Members

Blog Posts

Radiotherapy Market Analysis, Size, Share, and Forecast 2031

Posted by Prajakta on February 28, 2024 at 8:52am 0 Comments

The Radiotherapy Market in 2023 is US$ 6.64 billion, and is expected to reach US$ 10.04 billion by 2031 at a CAGR of 5.30%.

FutureWise Research published a report that analyzes Radiotherapy Market trends to predict the market's growth. The report begins with a description of the business environment and explains the commercial summary of the chain structure. Based on the… Continue

Global Healthcare IT Market Projected to Grow at CAGR of 19.8% to be Worth $974.5 Billion by 2027

Major Growth Driver: growing adoption of e-prescribing, telehealth, mHealth, and other HCIT solutions.

The pandemic has resulted in a significant increase in the burden on healthcare organisations across the globe. Healthcare facilities face immense pressure to create a well-coordinated environment where all clinical devices are connected internally and the organisation operates in coordination with other healthcare units.

According to Worldometer, there were around 650 million confirmed COVID-19 cases and 66 million deaths globally as of December 5, 2022. Considering the high and growing number of cases, the healthcare systems of several countries are facing a major shortage of hospital beds, healthcare providers, and basic medical equipment. This is compelling hospitals and other care facilities to deploy capacity management solutions to track COVID-19 patients and monitor and manage disease progression.

Restraint: IT infrastructure constraints in developing countries

Emerging countries experience a shortage of skilled IT personnel that impacts the adoption and usage of HCIT solutions in these countries. Furthermore, cost issues are one of the major obstacles to the adoption of HCIT solutions. The maintenance and software costs of these solutions are greater than the cost of the software. Additionally, software upgrades, per changing user requirements, represent a recurring expenditure amounting to almost 30% of the total cost of ownership. The aforementioned factors limit market growth in emerging countries to some extent.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=252

Opportunity: Rising use of healthcare IT solutions in outpatient care facilities

In response to the rising pressures on health systems to lower the cost of care, the industry is shifting toward outpatient settings to reduce care costs. An outpatient surgery centre procedure is estimated to cost 30% to 60% less than an inpatient hospital setting. In addition, convenience is another important factor driving the rise of ambulatory care. With the increase in outpatient settings and patient influx, the demand for and usage of HCIT solutions in outpatient settings will increase.

According to a survey sponsored by United Health (US), around 10% of US hospitals had dedicated HCIT clinical documentation improvement programmes for their outpatient settings. An additional 10% is planned to implement these services in the next six months. Furthermore, 14% of hospitals planned to implement advanced solutions in the near future. This trend is expected to drive the use of HCIT solutions, such as RCM solutions, in outpatient settings in the coming years.

Challenge: Interoperability issues

Although healthcare providers are making great progress toward coordinated value-based care, interoperability among information systems remains challenging for implementing HCIT solutions. The healthcare industry is highly information-intensive, where patient information is generated in all departments at all points of care within a healthcare organization. However, the usability of this information is very low if it is not integrated properly to create an exhaustive and accurate patient record. Since many HCIT tools are being used within healthcare systems, there is a greater need to integrate IT systems to aid accurate decision-making by healthcare professionals at different points of care delivery. Moreover, the lack of interoperability among health organisations with a regional or national health IT platform for exchanging data hinders the full exploitation of HCIT solutions.

Projected Surge in Revenue:

The global healthcare IT market in terms of revenue was estimated to be worth $394.6 billion in 2022 and is poised to reach $974.5 billion by 2027, growing at a CAGR of 19.8% from 2022 to 2027.

Objectives of the Study:

# To define, describe, and forecast the healthcare IT market based on product & service, component, end user, and region.
# To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
# To forecast the size of the HCIT market with respect to five geographic regions-North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa.
# To profile key players and comprehensively analyze their core competencies and market shares.
# To track and analyze competitive developments such as agreements, partnerships, collaborations, acquisitions, product/technology/service launches, and R&D activities of leading players.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=252

End Users:

Healthcare providers will be the largest end user segment among healthcare providers in the healthcare IT industry.

Based on end users, the healthcare providers segment accounted for the largest share in the global healthcare IT market during the forecast period. Factors such as stringent government regulations and the need to improve patient care while increasing operational efficiency account for this share. The increasing number of patients, hospitals, and ambulatory care centres and the strong purchasing power of hospitals are also driving the growth of this end-user segment.

Geographical Growth Scenario:

Asia Pacific is expected to exhibit the highest growth during the forecast period

The APAC market is expected to register the highest CAGR during the forecast period. Factors such as a large patient population, especially in China and India, growing per capita income, increasing investments in the healthcare industry by key market players, and rising awareness of advanced technologies are driving the growth of the APAC HCIT market.

Global Leading Companies:

Prominent players in the healthcare IT market include Optum, Inc. (US), Cerner Corporation (US), Cognizant (US), Change Healthcare (US), Koninklijke Philips (Netherlands), Epic Systems Corporation (US), Dell Technologies, Inc. (US), Allscripts Healthcare Solutions, Inc. (US), athenahealth (US), GE Healthcare (US), Oracle Corporation (US), Wipro Limited (India), IBM (US), eClinicalWorks (US), Infor (US), Conduent (US), Conifer Health Solutions, LLC (US), Nuance Communications, Inc. (US), 3M (US), SAS Institute, Inc. (US), Carestream Health (US), Inovalon (US), Practice Fusion, Inc. (US), Intersystems Corporation (US), Tata Consultancy Services (India).

Growth Strategies Adopted by Them:

These companies adopted strategies such as product launches, agreements, partnerships, expansions, collaborations, and acquisitions to strengthen their market presence in the healthcare IT market.

Speak To Our Research Experts@
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=252

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Views: 7

Comments are closed for this blog post

© 2024   Created by PH the vintage.   Powered by

Badges  |  Report an Issue  |  Terms of Service