The Business Research Company's Healthcare Technology Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
What Trajectory Is The Healthcare Technology Market On For The Future?
The healthcare technology market size is predicted to witness exponential growth over the next few years. Expected to attain the value of $1251.38 billion by 2029, the market is set to progress at a compound annual growth rate CAGR of 20.6%. This projected growth for the forecast period can be accredited to factors such as value-based care, a growing focus on preventive healthcare, advances in interoperability and data exchange, and burgeoning development of healthcare infrastructure- among others. Key upcoming trends also comprise the integration of 5G technology in healthcare and progressive innovation in health information systems.
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What Is The Speculated Growth Driver For The Healthcare Technology Market?
The surge in demand for preventive care solutions is anticipated to boost the growth of the healthcare technology market. These solutions aim to detect or mitigate serious diseases and medical issues before they escalate into major health concerns. Preventive aids that prop up the market include annual health check-ups, immunizations, flu shots, and various tests and screenings.
Who Are The Major Players In The Healthcare Technology Market?
Key industry players operating in the healthcare technology market encompass McKesson Corporation, IBM Watson Health, Oracle Corporation, Hewlett-Packard Enterprise Company, Siemens Healthineers AG, Cognizant Technology Solutions Corporation, Koninklijke Philips N.V., General Electric Company GE Healthcare, Epic Systems Corporation, Infor Corporation, Teladoc Health Inc., Agfa-Gevaert Group NV, Athenahealth Inc., Nuance Communications Inc., Carestream Health Inc., Change Healthcare Corporation, Allscripts Healthcare Solutions Inc., eClinicalWorks Inc., NextGen Healthcare Inc., Health Catalyst, Imprivata Inc., NantHealth Inc., E-MDS Inc., Prognos Health Inc., Airstrip Technologies Inc., Ambra Health LLC, Zebra Medical Vision Inc., Validic Inc., 3M Health Information Systems.
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What Are Emerging Trends In The Healthcare Technology Market?
Core companies operating in the healthcare technology market are shifting their focus towards innovative technologies such as large language model LLM solutions in an effort to sustain their market position. LLM solutions are advanced AI systems that leverage extensive neural networks trained on extensive databases to understand, generate, and manipulate human language for diverse applications- be it chatbots, content creation, or language translation.
How Is The Healthcare Technology Market Segmented?
The healthcare technology market is segmented on various bases including:
1 By Type: Healthcare Payers Solutions, Healthcare Providers Solutions, HCIT Outsourcing Solutions.
2 By Component: Software, Hardware.
3 By Delivery Mode: On-Premise, Cloud-Based.
4 By Application: Electronic Health Records, Computerized Provider Order Entry Systems, Electronic Prescribing Systems, PACS Picture Archiving and Communication System, Laboratory Information Systems, Clinical Information Systems, Tele-healthcare.
Additionally, the sub-segments encompass:
1 By Healthcare Payers Solutions: Claims Management Systems, Billing And Payment Systems, Fraud Detection And Prevention Solutions, and more.
2 By Healthcare Providers Solutions: Electronic Health Records EHR Systems, Practice Management Software, Telemedicine Solutions, etc.
3 By HCIT Outsourcing Solutions: IT Infrastructure Management, Data Migration Services, IT Helpdesk And Support Services, among others.
Which Regions Are The Key Contributors To The Healthcare Technology Market?
In 2024, North America held the lion's share in the healthcare technology market. However, during the forecast period, Asia-Pacific is earmarked to be the fastest-growing region globally. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. Additionally, the nations contributing significantly to the market include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, the USA, Canada, Italy, Spain.
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