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IT-enabled healthcare findsapplication in tele-health, healthcare diagnostics, remote patient monitoring,healthcare education and others.
Statistics:
The global IT-EnabledHealthcare Market is estimated to account for US$ 464.7 Bn in terms ofvalue by the end of 2027.
Global IT-enabled HealthcareMarket: Drivers
Increasing launch ofcomputer-assisted physician solutions is expected to propel growth of theglobal IT-enabled healthcare market over the forecast period. For instance, inJanuary 2020, Nuance Communications Inc. launched Nuance Cardiovascular CAPD, acomputer-assisted physician documentation (CAPD) solution designed to helpcardiologists improve the quality of complex documentation and the accuracy ofreimbursement for cardiac catheterization procedures.
Global IT-enabled HealthcareMarket: Opportunities
Increasing adoption of RIS inpublic hospitals is expected to offer lucrative growth opportunities forplayers in the global IT-enabled healthcare market. For instance, in March2020, NHS Nightingale, a hospital run by Barts Health NHS Trust, announced toadopt Cerner Corporation’s electronic patient record (EPR) and the Sectra RIS andCliniSys pathology software.
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Global IT-enabled HealthcareMarket: Restraints
Concerns regarding data safety isexpected to hinder growth of the market. For instance, according to Kaspersky,smart DDoS attacks that were focused on the application layer increased by 73%in Q3 2019 compared to those in Q4 2019.
Key Takeaways:
The global IT-enabled healthcaremarket was valued at US$ 187.7 Bn in 2019 and is forecast to reach a value ofUS$ 464.7 Bn by 2027 at a CAGR of 12.0% between 2020 and 2027. Increasinglaunch of new and advance healthcare software solutions is expected to propelgrowth of the global IT-enabled healthcare market over the forecast period.
Software segment held dominantposition in the global IT-enabled healthcare market in 2019, accounting for69.6% share in terms of value. Increasing adoption of cloud-based PACS isexpected to drive the segment growth during the forecasted period.
Market Trends
Launch of mobile apps thatintegrate with RIS and PACS is expected to aid in growth of the market. Forinstance, in April 2020, MedInformatix, a health IT company, launched Wait inCar, a new mobile-friendly application that allows patients to wait in thesafety of their automobiles for assigned medical appointments. The appintegrates with RIS platforms and electronic health record (EHR) to provide theservice.
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Adoption of order communicationsystem and EMRs is high among physicians. For instance, in June 2019,researchers from Korean Medical Association, South Korea, reported that around68% of the self-employed physicians adopted the Order Communication System andEMRs, while only one-third adopted PACS.
Global IT-enabled HealthcareMarket: Competitive Landscape
Major players operating in theglobal IT-enabled healthcare market include, McKesson Corporation, eHealthTechnologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc.,Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., AllscriptsHealthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC,Sectra, Wellbeing Software, and AirStrip Technologies LP.
Global IT-enabled HealthcareMarket: Key Developments
March 2020: Sectra signed acontract with Region Halland, a Sweden-based healthcare provider, to deliverits RIS as a cloud service
September 2019: eRAD demonstratedits EHR-Certified RIS, PACS Evolution, and other product portfolios at RSNA2019
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