Global COVID 19 Impact On Healthcare Information Technology Market Overview
Healthcare information technology is mainly associated with health and health care. It supports health information management across computerized systems and the secure exchange of health information between consumers, payers, providers, and quality market. Additionally, this technology is utilized to enhance patient care, also to communicate with doctors to share data about patient’s health and take actions that will improve quality of life. The global COVID-19 Impact on Healthcare Information Technology Market accounted for US$ 173.3 billion in 2019 and is estimated to be US$ 1470.5 billion by 2029 and is anticipated to register a CAGR of 23.5%.
Global COVID 19 Impact On Healthcare Information Technology Market Dynamics
Rising adoption of telemedicine
The COVID-19 crisis is offering lucrative opportunities for telehealth solutions, witnessing that social distancing is the only existing key developed so far capable of reducing exposure. In this regard, telemedicine characterizes an effective, attractive, and affordable option. Besides, this technology is of critical importance in monitoring healthcare providers and keeping them safe.
Further, growing cases of COVID-19, support and initiatives for HCIT solutions, high returns on investment for HCIT solutions, government mandates, the growing use of big data in healthcare, and the need to curtail escalating healthcare costs are also the factors primarily driving the growth of the target market.
However, concerns regarding data security and high costs of solutions, implementation, and infrastructure, are likely to limit the growth of this market.
Global COVID 19 Impact On Healthcare Information Technology Market Segmentation
The global COVID-19 impact on healthcare information technology market is segmented based on the product, end-user, and region.
On the basis of the product, the global COVID-19 impact on healthcare information technology market is segmented into high-impact products and low-impact products. Based on the end-user, the target market is segmented into healthcare providers, healthcare payers, and others.
In the region, the global COVID-19 Impact on healthcare information technology market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America estimated for maximum share of the global healthcare information technology industry, followed by Europe, owing to high number of positive COVID-19 cases and deaths in the US. Further, a robust healthcare system and IT infrastructure along with the presence of many large hospitals in the region also propels growth of the target market. Additionally, a huge number of prominent global players are based in the US, due to which the country can effortlessly manufacture these devices.
|
Attribute |
Details |
|
The base year for estimation |
2019 |
|
Forecast period |
2019 – 2029 |
|
Market representation |
Revenue in USD Million & CAGR from 2019 – 2029 |
|
Market Segmentation |
By Product - High-impact Products and Low-impact Products By End-user - Healthcare Providers, Healthcare Payers, and Others |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global COVID-19 impact on healthcare information technology market report based on product, end-user, and region.
Global COVID-19 Impact on Healthcare Information Technology Market, By Product:
- High-Impact Products
- Telehealth solutions
- Healthcare analytics solutions and artificial intelligence (AI) in healthcare
- Blockchain in healthcare
- Healthcare IoT
- Supply chain management solutions
- Practice management solutions
- ePrescription solutions
- mHealth Solutions
- HCIT outsourcing services
- Payer solutions
- Enterprise health records (EHR) systems
- Low-Impact Products
- Revenue cycle management (RCM) solutions
- Picture archiving and communication systems (PACS), and vendor-neutral archives (VNA)s
Global COVID-19 Impact on Healthcare Information Technology Market, By End-user:
- Healthcare Providers
- Healthcare Payers
- Other end users (Pharmaceutical and Biotechnology industry and Research Centers)
Global COVID-19 Impact on Healthcare Information Technology Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Global COVID 19 Impact On Healthcare Information Technology Market Key Players
The key players operating in the global COVID-19 impact on healthcare information technology market include Allscripts, Cerner, Cognizant, Change Healthcare, Epic Systems, Dell Technologies, Optum, and Philips Healthcare. Companies have undertaken several growth strategies, such as new service launches and partnerships, to improve their presence further in the COVID-19 impact on edge AI software market and expand their customer base. For instance, in April 2020, Cerner Corporation joined the list of multiple healthcare consortiums and technology companies that are collaborating on EHR-powered COVID-19 databases using de-identified patient data. Meanwhile, Cleveland Clinic also announced that it would dive into the EHRs of COVID-19 patients and use analytics to expedite research to find optimal treatment approaches, with the hope of uncovering the scientific mechanisms of how SARS-CoV-2 and other pathogens cause disease.
Global COVID 19 Impact On Healthcare Information Technology Market Key Issues Addressed
Key Issues Addressed
Global COVID 19 Impact On Healthcare Information Technology Market Company Profile
- Allscripts
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Cerner
- Cognizant
- Change Healthcare
- Epic Systems
- Dell Technologies
- Optum
- Philips Healthcare
“*” marked represents similar segmentation in other categories in the respective section
Global COVID 19 Impact On Healthcare Information Technology Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for COVID-19 Impact on Healthcare Information Technology Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product
- Market Snippet, By End-user
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global COVID-19 Impact on Healthcare Information Technology Market, By Product, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- High-impact Products
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Telehealth solutions
- Healthcare analytics solutions and artificial intelligence (AI) in healthcare
- Blockchain in healthcare
- Healthcare IoT
- Supply chain management solutions
- Practice management solutions
- ePrescription solutions
- mHealth Solutions
- HCIT outsourcing services
- Payer solutions
- Enterprise health records (EHR) systems
- Low-impact Products
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Revenue cycle management (RCM) solutions
- Picture archiving and communication systems (PACS), and vendor-neutral archives (VNA)s
- Overview
- Global COVID-19 Impact on Healthcare Information Technology Market, By End-user, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Healthcare Providers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Healthcare Payers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global COVID-19 Impact on Healthcare Information Technology Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product, 2019 – 2029
- Market Size and Forecast (US$ Mn), By End-user, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- Allscripts
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Cerner
- Cognizant
- Change Healthcare
- Epic Systems
- Dell Technologies
- Optum
- Philips Healthcare
- Allscripts
-
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global COVID-19 impact on the healthcare information technology market is segmented based on the product, end-user, and region.
The rising adoption of telemedicine is the major factor driving growth of the target market.
North America estimated for the maximum share of the global healthcare information technology industry, followed by Europe, owing to the high number of positive COVID-19 cases and deaths in the US.
Companies have undertaken several growth strategies, such as new service launches and partnerships, to improve their presence further in the COVID-19 impact on the edge AI software market and expand their customer base.