Global Healthcare IT Integration Market Size

Healthcare IT Integration Market Analysis

The Global Healthcare IT Integration Market size is estimated at USD 5.19 billion in 2024, and is expected to reach USD 9.08 billion by 2029, growing at a CAGR of 11.85% during the forecast period (2024-2029).

All medical clinics were under stress as a result of the COVID-19 outbreak, and medical facilities all around the world were overflowing from the daily visits of numerous patients. In various nations around the world, the rising incidence of coronavirus disease has increased the demand for precise diagnosis and treatment tools. COVID-19 pandemic has also raised the requirement for the social distance between doctors and patients, which has pushed the usage of remote patient monitoring and telehealth solutions. During the pandemic, many companies launched new platforms and services to fight against the diseases. For instance, in March 2020, Health Gorilla, a leader in clinical data interoperability, announced that COVID-19 test ordering was available through its platform. Any healthcare provider who uses Health Gorilla's web application, a Health Gorilla-partnered developer, or a Health Gorilla-integrated EMR can place COVID-19 test orders and receive test results from LabCorp and Quest. Thus owing to the factors mentioned above COVID-19 had a significant impact on the healthcare IT integration market.

The market is being driven by factors, such as increased adoption of electronic health records and other healthcare IT solutions, demand for telehealth services, and remote patient monitoring solutions. Additionally, one of the primary developments in artificial intelligence (AI) in healthcare is the use of machine learning to analyze enormous amounts of patient data and other information. The patient data is either stored in a software database or electronic medical/health records.

The report from Selecthub in 2021, showed that electronic health record/ electronic medical record (EHR/EMR) utilization rates were 89% in 2021. The same report stated that the healthcare sector was about to undergo significant transformation as a result of technologies like artificial intelligence (AI), blockchain, clinical decision support (CDS), and the presence of tech behemoths like Epic and Cerner. The future of electronic medical records was already being impacted by the quick advancements in technology. AI and virtual assistants like Alexa and Siri are likely to show up in the health IT industries as they become more widely available and potent.

The healthcare IT integration market is therefore anticipated to grow over the forecast period based on the aforementioned aspects. However, the lack of skilled professionals in the healthcare IT field restrains the market growth over the forecast period.