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Published Date: 2016-03-11Number of Pages: 90

Healthcare IT Outsourcing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2024

The global healthcare IT outsourcing market has registered a significant rise over the last decade. The cost-efficiency these outsourcing solutions offer to healthcare providers, as well as payers, has increased their adoption across the world in the recent times. The growing need for an enhanced level of IT convergence with reduced costs, improved productivity, and a higher level of patient satisfaction is likely to drive their demand substantially over the coming years.

In 2014, the market’s opportunity was worth US$34 bn, which is expected to rise at a CAGR of 6.70% between 2015 and 2023 and reach an estimation of US$61.2 bn by the end of the forecast period.

Healthcare Administration to Remain Dominant Application Area of Healthcare IT Outsourcing

Healthcare administration, IT infrastructure management, and care management are the three main application areas of healthcare IT outsourcing. In 2014, these services were mostly utilized in administration, which held a share of nearly 37% in their overall application.

The immense growth of the patient pool and the rising investments in healthcare infrastructure across the world resulted in the increased number of healthcare administrative processes, such as billing, asset management, operations management, and healthcare data management for both healthcare providers and payers, boosting the application these services in healthcare administration. Analysts expect a continuous growth in this trend over the next few years, ensuring the dominance of this segment.

In terms of revenue, healthcare administration contributed US$12.5 bn in 2014, which is projected to rise up to US$21.5 bn by the end of the forecast period. Apart from this, the demand for healthcare IT outsourcing is also expected to experience robust growth in the care management segment in the coming years.

healthcare-it-outsourcing-market

 

Unmet Medical Need in Asia Pacific to Provide Potential Opportunities to Market Players

Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa are the key regional markets for healthcare IT outsourcing across the world. In 2014, North America led the global market with a share of over 40%. The rise in the initiatives and mandates by governments to make quality healthcare available for people at much lower rates, such as the U.S. Affordable Care Act-2010, has increased the adoption of healthcare IT outsourcing by healthcare providers in this region.

The opportunity in the North America healthcare IT outsourcing market stood at US$13.4 bn in 2014. Expanding at a CAGR of 5.10% during the period from 2015 to 2023, it is likely to worth US$21.2 bn by the end of 2023. Although North America will remain the biggest adopter of this service in the coming years, Asia Pacific is projected to register the fastest rise at a CAGR of 10.50% during the forecast period. The unmet medical needs in developing countries of Asia Pacific is anticipated to provide potential growth opportunities to market players over the next few years.

IBM Corp., Tata Consultancy Services Ltd., Wipro Ltd., Cognizant Technology Solutions, and Accenture Plc lead this market. Other prominent healthcare IT outsourcing solution providers are L&T Infotech, HCL Technologies Ltd., McKesson Corp., Infosys Ltd., and Allscripts Healthcare Solutions Inc.


1. Preface
    1.1. Research Scope
    1.2. Market Segmentation
    1.3. Research Methodology

2. Executive Summary
    2.1. Global Healthcare IT Outsourcing Market Snapshot
    2.2. Global Healthcare IT Outsourcing Market Revenue, 2013 – 2023 (US$ Mn) and Year-on-Year Growth (%)

3. Global Healthcare IT Outsourcing Market Analysis, 2013 – 2023 (US$ Mn)
    3.1. Key Trends Analysis
    3.2. Market Dynamics
          3.2.1. Drivers
          3.2.2. Restraints
          3.2.3. Opportunities
    3.3. Global Healthcare IT Outsourcing Market Analysis, By Application, 2013 – 2023 (US$ Mn)
          3.3.1. Care Management
          3.3.2. Administration
          3.3.3. IT Infrastructure Management
    3.4. Global Healthcare IT Outsourcing Market Analysis, By End-use, 2013 – 2023 (US$ Mn)
          3.4.1. Healthcare Providers
          3.4.2. Healthcare Payers
    3.5. Competitive Landscape
          3.5.1. Market Positioning of Key Players, 2014
          3.5.2. Competitive Strategies Adopted by Leading Players

4. North America Healthcare IT Outsourcing Market Analysis, 2013 – 2023 (US$ Mn)
    4.1. Key Trends Analysis
    4.2. North America Healthcare IT Outsourcing Market Analysis, By Application, 2013 – 2023 (US$ Mn)
          4.2.1. Care Management
          4.2.2. Administration
          4.2.3. IT Infrastructure Management
    4.3. North America Healthcare IT Outsourcing Market Analysis, By End-use, 2013 – 2023 (US$ Mn)
          4.3.1. Healthcare Providers
          4.3.2. Healthcare Payers
    4.4. North America Healthcare IT Outsourcing Market Analysis, By Country, 2013 – 2023 (US$ Mn)
          4.4.1. U.S.
          4.4.2. Rest of North America

5. Europe Healthcare IT Outsourcing Market Analysis, 2013 – 2023 (US$ Mn)
    5.1. Key Trends Analysis 
    5.2. Europe Healthcare IT Outsourcing Market Analysis, By Application, 2013 – 2023 (US$ Mn)
          5.2.1. Care Management
          5.2.2. Administration
          5.2.3. IT Infrastructure Management
    5.3. Europe Healthcare IT Outsourcing Market Analysis, By End-use, 2013 – 2023 (US$ Mn)
          5.3.1. Healthcare Providers
          5.3.2. Healthcare Payers
    5.4. Europe Healthcare IT Outsourcing Market Analysis, By Region, 2013 – 2023 (US$ Mn)
          5.4.1. EU7 (UK, Italy, Spain, France, Germany, Belgium, and Netherlands)
          5.4.2. CIS
          5.4.3. Rest of Europe

6. Asia Pacific Healthcare IT Outsourcing Market Analysis, 2013 – 2023 (US$ Mn)
    6.1. Key Trends Analysis
    6.2. Asia Pacific Healthcare IT Outsourcing Market Analysis, By Application, 2013 – 2023 (US$ Mn)
          6.2.1. Care Management
          6.2.2. Administration
          6.2.3. IT Infrastructure Management
    6.3. Asia Pacific Healthcare IT Outsourcing Market Analysis, By End-use, 2013 – 2023 (US$ Mn)
          6.3.1. Healthcare Providers
          6.3.2. Healthcare Payers
    6.4. Asia Pacific Healthcare IT Outsourcing Market Analysis, By Region, 2013 – 2023 (US$ Mn)
          6.4.1. Japan
          6.4.2. China
          6.4.3. South Asia (India, Pakistan, Bangladesh, & Sri Lanka)
          6.4.4. Australasia (Australia, NZ & Guinea)
          6.4.5. Rest of Asia Pacific

7. Middle East and Africa (MEA) Healthcare IT Outsourcing Market Analysis, 2013 – 2023 (US$ Mn)
    7.1. Key Trends Analysis        
    7.2. MEA Healthcare IT Outsourcing Market Analysis, By Application, 2013 – 2023 (US$ Mn)
          7.2.1. Care Management
          7.2.2. Administration
          7.2.3. IT Infrastructure Management
    7.3. MEA Healthcare IT Outsourcing Market Analysis, By End-use, 2013 – 2023 (US$ Mn)
          7.3.1. Healthcare Providers
          7.3.2. Healthcare Payers
    7.4. MEA  Healthcare IT Outsourcing Market Analysis, By Region, 2013 – 2023 (US$ Mn)
          7.4.1. GCC Countries
          7.4.2. South Africa
          7.4.3. Rest of MEA

8. Latin America Healthcare IT Outsourcing Market Analysis, 2013 – 2023 (US$ Mn)
    8.1. Key Trends Analysis
    8.2. Latin America Healthcare IT Outsourcing Market Analysis, By Application, 2013 – 2023 (US$ Mn)
          8.2.1. Care Management
          8.2.2. Administration
          8.2.3. IT Infrastructure Management
    8.3. Latin America Healthcare IT Outsourcing Market Analysis, By End-use, 2013 – 2023 (US$ Mn)
          8.3.1. Healthcare Providers
          8.3.2. Healthcare Payers
    8.4. Latin America Healthcare IT Outsourcing Market Analysis, By Region, 2013 – 2023(US$ Bn)
          8.4.1. Brazil
          8.4.2. Rest of Latin America

9. Company Profiles
    9.1. Accenture Plc.
    9.2. IBM Corporation
    9.3. Cognizant Technology Solutions
    9.4. Tata Consultancy Services Ltd 
    9.5. Infosys Limited 
    9.6. L&T Infotech 
    9.7. Allscripts Healthcare Solutions, Inc. 
    9.8. McKesson Corporation 
    9.9. HCL Technologies Ltd
    9.10. Wipro Limited

This report provides an analysis of the global healthcare IT outsourcing market for the period 2013 – 2023, wherein the period from 2015 to 2023 comprises the forecast period and 2014 is the base year. Data for 2013 is provided as historical information. The report covers all the major trends and technologies playing a major role in the growth of the healthcare IT outsourcing market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market growth during the said period. The study provides a holistic perspective of the growth of the healthcare IT outsourcing market throughout the forecast period in terms of revenue estimates (in US$ Bn), across different geographies, which include Asia Pacific (APAC), Latin America (LATAM), North America, Europe, and Middle East & Africa (MEA). The report provides a cross-sectional analysis of the global healthcare IT outsourcing market in terms of market estimates and forecasts for all the segments across different geographic regions. 

As a result of the increasing IT outsourcing in healthcare industry, the quality of individual care has increased with greater access to latest means of healthcare IT administration technologies. With the ever-growing patient base across the globe and also due to limited human resources for personalized patient care and rising operational costs, IT outsourcing plays an important role in improving the productivity and quality offered by healthcare providers/payers. With the implementation of customized and advanced outsourced IT platforms, healthcare organizations can focus on their core responsibilities without dedicating their resources to manage IT infrastructure. IT outsourcing also encourages a data driven approach with advanced patient data management and analytics. Large amount of data generated in the healthcare industry is well managed by outsourced IT service providers. The growing demand for affordable care and rising government compliance are supporting factors for the growth of the healthcare IT outsourcing market, globally. As a result of enhanced competition among technology vendors, the standards for healthcare administration are increasing. With growing technology partnerships, the healthcare industry as a whole offers ample opportunities for implementation of high-end IT infrastructure, advanced care, and cost effective administration, which would collectively result in a better healthcare ecosystem worldwide. 

On the basis of applications, the healthcare IT outsourcing market is categorized into care management, administration, and IT infrastructure management. Healthcare IT outsourcing market by end-use is categorized into healthcare providers and healthcare payers. The report also includes competitive profiling of major players associated with the healthcare IT outsourcing market. Important business strategies adopted by them, their market positioning, and recent developments have also been identified in the research report. The companies profiled in the report include Accenture Plc., IBM Corporation, Cognizant Technology Solutions, L&T Infotech, Tata Consultancy Services, Infosys Limited., Allscripts Healthcare Solutions, Inc., McKesson Corporation, HCL Technologies Ltd., and Wipro Limited. Healthcare IT outsourcing vendors are focusing on increasing their market presence through strategic partnerships and development of low-cost advanced solutions. Analytics and cloud are key focus areas of outsourcing service vendors currently. 

The global healthcare IT outsourcing market is segmented as below: 

Healthcare IT Outsourcing Market

By Application

  • Care Management
  • Administration
  • IT Infrastructure Services

By End-use

  • Healthcare Providers
  • Healthcare Payers

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa


 
 
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