The study involved five major activities to estimate the current size of the Healthcare IT market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to in order to identify and collect information for the study of Healthcare IT Market. It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.
Primary Research
Extensive primary research was conducted after acquiring basic knowledge about the global Healthcare IT market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side (Hospital directors, Hospital Vice Presidents, Department heads, and Critical care specialists ) and supply side (such as C-level and D-level executives, technology experts, product managers, marketing and sales managers, among others) across five major regions—North America, Europe, the Asia Pacific, Latin America, Middle East, and Africa. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews
The following is a breakdown of the primary respondents:
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Tiers of companies are defined on the basis of their total revenues in 2023. Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = < USD 500 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the healthcare IT market. These methods were also used extensively to estimate the size of various subsegments in the market.
The research methodology used to estimate the market size includes the following:
Data Triangulation
After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Healthcare IT Market.
Market Definition
Healthcare Information Technology (HCIT) involves designing, developing, creating, using, and maintaining information systems related to the healthcare industry. Healthcare IT digitizes existing paper-based healthcare systems, ensuring effective care and patient safety. The solutions encompass the use of software, or infrastructure to record, store, protect, and retrieve clinical, administrative, or financial information by healthcare providers, payers, or other end users.
Stakeholders
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Healthcare IT solution providers
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Healthcare IT vendors
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Healthcare IT service providers
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Healthcare payers
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Academic research institutes
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Government institutes
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Market research and consulting firms
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Venture capitalists and investors
Report Objectives
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To define, describe, and forecast the global Healthcare IT market based on solution & service, component, end user, and region.
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To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
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To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall Healthcare IT market
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To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
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To strategically analyze the market structure profile of the key players of the Healthcare IT market and comprehensively analyze their core competencies.
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To forecast the size of the market segments with respect to five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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To track and analyze competitive developments such as product launches and enhancements and investments, partnerships, collaborations, acquisitions, expansions, agreements, sales contracts, and alliances in the Healthcare IT market during the forecast period.
HIGHEST CAGR MARKET IN 2023
US FASTEST GROWING MARKET IN THE REGION
Julia
May, 2022
pls help with your market intelligence to grow and sustain in Healthcare IT market.
Rainer
May, 2022
Looking for detailed Market size valuation pointers of Healthcare IT market from 2022 to 2030.
Peter
Mar, 2022
In what way COVID19 is Impacting the global growth of the Healthcare IT Market?.