Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

IT-enabled healthcare involves use of Clinical Information Systems (CIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Aided Diagnosis (CAD), and other such software and systems.

Statistics:

The global IT-enabled healthcare market is estimated to account for US$ 464.73 Bn in terms of value by the end of 2027.

Global IT-enabled Healthcare Market: Drivers

Increasing prevalence of chronic disorders is expected to propel growth of the global IT-enabled healthcare market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, launch of IoT connected device platforms is also expected to aid in growth of the market. For instance, in June 2020, MedShift, a medical technology company, launched the new version of IoT connected device platform, 3.0, which provides an end-to-end solution for device manufacturers, integrating their purpose-built credit card-sized computer boards, with encrypted private cellular SIM capabilities, into any medical device line up.  

Statistics:

North America held dominant position in the global IT-enabled healthcare market in 2019, accounting for 39.0% share in terms of value, followed by Europe and Asia Pacific, respectively.

Figure 1: Global IT-enabled Healthcare Market Share (%) Value, By Region, 2019

IT-enabled Healthcare  | Coherent Market Insights

Global IT-enabled Healthcare Market: Restraints

Low adoption of internet in emerging economies is expected to hinder growth of the market. For instance, according to Pew Research Center (October 2019), Sub-Saharan Africa has a lower level of internet use than any other geographic region, ranging from a high of 59% in South Africa to a low of 25% in Tanzania.

Moreover, high cost of Picture Archiving and Communication System (PACS) and Radiology Information System (RIS) is also expected to limit growth of the market. For instance, conventional PACS systems can cost around US$ 5,000 to US$ 100,000.

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IT-enabled Healthcare Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 187.7 Bn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 12.0% 2027 Value Projection: US$ 464.7 Bn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., France, Spain, Italy, Russia, Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: North Africa, Central Africa, South Africa
Segments covered:
  • By Type:
    • Software: Administrative Information Systems (AIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Assisted Diagnosis (CAD), Ancillary Information Systems, Others.
    • Services: Tele-Health, Healthcare Diagnostics, Remote Patient Monitoring, Healthcare Education, mHealth.
  • By End User: Public/Private healthcare institutions, Physicians, Healthcare workers, Others.
Companies covered:

McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., Allscripts Healthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP.

Growth Drivers:
  • Increasing prevalence of chronic disorders
Restraints & Challenges:
  • High Cost associated with Picture Archiving and Communication System (PACS) and Radiology Information System (RIS)

Global IT-enabled Healthcare Market: Opportunities 

Increasing adoption of cloud-based PACS is expected to offer lucrative growth opportunities for players in the global IT-enabled healthcare market. Cloud-based PACS offers several benefits such as on-demand self-service, broad network access, resource pooling, rapid elasticity, and measured service.

Moreover, increasing penetration of internet is also expected to aid in growth of the market. For instance, according to China government-backed Market Intelligence & Consulting Institute and reported by China Internet Watch, internet penetration in China reached 61.2 percent in the first half of 2019, with 854 million internet users at the end of June 2019.   

Statistics:

The global it-enabled healthcare market was valued at US$ 187.7 Bn in 2019 and is forecast to reach a value of US$ 464.7 Bn by 2027 at a CAGR of 12.0% between 2020 and 2027.

Figure 2: Global IT-enabled Healthcare Market Value (US$ Bn), 2016 – 2027

IT-enabled Healthcare  | Coherent Market Insights

Market Trends/Key Takeaways

Emergence of novel coronavirus is boosting growth of the market. For instance, globally, as of 4:03pm CEST, 30 June 2020, there have been 10,185,374 confirmed cases of COVID-19, including 503,862 deaths, reported to World Health Organization.

Moreover, launch of pharmacy automation systems is also expected to aid in growth of the market. For instance, in February 2018, RxSafe, LLC launched RapidPakRx system, a new automated strip packaging system for retail and health system pharmacies that enables on-demand adherence packaging production

Global IT-enabled Healthcare Market: Competitive Landscape

Major players operating in the global IT-enabled healthcare market include, McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., Allscripts Healthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP.

Global IT-enabled Healthcare Market: Key Developments

Major players in the market are focused on adopting collaboration strategies to enhance their market share. For instance, in April 2020, Sectra, a medical imaging IT and cybersecurity company, collaborated with Hospital for Special Surgery, an academic medical center focused on musculoskeletal health, to integrate FDA approved digital pathology imaging solution with laboratory information system for integrated diagnostics capabilities between radiology and pathology.

Similarly, in April 2020, Wellbeing Software collaborated with Behold.ai, through which the Behold.ai’s artificial intelligence-based red dot algorithm will be used with Wellbeing Software’s Cris, a RIS, for fast-track diagnosis of COVID-19 in U.K.

IT-enabled Healthcare systems such as Clinical Information Systems (CIS), Electronic Medical Record (EMR), Nursing Information Systems (NIS), Computer Aided Diagnosis (CAD), and other such software and systems are used to provide services such as tele-health, healthcare diagnostics, remote patient monitoring, healthcare education and others. Increasing prevalence of chronic disorders, along with increasing launch of IoT connected device, and increasing adoption of cloud-based PACS is expected to propel growth of the global IT-enabled healthcare market over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the Global IT-enabled Healthcare market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Global IT-enabled Healthcare market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., Allscripts Healthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Global IT-enabled Healthcare market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global IT-enabled Healthcare market

Detailed Segmentation:

  • Global IT-enabled Healthcare Market, By Type:
    • Software
      • Administrative Information Systems (AIS)
      • Electronic Medical Record (EMR)
      • Nursing Information Systems (NIS)
      • Computer Assisted Diagnosis (CAD)
      • Ancillary Information Systems
    • Services
      • Tele-Health
      • Healthcare Diagnostics
      • Remote Patient Monitoring
      • Healthcare Education
      • mHealth
  • Global IT-enabled Healthcare Market, By End User:
    • Public/Private healthcare institutions
    • Physicians
    • Healthcare workers
    • Others
  • Global IT-enabled Healthcare Market, By Region:
    • North America
      • By Type:
        • Software
          • Administrative Information Systems (AIS)
          • Electronic Medical Record (EMR)
          • Nursing Information Systems (NIS)
          • Computer Assisted Diagnosis (CAD)
          • Ancillary Information Systems
          • Others
        • Services
          • Tele-Health
          • Healthcare Diagnostics
          • Remote Patient Monitoring
          • Healthcare Education
          • mHealth
      • By End User
        • Public/Private healthcare institutions
        • Physicians
        • Healthcare workers
        • Others
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Type:
        • Software
          • Administrative Information Systems (AIS)
          • Electronic Medical Record (EMR)
          • Nursing Information Systems (NIS)
          • Computer Assisted Diagnosis (CAD)
          • Ancillary Information Systems
          • Others
        • Services
          • Tele-Health
          • Healthcare Diagnostics
          • Remote Patient Monitoring
          • Healthcare Education
          • mHealth
      • By End User
        • Public/Private healthcare institutions
        • Physicians
        • Healthcare workers
        • Others
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Type:
        • Software
          • Administrative Information Systems (AIS)
          • Electronic Medical Record (EMR)
          • Nursing Information Systems (NIS)
          • Computer Assisted Diagnosis (CAD)
          • Ancillary Information Systems
          • Others
        • Services
          • Tele-Health
          • Healthcare Diagnostics
          • Remote Patient Monitoring
          • Healthcare Education
          • mHealth
      • By End User
        • Public/Private healthcare institutions
        • Physicians
        • Healthcare workers
        • Others
      • By Country
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type:
        • Software
          • Administrative Information Systems (AIS)
          • Electronic Medical Record (EMR)
          • Nursing Information Systems (NIS)
          • Computer Assisted Diagnosis (CAD)
          • Ancillary Information Systems
          • Others
        • Services
          • Tele-Health
          • Healthcare Diagnostics
          • Remote Patient Monitoring
          • Healthcare Education
          • mHealth
      • By End User
        • Public/Private healthcare institutions
        • Physicians
        • Healthcare workers
        • Others
      • By Country
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Type:
        • Software
          • Administrative Information Systems (AIS)
          • Electronic Medical Record (EMR)
          • Nursing Information Systems (NIS)
          • Computer Assisted Diagnosis (CAD)
          • Ancillary Information Systems
          • Others
        • Services
          • Tele-Health
          • Healthcare Diagnostics
          • Remote Patient Monitoring
          • Healthcare Education
          • mHealth
      • By End User
        • Public/Private healthcare institutions
        • Physicians
        • Healthcare workers
        • Others
      • By Country
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Type:
        • Software
          • Administrative Information Systems (AIS)
          • Electronic Medical Record (EMR)
          • Nursing Information Systems (NIS)
          • Computer Assisted Diagnosis (CAD)
          • Ancillary Information Systems
          • Others
        • Services
          • Tele-Health
          • Healthcare Diagnostics
          • Remote Patient Monitoring
          • Healthcare Education
          • mHealth
      • By End User
        • Public/Private healthcare institutions
        • Physicians
        • Healthcare workers
        • Others
      • By Country
        • North Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • McKesson Corporation *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • eHealth Technologies
    • GE Healthcare
    • Johnson and Johnson Healthcare Systems, Inc.
    • Aerotel Medical Systems, Ltd.
    • Siemens AG
    • E*HealthLine.Com, Inc.
    • Allscripts Healthcare Solutions, Inc.
    • AT&T Inc.
    • Apple, Inc.
    • MedShift
    • RxSafe, LLC
    • Sectra
    • Wellbeing Software
    • AirStrip Technologies LP.
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By End User
      • Market Snippet, By Country
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
    • COVID19 Impact on Market
  4. Global IT-enabled Healthcare Market, By Type, 2019 – 2027, (US$ Bn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Software
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
        • Administrative Information Systems (AIS)
        • Electronic Medical Record (EMR)
        • Nursing Information Systems (NIS)
        • Computer Assisted Diagnosis (CAD)
        • Ancillary Information Systems
        • Others
    • Services
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
        • Tele-Health
        • Healthcare Diagnostics
        • Remote Patient Monitoring
        • Healthcare Education
        • mHealth
  5. Global IT-enabled Healthcare Market, By End User, 2019 – 2027, (US$ Bn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Public/Private healthcare institutions
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
    • Physicians
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
    • Healthcare workers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Bn)
  6. Global IT-enabled Healthcare Market, By Region, 2019 – 2027, (US$ Bn)
    • Introduction
      • Market Share Analysis, By Region, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • Germany
        • U.K.
        • France
        • Spain
        • Italy
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Type, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Bn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Bn)
        • North Africa
        • Central Africa
        • South Africa
  7. Competitive Landscape
    • Company Profiles
      • McKesson Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • eHealth Technologies
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Johnson and Johnson Healthcare Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Aerotel Medical Systems, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Siemens AG
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • E*HealthLine.Com, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Allscripts Healthcare Solutions, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Allscripts Healthcare Solutions, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • AT&T Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Apple, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • MedShift
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • RxSafe, LLC
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sectra
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Wellbeing Software
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • AirStrip Technologies LP
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 14 figures on “IT-enabled Healthcare Market - Global forecast to 2027”.

Frequently Asked Questions

The Global IT-enabled Healthcare market size was valued at US$ 187.7 billion in 2019 and is estimated to exhibit a CAGR of 12.0% between 2020 and 2027.
eHealth Software segment held the major market share in 2019 owing to an increasing prevalence of chronic disorders is expected to propel growth of the market.
Major factor driving the growth of Global IT-enabled Healthcare market during the forecast period increasing prevalence of chronic disorders, increasing research & development , and adoption of expansion strategies from major companies.
Major factors hampering the growth of the Global IT-enabled Healthcare market during the forecast period constitutes of high cost of Picture Archiving and Communication System (PACS) and Radiology Information System (RIS).
North America market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, E*HealthLine.Com, Inc., Allscripts Healthcare Solutions, Inc., AT&T Inc., Apple, Inc., MedShift, RxSafe, LLC, Sectra, Wellbeing Software, and AirStrip Technologies LP.
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