(EMAILWIRE.COM, January 21, 2019 ) The Healthcare IT Market is projected to reach USD 280.25 Billion by 2021 from USD 134.25 Billion in 2016, at a CAGR of 15.9% during the forecast period.

The majority of the demand for healthcare IT solutions is driven by the growing need to reduce healthcare costs while adhering to the regulatory requirements set by government organizations for ensuring safety, security, and confidentiality of patient information. The growing adoption of health information exchanges (HIEs) and EHR systems and improved quality of care and clinical outcomes are some of the other factors driving market growth.

In addition to the growing demand for information technology solutions from healthcare providers, the growing need for healthcare insurance providers to efficiently manage a comprehensive record of claims and reimbursements is also expected to contribute to the growth of the global healthcare IT market during the forecast years.

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In this report, the global healthcare IT market is segmented on the basis of products & services, components, and end users. Based on products & services, the market is segmented into healthcare IT provider solutions, healthcare IT payer solutions, and healthcare IT outsourcing services. In 2015, the healthcare IT provider solutions segment accounted for the largest share of market. The healthcare IT provider solutions segment is further divided into clinical healthcare IT solutions and nonclinical healthcare IT solutions.

The clinical healthcare IT solutions segment accounted for the largest share of the healthcare IT provider solutions market in 2015. On the basis of components, the healthcare IT market is categorized into services, software, and hardware. The services segment accounted for the largest share of the market in 2015.

Furthermore, on the basis of end users, the market is segmented into healthcare providers and healthcare payers. The healthcare providers segment is further divided into hospitals; ambulatory care centers; diagnostic and imaging centers; and home healthcare agencies, nursing homes, and assisted living facilities whereas the healthcare payer segment is subsegmented into private payers and public payers.

Geographically, the global healthcare IT market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America, comprising the U.S. and Canada, accounted for the largest share of the global market in 2015. The large share of this region can be attributed to the stringent legislative and accreditation requirements regarding healthcare, the high adoption rate of HCIT technologies in order to curtail the soaring healthcare costs, regulatory requirements regarding patient safety, and the presence of a large number of IT companies in the region.

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However, the Asia-Pacific region is the fastest-growing market. Growing consumerism in the healthcare industry, accelerated economic growth of countries in the region, and the rising need to control the soaring healthcare costs are some of the key factors responsible for the emerging trend towards the digitization of patient records among healthcare organizations in this region.

Major players in the global healthcare IT market are McKesson Corporation (U.S.), Epic Systems Corporation (U.S.), Cerner Corporation (U.S.), GE Healthcare (U.S.), Philips Healthcare (Netherlands), athenahealth, Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), Oracle Corporation (U.S.), Cognizant Technology Solutions Corporation (U.S.), Dell Technologies (U.S.), Optum, Inc. (U.S.), and Infor, Inc. (U.S.).

Target Audience:

# Healthcare IT solution providers
# Healthcare IT vendors
# Healthcare IT service providers
# Healthcare payers
# Academic research institutes
# Government institutes
# Market research and consulting firms
# Venture capitalists and investors

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