Dallas, TX, May 27, 2016 --(PR.com
)-- The Global healthcare IT integration market is expected to reach USD 5.2 billion, growing at a CAGR of 11.8% during the forecast period of 2016 to 2022, from USD 2.4 billion in 2015.
Healthcare IT integration market is expected to grow exponentially in the near future, owing to its importance in streamlining healthcare process. By integrating all healthcare IT products within a provider or among providers, the healthcare process can be maintained in a proper way from admission to claims reimbursements. Also the maintenance of healthcare records is among one of the major priorities in developed countries and by integrating healthcare this can be achieved. Usage of multi electronic health records (EHRs) and other healthcare IT products, hospitals make best efforts that enable them to use the most logical solution for different departments or requirements. However a dearth of standards causes errors such as workarounds, data duplication, and interoperability problems for IT and end-users. To stop these errors from happening healthcare providers uses single software, which in turn will not provide best solution for all departments. Healthcare IT integration products and services solve the previously mentioned crisis, hence creating a global need.
The healthcare IT integration market is segmented based on type, services, end user, applications and geography. Based on type the market is segmented into products and services. In 2016, the healthcare IT integration services is expected to dominate the market, due to the continuous need of training and maintenance and rising installed base of integration engines in U.S.. The product segment includes integration engines or platforms and integration software. In 2015, the healthcare IT integration engines segment is dominant with approximately a market share of above 70% growing at the highest CAGR of 12.6% in the forecast period. The healthcare It integration services is further segmented into installation services, maintenance services and training services. The maintenance services segment commanded the largest share of 48.7% of the global healthcare IT integration market, by service, in 2015.
Based on end-users the healthcare IT integration is segmented into hospitals, radiology centers, diagnostic laboratories, cath labs, clinics and, others. In 2016, hospitals is expected to be the largest end-user for healthcare IT integration products, owing to the large number of healthcare IT products installed in hospitals, the larger number of products more is the complexity and hence greater needs for integration.
Based on applications the global healthcare IT integration market is segmented into medical device integration and healthcare center integration. In 2015, healthcare It integration leads the market, owing to the increasing number of users for healthcare IT products and increasing demand of Electronic Health Records (EHR) solutions in the market.
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. North America has been among the most developed healthcare IT market all along. The healthcare IT integration market in the U.S. is expected to have excellent growth opportunities, owing to the existence of numerous large hospitals and health systems, changing regulations, increasing geriatric population, and growing need to restrain healthcare costs in the country. Most of the major players in this market are based or selling their products through partnership in the U.S., owing to which the U.S. is a center for innovation in the healthcare IT market. In 2016, North America is expected to dominate the global healthcare IT market with 73.5% share.
Though globally there are a large number of players operating in this market, due to the fact that the market is concentrated in U.S., the 6 major players account for more than 65% of this market. Some of the major players operating in this market are Carepoint Health, Oracle, AVI-SPL, Inc., Allscripts Healthcare Solutions, Inc., Epic Systems Corporation, Qualcomm Life, Inc., Interfaceware, Inc., Orion Health, Quality Systems, Inc., Cerner Corporation, InterSystems Corporation, Infor, Inc., Orion Health, Summit Healthcare and Siemens among other vernacular players.
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