Impact of Coronavirus (Covid-19) Pandemic on the Healthcare IT Industry

Adoption of data science and analytic techniques are key factors aiding healthcare providers in the early detection and treatment of healthcare conditions to safely deliver quality and lower-cost care. Considering the implication of social distancing measure, the footfall in clinics and health institutions has fallen by more than 70% in this pandemic. Owing to this, the adoption of digital health services has increased by three-fold. Healthcare IT Industry has witnessed paradigm shift in the adoption of healthcare IT solutions across the ecosystem including drug discovery, drug development, diagnostics, data management, marketing, and patient engagement. Artificial intelligence, electronic health record (EHR), revenue cycle management, reimbursement data management, and clinical data management solutions are being rapidly adopted by companies, including CROs, insurers, diagnostics, and research institutes for remote data monitoring. Coherent Market Insights anticipates favourable regulatory environment for digital health services post lockdown. Also, incentives and aggressive pricing structure from the healthcare IT solutions providers will further fuel the demand for these tech solutions across the value chain. The reports from Coherent Market Insights considers and evaluates the impact of the COVID-19, and anticipated change on the future outlook of this industry, by taking into the account the political, economic, social, and technological parameters.

Comparative Analysis - 1

Pre-Covid-19 Vs Post Covid-19 - Market Estimates, 2020 – 2021 (US$ Bn)

Healthcare IT
Source: Coherent Market Insights

Comparative Analysis - 2

Top Gainers Vs Top Losers

Marginal Growth
  • Clinical Systems
  • Payer Solutions & Services
Top Gainers
  • Telemedicine
  • Telehealth
Marginal Loss
  • EHR
  • CPOE systems
  • Lab Information Systems
  • Provider Solutions
Top Losers
  • PACS
  • Health and Process Management Systems
Source: Coherent Market Insights
Expected recovery : Q4 2020
Coherent Experts Corner
Kamrul Faruque
Kamrul Faruque

Principal Consultant Healthcare Research

Vaibhav Chandola
Vaibhav Chandola

Consultant Level 1 Healthcare Research

quote icon

  • Demand for digital solutions – telemedicine and telehealth is expected to increase significantly post pandemic. Healthcare centres are already analysing the benefit of this solutions for their use.
  • COVID-19 pandemic has emerged as an opportunistic platform for solution providers, may it be clinical, process, patient, payer, or provider related. We see a better growth post COVID-19 pandemic in the Healthcare IT industry.

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