Initiatives by Governments is Aiding in the Growth of Global Healthcare IT Through 2025

DELTA, British Columbia - June 13, 2020 - PRLog -- The growth of global healthcare IT market is attributed to the increasing focus of the countries to improve the quality of patient care. The increasing use of Big Data to collect and analyze the patients and clinical data is anticipated to boost the growth of healthcare IT market. According to MarkNtel Advisors' research report "Global Healthcare IT Market Analysis, 2020", the market is projected to propel at a CAGR of around 8.5% during 2020-25. Moreover, the emanating demand for patient safety, data reliability and the sustenance by the governments to encourage IT solutions in healthcare facilities is anticipated to strongly contribute to the growth of the global healthcare IT market in the years to come. For instance: In 2019, the Canadian government awarded a grant of USD 49 million in the Digital Health and Discovery Platform (DHDP). DHDP is a network of partners that pursue to establish a Canada-wide health data platform. The platform would allow researchers and doctors to boost the development of personalized treatments.

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Healthcare Providers are the Market Leaders

The healthcare provider's solutions captured the major market share in the global healthcare IT market in 2019 on account of the mounting awareness about electronic health records (EHRs) for managing hospitals, nursing homes, pharmacies, etc. Besides, the increasing initiatives by the governments to improve the quality of patient care and the requirement to control the accentuating treatment costs are the key factors that are anticipated to strongly contribute to the growth of healthcare provider's solutions across the world. For instance, in 2019, PHC Corporation signed an agreement with the Japan Medical Network Association for the linkage of medical data to establish a platform for the secondary use of medical information securely and appropriately. The clinical solutions controlled in the healthcare provider's solutions market in 2019. However, the non-clinical solutions are expected to grab a significant market share in the forthcoming period due to continuous technological innovations in the field of IT which has led to the development of customized software platforms. Moreover, the hospitals are collaborating with IT firms to incorporate advanced technologies into the facilities.

Key questions answered in the study

1.     What are the current and future trends of the Healthcare IT industry?

2.     How the industry has been evolving in terms of end-user demand and application areas?

3.  How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the Healthcare IT industry?

What are the customer orientation, purchase behavior, and expectations from the Healthcare IT firms across various regions?