(I-BusinessNews.Com, April 08, 2021 ) According to the new market research report Healthcare IT Integration Market is projected to reach USD 6.0 billion by 2025 from USD 3.5 billion in 2020, at a CAGR of 11.4% during the forecast period.
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The prominent players in this market are Infor (US), InterSystems Corporation (US), Cerner Corporation (US), Orion Health (New Zealand), NextGen Healthcare Inc. (US), iNTERFACEWARE, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), GE Healthcare (US), IBM (US), Oracle Corporation (US), Capsule Technologies, Inc. (US), Koninklijke Philips (Netherlands), AVI-SPL, Inc. (US), Corepoint Health (US), and MEDITECH (US).
The increasing need for integration as a result of the rising healthcare costs and the growing volume of data generated in healthcare systems are the major factors driving the growth of this market.
By end user, the hospital segment is expected to grow at the highest CAGR during the forecast period.Â
Based on end-user, the healthcare IT integration market is segmented into hospitals, laboratories, clinics, diagnostic imaging centers, and other end users. Hospitals are expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the high purchasing power of hospitals to buy advanced healthcare IT integration solutions and the increasing focus on offering high-quality patient care through the use of HCIT solutions.
The services segment is expected to for the largest share of the healthcare integration market in 2019.
Based on product & service, the healthcare integration market is categorized mainly into products and services. In 2019, the services segment was expected to account for the largest share of the healthcare IT integration market. The large share of this segment can primarily be attributed to its indispensable nature. In addition to this, the rising need for simplifying workflows in healthcare organizations; the increasing demand for data standardization; and the growing need to build, design, and implement standardized, interoperable networking platforms are also driving the demand for healthcare IT integration services.
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Geographically, the global healthcare IT integration market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to account for the largest share of the healthcare integration market in 2019, followed by Europe. The large share of North America can be attributed to the high adoption of healthcare IT technologies, initiatives undertaken by the US Federal government towards improving patient care and reducing healthcare costs, and the growing need for the optimization of healthcare infrastructure.
Mr. Aashish Mehra
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Mr. Aashish Mehra