Healthcare IT : Global Trends, Facts and Figures

Overview

In recent years, the healthcare IT market has been expanding due to digital technologies in healthcare services. Health IT changes the way people experience medical services around the globe, concentrating more on efficiency, data security, and patient outcomes.

The global healthcare IT market was valued at nearly $300 billion in 2023 and is anticipated to increase at a CAGR of 15% from 2024 to 2030, eventually achieving about $800 billion by 2030. Advanced technologies, rising healthcare expenditures, rapidly digitized data, and governmental incentives for IT adoption in healthcare facilities propel the growth.

Industry Trends

1. AI & Machine Learning Expansion: Improving diagnostics, therapy schedules, and administrative automation.
2. Cloud Computing: Wider adoption increases storage in the safety of data and compatibility of varied systems.
3. Increase in Remote Patient Monitoring (RPM): Enabling real-time health monitoring and anticipating care.
4. Blockchain: Patient data security, integrity, and improved security.
5. Increased demand for personalized medicine: Leverages genomics data and AI for individualized treatments.
6. IoT integration in healthcare: medical device connectivity and a real-time view of patients' conditions.
7. 5G and Edge Computing in Health Care: Ensuring faster data transmission in real-time for critical applications.

Facts & Insights

AI in Healthcare: The AI healthcare market is projected to touch $200 billion by 2030 on account of its potential for optimizing diagnostics and patient care.
Growth of Telemedicine: The post-pandemic period has seen a surge of about 500% in telehealth services, which shows patient eagerness toward market uptake.
Exposure of Data Breaches: Almost 50 million healthcare records were breached around 2023, and this event catalyzed an increased need for cybersecurity solutions.
Blockchain in Healthcare: Expected to become a 10 billion dollar market by 2030, it promises safe management of patient data.
Wearable Health Tech: Thee global wearable medical devices market is expected to surpass $100 billion by 2028.

Market Segment

By component: software, hardware, and services.
By Application : EHRs, patient engagement, clinical decision support, telehealth.
By end-users: hospitals, pharmacies, insurance companies, and research institutions.
By Deployment : On-premise, cloud-based, hybrid.
By Region : North America, Europe, Asia-Pacific, Latin America, Middle East & Africa

Industry Leader

1. Cerner Corporation provides solutions for population health management.
2. Epic Systems: or a supplier of EHR software to hospitals.
3. McKesson Corporation: healthcare software and analytics solutions, along with supply chain solutions.
4. Allscripts Healthcare Solutions Contains: Containsactice management software.
5. Siemens Healthineers: Medical Medicalnd AI diagnostics.
6. GE Healthcare—Digital—Digital solutions for patient monitoring and radiology.
7. IBM Watson Health—Predictive—Predictive health and analytics powered by artificial intelligence.
8. Philips Healthcare: Telehealth, imaging, and healthcare informatics.