U.S. Healthcare IT Market to Reach $344.07 Bn, by 2030, at 13.4% CAGR: Allied Market Research

Press Releases

Jun 20, 2022

PORTLAND, Ore., June 20, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “U.S. Healthcare IT Market By Product Type (Healthcare Provider Solutions, Healthcare Payer Solutions, and HCIT Outsourcing Services) and End User (Healthcare Providers and Healthcare Payers): Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the U.S. healthcare IT industry was estimated at $96.93 billion in 2020, and is anticipated to hit $344.07 billion by 2030, registering a CAGR of 13.4% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Rise in demand for quality healthcare services & solutions, surge in acceptance of mHealth & telehealth practices, growing emphasis toward improved patient safety & patient care, and increase in government initiatives to promote healthcare IT drive the U.S healthcare IT market. Furthermore, increase in prevalence of chronic diseases such as hypertension, diabetes, and cancer boosts the demand for advanced and safer treatments such as mHealth application for blood pressure monitoring, patient health analyzing software, and telehealth services, which has supplemented the growth yet more. Moreover, rise in integration of artificial intelligence (AI) for development of advanced healthcare devices has created a number of lucrative opportunities in the industry.

Covid-19 Scenario-

The Covid-19 pandemic heightened the demand for healthcare IT solutions to offer effective services to patients through locations. This, in turn, impacted the U.S. healthcare IT market positively.
Also, growing inclination toward virtual health monitoring and increase in use of telehealth propelled the market growth in several ways.

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The healthcare provider solutions segment to dominate by 2020-

Based on product type, the healthcare provider solutions segment contributed to nearly three-fifths of the U.S. healthcare IT market in 2020, and is expected to lead the trail by 2030. The same segment would also register the fastest CAGR of 13.95% throughout the forecast period. This is due to increase in demand for accurate health record systems and advancements in the healthcare IT sector.

The healthcare providers segment to maintain the dominant share-

Based on end-user, the healthcare providers segment accounted for nearly three-fourths of the U.S. healthcare IT market revenue in 2020, and is anticipated to rule the roost by the end of 2030. The same segment would also manifest the fastest CAGR of 13.59% during the forecast period. This is attributed to high demand for advanced and accurate healthcare services, rise in prevalence of chronic diseases, and increase in number of top players across the province.

Key players in the industry-

Allscripts Healthcare Solutions, Inc.
Eclinicalworks
GE Healthcare
Koch Industries
International Business Machines Corporation
Greenway Health, LLC
SAS Institute Inc.
HealthStream, Inc
3M
athenahealth, Inc

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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