Healthcare IT outsourcing to hit $118Bn by 2030: SNS Insider report
TEXAS, UNITED STATES — The healthcare IT outsourcing market is poised for significant growth, with projections indicating a rise from $68.86 billion in 2022 to $118.40 billion by 2030, achieving a compound annual growth rate (CAGR) of 7.01%.
According to a report by market research firm SNS Insider, this surge is attributed to a variety of factors driving the industry forward.
Key drivers include the potential for healthcare IT outsourcing to reduce costs across regions and the lack of internal IT professionals.
The U.S. government’s “Meaningful Use” criteria offer incentives that further stimulate market growth. Alongside operational cost savings and the increasing demand for healthcare IT integration, these elements contribute to improved clinical outcomes and care quality.
Healthcare IT outsourcing restraints and opportunities
Despite the promising growth, the market faces restraints such as the fragmentation of the end-user market, which hampers the development of standard IT platforms, and the rising incidents of data breaches.
The absence of a common platform and performance gaps relative to expectations also present challenges that the market must navigate to maintain its upward trajectory.
However, opportunities abound with the growing role of software architecture-oriented programmers in healthcare system consolidation and the potential of private cloud computing models to address data security concerns. Emerging markets are particularly ripe for successful IT outsourcing ventures.
Regional analysis of healthcare IT outsourcing market
North America currently leads the market in revenue and market share, a trend expected to continue due to advanced IT systems.
Conversely, the Asia Pacific region is projected to experience the fastest growth rate, spurred by increased healthcare spending and rising disposable income.
Key players in healthcare IT outsourcing market
Prominent players in the market include Allscripts Healthcare, Carestream Health, eClinicalWorks, Agfa-Gevaert Group, GENERAL ELECTRIC, Cerner Corporation, and Athenahealth, among others.
