North America Healthcare IT Market Size, Trends, Forecast, and Share Analysis

Rajul123

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The North American healthcare IT industry is projected to grow at a 10% CAGR during the period from 2024 to 2030, with expectations of reaching $344.95 billion by 2030.

Meticulous Research—a top-tier global market research firm—has unveiled a comprehensive report titled “North America Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud), and End User (Hospital, Payer, Ambulatory, Homecare) - Forecast to 2030.”

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5634

According to the report, the North America healthcare IT market is anticipated to grow at a CAGR of 10% from 2024, reaching a market value of $344.95 billion by 2030. This growth will be driven by increasing digital health awareness, government mandates, and financial incentives to adopt healthcare IT (HCIT) solutions. The movement towards value-based care, increasing use of big data in healthcare management, favorable returns on IT investments, and rising cases of chronic diseases further fuel this expansion. However, the market faces challenges due to high installation and maintenance costs. Nevertheless, the shift toward cloud-based solutions and the growing integration of AI and IoT technologies in healthcare present significant growth opportunities. Still, data security concerns and interoperability challenges remain obstacles to overcome.

Key Players

Leading organizations in the North America healthcare IT market include:

McKesson Corporation (U.S.)
Optum Health (U.S.)
International Business Machine Corporation (IBM) (U.S.)
Allscripts Healthcare Solutions, Inc. (U.S.)
athenahealth, Inc. (U.S.)
Epic Systems Corporation (U.S.)
Dell Technologies Inc. (U.S.)
GE HealthCare Technologies Inc. (U.S.)
Cerner Corporation (U.S.)
Oracle Corporation (U.S.)
Cognizant Technology Solutions Corporation (U.S.)
Nuance Communications, Inc. (U.S.)
eClinicalWorks (U.S.)
NextGen Healthcare, Inc. (U.S.)
Computer Programs and Systems, Inc. (CPSI) (U.S.)
Conifer Health Solutions, LLC (U.S.)
3M Company (U.S.)
Koninklijke Philips N.V. (The Netherlands)
Infor, Inc. (U.S.)
among others.

North America Healthcare IT Market: Future Outlook

The North America healthcare IT market is segmented by Product into the following categories:

Healthcare IT Provider Solutions, including clinical solutions like Electronic Health Records (EHR), PACS & VNA, Clinical Decision Support Systems (CDSS), ePrescribing Systems, and more. Non-clinical solutions encompass Pharmacy Information Systems, Revenue Cycle Management (RCM), Healthcare Information Exchanges, Supply Chain Management, Healthcare Analytics, and Customer Relationship Management solutions.
Healthcare Payer Solutions, including Claims Management, Fraud Analytics, Provider Network Management, Pharmacy Audit, and Population Health Management solutions.
Healthcare IT Outsourcing Services, covering both provider and payer outsourcing services, such as Revenue Cycle Management, Document Management, and IT Infrastructure Management services.
Delivery Mode: Web/Cloud-Based and On-premise solutions.
Component: Services, Software, and Hardware.
End User: Healthcare Providers (hospitals, ambulatory centers, home care, diagnostic centers, and pharmacies), Healthcare Payers (public and private payers), and Country-specific segmentation. The report also reviews competitors and evaluates their market share on a country level.

In 2024, the North America healthcare IT solutions market will see strong demand in the healthcare provider solutions segment, driven by a focus on integrated healthcare, patient safety, and improved care. Significant government initiatives supporting eHealth adoption will also play a crucial role.

In terms of market components, the services segment is expected to account for the largest market share in 2024. This growth is influenced by higher investments in healthcare infrastructure, especially following the COVID-19 pandemic, as more institutions adopt digital health technologies.

By 2024, cloud/web-based delivery models will dominate the market. Cloud-based solutions offer enhanced security features like encryption and data backups, making them appealing to healthcare organizations. Flexibility in storage, automatic backup, scalability, and ease of access further contribute to the rising adoption of cloud/web-based software.

In the end-user segment, healthcare providers will capture the largest share in 2024 due to growing demand for healthcare IT solutions amidst the physician shortage in North America. Data from The Complexities of Physician Supply and Demand: Projections From 2019 to 2034 indicates that the U.S. will face a shortage of 37,800 to 124,000 physicians, with 17,800 to 48,000 of them being primary care physicians. This situation makes IT solutions vital for enhancing care delivery.

Geographic Review

This research analyzes the healthcare IT market across North America, primarily focusing on the U.S. and Canada. The U.S. is projected to dominate the North American market in 2024, driven by rising adoption of healthcare IT services, increasing elderly populations, higher healthcare spending, and the growing prevalence of chronic conditions. The presence of key market players offering advanced healthcare IT solutions also ensures the U.S. maintains its leadership in the region.

To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/north-america-healthcare-it-market-5634

Key questions answered in the report:

Which are the high-growth market segments in terms of product, component, delivery mode, end user, and country?
What was the historical market for healthcare IT across North America?
What are the market forecasts and estimates for the period 2024–2030?
What are the major drivers, restraints, opportunities, and challenges in the North America healthcare IT market?
Who are the major players in the North America healthcare IT market?
How is the competitive landscape, and who are the market leaders in the North America healthcare IT market?
What are the recent developments in the North America healthcare IT market?
What strategies are adopted by the major players in the North America healthcare IT market?
What are the geographical trends and high-growth countries?