LONDON--(BUSINESS WIRE)--The global healthcare IT market is expected to post a CAGR of over 8% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing focus on improving efficiency and the quality of services by healthcare service providers. Investing in IT hardware and software tools has reduced the workload on doctors and support staff members in hospitals, which in turn has improved the quality of treatment. The use of medical software systems is also helping in appropriate decision making, providing computerized reminders, and managing the work schedules of staff in an automated manner. This has reduced human intervention and minimized the time required to deliver patient services, thereby leading to the growth of the overall global market.
This market research report on the global healthcare IT market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of AI-enabled emotion recognition technologies as one of the key emerging trends in the global healthcare IT market:
Global healthcare IT market: Emergence of AI-enabled emotion recognition technologies
Doctors and caregivers in the healthcare industry are increasingly relying on evolving medical technologies such as AI for accurate ailment diagnosis and patient treatment. AI has been garnering increasing acceptance in the healthcare IT landscape. One use case of AI in healthcare is emotion recognition wherein the solution is designed to capture, interpret and respond to human emotions and moods.
For instance, telemedicine vendors (that specialize in telepsychiatry) have started using emotion recognition technology to understand what patients are feeling. The technology can be used on patients who are not physically present and are not expressing their reactions to psychiatrists. In the remote application of the technology, smartphones and tablet cameras are used to capture the patient’s facial expressions. The AI algorithm analyzes the expressions and provides an accurate analysis of the emotional state of patients in real time.
“Improving healthcare services have led to an increase in the average human lifespan. This has led to an increase in chronic diseases, and the number of patients necessitating the need reduce the per-patient time of a doctor and to increase the efficiency of treatment. The healthcare IT solution will play a significant role in automating the treatment process right from the admission of patients, to maintaining records of treatment and scheduling follow-ups,” says a senior analyst at Technavio for research on IT professional services.
Global healthcare IT market: Segmentation analysis
This market research report segments the global healthcare IT market by geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 48%, followed by EMEA and APAC respectively. However, during the forecast period, the region of APAC is expected to show the highest incremental growth while the other two regions are expected to see a decline in their market share.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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