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Healthcare IT Integration Market Worth $5.3 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 8, 2019 /PRNewswire/ -- According to the new market research report "Healthcare IT Integration Market by Product (Interface Engine, Medical Device Integration, Media Integration), Service (Implementation, Support, Training), End-User (Hospital, Laboratory, Diagnostic Imaging Centers), Region - Global Forecast to 2024", published by MarketsandMarkets™, the Healthcare IT Integration Market is projected to reach USD 5.3 billion by 2024 from USD 3.1 billion in 2019, at a CAGR of 10.9% during the forecast period.
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The increasing need for integration as a result of the rising healthcare costs and the growing volume of data generated in healthcare systems are the major factors driving the growth of this market.
"The services segment is expected to dominate the Healthcare IT Integration Market in 2019."
Services make up a large component of the Healthcare IT Integration Solutions Market due to their indispensable nature. In addition to this, the rising need for simplifying workflows in healthcare organizations; the increasing demand for data standardization; and the growing need to build, design, and implement standardized, interoperable networking platforms are also driving the demand for healthcare IT integration services.
Browse in-depth TOC on "Healthcare IT Integration Market"
107 – Tables
39 – Figures
165 – Pages
"The hospitals segment is expected to grow at the highest CAGR during the forecast period."
Based on end user, the Healthcare IT Integration Solutions Market is segmented into hospitals, laboratories, clinics, diagnostic imaging centers, and other end users. Hospitals are expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the high purchasing power of hospitals to buy advanced healthcare IT integration solutions and the increasing focus on offering high-quality patient care through the use of HCIT solutions.
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"North America to hold the largest regional Healthcare IT Integration Market share in 2019."
North America is expected to account for the largest share of the Healthcare IT Integration Solutions Market in 2019, followed by Europe. The large share of North America can be attributed to the high adoption of healthcare IT technologies, initiatives undertaken by the US Federal government towards improving patient care and reducing healthcare costs, and the growing need for the optimization of healthcare infrastructure.
The prominent players in Healthcare IT Integration Market are Infor (US), InterSystems Corporation (US), Cerner Corporation (US), Orion Health (New Zealand), NextGen Healthcare Inc. (US), iNTERFACEWARE, Inc. (Canada), Allscripts Healthcare Solutions, Inc. (US), Epic Systems Corporation (US), AVI-SPL, Inc. (US), Corepoint Health (US), and MEDITECH (US).
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