DUBLIN--(BUSINESS WIRE)--The "Healthcare IT Integration Market by Product (Interface Engine, Medical Device Integration, Media Integration), Service (Integration, Maintenance, Training, Consulting), End User (Hospital, Laboratories, Home Healthcare, Clinic) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global healthcare IT integration market is projected to reach USD 7.1 billion by 2026 from USD 3.9 billion in 2021, at a CAGR of 12.4% during the forecast period. The growth in the healthcare IT integration market is mainly driven primarily by the increased use of connected care technologies during COVID-19, rapid adoption of electronic health records and other healthcare IT solutions, urgent need to integrate patient data into healthcare systems and favourable government policies, funding programs, and initiatives to deploy healthcare IT integration solutions. On the other hand, the interoperability issues and the high cost associated with healthcare IT integration solutions are restraining the growth of this market.
The services segment accounted for the largest share of the healthcare IT integration market in 2020.
Based on products, the healthcare IT integration market has been segmented into interface/integration engines, medical device integration software, media integration solutions, and other integration tools, used in system integration. Based on services, the healthcare IT integration market is further classified into implementation and integration, support and maintenance; training and education; and consulting services. The services segment accounted for the largest share of the global healthcare IT integration market in 2020. The large share of this segment is attributed to the surging requirement to build, design, and implement standardized, interoperable networking platforms.
The market in the Asia Pacific is projected to witness the highest growth rate during the forecast period (2021-2026).
North America accounted for the largest share of the Healthcare IT integration market in 2020. This can be attributed to the growing demand to curtail the soaring healthcare costs and the rising need to improve the overall efficiency of healthcare organizations in the region. Market growth in North America is further propelled by the availability of government funding for healthcare providers for the development of state-wide and nationwide healthcare information exchanges in the US, rising preference for telehealth solutions and home healthcare facilities due to the growing number of COVID-19 patients, and the presence of large hospitals that demand integrated healthcare networks.
Market Overview
Drivers
- Substantial Cost Saving Achieved Through Data Integration in Healthcare Industry
- Increased Use of Connected Care Technologies During COVID-19 Pandemic
- Rapid Adoption of Electronic Health Records and Other Healthcare It Solutions
- Favorable Government Policies, Funding Programs, and Initiatives to Deploy Healthcare It Integration Solutions
- Urgent Need to Integrate Patient Data into Healthcare Systems
Restraints
- Interoperability Issues
- High Cost Associated with Healthcare It Integration Solutions
Opportunities
- Growing Demand for Telehealth Services and Remote Patient Monitoring Solutions
- Emerging Market for Healthcare IT Integration Solutions in Developing Countries
Challenges
- Data Integration Challenges
- Data Security Concerns
-
Shortage of Skilled Healthcare IT Professionals
Companies Mentioned
- Allscripts Healthcare Solutions, Inc.
- Athenahealth
- Avi-Spl, Inc.
- Capsule Technologies, Inc.
- Cerner Corporation
- Change Healthcare
- Cognizant
- Epic Systems Corporation
- GE Healthcare
- IBM
- Infor (Koch Industries)
- Inovalon
- Interfaceware Inc.
- Intersystems Corporation
- Koninklijke Philips N.V.
- Lyniate
- Medical Information Technology, Inc.
- Nextgen Healthcare, Inc.
- Oracle Corporation
- Orion Health Group Limited
- Osplabs
- Redox, Inc.
- Siemens Healthineers
- Summit Healthcare Services, Inc.
-
Wipro, Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/nijdeb
