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(Health-NewsWire.Net, April 11, 2020 ) The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.
At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Healthcare IT Consulting Market. We are working diligently to help companies take rapid decisions by studying:
• The impact of COVID-19 on the Healthcare IT Consulting Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Healthcare IT Consulting Market
• The shifting short-term priorities of the top 50 companies’ clients and their client's clients
You can request an in-depth analysis detailing the impact of COVID-19 on the Healthcare IT Consulting Market: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=42622745
The global healthcare IT consulting services market is expected to reach USD 45.42 Billion by 2022 from USD 15.48 Billion in 2016, at a CAGR of 19.8%. The base year considered for the study is 2016 and the forecast period 2017–2022.
Healthcare application analysis, design, and development segment to dominate the market in 2017
Based on type, the global HCIT consulting services market is segmented into HCIT strategy and project/program management; healthcare application analysis, design, and development; HCIT integration and migration; HCIT change management; healthcare/medical system & security set-up and risk assessment; healthcare enterprise reporting and data analytics services; production go-live/post go-live support; healthcare business process management; regulatory compliance; and others consulting services. In 2017, the healthcare application analysis, design, and development segment is expected to account for the largest share of the global HCIT consulting services market. The growth of this segment can be attributed to the fact that IT application analysis, design, and development form the major component of all IT solution implementation projects. Every healthcare facility has different requirements, which need careful designing, development, and implementation of customized solutions.
Based on end user, the healthcare payers segment is projected to register the highest CAGR
Based on end user, the market is segmented into healthcare providers, payers, and other end users. In 2017, healthcare payers segment is expected to witness the highest growth during the forecast period. The high growth rate of this segment can be attributed to factors like growing adoption of healthcare IT solutions by private and public payers, growing need for insurance payers to comply with various federal and regional laws and regulations, and growing focus of payers on reforming their business models for improved patient care delivery.
North America to dominate the market followed by Europe
In 2017, North America is expected to account for the largest share of the market. The large market share of the North American market is attributed to the factors such as government initiatives to enhance adoption of HCIT solutions, increasing government expenditure on HCIT, changing and stringent legislative requirements and accreditations necessary for healthcare IT solutions, growing hospital consolidations, and the presence of a large number of IT solutions and services companies.
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In 2017, Europe is expected to hold the second largest share in this market. Factors such as government initiatives in European countries for eHealth technologies, the need for multi-country integration regarding health information, and growing demand for improving the quality of care through effective utilization of healthcare IT solutions are expected to drive the growth of the market in this region.
The global HCIT consulting services market is highly fragmented with several big and small players. Prominent players in the market include Accenture plc (Ireland), Cognizant Technology Solutions Corporation (U.S.), Deloitte Touche Tohmatsu Limited (U.S.), Cerner Corporation (U.S.), Siemens Healthineers (Germany), McKesson Corporation (U.S.), Epic Systems Corporation (U.S.), IBM Corporation (U.S.), General Electric Company (U.S.), Tata Consultancy Services Limited (India), Koninklijke Philips N.V. (Netherlands), NTT DATA Corporation (Japan), Infor Inc. (U.S.), Allscripts Healthcare Solutions, Inc. (U.S.), and Oracle Corporation (U.S.).
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