Healthcare IT Outsourcing Market Expected to Reach USD 122.72 Billion by 2032, Growing at a CAGR of 7.44% Due to Rising Need for Secure and Scalable IT Solutions
Austin, Nov. 12, 2024 -- The global Healthcare IT Outsourcing market is anticipated to reach USD 122.72 billion by 2032, growing at a CAGR of 7.44% during the forecast period 2024-2032, according to S&S Insider. This is driven primarily by the need for specialized IT services in the healthcare sector and organizations' increased willingness to outsource infrastructure outsourcing, EHR management, revenue cycle management, cybersecurity measures, and data analytics.
The trend of adopting telemedicine platforms, AI-powered diagnostic tools, and digital health records makes healthcare IT outsourcing imperative to ensure patient data security and system reliability. Innovations in healthcare IT outsourcing are shifting the focus towards scalable and cost-effective solutions for healthcare organizations facing large volumes of sensitive patient information.
Major Key Drivers of Growth
Some of the growth factors attributed to the increasing investment in healthcare technology that allows for efficient operations and effective patient care while maintaining data security include:
- Increased Healthcare Spending
- Demand for Secure, Scalable IT Solutions
Healthcare IT outsourcing is gaining momentum, driven by the needs of healthcare providers' investments in technologies that enable streamlined operations and efficient treatment while keeping patient data secure.
Notable Players in the Market
- Tata Consultancy Services Limited (TCS)
- Accenture PLC
- Wipro Limited
- Cognizant Technology Solutions
- Hewlett-Packard Enterprise
- IBM Healthcare & Life Science
- Infosys Limited
- NextGen Healthcare
- McKesson Corporation
- Philips
North America dominates the market due to government initiatives such as EHR mandates and telemedicine expansion, making it an essential region for healthcare IT outsourcing. Asia-Pacific is emerging as a quick-growing region driven by digital health technologies' increasing adoption.
Recent Market Developments
Some recent developments in the marketplace include:
- Sonata Software securing an IT outsourcing contract with a US Premier Healthcare & Wellness Company.
- Accenture acquiring Nautilus Consulting, strengthening its presence in healthcare IT outsourcing.
- Allscripts Healthcare Solutions Inc. partnering with HealthVerity to enhance real-world evidence and improve care for patients.
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