Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 38.62 Billion | USD 161.12 Billion | 15.5% | 2024 |
The global IT-enabled healthcare market size was worth around USD 38.62 Billion in 2024 and is predicted to grow to around USD 161.12 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 15.5% between 2025 and 2034.
The report analyzes the global IT-enabled healthcare market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the IT-enabled healthcare industry.
IT-enabled healthcare, also known as medical information technology, is a subset of information technology that deals with developing, designing, creating, and maintaining information systems in hospitals, clinics, and other healthcare facilities. Healthcare IT has multiple benefits and possibilities for improving and transforming healthcare, including improving clinical outcomes, minimizing human error, improving clinical efficiency, facilitating care coordination, and long-term data monitoring.
Due to a large number of smartphone users and the increasing penetration of technology, the demand for telemedicine and mHealth solutions is increasing. Favorable government policies and support for medical IT solutions are driving the market growth. Big data adoption is increasing with the growing need to reduce rising medical costs along with increasing adoption of EHR and other HCIT solutions. On the other hand, the high deployment costs of IT-assisted healthcare and the lack of adequate infrastructure in developing countries can hinder market growth.
Increase in demand for quality healthcare services and solutions to drive market growth
Increasing adoption of mHealth & telemedicine, increasing demand for improved patient safety & patient care, and increasing government initiatives to promote HCIT are driving growth in the global IT-enabled healthcare market. Protecting patient data has become a major challenge for healthcare companies as the rise in cyberattacks, the biggest obstacle to the global market raises concerns about the safety and security of patient data. Increased investment in the Asia Pacific region offers huge market potential and boosts growth opportunities for the market.
Lack of appropriate infrastructure to hinder market expansion
The high deployment costs of IT-enabled healthcare and the lack of adequate infrastructure in developing countries can hinder market growth. In addition, data security concerns are expected to further impede market growth.
The global IT-enabled healthcare market is segregated on the basis of type, end-user, and region.
By type, the market is divided into software and services. Among these, the software segment dominates the market expansion in the coming years. This is majorly due to increased demand for cloud-based software across industries.
By end-user market is segmented into public/private healthcare institutions, physicians, healthcare workers, and others. Over the forecast period, the Public/Private healthcare institutions' digital remittance market is expected to develop at the fastest rate owing to the high demand for a large number of HCIT solutions to meet the increasing burden of managing patient information in hospitals. In addition, the rising prevalence of chronic diseases has paved the way for the growth of the global IT-enabled healthcare market.
Report Attributes | Report Details |
---|---|
Report Name | IT-enabled Healthcare Market |
Market Size in 2024 | USD 38.62 Billion |
Market Forecast in 2034 | USD 161.12 Billion |
Growth Rate | CAGR of 15.5% |
Number of Pages | 248 |
Key Companies Covered | McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com Inc., Allscripts Healthcare Solutions Inc., AT&T Inc., Apple Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP., and others. |
Segments Covered | By Type, By End-User, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2023 |
Forecast Year | 2025 - 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The existence of modern infrastructure and the early adoption of several technological advancements to drive growth in North America
North America has emerged as a major region in the global IT-enabled healthcare market due to its modern infrastructure, intelligent workforce, and early adoption of multiple technological advances. Market growth in the region is also expected to benefit from the region's ever-increasing elderly population. The European market has reached a mature stage with the early acceptance and delivery of IT-assisted healthcare services to improve services and processes.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the IT-enabled healthcare market on a global and regional basis.
The global IT-enabled healthcare market is dominated by players like:
By Type
By End-User
By Region
FrequentlyAsked Questions
Leading players in the global IT-enabled healthcare market include McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com Inc., Allscripts Healthcare Solutions Inc., AT&T Inc., Apple Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP., among others.
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