North American Healthcare IT Market To Undergo Major Technological Advancements In Near Future
Seeking Alpha Analyst Since 2014
#Healthcare Consultant focusing on #TeleHealth #TeleMedicine #PatientPortals #CVIS #HCIT #MedicalRobots #Vaccines #MedicalDevices #WirelessHealth #Biotechnology
- End-User Trends:
- Shift Toward Value-Based Care in North America.
- Growing Number of Retail Clinics in the US Healthcare Industry.
- Growing Focus on Bridging the Gap Between Payers and Providers in North America.
The study involved four major activities in estimating the size of the North America Healthcare IT Market. Exhaustive secondary research was done to collect information on the adoption of different technologies and their trends at the country level. Industry experts further validated the data obtained through secondary research through primary research.
Furthermore, the market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (country-level incidence data for various diseases) and top-down approach (assessment of utilization/adoption/penetration trends, by product and services, components, and end user). After that, market breakdown and data triangulation methods were used to estimate the size of segments and subsegments.
Major Growth Boosting Factors:
The growth of the global North American Healthcare IT Industry is primarily influenced by the following factors:
# Growing Need to Curtail Escalating Healthcare Costs
# Government Mandates and Support for Healthcare It Solutions
# Shift Towards Patient-Centric Healthcare Delivery
# High Returns on Investment Associated With Hcit Solutions
What the Market Looks Like?
The North America healthcare IT market size is projected to reach USD 239.9 billion by 2025 from USD 96.3 billion in 2019, at a CAGR of 16.4% during the forecast period.
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Geographical Growth Scenario:
North America will continue to dominate the North America healthcare IT market during the forecast period
The market, by country, is segmented into the US, Canada, and Mexico. US accounted for the largest share of the North America healthcare IT industry in 2018 due to stringent legislative and accreditation requirements regarding healthcare, high adoption rate of HCIT technologies, regulatory requirements regarding patient safety, and the presence of a large number of IT companies, such as EPIC Systems (U.S.), Cerner Corporation (U.S.), McKesson Corporation (U.S.), Infor, Inc. (U.S.), and Allscripts Healthcare Solutions, Inc.
# North American healthcare IT manufacturers
# North American healthcare IT distributors
# Healthcare payer companies
# Government associations
# Market research and consulting firms
# Venture capitalists and investors
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