$21.2 bn by 2024. The regional segment is expected to exhibit a promising CAGR of 5.10% over the course of the given forecast period.
Some of the leading companies in the global healthcare IT outsourcing market are Accenture Plc, Cognizant Technology Solutions, Wipro Ltd., Tata Consultancy Services Ltd., and IBM Corp among others.
Read Our Latest Press Release:
