• Stacy Lawlor

Global Healthcare IT Market Size to grow by US$ 822.5 Bn in 2030

The healthcare it market is projected to reach US$ 822.5 Bn by 2030, at a CAGR of 21.7%.

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The increasing consumption of pacs gadgets around the world is credited to the market's rise. Furthermore, the growth of artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML) technologies is presenting new market development potential. Memory chips benefit from these technologies because they can process vast volumes of data in less time. Furthermore, market expansion would be fueled by rising demand for faster and more powerful memory chips in electronic prescribing systems applications over the forecast period. The market is expected to increase due to trends such as 5G connection, advanced driver assistance systems (ADAS) in automobiles, cloud computing, and IoT-based gadgets. In addition, the market is predicted to rise due to the development of novel technologies, high-end handsets, and small electronic devices.

The sector is moving toward outpatient settings to reduce the cost of care in response to the increasing pressures on health systems to lower healthcare costs. Another significant factor influencing the rise of ambulatory care is convenience. The need for and use of healthcare IT solutions in outpatient settings will rise along with the number of outpatient settings and the influx of patients.

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The rising usage and demand of the cutting-edge solutions is being boosted by an increase in the number of care institutions, universities, sophisticated research centres, and other facilities. A significant factor in this region's development is the presence of famous care institutions. The University of Maryland Medical Center, Cleveland Clinic, John Hopkins Medicine, Mayo Clinic, and St. Jude Children's Research Hospital are a few examples of care facilities and research centres located in North America that present potential for the industry's future expansion. Growth is being driven by the expanding demand to improve clinical, functional, and operational efficiency while streamlining and optimising hospital workflow.

The healthcare provider solutions segment accounted largest market share in 2020 due to the increasing adoption of electronic health records (EHR) and other technologies. Because of the rising demand for high-quality healthcare services and solutions, rising acceptance of mHealth and telehealth practices, rising demand for better patient safety and patient care, rising government initiatives to promote HCIT, and rising adoption of cloud technology in healthcare, the market is predicted to grow significantly. The tele-healthcare segment accounted largest market share in 2020 due to the increased smartphone adoption and better internet access. High adoption of these technologies, which will change the tele-healthcare market by increasing the uptake of telehealth technology and applications, is a result of economic development in emerging economies. North America is expected to dominate the market share of global healthcare it market owing to the rising investments over R&D activities regarding the components of the healthcare it. Heavy investments on IT infrastructure, advanced technologies, rising digital literacy, and presence of early adopters in the region.

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May 2021- Optum has collaborated with Bassett Healthcare Network to further enhance Bassett's clinical and operational performance and advance the delivery of high-quality, convenient, and affordable healthcare for patients across US

June 2020- Athenahealth launched telehealth solution named athenaTelehealth which will provide secure scheduling of the billing process for clinicians as well as patients.

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