IT Enabled Healthcare Market: Increased Efficiency, Accuracy and Access of healthcare IT Systems

IT enabled healthcare has emerged as an important component of the global digital ecosystem.  The advent of digital transformation has created new inlets for growth and advancements within the healthcare industry. The quest of healthcare planners to induct resilient technologies and systems to foster improved patient care has driven demand for IT enabled healthcare.

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Furthermore, several healthcare centers and groups have successfully implemented healthcare IT programs in recent times. Favourable healthcare outcomes have led researchers and planners to confide in healthcare IT. The next decade is expected to witness the emergence of several healthcare technologies based on digital transformation and ICT.

Electronic health record (EHR) is an important component of the healthcare IT ecosystem. Several hospitals have inducted EHR systems to improve operations at intrinsic and extrinsic levels. Moreover, medical practitioners and healthcare experts rely on the use of IT technologies that can fast-track processes.

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In the absence medical history of patients, it becomes difficult for doctors to furnish a comprehensive diagnosis. Therefore, use of EHR has helped in fostering accuracy and ease across the healthcare industry. In recent times, state planners have increased their budget for healthcare spending. This ensures availability of sufficient funds to develop seamless healthcare IT infrastructure.

Healthcare units are gradually transforming into digital centers that thrive on the use of ICT technologies. This trend, coupled with increased investments in digital technologies, has garnered the attention of healthcare planners. The next decade would be crucial in understanding the development graph of the healthcare sector.

Healthcare IT shall facilitate provision of e-health, remote monitoring, and patient care services. The US has led the world in terms of healthcare prowess by inducting premium IT technologies. This factor shall contribute towards popularising healthcare IT infrastructure across North America. Europe has also remained on top of its game in terms of healthcare IT deployment.

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This report aims to provide a comprehensive strategic analysis of the global IT-enabled healthcare market along with the market size and growth forecast of IT-enabled healthcare for the period from 2012 to 2024. A major factor driving the growth of IT-enabled healthcare market is the government initiatives mandating an efficient healthcare infrastructure. Numerous government policies across the world have generated a strong demand for IT enablement of national and district-level healthcare facilities. Moreover, inefficiencies of the traditional paper-based system such as incompleteness, redundancies and high costs led to unnecessary healthcare expenditures. IT-enabled healthcare offers a viable alternative to the traditional system in order to reduce healthcare costs and increase the efficiency and quality of healthcare services. The use of electronic medical records (EMRs) and other healthcare information systems ensures the continuity of healthcare services for the patients regardless of their geographical location. Other benefits offered IT-enabled healthcare solutions such as convenience during remote monitoring, home diagnosis and other mHealth solutions are also driving the growth in demand for IT-enabled healthcare.

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The research report on the IT-enabled healthcare market offers a detailed analysis of IT solutions being deployed across healthcare sector and aims to explain the driving forces behind the rise in demand for these systems in the healthcare industry. The report also provides an analysis of the various factors affecting market dynamics including market drivers, relevant restraints, and growth opportunities. These factors govern the existing market trends and their impact on the market is evaluated for the forecast period i.e. 2014 – 2024. The report includes a comprehensive coverage of the underlying economic and technological factors influencing the IT-enabled healthcare market. Furthermore, with the use of Porter’s five forces analysis and value chain analysis, the report aims to provide strategic insights into the supply chain of IT-enabled healthcare market. Market share analysis of key players in IT-enabled healthcare market sheds light on the prevailing competition in this market.

The report includes a comprehensive analysis of various market segments based on software, services and end-users. Moreover, an in-detail analysis of these segments across different geographical locations has been provided to help with the strategic decision making process. Various software solutions being deployed across healthcare sector include healthcare system applications and mHealth applications. Healthcare system applications comprise administrative information systems (AIS), clinical information systems (CIS), and ancillary information systems. Clinical information systems include electronic medical records (EMRs), nursing information system (NIS), and computer-aided diagnosis (CAD) among others. Ancillary information systems segment consists of pharmacy information systems and laboratory information systems.

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Services segment of IT-enabled healthcare market is categorized into tele-health and mHealth services offered globally. Tele-health services comprise healthcare diagnostics, remote patient monitoring, healthcare education and other services such as e-prescription and on-line support. mHealth services include solutions for patients and healthcare system strengthening services. The solutions for patients segment include wellness, monitoring services, diagnostic services, prevention services, treatment services, and information and reference services. Healthcare system strengthening services are further segmented into emergency response, healthcare practitioner support, and healthcare surveillance. The study provides a comprehensive assessment of various end-users including physicians, public/private healthcare institutions, healthcare workers, and individuals. The report aims to provide a comprehensive cross-sectional analysis of the software, hardware, and end-user segments of the IT-enabled healthcare market across geographies including North America, Europe, Asia Pacific, and the Rest of the World (RoW).

In addition, the report offers competitive profiling of the leading players in this industry and various business strategies adopted by them. The company profiles section in the report provides an overview of the companies, strategies followed to gain competitive advantage, annual revenues generated in the past few years, and recent developments. Companies profiled in this report include McKesson Corporation, Cerner Corporation, Koninklijke Philips N.V., GE Healthcare, Siemens AG, IMS Health Holdings Inc., Allscripts Healthcare Solutions Inc., eHealth Technologies, E*HealthLine.Com Inc., AirStrip Technologies LP, Aerotel Medical Systems Ltd., Johnson & Johnson Healthcare Systems Inc., AT&T Inc. and Apple Inc.

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