Healthcare IT - Executive Summary Report
- The Global Healthcare in IT Market is estimated at USD 185 Bn in 2020 and is expected to reach USD 372 Bn by 2025 growing at a CAGR of 15%.
- In 2020, North America accounted for the largest market share of over 40%. The rising adoption and implementation of IT services and solutions by healthcare providers for delivering enhanced patient care at lower expenses are the key factors driving the regional market.
- Asia-Pacific is expected to maintain its dominance in growth rate during the forecast period due to three major countries of Asia-Pacific which include the India, Japan and China.
- The prominent players operating in the healthcare IT market include Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare (Netherlands), Epic Systems (US), Dell Technologies (US), Allscripts (US), GE Healthcare (US), IBM (US), Athenahealth (US), Oracle Corporation (US), Conduent (US), Infor (US), Tata Consultancy Services (India), Wipro Limited (India).
- The retail value of the Healthcare IT market in India amounted to approximately $6 Bn in 2020. This was forecast to reach nearly $12.6 Bn by 2025 The CAGR for this sector of the retail market is expected to be around 22% between 2020 and 2025.
- Significant players are undertaking various strategies including mergers & acquisitions and collaborations & partnerships to gain a competitive share in the global health and wellness industry. The most frequent approaches followed by key players are regional expansions and displaying product portfolio.
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