South Korea Healthcare IT Market Scenario on Growth Analysis along with Key Industry Players

 


The global healthcare IT market is segmented based on product type, end user, and region. Based on product type, the healthcare IT market is segmented into healthcare provider solutions, healthcare payer solutions, and healthcare IT outsourcing services. Healthcare provider solutions accounted for the largest market share of 16.3% in the global healthcare IT market in 2020.

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Asia-Pacific's dominance is attributed to the growing demand for patient safety and high penetration of healthcare IT solutions and stringent healthcare reforms and regulations, well-established healthcare systems and the presence of leading healthcare providers. IT players in the region. North America is likely to be the fastest growing region at a rate of 16.2% during the forecast period.

Protecting the confidential information related to patients or healthcare organizations is the biggest challenge for companies, thus data security and privacy issues hinder the growth of the market. The healthcare IT market in North America is in the maturing stage while the market is likely to create opportunities in the Asia-Pacific region.

Healthcare IT involves the creation, development, design, and maintenance of information systems for the healthcare industry. The market is experiencing significant growth due to increase in demand for quality healthcare and solutions, increase in acceptance of mHealth and telehealth practices, increased demand for improved patient safety and patient care, increase in government initiatives to promote HCIT, and increase in adoption Cloud Technologies in Healthcare.

Key Findings:

The healthcare provider segment held the largest market share in 2020, while the healthcare payer segment is expected to grow at the highest CAGR of 10.2% from 2020 to 2030.

Asia-Pacific is expected to experience the highest rate of growth, registering a CAGR of 18.5% during the forecast period. On the other hand, North America is expected to lead the market during the forecast period.

The healthcare provider solutions segment accounted for the largest healthcare IT market share in 2020, while the healthcare payer solutions segment is expected to grow at the highest CAGR of 8.1% from 2020 to 2030.

The major players in the Healthcare IT Market:

·        McKesson Corporation,

·        Allscripts Healthcare Solutions, Inc.,

·        Athenahealth, Inc.,

·        Epic System Corporation,

·        General Electric Company,

·        Cerner Corporation,

·        Oracle Corporation,

·        Koninklijke Philips N.V.,

·        UnitedHealth Group

·        Infor, Inc.

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