WASHINGTON, March 24, 2022 (GLOBE NEWSWIRE) -- According to a new market research report "Healthcare IT Outsourcing Market Size, Share & Trends Analysis Report by Application (Global Provider Outsourcing, Global Payer Outsourcing, Global Life Science Outsourcing, Global Operational Outsourcing), by Industry (Healthcare System, Healthcare Insurance Industry, Pharmaceutical Industry, Clinical Research Organization), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Healthcare IT Outsourcing Market is expected to grow from USD 66,231.90 Million in 2021 to USD 96,098.58 Million by 2028 at a CAGR of 6.40% during the forecast period.
Synopsis:
The outsourcing of IT solutions in the healthcare industry has been developed as an effective solution to the moderate rising cost of healthcare centers and to reach the increasing demand for quality care during the forecast period. The Healthcare IT Outsourcing Market is projected to grow at a highest rate owing to the increasing pressure to reduce healthcare costs globally, and the growing need to manage the cash flow in back-office administration and in IT management systems are the major factors presumed to drive the growth of the Healthcare IT Outsourcing Market in coming years. Moreover, the shortage of in-house IT-trained professionals increased patient-centric and value-based approaches in the healthcare sector, and the focus of government on introducing IT in the healthcare sector are the other major factors boosting the growth of the Healthcare IT Outsourcing Market during the forecast period. The emerging markets in developing countries are providing a huge potential for IT outsourcing during the forecast period. Moreover, the shifting of consumers' focus towards patient-centric systems, and growth in medical tourism in developing countries such as China, Singapore, Thailand, and India are driving the demand for Healthcare IT Outsourcing Market in coming years. Besides, loss of confidentiality and administrative control breakdown are projected to restrict the growth of the Healthcare IT Outsourcing Market. In addition, the expansion of service portfolio, and use of ICD-10 standards for the diagnosis of several new diseases is expected to provide key-opportunity for the growth of the Healthcare IT Outsourcing Market in the coming years.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Healthcare IT Outsourcing market is predicted to grow at a CAGR of roughly 6.40% during the forecast period.
- The Healthcare IT Outsourcing market was estimated to be worth roughly USD 66,231.90 Million in 2021 and is expected to reach USD 96,098.58 Million by 2028; based on primary research.
- On the basis of region, North America is projected to dominate the worldwide Healthcare IT Outsourcing market.
List of Prominent Players in the Healthcare IT Outsourcing Market:
- Accenture Plc. (Ireland)
- Accretive Health, Inc. (U.S.)
- Allscripts Healthcare Solutions, Inc. (U.S.)
- Anthelio Healthcare Solutions (U.S.)
- Cognizant Technology Solutions (U.S.)
- Dell, Inc. (U.S.)
- HCL Technologies (India)
- Hewlett-Packard Company (U.S.)
- International Business Machines (IBM) Corporation (U.S.)
- Infosys Limited (India)
- McKesson Corporation (U.S.)
- Siemens Healthcare (Germany)
- Tata Consultancy Services Ltd. (India)
- Wipro Ltd. (India)
- Xerox Corporation (U.S.)
- Epic System (U.S.)
- Computer Sciences Corporation (U.S.)
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Market Dynamics:
Drivers:
Shortage of in-house IT professionals, reduction in operational costs, and improved quality of care and clinical outcomes are the major factors driving the growth of the Healthcare IT Outsourcing Market during the forecast period. The growing demand of healthcare sectors to integrate healthcare IT solutions in the responsible healthcare organizations to gain improved quality of care and clinical outcomes is the other factor boosting the growth of the Healthcare IT Outsourcing Market during the forecast period.
Challenges:
The cultural differences and language barriers are the major challenges for miscommunication which is hindering the growth of the Healthcare IT Outsourcing Market. A fragmented end-user market limits the growth of standard IT platforms which is expected to hamper the market growth in coming years.
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Regional Trends:
North America is expected to hold the largest share of the Healthcare IT Outsourcing Market in terms of revenue and will continue to grow in the coming years. The growth of the market is mainly attributed to the presence of advanced IT technology, and better reimbursement systems in North America. The United States holds the wide majority of the Healthcare IT Outsourcing Market in North America owing to growth in the adoption of rising investments made by various companies and adoption of digital healthcare centers in the country. Moreover, the increasing outsourcing of local resident companies and the increased number of well-established players in North America are driving the Healthcare IT Outsourcing Market growth during the forecast period. The availability of skilled resources, and low-cost services offerings are some of the key factors driving the growth of North America.
Recent Developments:
On 3rd August 2021, R1 RCM Inc., a leading supplier of technology-enabled revenue cycle management services to healthcare providers, declared the completion of Cerner Rev Work services business as well as commercial non-federal customer connections.
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on "Healthcare IT Outsourcing Market Size, Share & Trends Analysis Report by Application (Global Provider Outsourcing, Global Payer Outsourcing, Global Life Science Outsourcing, Global Operational Outsourcing), by Industry (Healthcare System, Healthcare Insurance Industry, Pharmaceutical Industry, Clinical Research Organization), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/healthcare-it-outsourcing-market-market-715932
The report on the Healthcare IT Outsourcing Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Healthcare IT Outsourcing Market?
- How will the Healthcare IT Outsourcing Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Healthcare IT Outsourcing Market?
- What is the Healthcare IT Outsourcing market drivers and restrictions?
- What will be the CAGR and size of the Healthcare IT Outsourcing Market throughout the forecast period?
This market titled “Healthcare IT Outsourcing Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
| Parameter | Details | ||
| Market Size in 2021 | USD 66,231.90 Million | ||
| Projected Market Size in 2028 | USD 96,098.58 Million | ||
| CAGR Growth Rate | CAGR of 6.40% From 2022 – 2028 | ||
| Market Size Provided for Years | 2016-2028 | ||
| Base Year | 2021 | ||
| Historic Years | 2016-2020 | ||
| Forecast Years | 2022-2028 | ||
| Segments Covered | • | Application | |
| • | Global Provider Outsourcing | ||
| • | Global Payer Outsourcing | ||
| • | Global Life Science Outsourcing | ||
| • | Global Operational Outsourcing | ||
| • | Global Infrastructure Outsourcing | ||
| • | Industry | ||
| • | Healthcare System | ||
| • | Healthcare Insurance Industry | ||
| • | Pharmaceutical Industry | ||
| • | Clinical Research Organization | ||
| • | Biotechnology | ||
| • | Others | ||
| Region & Counties Covered | • | North America | |
| • | U.S. | ||
| • | Canada | ||
| • | Mexico | ||
| • | Europe | ||
| • | U.K | ||
| • | France | ||
| • | Germany | ||
| • | Italy | ||
| • | Spain | ||
| • | Rest Of Europe | ||
| • | Asia Pacific | ||
| • | China | ||
| • | Japan | ||
| • | India | ||
| • | South Korea | ||
| • | South East Asia | ||
| • | Rest Of Asia Pacific | ||
| • | Latin America | ||
| • | Brazil | ||
| • | Argentina | ||
| • | Rest Of Latin America | ||
| • | Middle East & Africa | ||
| • | GCC Countries | ||
| • | South Africa | ||
| • | Rest Of Middle East & Africa | ||
| Companies Covered | • | Accenture Plc. (Ireland) | |
| • | Accretive Health, Inc. (U.S.) | ||
| • | Allscripts Healthcare Solutions, Inc. (U.S.) | ||
| • | Anthelio Healthcare Solutions (U.S.) | ||
| • | Cognizant Technology Solutions (U.S.) | ||
| • | Dell, Inc. (U.S.) | ||
| • | HCL Technologies (India) | ||
| • | Hewlett-Packard Company (U.S.) | ||
| • | International Business Machines (IBM) Corporation (U.S.) | ||
| • | Infosys Limited (India) | ||
| • | McKesson Corporation (U.S.) | ||
| • | Siemens Healthcare (Germany) | ||
| • | Tata Consultancy Services Ltd. (India) | ||
| • | Wipro Ltd. (India) | ||
| • | Xerox Corporation (U.S.) | ||
| • | Epic System (U.S.) | ||
| • | Computer Sciences Corporation (U.S.) | ||
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis | ||
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