North America Healthcare IT Market to be Worth $344.95 billion by 2030

North America Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud), and End User (Hospital, Payer, Ambulatory, Homecare)- Forecast to 2030

Meticulous Research– a leading global market research company, published a research report titled “North America Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud), and End User (Hospital, Payer, Ambulatory, Homecare) - Forecast to 2030”.

According to this latest publication from Meticulous Research, the North America healthcare IT market is expected to grow at a CAGR of 10% from 2023 to reach $344.95 billion by 2030. The key factors driving the North America Healthcare IT market are the increasing awareness about digital health, government mandates and financial incentives for the adoption of HCIT solutions, the shift towards value-based care, rising use of big data in healthcare management, high return on IT investment in the healthcare industry, and rising incidence of chronic diseases. However, high installation & maintenance cost is restraining the market growth to a certain extent. Growing focus on cloud-based solutions and rising adoption of AI and IoT in healthcare are creating opportunities for market growth. Interoperability issues and data security and privacy concerns are challenging market growth.

Key Players

The key players operating in the North America healthcare IT market are McKesson Corporation (U.S.), Optum Health (U.S.), International Business Machine Corporation (IBM) (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), athenahealth, Inc. (U.S.), Epic Systems Corporation (U.S.), Dell Technologies Inc. (U.S.), GE HealthCare Technologies Inc. (U.S.), Cerner Corporation (U.S.), Oracle Corporation (U.S.), Cognizant Technology Solutions Corporation (U.S.), Nuance Communications, Inc. (U.S.), eClinicalWorks (U.S.) NextGen Healthcare, Inc. (U.S.), Computer Programs and Systems, Inc. (CPSI) (U.S.), Conifer Health Solutions, LLC. (U.S.), 3M Company (U.S.), Koninklijke Philips N.V. (The Netherlands), and Infor, Inc. (U.S.), among others.

North America Healthcare IT Market: Future Outlook

The North America healthcare IT market is segmented by Product {Healthcare IT Provider Solutions [Clinical Healthcare IT Solutions (Electronic Health Record (EHR), PACS & VNA, Computerized Physician Order Entry, Clinical Decision Support System (CDSS), E-Prescribing system, Patient Engagement Solutions, Radiology Information Systems (RIS), Radiation Dose Management Solutions, Specialty Information Management Systems, Medical Image Analysis Systems, Population Health Management Solutions, Care Management Systems, Patient Registry Software, Laboratory Information Systems, mheath Solutions, Telemedicine, HCIT Integration Systems, Infection Surveillance Solutions, and Practice Management Systems), Non-clinical Healthcare IT Solutions (Pharmacy Information Systems, Healthcare Asset Management Solutions, Healthcare Workforce Management Solutions, Revenue Cycle Management Solutions (Front-End RCM Solutions, Mid-RCM Solutions, and Back-End RCM), Medical Document Management Solutions, Healthcare Information Exchanges, Supply Chain Management Solutions, Healthcare Analytics (Clinical Analytics, Financial Analytics, Operational and Administrative Analytics), Customer Relationship Management Solutions (Medication Management Solutions, (Electronic Medication Administration Software, Barcode Medication Administration Systems, Medication Inventory Management Systems, and Medication Assurance Systems), Healthcare Quality Management Solutions, Healthcare Interoperability Solutions, and Financial Management Systems (Billing & Accounting)], Healthcare Payers Solutions (Claims Management Solutions, Customer Relationship Management Solutions, Fraud Analytics Solutions, Provider Network Management Solutions, Pharmacy Audit and Analysis Solutions, Member Eligibility Management Solutions, Population Health Management Solutions, and Payment Management Solutions), Healthcare IT Outsourcing Services [Provider HCIT Outsourcing services (Revenue Cycle Management Services, EMR/Medical Document Management Services, Laboratory Information Management Services, and Other Provider HCIT Outsourcing Services), Payer HCIT Outsourcing services (Claims Management Services, Provider Network Management Services, Billing & Accounts Management Services, Fraud Analytics Services, and Other Payer HCIT Outsourcing Services), and Operational HCIT Outsourcing Services (Business Process Management Services, Supply Chain Management Services, and Other Operational IT Outsourcing Services) and IT Infrastructure Management Services}, Delivery Mode (Web/Cloud Based and On-premise), Component (Services, Software, and Hardware), End User [Healthcare Providers (Hospitals, Ambulatory Centers, Home healthcare & Assisted Living Centers, Diagnostic Centers, and Pharmacies), Healthcare Payers (Private payers, Public Payers), and Country. The study also evaluates industry competitors and analyzes their market share at country levels.

In 2023, based on products, the North America healthcare IT solutions market is categorized into healthcare provider solutions, healthcare, payer solutions, and healthcare IT outsourcing services market. In 2023, the healthcare provider solutions segment is expected to account for the largest share of the market. This large share can be attributed to increasing demand for integrated healthcare solutions, growing focus on patient safety & care, rising investments in the development of healthcare infrastructure, increasing demand for quality healthcare, increasing number of government initiatives and regulatory mandates on implementing eHealth solutions, and rising awareness about electronic health records (EHRs).

In 2023, based on components, the North America healthcare IT solutions market is categorized as services, software, and hardware. In 2023, the services segment is expected to account for the largest share of the market. This large share can be attributed to rising investments in the development of healthcare infrastructure and the high adoption of digital health technologies during the COVID-19 pandemic.

In 2023, among the delivery modes, the cloud/web-based solutions segment is expected to account for the largest share of the market. The web-based solutions, or cloud-based solutions, typically offer enhanced security features, such as encryption and regular backups, to ensure the safety and confidentiality of laboratory data. Moreover, the benefits of cloud/web-based software include storage flexibility, automatic backup, high scalability, and easy access, encouraging healthcare organizations to adopt technologically advanced and affordable cloud/web-based healthcare IT solutions.

In 2023, among the end users, the healthcare providers segment is estimated to account for the largest market share due to factors such as a rise in demand for convenient care, along with the unavailability of medical professionals. As per the data from The Complexities of Physician Supply and Demand: Projections From 2019 to 2034, the U.S. faces a projected shortage of between 37,800 and 124,000 physicians, Also, within this period, there is a shortage of 17,800 and 48,000 primary care physicians and 21,000 and 77,100 non-primary care physicians. Thus, shortages of physicians favor adopting Healthcare IT solutions among the providers.

Geographic Review

This research report analyzes major geography and provides a comprehensive analysis of North America (U.S., Canada). In 2023, the U.S. is expected to dominate the North America Healthcare IT market. Factors such as the rising trend of adoption of Healthcare IT services, growing geriatric population, increasing healthcare expenditure, rising number of people with chronic conditions, and the presence of key players offering innovative healthcare IT solutions are responsible for the largest share of the country in North America.

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Key questions answered in the report:

Which are the high-growth market segments in terms of product, component, delivery mode, end user, and country?
What was the historical market for healthcare IT across North America?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, opportunities, and challenges in the North America healthcare IT market?
Who are the major players in the North America healthcare IT market?
How is the competitive landscape, and who are the market leaders in the North America healthcare IT market?
What are the recent developments in the North America healthcare IT market?
What strategies are adopted by the major players in the North America healthcare IT market?
What are the geographical trends and high-growth countries?

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