Healthcare IT Integration Market Overview 2019 | Industry Analysis with Market Revenue, Gross Margin, Profit, and Research Report Forecast to 2024

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Healthcare IT Integration

The Healthcare IT Integration Market report expects to give a 360-degree perspective available as far as cutting-edge innovation, key improvements, drivers, restrictions and future patterns with effect examination of these patterns available for present moment, mid-term and long term during the forecast period. Further, the report likewise covers key players profiling with point by point SWOT investigation, budgetary certainties and key improvements of items/administration from the previous three years.

The report first poses the Healthcare IT Integration Market basics: definitions, applications, classifications, and market overview; product specifications; manufacturing processes; cost structures, raw materials and more.

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Scope of the Report:

  • Healthcare IT integration is defined as integrating information technology (IT) with operations in healthcare. The integration of information technology (IT) in healthcare includes a variety of automated methods that are used to manage information about people’s health and healthcare, for both individual and group of patients.

    There are 4 key segments covered in this Healthcare IT Integration Systems Market report:

    • Competitor segment
    • Product type segment
    • End-use/application segment
    • Geography segment

    Healthcare IT Integration Market with Key Segments:

    By Product Types: Type 1, Type 2, Type 3

    By Applications: Application 1, Application 2, Application 3

    By Key Players:

  • Allscripts Healthcare Solutions Inc.
  • Cerner Corporation
  • GE Healthcare
  • IBM Corporation
  • Siemens Healthcare GmbH
  • Corepoint Health LLC
  • InterSystems Corporation
  • Oracle Corporation
  • Orion Health

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    Market Overview:

  • The global healthcare IT integration market was valued at USD 2,180.26 million in 2018, and is estimated to be valued at USD 3,973.32 million in 2024, witnessing a CAGR of 10.52%. The market is being driven by factors, such as the need to build a single platform for patients’ records and other healthcare providers, need to increase the efficiency of current medical practices and institutions, need to cut or contain healthcare expenditure, and rise in the demand for paperless technology.
  • The expenditure on health per capita in developed regions, such as North America and Europe, is already very high and is increasing rapidly in some regions. For instance, as per the report of CMS, the healthcare spending in the United States increased by 3.9% to reach USD 3.5 trillion, or USD 10,739 per person in 2017. Emerging economies, such as India, which already spend a lesser percentage of GDP on healthcare, are also looking for budget cut and one of the ways to go ahead is by introducing IT in healthcare. If these countries have to move toward less expenditure on healthcare, then they have to implement a more focused healthcare policy. For any policy to be implemented, comprehensive data is required about the past and present conditions and projection for the future, which is acutely missing in these countries.
  • In many of the instances, patients are asked to go for some tests and costs associated with them are really high. These tests may have been performed earlier by some other doctor at another lab, however, due to lack of a proper database for patient information, in most of the cases, patients have to go for the repetitive test. This is again adding to the overall healthcare cost. Use of IT in healthcare and integrating with other medical departments can minimize such repetitive tests by creating a comprehensive database for patients’ information, such as Electronic Medical Record (EMR). This indicates that there is a rising need to inculcate some modifications in the healthcare cost structure, which can be achieved by incorporating healthcare integration tools at the point of care.

    Healthcare IT Integration Market Report Provides the Following:

    Healthcare IT Integration Market

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    Key Market Trends:

    Interface Engines is Expected to hold the Highest Market Share in the Product Segment

    In the product segment of the healthcare IT integration market, interface engines are believed to have the largest market size and are expected to witness a CAGR of 10.78% during the forecast period.

    An interface engine, also known as an integration engine, is a software program that processes the data between various healthcare IT systems. These integration engines help IT departments tie together disparate systems, allowing the clinicians and other authorized users to access data housed within multiple EHRs or other applications. The role of an interface engine is to ease the workflow by providing flexibility to change direction and send alerts when any abnormal condition arises. Streamlined healthcare workflows and interface engines are a vital combination of support and delivery of the products. Some of the top interface engines found are Cloverleaf, Corepoint, Rhapsody, Datagate, and IGUANA. The interface engines are, thus, found to be less expensive and take less time to initially implement because an engine allows for the leveraging of data. An engine is flexible in its acceptance of data.

    With the rising significance of the interface engine, there is a rapid future growth estimated for this segment.

    North America Dominates the Market and is Expected to do the Same in the Forecast Period

    North America currently dominates the market for healthcare IT integration and is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the well-established healthcare industry and better reimbursement facilities in the region. The United States holds the majority of the market in the North American region, due to the higher adoption of digital healthcare in the country and the rising investments done by the companies over there.

    Healthcare IT Integration Market Covers Following Points in TOC:

    • Chapter 1: Healthcare IT Integration Market Definition
    • Chapter 2: Research Methodology of Healthcare IT Integration Market
    • Chapter 3: Healthcare IT Integration Market Executive Summary
    • Chapter 4: Healthcare IT Integration Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
    • Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
    • Chapter 6: Healthcare IT Integration Market Segmentation by Types, End-User, and Applications Forecast to 2024
    • Chapter 7: Healthcare IT Integration Market Segmentation by Geographical Regions
    • Chapter 8: Competitive Landscape of Healthcare IT Integration Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
    • Chapter 9: Key Players for Healthcare IT Integration Market

    For Detailed TOC Click Here

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