The healthcare technology management market was USD 6.92 billion in 2022, and it will propel at a rate of 15.10% to reach USD 21.32 billion by 2030, as per a report by P&S Intelligence. This can be credited to the growing adoption of human-computer interaction and cloud technology, the rising demand for mHealth and telehealth solutions, and the increasing number of chronic diseases.
The introduction of big data solutions in healthcare sectors is one of the key trends in the industry. As a result of rapid digitalization, advanced technology is transforming diagnostic techniques, surgical processes, patient monitoring, storage and collection of medical data, consultations, and treatment planning.
Additionally, the amount of medical and health data is expected to grow significantly in the near future.
Europe had a share of approximately 30%, in the global industry, in 2022. This is credited to the massive investments in research and development, the presence of global players, and the significant adoption of advanced technology solutions.
The industry will also generate various opportunities, because of the presence of advanced healthcare facilities in the U.K. and Germany.
Whereas, the APAC healthcare technology management market is expected to grow the fastest in the future. This can be majorly credited to the increasing number of government initiatives for automating and digitalizing tasks of healthcare organizations and facilities.
Additionally, factors such as growing disposable income, rapid urbanization, and rising users of smartphones are driving the demand in this region.
The growing demand for healthcare solutions is driving the industry. This is due to the increasing adoption of telehealth and mobile health practices, the significant demand for better patient care and safety, the growing adoption of electronic health records and numerous other hospital information systems by healthcare providers, and the mounting requirement for high-quality healthcare services.
During the forecast period, the cloud-based category will have the highest CAGR, of 15.4%. This can be credited to its advantages in reducing operating costs and expenses.
The software category accounted for a larger share in 2022. This is mainly credited to the introduction of more efficient applications for healthcare technology management.
Additionally, the increasing adoption of advanced software for workflow management in numerous healthcare organizations has led to industry growth.
Based on end users, the healthcare providers category held the largest share. This is credited to the growing requirement for different Healthcare Information Technology solutions across hospitals, with a focus on managing the increasing problem of handling patient information in hospitals.
Due to the increasing initiatives to support the adoption of advanced technologies by the government, the growing demand for better patient care, and the increasing incidence of chronic disorders, is powering the industry in the years to come.
