Market Overview:
The global healthcare IT outsourcing market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing demand for cost-effective and efficient healthcare services, rising number of hospitals and clinics, and growing adoption of HCIT outsourcing by healthcare providers. The global healthcare IT outsourcing market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into electronic health record (EHR), payer HCIT outsourcing, operational HCIT outsourcing, life sciences HCIT outsourcing, and IT infrastructure Outsourcing. EHR dominates the overall Healthcare IT Outsourcing Market owing to its ability to improve patient care outcomes while reducing administrative costs for providers. Payer HCIT Outsourcing is projected to grow at a high CAGR during the forecast period as payers are increasingly adopting advanced technologies such as big data analytics and cloud-based solutions in order to improve their business efficiency. Operational HCIT Outsourcing covers various activities such as claims processing & billing management; pharmacy benefits management; human resources & payroll processing; supply chain management; revenue cycle management etc., which are critical for smooth functioning of any hospital or clinic operations .On account on application , Healthcare Provider System segment accounted for majority share in 2017 due its ability manage all aspects related with patient care under one roof .
Product Definition:
Healthcare IT Outsourcing is the contracting of specific healthcare-related information technology services to a third party. The importance of Healthcare IT Outsourcing lies in its ability to improve the quality and efficiency of healthcare delivery by providing better access to technology, improving coordination between care providers, and reducing costs.
Electronic Health Record (EHR):
An EHR is a digital record of patient health information which includes diagnosis, treatment regimen, medication and other health-related data. It can be used by multiple doctors, clinicians and hospitals for the purpose of research as well as for providing quality care to patients. The primary function of an EHR is to improve healthcare delivery through streamlining clinical workflow processes such as electronic prescribing and patient engagement via eHealth portals.
Payer HCIT Outsourcing:
Payer healthcare information technology outsourcing is a practice of leasing or renting computer hardware and software to health care providers for their operations. The health care industry has been experiencing rapid change over the past few years, due to technological advancements in terms of data analytics, business intelligence, and cloud computing. With increasing pressure on hospitals from payers such as Medicare and Medicaid to reduce costs while maintaining quality of care; the need for effective management & control over medical expenses is critical.
Application Insights:
The healthcare provider system segment dominated the overall application market in 2017. This can be attributed to factors such as increasing demand for EHRs, growing need for information flow and rising focus on reducing costs. Furthermore, this segment is expected to grow at a lucrative rate over the forecast period owing to increasing investments by government as well as private players in developing countries such as India and China.
The health insurance application segment is also expected to witness significant growth over the forecast period due to various factors including technological advancements that have ledto increased penetration of electronic medical records (EMR). The European Commission has invested approximately USD 270 million in building a Single Electronic Health Records (EHR) Incentive Program which will help promote EHR adoption across Europe thus resulting in an increase of about 25% of total market size by 2030.
Regional Analysis:
North America dominated the global healthcare IT outsourcing market in 2017. The presence of a large number of service providers, favorable regulations and initiatives undertaken by the government to support digitalization are some factors driving this regional market. For instance, in 2014, the U.S Department of Health & Human Services launched an initiative called “Healthcare Information Technology for Economic Transformation (HIT)†which is aimed at accelerating electronic health record adoption across hospitals and clinics as well as between states.
Asia Pacific is expected to grow at a lucrative rate over the forecast period owing to increasing investments from foreign players looking for high growth opportunities with low regulatory burden in this region due to less stringent privacy laws compared to Europe or North America.
Growth Factors:
- Increased focus on cost-effective and efficient healthcare delivery: The global healthcare IT outsourcing market is expected to grow at a CAGR of over 16% during the forecast period. This is primarily owing to the increased focus on cost-effective and efficient healthcare delivery across the globe.
- Rising demand for integrated healthcare solutions: The market is also witnessing a rise in demand for integrated healthcare solutions, which are helping organizations manage various aspects of their operations more effectively.
- Proliferation of big data and analytics in Healthcare IT: Big data and analytics are playing a pivotal role in improving decision making within the Healthcare sector. This is resulting in an increased demand for Healthcare IT outsourcing services that can help organizations make better use of this data to improve patient care outcomes.
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare IT Outsourcing Market Research Report
By Type
Electronic Health Record (EHR), Payer HCIT Outsourcing, Operational HCIT Outsourcing, Life Sciences HCIT Outsourcing, IT Infrastructure Outsourcing
By Application
Healthcare Provider System, Health Insurance, Biotechnology, Pharmaceutical, Clinical Research Organization (CRO), Others
By Companies
Cognizant, Anthelio Healthcare Solutions, Allscripts, Accretive Health, Accenture, McKesson Corporation, Infosys Limited, IBM, HP, HCL Technologies, Dell, Computer Sciences Corporation, Epic System, Xerox
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare IT Outsourcing Market Report Segments:
The global Healthcare IT Outsourcing market is segmented on the basis of:
Types
Electronic Health Record (EHR), Payer HCIT Outsourcing, Operational HCIT Outsourcing, Life Sciences HCIT Outsourcing, IT Infrastructure Outsourcing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare Provider System, Health Insurance, Biotechnology, Pharmaceutical, Clinical Research Organization (CRO), Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Cognizant
- Anthelio Healthcare Solutions
- Allscripts
- Accretive Health
- Accenture
- McKesson Corporation
- Infosys Limited
- IBM
- HP
- HCL Technologies
- Dell
- Computer Sciences Corporation
- Epic System
- Xerox
Highlights of The Healthcare IT Outsourcing Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electronic Health Record (EHR)
- Payer HCIT Outsourcing
- Operational HCIT Outsourcing
- Life Sciences HCIT Outsourcing
- IT Infrastructure Outsourcing
- By Application:
- Healthcare Provider System
- Health Insurance
- Biotechnology
- Pharmaceutical
- Clinical Research Organization (CRO)
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Healthcare IT Outsourcing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Healthcare IT outsourcing is the process of contracting with a third-party company to provide technology and services for healthcare organizations. Healthcare IT outsourcing can include everything from software development to data management and security.
Some of the major players in the healthcare it outsourcing market are Cognizant, Anthelio Healthcare Solutions, Allscripts, Accretive Health, Accenture, McKesson Corporation, Infosys Limited, IBM, HP, HCL Technologies, Dell, Computer Sciences Corporation, Epic System, Xerox.
The healthcare it outsourcing market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Healthcare IT Outsourcing Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Healthcare IT Outsourcing Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Healthcare IT Outsourcing Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Healthcare IT Outsourcing Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Healthcare IT Outsourcing Market Size & Forecast, 2018-2028
4.5.1 Healthcare IT Outsourcing Market Size and Y-o-Y Growth
4.5.2 Healthcare IT Outsourcing Market Absolute $ Opportunity
Chapter 5 Global Healthcare IT Outsourcing Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Healthcare IT Outsourcing Market Size Forecast by Type
5.2.1 Electronic Health Record (EHR)
5.2.2 Payer HCIT Outsourcing
5.2.3 Operational HCIT Outsourcing
5.2.4 Life Sciences HCIT Outsourcing
5.2.5 IT Infrastructure Outsourcing
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Healthcare IT Outsourcing Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Healthcare IT Outsourcing Market Size Forecast by Applications
6.2.1 Healthcare Provider System
6.2.2 Health Insurance
6.2.3 Biotechnology
6.2.4 Pharmaceutical
6.2.5 Clinical Research Organization (CRO)
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Healthcare IT Outsourcing Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Healthcare IT Outsourcing Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Healthcare IT Outsourcing Analysis and Forecast
9.1 Introduction
9.2 North America Healthcare IT Outsourcing Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Healthcare IT Outsourcing Market Size Forecast by Type
9.6.1 Electronic Health Record (EHR)
9.6.2 Payer HCIT Outsourcing
9.6.3 Operational HCIT Outsourcing
9.6.4 Life Sciences HCIT Outsourcing
9.6.5 IT Infrastructure Outsourcing
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Healthcare IT Outsourcing Market Size Forecast by Applications
9.10.1 Healthcare Provider System
9.10.2 Health Insurance
9.10.3 Biotechnology
9.10.4 Pharmaceutical
9.10.5 Clinical Research Organization (CRO)
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Healthcare IT Outsourcing Analysis and Forecast
10.1 Introduction
10.2 Europe Healthcare IT Outsourcing Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Healthcare IT Outsourcing Market Size Forecast by Type
10.6.1 Electronic Health Record (EHR)
10.6.2 Payer HCIT Outsourcing
10.6.3 Operational HCIT Outsourcing
10.6.4 Life Sciences HCIT Outsourcing
10.6.5 IT Infrastructure Outsourcing
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Healthcare IT Outsourcing Market Size Forecast by Applications
10.10.1 Healthcare Provider System
10.10.2 Health Insurance
10.10.3 Biotechnology
10.10.4 Pharmaceutical
10.10.5 Clinical Research Organization (CRO)
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Healthcare IT Outsourcing Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Healthcare IT Outsourcing Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Healthcare IT Outsourcing Market Size Forecast by Type
11.6.1 Electronic Health Record (EHR)
11.6.2 Payer HCIT Outsourcing
11.6.3 Operational HCIT Outsourcing
11.6.4 Life Sciences HCIT Outsourcing
11.6.5 IT Infrastructure Outsourcing
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Healthcare IT Outsourcing Market Size Forecast by Applications
11.10.1 Healthcare Provider System
11.10.2 Health Insurance
11.10.3 Biotechnology
11.10.4 Pharmaceutical
11.10.5 Clinical Research Organization (CRO)
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Healthcare IT Outsourcing Analysis and Forecast
12.1 Introduction
12.2 Latin America Healthcare IT Outsourcing Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Healthcare IT Outsourcing Market Size Forecast by Type
12.6.1 Electronic Health Record (EHR)
12.6.2 Payer HCIT Outsourcing
12.6.3 Operational HCIT Outsourcing
12.6.4 Life Sciences HCIT Outsourcing
12.6.5 IT Infrastructure Outsourcing
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Healthcare IT Outsourcing Market Size Forecast by Applications
12.10.1 Healthcare Provider System
12.10.2 Health Insurance
12.10.3 Biotechnology
12.10.4 Pharmaceutical
12.10.5 Clinical Research Organization (CRO)
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Healthcare IT Outsourcing Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Healthcare IT Outsourcing Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Healthcare IT Outsourcing Market Size Forecast by Type
13.6.1 Electronic Health Record (EHR)
13.6.2 Payer HCIT Outsourcing
13.6.3 Operational HCIT Outsourcing
13.6.4 Life Sciences HCIT Outsourcing
13.6.5 IT Infrastructure Outsourcing
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Healthcare IT Outsourcing Market Size Forecast by Applications
13.10.1 Healthcare Provider System
13.10.2 Health Insurance
13.10.3 Biotechnology
13.10.4 Pharmaceutical
13.10.5 Clinical Research Organization (CRO)
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Healthcare IT Outsourcing Market: Competitive Dashboard
14.2 Global Healthcare IT Outsourcing Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cognizant
14.3.2 Anthelio Healthcare Solutions
14.3.3 Allscripts
14.3.4 Accretive Health
14.3.5 Accenture
14.3.6 McKesson Corporation
14.3.7 Infosys Limited
14.3.8 IBM
14.3.9 HP
14.3.10 HCL Technologies
14.3.11 Dell
14.3.12 Computer Sciences Corporation
14.3.13 Epic System
14.3.14 Xerox
