Healthcare Information Technology (IT) & Intelligence Market Size Estimated to Touch USD 1,636.52 Billion By 2030

Healthcare IT Market

According to the research report published by Polaris Market Research, the global healthcare IT market size & share was valued at USD 318.42 Billion in 2021 and is expected to reach USD 1,636.52 Billion by 2030, growing at a CAGR of 21.6% during the forecast period.

The increasing number of medical operations, increased knowledge about the advantages of automated aided medical operations, and a rising number of traffic incidents are among the factors expected to increase the adoption of information technology solutions in the medical industry over the forecast period. Furthermore, lower operating costs, decreased medical mistakes, and improved clinical results are among other factors expected to follow the growing trend.

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Furthermore, the medical information technology market is seeing continuous expansion, which is primarily driven by ongoing technological innovation, the growing requirement to manage client information on a unified network, and the provision of higher-quality health care to patients. Moreover, the increasing prevalence of chronic diseases such as diabetes and heart illnesses worldwide due to improper living is expected to propel market demand in the coming years.

Software component segment is expected to grow at the fastest pace throughout the forecast period. This is due to the rising market demand for specialized solutions for suppliers, a high deployment rate among payers and providers, and greater worldwide awareness of the usage of interoperable technologies.

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Regional Analysis

North America is expected to dominate the market during the forecast period due to the presence of significant players such as Cognizant Technology Solutions and Oracle Corporation. Furthermore, increasing government initiatives to improve treatment quality is expected to contribute to the rising trends. Asia Pacific is anticipated to hold a significant share over the projected period due to the increasing prevalence of chronic illnesses in the older population along with rapid infrastructural development in emerging economies such as India and China.

Top Market Players Are:

Major market players include 3M, Allscripts Healthcare Solutions, Inc., Afga Gevaert Group, Athenahealth, Inc., Cognizant, Carestream Health, Conifer Health, eClinicalworks, GE Healthcare, Dell Technologies, Tata Consultancy Services, Hewlett-Packard Enterprise, Inter Systems, IBM, Mckesson Corporation, Nuance, Novarad Corporation, Oracle Corporation., Orion Health, SAS Institute, and Wipro Limited.

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