Global Healthcare Information Technology (HIT) Market Analysis and Forecast 2022-2030

Sample on Global Healthcare Information Technology (HIT) Market -
Global Industry Analysis, Size, Share, Growth Opportunities, Future
Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts
2022 to 2030

Copyright @ 2022, Contrive Datum Insights Page 2
Global Healthcare Information Technology (HIT) Market, 2023-
2030
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Research Methodology
Methodology/Research Approach
Our research methodology implements a mix of primary as well as secondary research. Our
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reports, white papers, and paid databases.
Research Programs/Design
Requirement
collection
Feasibility check of
client requirements
Draft of
deliverables
(iterative step)
Approval from
client
Projectinitiation
Secondary
research
Data collection Primary research
Data validation Data analysis
Cross verification
with panel of
experts
Projectdelivery to
the client
Post-delivery
support

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Market Size Estimation
Post the initial data mining stage, we gather our findings and analyse them, Wearable Patch/ Data
Recordering out relevant insights. These are evaluated across teams and by our in-house
Medical. Along with data mining, we also initiate the primary research phase in which we interact
with companies operating within the market space.
To evaluate the wholeness of the market, we interact (via email or telephone) with players who
are responsible in adding value to the final product. Additionally, we interact with related industries
to understand the external factors that can drive/hamper a market. We also make it a point to
evaluate various economic parameters, which typically, have an impact on the purchasing choices
of individuals as well as companies.
Post these stages, data are cross-verified with the companies that operate in a market space. It
is important for us to study these companies in detail, to understand their existing performance
and future strategies which will define the market in the coming years.
All this data is collected and evaluated by our analysts. Post the preparation of the report and
data analysis, the findings are presented to our in-house experts who then eliminate
discrepancies (if any).
 The key players in the industry and markets have been identified through extensive
secondary research.
 The industry’s supply chain and market size, in terms of value, have been determined
through primary and secondary research processes.
 All percentage shares, splits, and breakdowns have been determined using secondary
sources and verified through primary sources.
Data Source
Secondary Sources
In the secondary research process, various secondary sources, such as D&B Hoovers,
Bloomberg Business Week, and Factiva, have been referred to, for identifying and collecting

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information for this study. Secondary sources included annual reports, press releases, and
investor presentations of companies; whitepapers, certified publications, and articles by
recognized authors; gold standard and silver standard websites; regulatory bodies; trade
directories; and databases.
List of secondary sources include but are not limited to:
 Academic Journals
 Census.gov
 Bloomberg
 Company Annual Report
 Hoovers
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously Wearable Patch/
Data Reordered to ensure that only validated and authenticated sources are considered. In
addition, data is also mined from a host of reports in our repository, as well as a number of reputed
paid databases. For comprehensive understanding of the market, it is essential to understand the
complete value chain and in order to facilitate this; we collect data from raw material suppliers,
distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia and trade journals.
Technical data is also gathered from intellectual property perspective, focusing on white space
and freedom of movement. Operation Industry Vertical dynamics with respect to drivers,
restraints, pricing trends is also gathered. As a result, the material developed contains a wide
range of original data that is then further cross-validated and authenticated with published
sources.
Primary Sources
This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews
are conducted, on face to face as well as over the phone to validate our findings and assumptions
used to obtain them. Interviewees are approached from leading companies across the value chain
including suppliers, Component providers, domain experts and buyers so as to ensure a holistic

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and unbiased picture of the market. These interviews are conducted across the globe, with
language barriers overcome with the aid of local staff and interpreters. Primary interviews not only
help in data validation, but also provide critical insights into the market, current business scenario
and future expectations and enhance the quality of our reports. All our estimates and forecast are
verified through exhaustive primary research with Key Operation Industry Vertical Participants
(KIPs) which typically include:
 Market leading companies
 Raw material suppliers
 Operating System distributors
 Buyers
The key objectives of primary research are as follows:
 To validate our data in terms of accuracy and acceptability
 To gain an insight in to the current market and future expectations
Some of the KIPs are mentioned as below:
 Medtronic
 Olympus
 Otsuka Holdings Co., Ltd.
 Etcetera
 Others
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is
created customized for each study. Gathered information for market dynamics, Component
landscape, Sensor Type development and pricing trends is fed into the model and analyzed
simultaneously. These factors are studied on a comparative basis, and their impact over the
forecast period is quantified with the help of correlation, regression and time series analysis.
Market forecasting is performed via a combination of economic tools, technological analysis, and
industry experience and domain expertise.

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Econometric models are generally used for short-term forecasting, while technological market
models are used for long-term forecasting. These are based on an amalgamation of Component
landscape, regulatory frameworks, economic outlook and business principles. A bottom-up
approach to market estimation is preferred, with key regional markets analyzed as separate
entities and integration of data to obtain global estimates. This is critical for a deep understanding
of the industry as well as ensuring minimal errors. Some of the parameters considered for
forecasting include:
 Market drivers and restrains, along with their current and expected impact
 Raw material scenario and supply v/s price trends
 Regulatory scenario and expected developments
 Current capacity and expected capacity additions up to 2026
We assign weights to these parameters and quantify their market impact using weighted average
analysis, to derive an expected market growth rate.
Data Triangulation
Contrive Datum Insights also leverages three Industry Verticals of data triangulation approaches
as follows:
Data Triangulation Techniques
Source: Secondary Literature, Expert Interviews, and Contrive Datum Insights Analysis 2023
Data Source Triangulation
• Extracting data and validation
from multiple type of
secondary and primary
sources
Methodology Triangulation
• Combining various
methodologies to validate
data inputs
Theory Triangulation
• Applying different theories to
check credibility of data sets

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Contrive Datum Insights data modeling tool is an in-house developed tool, which is based on the
fundamental Top Down and Bottom Up approach.
Bottom Up Approach
After arriving at the overall market size using the market size estimation processes as explained
above, the market was split into several segments and sub segments. To complete the overall
market engineering process and arrive at the exact statistics of each market segment and sub
segment, the data triangulation and market breakdown procedures were employed, wherever
applicable. The data was triangulated by studying several factors and trends from both the
demand and supply sides.
Global
Market
Value
Add up all Country Market Sizes
to Derive Regional Market Size
Market Size for a Country = Add up of Total
Company Revenues
Primary: Demand and Supply Side Experts
Secondary: Annual Reports, Presentations,
Press Release, Journals, Paid Databases,
and A2Z Market Research database
Primary: Demand & Supply Side Experts
Secondary: Annual Reports, Presentations,
Press Releases, Journals, Paid Databases,
and A2Z Market Research database
Bottom-upApproach (Segmental Analysis) Global Market

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Top Down Approach
Report Objectives
 To define, describe, and forecast the {Keyword} Market by segments, and region
 To provide detailed information about the major factors (drivers, restraints, opportunities,
and challenges) influencing the growth of the market
 To analyze the sub-segments with respect to individual growth trends, prospects, and
contributions to the total market
 To analyze opportunities in the market for stakeholders and provide the competitive
landscape of the market
 To forecast the revenues of the market segments with respect to the major regions, such
as North America, Europe, Asia Pacific (APAC), Middle East & Africa and South America.
 To profile the key players and comprehensively analyze their recent developments and
positioning in {Keyword} market.
Global Market ($ Million)
Geographical Split
Percent Split for Type and
Application Segments for
Market
Country Split
Global Market Size Through Primaries(Demand and
Supply Side Experts)
Secondary: Annual Reports, Presentations, Press
Release, Journals, Paid Databases, and A2Z Market
Research
Secondary: Annual Reports, Presentations, Press
Release, Journals, Paid Databases, and A2Z Market
Research database
Primary: Demand &and Supply Side Experts
Secondary: Company Websites, Press Releases, and
News Articles
Top-Down Approach (SegmentalAnalysis) Global Market

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 To analyze competitive developments, such as mergers and acquisitions, new product
developments, and Research and Development (R&D) activities, in the market

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Market Overview
Market Synopsis
The market for healthcare information technology is expanding due to a number of factors,
including the growing trend of digitalization in the healthcare industry, the rising demand for
preventative care solutions, the creation of various entrepreneurship initiatives, and increased
alliances and funding. Furthermore, the market is expanding due to developments in network
infrastructure and connectivity, as well as increased spending on healthcare IT.
Important players are concentrated on creative approaches to product creation and are constantly
advancing technology with the help of better IT infrastructure. In order to enhance health and
medical procedures, industry participants are incorporating big data, the internet of things (IoT),
artificial intelligence (AI), and machine learning (ML) algorithms into their current solutions,
which is driving market expansion.
The market size estimations and projections for healthcare information technology (HIT) are
given in terms of sales volume (K units) and revenue (million USD), using historical and forecast
data for the years 2017 through 2030, with 2022 serving as the base year.
This study breaks down the worldwide market for healthcare information technology (HIT) in
great depth. Additionally included are regional market sizes for products broken down by type,
application, and player. The impact of COVID-19 and other worldwide crises was taken into
consideration while assessing the market size.
Significant Healthcare Information Technology (HIT) Market Dynamics and Growth
Factors:
Driver: Increasing big data usage
The healthcare sector has produced terabytes and even petabytes of electronic data in recent
years, mostly as a result of the digitalization of financial, clinical, and administrative data. In the
coming years, volumes are predicted to reach exabytes and even zettabytes due to their
practically yearly doubling. For healthcare practitioners, the diversity of data in addition to its
increasing amount poses significant issues. Compared to other industries, healthcare data is more
difficult due to its length and heterogeneity. Healthcare analytics and data management solutions
are being adopted by service providers more frequently in order to tackle these issues facing the
healthcare sector.
Limitations: Limitations of IT infrastructure in poor nations

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One of the main obstacles to the adoption of healthcare IT systems is cost. These systems have
higher maintenance and software update costs than software cost. Services for upkeep and
support, such as software updates in response to shifting user needs, are ongoing costs that
account for up to 30% of the overall cost of ownership. The cost of ownership of these systems is
further increased by the requirement for end-user training to maximize the efficacy of various
healthcare IT solutions due to the absence of internal IT knowledge in the healthcare sector. The
infrastructure required to execute healthcare IT solutions must also be built with money, which
drives up the cost of implementing these solutions in healthcare systems in emerging nations.
Consequently, rather than investing in ancillary departments, hospitals frequently choose to fund
key technologies that have a direct bearing on the standard of patient care. Consequently, small
healthcare organizations are discouraged from investing in healthcare IT systems due to high
implementation and maintenance costs, especially in growing economies in Latin America and
Asia Pacific.
Request Sample Copy of Report “Global Healthcare Information Technology (HIT) Market
Analysis and Forecast 2022-2030”, published by Contrive Datum Insights.
By Region:
Geographically, the Middle East & Africa (MEA), North America, Europe, Asia Pacific, Latin
America, and South America have all been included in the analysis of the worldwide Healthcare
Information Technology (HIT) market.
In 2020, the healthcare IT market in Asia Pacific held a dominant position, accounting for over
60% of the market. Over half of the world's population resides in Asia Pacific, creating a
massive market base. The healthcare IT industry in Asia Pacific is seeing expansion due to
several macroeconomic variables, including increased internet penetration, fast-paced lifestyles,
rising disposable income, and growing smartphone adoption.
Additionally, because of the robust economic expansion in the area, nations like China and India
are presenting market participants with encouraging growth potential. This can be linked to the
increasing number of governmental and private projects aimed at automating and digitizing the
tasks performed by various healthcare institutions, such as pharmacies, hospitals, assisted living
facilities, and other related organizations.
Over the course of the projected period, North America is anticipated to increase at the fastest

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rate. The North American healthcare IT industry has experienced significant expansion due to a
number of factors, including rising internet penetration, better access to digital technologies,
rising purchasing power, and rising usage of smart devices.
Industry News
• In an effort to improve clinical and operational performance at Bassett and to provide patients
in Central New York with convenient, cost-effective healthcare, Optum and Bassett Healthcare
Network joined forces in May 2021.
• Cognizant and Aker Solutions joined together in June 2021 to modernize and streamline the
company's whole IT infrastructure, which includes application development and maintenance as
well as the business technology network.
• To improve results and healthcare economics for vulnerable health communities, Change
Healthcare and Amazon Web Services announced the launch of a new Data Science as a Service
(DSaaS) platform in March 2021.
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Market Scope
On the basis of By Component, the market has been segmented as follows:
 Hardware
 Software
 Services
On the basis of By Product, the market has been segmented as follows:
 Healthcare Provider Solutions
 Healthcare Payer Solutions
 HCIT Outsourcing Services

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On the basis of By End User, the market has been segmented as follows:
 Healthcare Providers
 Healthcare Payers
On the basis of Companies
Optum (US), Cerner (US), Cognizant (US), Change Healthcare (US), Philips Healthcare
(Netherlands), Epic Systems (US), Dell Technologies (US), Allscripts (US), GE Healthcare (US),
IBM (US), athenahealth (US), eClinicalWorks (US), Oracle Corporation (US), Conduent (US),
Infor (US), Tata Consultancy Services (India), Wipro Limited (India), Conifer Health (US), Nuance
(US), 3M (US), Inovalon (US), InterSystems (US), Carestream Health (US), Orion Health (US),
Practice Fusion (US), and SAS Institute (US)
On the basis of Geography
 NORTH AMERICA
 EUROPE
 ASIA PACIFIC
 MIDDLE EAST AFRICA
 SOUTH AMERICA
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