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Global Healthcare IT Integration Market Size, Trends, and Analysis - Forecasts To 2026 By Product (Interface/Integration Engines, Medical Device Integration Software, Media Integration Solutions, Other Integration Tools), By Services (Implementation & Integration, Support & Maintenance, Training & Education, Consulting), By End-User (Hospitals, Laboratories, Clinics, Diagnostic Imaging Centres, Other End Users), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis.
Healthcare IT integration comes under the medical devices category which helps the doctors and physicians to continuously monitor and care for the infants. These devices can be used for checking the blood pressure, feeding medicines and fluids to the babies, or even drawing blood, treating several diseases, and constantly monitoring the health and status of the baby. The healthcare IT integration market has seen considerable traction and a massive increase in adoption across both developed and emerging economies over the past few years. A massive rise in demand for advanced healthcare services, a huge increase in the world's geriatric population, an increase in the prevalence of a variety of chronic diseases, and the subsequent increase in IT intervention in the healthcare sector for quicker and more effective services are driving the demand for the market. However, due to concerns about data protection and high costs associated with healthcare IT integration, the growth of the industry could be limited to a certain extent in the next few years.
Based on the product type, the market is explained into media integration, medical device integration, and interface engine, among others. The medical device integration has the biggest market share as it aims to transfer patient data to healthcare providers safer and quicker. Cerner's CareAware, for example, is a connectivity tool that aims to allow unified interoperability between medical devices, healthcare, and EHR. The devices help to connect financial, clinical, and operational data across the health care IT ecosystem. The increasing global penetration of clinical and non-clinical healthcare IT integration, development of patient monitoring and telehealth services provide significant growth opportunities for market players.
Based on the services offered, the market is categorized into implementation services, training services, and support and maintenance services, among others. The support and maintenance services sector has the largest market share in the services segment and is expected to retain its place throughout the projected period. To focus on their primary business areas, healthcare providers prefer contracting their healthcare IT support & maintenance suppliers or third-party support & maintenance service providers.
The market is considered laboratories, hospitals, and diagnostic imaging centers under the end-user segment. The hospital segment will generate huge revenues and occupies a major chunk of the market. Enhancing healthcare quality, reducing overall healthcare costs, and improving patient safety, are the key factors supporting the segment growth. Due to factors such as long-term cost savings, improved consistency between systems, and flexible order entry with real-time results reporting, laboratories are expected to be the fastest-growing category.
According to the GME analysis, the North American region dominates the global market and continues the trend between 2021-2026. The presence of advanced healthcare infrastructure and presence of prominent vendors such as Intersystem corporation, Infor, NextGen healthcare Inc, and AVI-SPL Inc among others are supporting the regional growth. The growing implementation of these solutions across the hospitals in the US and Canada also driving the market growth. The Asia Pacific region will display a high growth rate between 2021-2026. The favorable government policies, increasing investments in the healthcare sector, adoption of advanced IT healthcare systems and devices are the primary factors propelling the market growth.
InterSystems Corporation, MEDITECH, Allscripts Healthcare Solutions, Inc., Orion Health, Cerner Corporation, AVI-SPL, Inc, NextGen Healthcare Inc, Oracle Corporation, Corepoint Health, GE Healthcare, Koninklijke Philips, iNTERFACEWARE, Inc, Infor, Epic Systems Corporation, and Capsule Technologies Inc among others are the major players sharing maximum revenue in the global market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Healthcare IT Integration Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Healthcare IT Integration Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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