Healthcare information technology software assists in storing, capturing, handling, and transferring data of a patient on to the healthcare system. It gathers and evaluates the healthcare information that aid patients and doctors in efficient decision-making. Further, the software assists in enhancing efficiency, reducing operating errors, reducing cost, and providing a better service. The information collected by the healthcare information software is then used for medical treatments in order to avert a disease from metastasizing or getting to an incurable stage.
Healthcare information technology software has gained intense recognition in medical centers and hospitals during the past numerous years. The growth of global healthcare information technology software is mainly driven by the busy lifestyles and rising fast foods consumption resulting in elevated occurrence of lifestyle diseases globally. Further, the rise in technological know-how, mounting need for efficient & rapid healthcare processes & systems, and increasing patient data volume are also expected to fuel market growth during the forecast period. In addition, numerous technological improvements in healthcare information technology software, like automated quality control, will further surge the need for healthcare information technology software. Moreover, the current COVID-19 pandemic has opened up several growth prospects for market players. To cite, Allscripts declared the extension of its association with Microsoft in July 2020 to back cloud-based Sunrise EHR and offer co-innovation prospects for overhauling healthcare with more scalable and smarter technology.
The global healthcare information technology software market can be segregated based on product type, application, and region. By product type, the market is bifurcated into population health management, healthcare analytics, CRM, supply chain management, claims management, and fraud management. By application, the market is categorized into payer and provider.
Regionally, in 2019, the global healthcare information technology software market was ruled by North America and is expected to lead the market during the forecast period. This regional expansion can be credited to the growing spending in healthcare and the advent of numerous government policies encouraging the implementation of digital health technologies. Even Asia Pacific is projected to observe considerable growth rate due to the enhancement of IT infrastructure within healthcare facilities, growing private & public funding for building advanced BI tools, and employment of technology-based BI solutions.
The leading players within the global healthcare information technology software market comprise Siemens Healthcare, GE Healthcare, McKesson, 3M Health, Agfa Gevaert, Philips Healthcare, Dell, Allscripts, NextGen Healthcare, Epic Systems, Neusoft, Merge Healthcare, Cerner, InterSystems, Meditech, and Carestream Health, among others.