Information technology is used to design, develop and maintain the information in healthcare industry. Information technology offers solutions for data management and security of healthcare information. Information technology has great impact on healthcare cost, safety and quality. Electronic healthcare records, electronic medical records and personal health records are the widely used applications in the healthcare industry. Factors such as growing medical tourism, rise in aging population, rising prevalence of chronic diseases and growing demand for advance medications are driving the market growth. Financial support from governments and reduction in medical errors help the healthcare information technology market to grow.
Healthcare information technology (HIT) market is segmented based on types into hardware, software and services. Based on components it is segmented into electronic medical records (EMR), computerized physician order entry (CPOE), and clinical decision support (CDS). The market is also segmented based on geography. Advancement in medical facilities has increased the scope of medical tourism in developing economies, which has influenced the growth of healthcare information technology market. Whereas, healthcare information technology has limited geographic reach, which affects the market growth. Healthcare Information Technology still lacks its presence in rural areas of developed as well as developing regions. However, the healthcare information technology market is expected to grow due to growing technical awareness and increasing national capital income of regions such as Asia-Pacific. Wipro, ICT health, McKesson and Philips electronics are the major players in the healthcare information technology market.
The Global healthcare information technology market is segmented based on types, components and geography.