Healthcare Information Technology Services Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024

The healthcare industry is witnessing rapid technology enabled changes. Doctors and Physicians are leveraging digital technology to deliver better healthcare services and create effective system across the healthcare value chain. Healthcare information technology is expected to grow at a robust rate during the forecast period creating substantial opportunity for players across world. Emergence of various lifestyle and therapeutic application based apps has also boosted the market. Though the industry is expected to witness upward trajectories, industry leaders might face stiff competition from new entrants as well as changing technology dynamically. The industry leaders need to keep abreast with technology to differentiate them from rest.

At present, the information technology has become an integral part of the healthcare settings or infrastructures as it help address the requirements of today and be prepared for tomorrow. Modern high-tech hospitals and other healthcare settings make available a unified matrix of patient records, imaging results as well as his medical history and related information. The healthcare (HC) IT services, which is provided by a range of global HC solution and service providers help furnish the right information at the right place at the right time. Therefore, healthcare information technology solutions and services help enable improved patient care with superior hospital management.

Process Execution and emergence of healthcare apps has drastically boosted healthcare information technology in last few years

Healthcare information technology is gaining prominence across the world owing to its added advantages including better access to patient information. Introduction of social media platform along with handy mobile devices has bridged the gap between payers and providers. Moreover, big data concept has led chained hospitals to understand the patient in more logical way thereby driving the market to its high potential.

Increasing number of surgical interventions, rising demand for improved healthcare services, demand for high-tech hospitals and clinics and increasing patient population would further boost the healthcare IT services market globally. Demand for improved healthcare services are increasing due to increasing incidences of chronic health issues, such as hypercholesterolemia, diabetes and rising number of infectious diseases and rising geriatric population of the world.

Market Taxonomy:

Coherent Market Insights has segmented the industry into:

  • By Application
  • By End-use
  • Platform
  • By Services

By end-use, healthcare information technology services can be categorized into four major segments – hospitals, laboratories, pharmacies, and other healthcare institutions.

On the basis of platform, healthcare information technology market is segmented into on-premise, web-based, and cloud based servers.

On the basis of services, healthcare information technology services are segmented as:

  • Medical Imaging Professional Services
  • Revenue Cycle Management Services for Hospitals
  • Accountable Care Organization Services
  • Document Management Services
  • Business and Regulatory Support Services
  • Managed Services
  • Point-of-care Decision Support Services
  • Evidence-Based Decision Support Services
  • Ordering and Inventory Management Services
  • Homecare & Hospice Support Services
  • Medical Billing and Coding Services for Physicians
  • Practice Consulting Services
  • Patient Care Solutions & Services
  • Other Medical-Surgical-Laboratory Services

Need for integration of payers and provider to optimize cost and service efficiency is expected to reshape the healthcare IT industry in North America

Geographically, North America accounted for the largest market for healthcare information technology services followed by Europe. These regions dominate the overall healthcare IT services market owing to presence of healthcare infrastructure. However, Asia Pacific is expected to be the most lucrative market for different healthcare IT services due to the improving healthcare awareness, rise in healthcare expenditure, booming IT industry and patient demographics. Asia Pacific is mainly driven by China and India. As per the estimates, China and India are expected to account for over 50% of regional market by 2024.

Healthcare information technology services market is consolidated with leading players accounting for major share of the market

Some of the major players operating in the healthcare IT services market include, Carestream Health, Inc., Epic Systems Corporation, Cerner Corporation, GE Healthcare, McKesson Corporation, NextGen Healthcare Information Systems, LLC, Philips Healthcare, Merge Healthcare Incorporated, Agfa HealthCare NV, and Siemens Healthcare among others.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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