Integration of healthcare information provides great benefits when it comes to retrieving, storing, collecting, analyzing, and transferring the medical records of the individuals as well as groups of patients. As a result, hospitals, nursing homes and such other healthcare institutes are adoption healthcare information technology. The global healthcare integration market is influenced by growing need for data integration and growth in the number of healthcare organizations. Growing awareness of developing countries towards health and wellbeing also plays major role in the demand and revenue patterns in the market. Advancing technologies in the developed regions also have key role to play in the current market scenario, which is expected to remain the same for the years to come.
Scope of Research for HCIT Integration Market
The global healthcare information technology integration market is segmented on the basis of the types of products, services, applications and geographic regions. Following are the details of the sub-segmentation in the market:
- Products: integration/interface engines, media integration services, device integration services, and other integration services
- Services: Training services, implementation services, support services, maintenance services, and other integration services
- Applications: Internal (equipment, hospital, laboratory, radiology, centers, etc.) and external integration including private and public HIE
- Geography: North America, Europe, Asia, and rest of the world
Hospitals, nursing homes, and other healthcare institutes have great demand for these integration solutions for healthcare services. The global healthcare IT integration market is strongly influenced by growing need for integration and continually increasing number of hospitals and healthcare organizations are primarily driving growth in the industry. Increasing awareness about health and wellbeing, especially in emerging regions like Asia Pacific, Latin America, and Middle East is also helping the industry gain momentum in terms of demand and global presence. North America on the other hand has emerged as the strongest driver for the HCIT integration market. North America, and especially United States of America holds maximum shares in the global market, which is a great sign for the existing businesses in the industry.
According to the latest market research reports, the global healthcare IT integration market is expected to grow at a CAGR of over 9% to reach $2,745.9 million by the end of the year 2018. According to the same reports, the market was worth around $1737.3 million in the year 2013. The forecasting reports are highly positive for the global industry, which is currently dominated by North America and especially USA. As per the reports, US held around 86% of total market shares of the North American market. America is followed by Europe with a market share of over 20%.