Healthcare IT Market Trends 2022 | North America, Europe, & APAC Industry Forecasts 2028: Graphical Research

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Pune, India, Nov. 22, 2022 (GLOBE NEWSWIRE) —

The global healthcare IT market size is slated to show tremendous growth during the forecast period, due to integration of artificial intelligence (AI) technology in medical diagnostic tools. The incorporation of interoperable EHRs with AI enables healthcare organizations to enhance patient care by continually monitoring patient’s medical activities. The following are some of the factors expected to support the market trajectory through the upcoming years.

  • Increased adoption of mHealth services in North America

The American population’s gradual proclivity to stay active and healthy is growing, leading to a surge in the adoption of mHealth solutions. The Healthcare Information and Management Systems Society (HIMSS) reports that around 64% of American citizens use an app to track health data. Obesity prevalence among people in the U.S. has increased the use of mHealth devices, including smart watches, for weight control.

Furthermore, recent technological breakthroughs in the field of mHealth devices are boosting industry trends. To increase access to digital healthcare, public authorities in Canada are undertaking a slew of efforts. Ontario recently launched the Digital First for Health strategy, to improve patient experience with the incorporation of digital technologies in healthcare. As digital therapeutics become mainstream and regulatory approvals are established, North America healthcare IT market is estimated to significantly grow in the coming years.

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  • U.S. governments emphasize the use of electronic health records (EHRs)

EHRs enable healthcare practitioners to provide better services by utilizing accurate, up-to-date, and detailed patient information at the point of treatment. They increase patient and provider engagement as well as convenience for both parties by securely exchanging information with patients and other physicians.

The Health Information Technology for Economic and Clinical Health Act (HITECH) emphasized the need interoperable HER adoption in the healthcare system as a critical national goal, and it supported EHR deployment in the United States. The demand for EHRs will increase as software solutions, data mining, and clinical trial management systems become mainstream in the healthcare business.

  • Use of revenue cycle management for financial optimization in healthcare

With the advent of digitization, the need for RCM solutions, which include software tools used to handle financial transactions, has increased significantly. RCM helps healthcare providers improve their cash flow and maximize their income by providing quick payment processing. Leading market participants are attempting to provide innovative and better revenue cycle management solutions.

The increased use of artificial intelligence (AI) technologies in Europe has greatly increased potential of novel healthcare services. AI advancements and pan-European collaborations have provided benefits such as data security and increased productivity. The UK National Health Service (NHS) is collaborating with AI companies in hospitals to improve data management, resulting in more usage of medical IT services.

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  • Adoption of healthcare analytics for improved patient outcomes in Europe

The need for quick and effective healthcare management systems and procedures has accelerated the use of healthcare analytics in Europe. Predictive analytics helps physicians analyze chronic illnesses in patients and prescribe them remedial plans that reduce total medical costs and the frequency of emergency visits.

Various government efforts that promote companies’ investments in big data management services and healthcare data analytics solutions for decision making are boosting market growth. Several factors, such as rising healthcare expenditure and growing need for integrated solutions are increasing the service adoption in the region. It is estimated that Europe healthcare IT industry will be valued at more than USD 185 billion by 2028.

  • Public authorities aim to increase access to advanced healthcare services in Japan

Regional governments in APAC are offering funding for the modernization and advancement of the healthcare industry. The government of Japan, for example, has taken measures for the establishment of Integrated Community Care System, to bridge the gap between the service providers and the patients. Such efforts will bolster the regional landscape for the use of innovative medical technologies.

Rising geriatric population with a higher need for healthcare solutions has augmented the implementation of healthcare IT systems in the region. Innovative medical infrastructure in Japan is augmenting the number of users that deploy online EHR, telehealth, supply chain management and CRM applications.

  • Telehealth brings convenient home care to patients in Asia Pacific

A strong need for cost-effective care, developments in telecommunications, and an aging population in the region are pushing Asia Pacific healthcare information technology market forecast. Telehealth features such as tele homecare and teleconference have allowed patients suffering from chronic conditions to receive treatment from the comfort of their own homes. It has enabled healthcare practitioners to remotely monitor patients living in rural areas.

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To enhance the adoption of EHR users in the region, regional governments have produced several recommendations and standards for the installation of interoperable EHRs. Ping An Good Doctor, China’s biggest online healthcare firm, for example, provides its consumers with an AI-assisted chatbot for simple communication and instruction. The software makes use of artificial intelligence to help patients.

About Graphical Research:

‘Graphical Research’ provides a large collection of market research and industry analysis reports covering healthcare, automotive, oil and gas, pharmaceutical, IT, agriculture, chemicals, and many other sectors, across diverse regions like North America, Europe, Asia Pacific, Latin America, and others. The comprehensive reports we provide are aligned with the key industry trends and insights in specific regional markets. The data we deliver helps our customers make better strategic decisions. Our goal is to offer competitive and quality customized market research reports.