USD 4.61 billion
Healthcare IT Integration Market Size, Share, Growth Analysis, By Product Type (Integration Engines, Interface Engines), By Service Type (Implementation and Integration Services, System Integration), By End-User (Hospitals, Large Hospitals), By Deployment Mode, By Application, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2236 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
92
|Figures:
76
Healthcare IT Integration Market Insights
Global Healthcare IT Integration Market size was valued at USD 4.61 billion in 2022 and is poised to grow from USD 5.18 billion in 2023 to USD 13.2 billion by 2031, growing at a CAGR of 12.4% during the forecast period (2024-2031).
Over the projection period, it is anticipated that the global market for healthcare IT integration would expand. Due to the expanding amount of data produced by healthcare systems, rising healthcare costs, and the desire to improve the efficacy of present medical practises, the market is primarily driven by the need to create a unified platform for patient data. Additionally, the need to increase patient safety and supportive government programmes for healthcare IT integration will contribute to the market's expansion throughout the course of the forecasted years.
Due to its role in facilitating a quicker and safer flow of patient data to healthcare providers, medical device integration held the greatest market share in 2019. One connectivity technology that assists in facilitating unified interoperability between healthcare applications, EHRs, and medical devices is Cerner's CareAware.
Due to its role in connecting operational, clinical, and financial data across the health care IT ecosystem, the medical device integration market is anticipated to expand over the course of the projected period. Additionally, the market's players are seeing significant possibilities for growth due to the expanding global adoption of clinical and non-clinical healthcare IT integration, the expansion of patient monitoring, and the availability of telehealth services.
Over the forecast period, there will be significant development potential due to the growing emphasis on providing quality-driven patient care through the use of HCIT solutions, as well as the growing acceptance of artificial intelligence and machine learning in hospital settings. Companies are pursuing organic and inorganic strategies, like merger and partnership, to maintain their dominant position in the healthcare IT integration market. For instance, in order to finish an integrated financial and clinical platform, Heritage Valley Health System joined with Allscripts Healthcare Solutions Inc. in February 2019. Through this partnership, Allscripts solutions will be made available to hospitals, physician offices, and outpatient facilities.
US Healthcare IT Integration Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Integration
Fastest Growth
Maintenance
Growth Rate
12.4% CAGR
Global Healthcare IT Integration Market, 2021-2027 ($ Mn)
Country Share for North America Region- 2021 (%)
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Healthcare IT Integration Market Segmental Analysis
Global Healthcare IT Integration Market is segmented by product type, service type, end-user, deployment mode, application and region. Based on product type, the market is segmented into integration engines, integration platforms and medical device integration software. Based on service type, the market is segmented into implementation and integration services, support and maintenance services, training and education services and consulting services. Based on end-user, the market is segmented into hospitals, clinics, diagnostic laboratories and ambulatory care centers. Based on deployment mode, the market is segmented into on-premise and cloud-based. Based on application, the market is segmented into clinical integration and non-clinical integration. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Healthcare IT Integration Market Analysis by Service
The interface engines segment dominated the global healthcare IT integration market in 2021. Growing requirement for information interchange in healthcare service facilities and with other related organizations is driving the growth of the interface engine segment. The medical device integration segment, on the other hand, is predicted to grow at the fastest rate of 13.3% over the projection period.
Healthcare IT Integration Market Analysis by End User
The hospital integration segment is expected to have the largest market share during the forecast period, based on end user. Healthcare IT integration enables effective remote patient monitoring and dependable patient data sharing for healthcare facilities, which is expected to propel the hospital integration segment during the forecast period.
The clinic integration segment is expected to grow significantly during the forecast period, owing to the benefits of using healthcare IT integration in clinics, such as improved coordination between departments, faster services, cost reduction, and easy access to patient records and other clinical documents.
Global Healthcare IT Integration Market By Service , 2021(%)
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Healthcare IT Integration Market Regional Insights
North America held the largest share of the global healthcare IT integration market in 2021. Factors such as the widespread adoption of clinical device connectivity and interoperability solutions to reduce rising healthcare costs, stringent regulations and guidelines imposed by various government and non-government authorities such as the Federal Communications Commission (FCC) and the Centers for Medicare and Medicaid Services (CMS), etc. are propelling growth of the healthcare IT integration market in North America.
The Asia Pacific region is expected to dominate the global healthcare IT integration market during the forecast period. Due to rising demand for e-health applications in the region, Asia Pacific is expected to grow at the fastest rate during the forecast period. Furthermore, rising government initiatives to improve healthcare facilities are expected to drive the Asia Pacific market.
Global Healthcare IT Integration Market By Geography, 2021 - 2027
- Largest
- Fastest
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Healthcare IT Integration Market Dynamics
Healthcare IT Integration Market Driver
- Increasing adoption of electronic health records (EHRs) along with other IT solutions will boost the market growth during the forecast period. Governments of countries such as Canada, Denmark, Sweden, France and the HITECH mandates incorporation of EHRs and EMRs to control rising healthcare costs and to improve patient care quality.
- Furthermore, IT services aid in the integration of many end users throughout the healthcare system, such as hospitals, nursing care units, pharmacies, and medical insurance firms. However, for healthcare professionals to make successful decisions, this data must be integrated and made available in real-time. As a result of the expected market expansion of EHR systems in the next years, hospitals will place a significant emphasis on developing their capabilities by integrating multiple hospital systems with EHR, hence providing growth prospects for the healthcare IT integration market.
Healthcare IT Integration Market Restraint
● Various health information systems create significant barriers to the successful adoption and use of healthcare IT solutions. Many nations lack defined IT standards for data storage and interchange, which causes interoperability problems. Despite the existence of numerous data storage, transit, and safety standards, adoption and integration of these interoperability standards are significant problems for healthcare providers and healthcare IT system suppliers. As there are no other health information systems that address all of the administrative, clinical, technological, and laboratory needs of big healthcare providers, interoperability and interoperability standards have become crucial.
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Healthcare IT Integration Market Competitive Landscape
The healthcare IT integration market is extremely competitive, with numerous large competitors. However, thanks to technical developments and product breakthroughs, mid-size to smaller businesses are expanding their market position by releasing new ingredients at lower rates. Companies like as Allscripts Healthcare Solutions Inc., Cerner Corporation, GE Healthcare, and IBM Corporation have a sizable market share.
Top Players in the Global Healthcare IT Integration Market
- Oracle Corporation (USA)
- Allscripts Healthcare Solutions, Inc. (USA)
- NextGen Healthcare, Inc. (USA)
- Tata Consultancy Services Ltd. (India)
- Leidos Holdings, Inc. (USA)
- Dell Technologies Inc. (USA)
- Cognizant Technology Solutions Corporation (USA)
- Cerner Corporation (USA)
- InterSystems Corporation (USA)
- Epic Systems Corporation (USA)
- GE Healthcare (USA)
- Philips Healthcare (Netherlands)
- Siemens Healthineers (Germany)
- IBM Corporation (USA)
- Infor, Inc. (USA)
- Redox, Inc. (USA)
Healthcare IT Integration Market Recent Developments
- In September 2021, Lyniate (US) released Lyniate Rapid, a healthcare API gateway and manager designed to assist health teams in the creation and protection of APIs, particularly Fast Healthcare Interoperability Resources (FHIR)-based APIs.
-
In April 2021, Datica, Inc. was acquired by Lyniate (US) (US). The purchase of Datica Integration Business (from Datica, Inc.) has increased its clients' capacity to link and aggregate data from numerous systems of record using FHIR.
Healthcare IT Integration Key Market Trends
- The healthcare industry has begun to focus on combining AI and IoT technology to improve patient care. This improvement is anticipated to increase scalable treatments, digital patient experience, and medical device interoperability.
- The fast spread of coronavirus illness has resulted in a global scarcity of healthcare providers. This has increased the need for healthcare IT-enabled vital signs monitoring equipment
Healthcare IT Integration Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, it is anticipated that the use of IoT in healthcare equipment and machinery reduces mistakes while dealing with enormous amounts of sensitive patient data. Making data-driven choices through the integration of IoT sensors and automated workflows is an efficient method to eliminate human mistakes and decrease process-related time, cost, and power consumption. This is likely to accelerate the incorporation of IoT sensors into healthcare equipment.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.61 billion |
| Market size value in 2031 | USD 13.2 billion |
| Growth Rate | 12.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Healthcare IT Integration Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Healthcare IT Integration Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Healthcare IT Integration Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Healthcare IT Integration Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Healthcare IT Integration Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Healthcare IT Integration Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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