Considering the current state of the life sciences and healthcare markets, it’s easy to see why investors would want to make investments in these industries. The IPO window is still open, and venture capital funds are expected to increase their investment into healthcare companies. However, despite the slowing economy, the amount of cash and dry powder being invested into healthcare companies is significant. The following five-year forecast reflects the outlook for this sector.
Health care providers are increasingly confronting security threats due to the growing use of mobile devices and information systems.
These devices may contain confidential information, and the data can easily be accessed, altered, or even destroyed by unauthorized individuals. The report analyzes the healthcare IT market and the vendors in it. Some of the leading players include Cognizant, Optum, Change Healthcare, Epic Systems, Dell Technologies, Allscripts, and eClinicalWorks. It also includes companies such as Oracle Corporation, Conduent, Infor, and Tata Consultancy Services. It also contains SWOT analyses of key vendors.
Healthcare IT Outsourcing is a type of outsourced IT service that enables healthcare providers to reduce their costs while increasing patient care. IT outsourcing helps healthcare providers improve patient care, optimize staff efficiency, reduce operational costs, and focus on their core business. Most of the IT services offered by these companies are application-based, including database management, financial services, and infrastructure-related services. Further, the healthcare IT Outsourcing market is highly competitive.
Healthcare providers are expected to dominate this market over the forecast period. This growth is attributed to government initiatives to improve patient care, and a growing need to manage costs and improve efficiency of healthcare services. While healthcare providers are expected to dominate the overall market, the demand for these solutions is expected to grow at a faster rate. The report also identifies key factors driving the growth of healthcare IT. The healthcare IT provider solutions segment is projected to hold the largest share of the overall market in 2018, despite increasing competition among healthcare providers.
A report by Technavio examines the global healthcare information systems market.
The study also includes key vendors in this sphere. Healthcare IT is a system that captures, manages, and provides access to information related to medical services. The healthcare industry has traditionally been slow to adopt advanced information systems, but more physicians and clinics are increasingly adopting electronic health records (EHR) systems, which replace paper-based patient records.
Chinese characters represent the two most prominent trends in the global healthcare and life sciences IT market. Chinese characters include Fa Zhu, Jian Ji Shu, and Na Pin. Various companies are investing in healthcare technologies, focusing on the development of pharmaceutical products, and other medical services. While a large part of the market is dominated by the pharmaceutical industry, healthcare companies are now moving to China as well. The global healthcare and life sciences ITo market is estimated to reach USD 3.5 billion by the end of the forecast period.