GVR Report cover Healthcare IT Integration Market Size, Share & Trends Report

Healthcare IT Integration Market Size, Share & Trends Analysis Report By Product, By Service, By End User, By Region, And Segment Forecasts, 2020 To 2027

  • Report ID: GVR7100
  • Number of Pages: 0
  • Format: Electronic (PDF)

The global healthcare IT integration market is anticipated to witness growth over the forecast period. The market is primarily driven by the need to build a single platform for patient data owing to the growing volume of data generated in healthcare systems, rising healthcare expenditure, and the need to increase the efficacy of current medical practices. Moreover, the need to improve patient safety and encouraging government initiatives for healthcare IT integration will also support the growth of the market during the forecast years.

Based on products, the market is segmented into medical device integration, interface engine, media integration, and others. The medical device integration held the largest market share in 2019, as it helps in safer and faster patient data transfer to healthcare professionals. For instance, Cerner’s CareAware is a connectivity platform which helps in enabling unified interoperability between healthcare applications, EHR, and medical devices. It also helps to connect operational, clinical, and financial data across the health care IT ecosystem owing to these features the medical device integration segment is likely to grow during the forecast period. Moreover, growing adoption of clinical and non-clinical healthcare IT integration globally, growth of patient monitoring, and telehealth services are offering prominent growth opportunities for the players operating in the market.

On the basis of services the healthcare IT integration market is divided into implementation, support, education. These services facilitate workflow efficiency and help in delivering quality care to patients.

The end-users market is segmented into hospitals, laboratories, diagnostic imaging centers, and others. Increasing emphasis on offering quality-driven patient care through the use of HCIT solutions, rising adoption of artificial intelligence, and machine learning in the hospital setups are expected to offer major growth opportunities over the forecast period. To sustain its strong position in the healthcare IT integration market, companies are venturing into inorganic and organic strategies, such as merger and partnership. For instance, Heritage Valley Health System had partnered with Allscripts Healthcare Solutions Inc. in February 2019 in order to complete an integrated financial and clinical platform. This partnership is aimed to deploy Allscripts solutions to outpatient facilities, physician practices, and hospitals.

North America held the largest market share for the healthcare IT integration market. The growth in this region can also be attributed due to the rising adoption of healthcare information technology by providers, and payers. Moreover, increasing government initiatives for improving patient care, and the rising need for healthcare infrastructure optimization are driving the growth of the healthcare IT integration solutions market. However, Asia Pacific is likely to experience rapid growth over the forecast period owing to the existence of large patient population base, increasing commercialization of healthcare IT integration developed by the global market players are expected to drive the growth of the clinical risk grouping solutions market.

The prominent market players include Cerner Corporation, Orion Health, NextGen Healthcare Inc, iNTERFACEWARE, Inc., Allscripts Healthcare Solutions, Inc., MEDITECH, Epic Systems Corporation, AVI-SPL, Inc., and Corepoint Health. Companies are adopting cutting edge strategies such as product innovation, mergers, and acquisitions, untapped market penetration, etc. for increasing their market share. For instance, in January 2019, Veradigm, a subsidiary of Allscripts partnered with Microsoft to establish a cloud-based electronic health record. The partnership resulted in the development of point-of-care technology for patients and providers. Moreover, Cerner Corporation had collaborated with Columbus Regional Healthcare System to implement Cerner’s revenue cycle solutions and integrated EHR across its ambulatory and acute facilities in May 2018. This collaboration is intended to broaden and strengthen Cerner’s market position.

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