Global Healthcare Technology Market Forecast To Reach $1,029.07 Billion By 2028 With 18.7% Annual Growth
The Business Research Company's Healthcare Technology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The healthcare technology market has experienced significant growth in recent years. It is projected to rise from $439.09 billion in 2023 to $518.06 billion in 2024, reflecting a compound annual growth rate (CAGR) of 18.0%. This growth during the historical period can be attributed to rising healthcare costs, a focus on patient-centric care, the need for regulatory compliance and reporting, increased demand for data analytics, and the adoption of telehealth.
What Is the Anticipated Growth Rate and Market Size of the Global Healthcare Technology Market?
The healthcare technology market is anticipated to experience rapid growth in the coming years. It is projected to reach $1,029.07 billion by 2028, with a compound annual growth rate (CAGR) of 18.7%. This growth during the forecast period can be attributed to a shift towards value-based care, an increasing emphasis on preventive healthcare, improvements in interoperability and data exchange, the expansion of remote patient monitoring, and the development of healthcare infrastructure.
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What Is The Primary Growth Driver Of The Healthcare Technology Market?
The increasing demand for preventive care solutions is expected to drive the growth of the healthcare technology market in the future. Preventive care solutions focus on detecting or preventing serious diseases and medical issues before they escalate. Examples of preventive care include annual check-ups, immunizations, flu shots, and various tests and screenings.
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Which Market Leaders Are Behind the Growth of the Healthcare Technology Market?
Key players in the healthcare technology market include McKesson Corporation, IBM Watson Health, Oracle Corporation, Hewlett-Packard Enterprise Company, Siemens Healthineers AG, Cognizant Technology Solutions Corporation, Koninklijke Philips N.V., General Electric Company (GE Healthcare), Cerner Corporation, Epic Systems Corporation, Infor Corporation, Teladoc Health Inc., Agfa-Gevaert Group NV, Athenahealth Inc., Nuance Communications Inc., Carestream Health Inc., Change Healthcare Corporation, Allscripts Healthcare Solutions Inc., eClinicalWorks Inc
What Key Trends Are Impacting The Size Of The Healthcare Technology Market?
Key players in the healthcare technology market are concentrating on innovating new technologies to maintain their competitive edge in the industry.
How Is The Global Healthcare Technology Market Segmented?
1) By Type: Healthcare Payers Solutions, Healthcare Providers Solutions, HCIT Outsourcing Solutions
2) By Component: Software, Hardware
3) By Delivery Mode: On-Premise, Cloud-Based
4) By Application: Electronic Health Records, Computerized Provider Order Entry Systems, Electronic Prescribing Systems, PACS (Picture Archiving and Communication System), Laboratory Information Systems, Clinical Information Systems, Tele-healthcare
Regional Insights: North America Paving the Way in the Healthcare Technology Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Healthcare Technology Market?
Healthcare technology encompasses any IT tools or software aimed at enhancing hospital and administrative productivity, providing new insights into medications and treatments, and improving the overall quality of healthcare services. It includes all medications, technologies, medical and surgical procedures, as well as the organizational and supporting systems that facilitate such treatments.
The Healthcare Technology Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Healthcare Technology Market Report: Trends, Opportunities, Strategies, and More
The Healthcare Technology Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into healthcare technology market size, healthcare technology market drivers and trends, healthcare technology competitors' revenues, and healthcare technology market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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