North American Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions & HCIT Outsourcing Services), Component (Services, Software, Hardware), End User (Hospitals, ASC, Payers) & Region - Global Forecast to 2

North American Healthcare IT Market by Products & Services (Healthcare Provider Solutions, Healthcare Payer Solutions & HCIT Outsourcing Services), Component (Services, Software, Hardware), End User (Hospitals, ASC, Payers) & Region - Global Forecast to 2027

The North American healthcare IT market is projected to reach USD 496.7 billion by 2027 from USD 193.2 billion in 2022, at a CAGR of 20.8% during the forecast period. Growth in this market is driven by the growing government initiatives to support healthcare IT solutions, high returns on investment associated with healthcare IT solutions, and need to curtail escalating healthcare costs. However, increased data security concerns, reluctance among medical professionals to adopt advanced healthcare IT tools are challenging the growth of this market.

“The telehealth solutions segment is projected to be the largest segment in the clinical North American healthcare IT market”

Based on the type of clinical HCIT solutions, the telehealth solutions segment is projected to be the largest segment during the forecast period. This is majorly attributed to the government initiatives for eHealth across the globe, the increasing need to improve the quality of care, growing consolidation among healthcare providers, and the rising adoption of digital and connected healthcare technologies. The demand for healthcare services and increased adoption of predictive analytics are also expected to fuel the growth of this segment.

“Healthcare Providers was the largest segment by the end user of North American healthcare IT market in 2021”

Healthcare providers segment is projected to grow at the highest growth rate in the North American healthcare IT market in 2021. Growing need to curtail healthcare costs, rising need for better financial outcomes, healthcare reforms, and the need to improve patient care while increasing operational efficiency is expected to drive the demand for healthcare IT services in the coming years.

“Mexico to witness the highest growth rate during the forecast period.”

The Mexican healthcare IT market is projected to grow at the highest CAGR during the forecast period. Market growth in the country is mainly driven by factors such as the dramatic cost differences for some procedures between Mexico and the US and the emphasis on rehabilitative care following surgery.

The break-down of primary participants is as mentioned below:

By Company Type - Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%

By Designation - C-level: 40%, Director-level: 35%, and Others: 25%

By Region - US: 75%, Canada: 20%, Mexico: 5%.

Key players in the North American healthcare IT market

The key players operating in the North American healthcare IT market include Cerner Corporation (US), Veradigm, Inc. (Allscripts Healthcare Solutions, Inc.) (US), Mckesson Corporation (US), Koninklijke Philips N.V. (Netherlands), Optum, Inc. (US), Oracle (US), Change Healthcare (US), Cognizant (US), GE Healthcare (US), Siemens Healthineers (Germany), Epic Systems Corporation (US), Athenahealth (US), Infor (US), Dell Technologies, Inc. (US), CVS Health (US), IBM (US), EClinical Works (US), Nextgen Healthcare, Inc. (US), Greenway Health, LLC (US), Nvidia Corporation (US).

Research Coverage:

The report analyzes the North American healthcare IT market and aims to estimate the market size and future growth potential of various market segments, based on product & services, components, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market.