Healthcare IT Integration Market is Expected to Reach $7.1 billion

The healthcare IT integration industry is poised for significant growth in the near future. As healthcare providers continue to invest in digital systems and networks, the need for integration solutions will increase as well. This will create a need for better interoperability standards and data exchange, which will be a major focus of healthcare IT integration.

Additionally, the development of artificial intelligence-based solutions, such as machine learning and natural language processing, will help to automate certain processes and further streamline the integration of healthcare data. Finally, the emergence of blockchain technology could also play an important role in the healthcare IT integration industry, as it could provide a secure, immutable platform for the sharing of patient information.

Healthcare IT Integration market in terms of revenue was estimated to be worth $3.9 billion in 2021 and is poised to reach $7.1 billion by 2026, growing at a CAGR of 12.4% from 2021 to 2026 according to a latest report published by Reportsandmarkets.

• The growth in the healthcare IT integration market is mainly driven primarily by the increased use of connected care technologies during COVID-19, rapid adoption of electronic health records and other healthcare IT solutions, urgent need to integrate patient data into healthcare systems and favourable government policies, funding programs, and initiatives to deploy healthcare IT integration solutions. On the other hand, the interoperability issues and the high cost associated with healthcare IT integration solutions are restraining the growth of this market.
• The healthcare IT integration market has been segmented on the basis of product & service, end-user and region. Based on products, the healthcare IT integration market has been segmented into interface/integration engines, medical device integration software, media integration solutions, and other integration tools, used in system integration.
• Based on services, the healthcare IT integration market is further classified into implementation and integration, support and maintenance; training and education; and consulting services. The services segment accounted for the largest share of the global healthcare IT integration market in 2020. The large share of this segment is attributed to the surging requirement to build, design, and implement standardized, interoperable networking platforms.
• Furthermore, support and maintenance services accounted for the largest share in the services segment. These services are key in helping healthcare organisations comply with regulations related to healthcare IT integration, which drives the growth of the support and maintenance services segment.
• North America accounted for the largest share of the Healthcare IT integration market in 2020. This can be attributed to the growing demand to curtail the soaring healthcare costs and the rising need to improve the overall efficiency of healthcare organizations in the region.
• Market growth in North America is further propelled by the availability of government funding for healthcare providers for the development of state-wide and nationwide healthcare information exchanges in the US, rising preference for telehealth solutions and home healthcare facilities due to the growing number of COVID-19 patients, and the presence of large hospitals that demand integrated healthcare networks.
• The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The high growth in this regional market can be attributed to the growing patient volume and the rising need for accurate and timely diagnosis and treatment of this disease.

For competitor segment, the report includes global key players of Healthcare IT Integration as well as some small players. At least 6 companies are included