Global Healthcare IT Outsourcing Market Set for Rapid Growth, to Reach Around USD 73.1 Billion by 2024

Zion Market Research has published a new report titled “Healthcare IT Outsourcing Market by Type (Electronic Health Record (EHR), Payer HCIT Outsourcing Market, Operational HCIT Outsourcing Market, Life Sciences HCIT Outsourcing Market, and IT Infrastructure Outsourcing Market) and by Industry (Healthcare Provider System, Health Insurance, Biotechnology, Pharmaceutical, Clinical Research Organization (CRO), and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global healthcare IT outsourcing market was valued at approximately USD 46.8 billion in 2017 and is expected to generate revenue of around USD 73.1 billion by end of 2024, growing at a CAGR of around 6.5% between 2018 and 2024.

Increasing the dependability of software and technology-based solutions in the healthcare industry along with trending healthcare management are factors accelerating the growth of the healthcare IT outsourcing market over the estimated time.

Healthcare IT outsourcing market is mainly driven by its prominent characteristics which include enhanced productivity and reduced cost which has increased consumer satisfaction. Furthermore, healthcare IT outsourcing market is driven by the upsurge demand for a digital platform to maintain, store, and to retrieve data in real time through various interfaces of a large patient pool. Additionally, improved features of the healthcare IT outsourcing services which include innovative and efficient analytic tool to provide solutions to the complex healthcare problems will increase the overall productivity and satisfaction. These factors are estimated to propel the healthcare IT outsourcing market in the near future. However, lack of trained professionals in the market is acting as a hurdle for the healthcare outsourcing market and may affect its growth in the long term. Nonetheless, significant investment by the government in healthcare IT outsourcing market across the globe coupled with the growing requirement for data security is likely to disclose new avenues for the market.

The healthcare IT outsourcing market is segmented on the basis of application as, electronic health record (EHR), payer HCIT outsourcing market, operational HCIT outsourcing market, life sciences HCIT outsourcing market, and IT infrastructure outsourcing market. By application segment, electronic health record (EHR) is estimated to cover prominent market value share as it provides a significant platform to store data of a large patient pool and also allows the access of data through different interfaces in real time which makes it convenient for doctors to keep track of patient’s health.

Based on industry, healthcare IT outsourcing market is segmented as healthcare provider system, health insurance, biotechnology, pharmaceutical, clinical research organization (CRO), and others. By industry segment, healthcare provider system is covering the large market value share, attributed to the facts such as increasing stringent rules and regulations by the government and ruling authorities regarding healthcare solutions, integration of the hospital to provide more prominent services to the patient base along with the growing inclination towards patient-centric solutions.

Based on region, the global healthcare IT outsourcing market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In the healthcare IT outsourcing market, North America is anticipated to dominate the regional segment. Furthermore, in the North America region, the U.S. is estimated to witness significant demand for prominent healthcare platform. Europe is estimated to be following the footsteps of North America. Asia Pacific region is expected to be the significantly growing region for healthcare IT outsourcing market in the near future. Additionally, Latin America and the Middle East & Africa will show moderate CAGR growth in the healthcare IT outsourcing market.

Some of the key players in healthcare IT outsourcing market include among Cognizant Technology Solutions, Anthelio Healthcare Solutions, Allscripts Healthcare Solutions, Inc., Accretive Health, Inc., Accenture Plc., McKesson Corporation, Infosys Limited, International Business Machines (IBM) Corporation, Hewlett-Packard Company, HCL Technologies, Dell, Inc., Computer Sciences Corporation, Epic System, Xerox Corporation, Siemens Healthcare, and others.

This report segments the global healthcare IT outsourcing market as follows:

Global Healthcare IT Outsourcing Market: By Application

• Electronic Health Record (EHR)
  • Pharmacy Information System (PRS)
  • Revenue Cycle Management (RCM) System
  • Laboratory Information Management System (LIMS)
  • Others
• Payer HCIT Outsourcing Market
  • Customer Relationship Management System
  • Billing System
  • Claim Processing System
  • Fraud Detection
  • Others
• Operational HCIT Outsourcing Market
  • Supply Chain Management (SCM)
  • Business Process Management
  • Others
• Life Sciences HCIT Outsourcing Market
  • Clinical Database Management System (CDMS)
  • Enterprise Resource Planning (ERP)
  • Clinical Trial Management System (CTMS)
  • R&D IT Services
  • Others
• IT Infrastructure Outsourcing Market
  • Cloud Computing
  • Infrastructure Management Services
  • Others

Global Healthcare IT Outsourcing Market: By Industry

• Healthcare Provider System
• Health Insurance
• Biotechnology
• Pharmaceutical
• Clinical Research Organization (CRO)
• Others

Global Healthcare IT Outsourcing Market: By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

– Zion Market Research