Europe Healthcare IT Market By Application (Electronic Health Records, Clinical Information Systems, Laboratory Information Systems, Electronic Prescribing Systems, PACS, Tele-healthcare and Computerized Provider Order Entry Systems), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Europe Healthcare IT Market would witness market growth of 7.3% CAGR during the forecast period (2021-2027). Europe is supporting various programs so as to incorporate IT technology in healthcare across all the countries in the region. These programs aim at higher utilization of the Internet to enhance quality and cost-effectiveness in providing healthcare services and include telemedicine & medical documentation.
The region is also witnessing the replacement of health insurance cards with smart cards that are compatible with EU standards. These awareness programs also seek out active participation by insurance companies to create an electronic portal for reimbursement and to encourage healthcare professionals to adopt IT extensively.
In addition, various European countries are addressing different e-health related issues such as telecommunication, data protection, and authorized digital signatures with new projects and programs. For example, IZIP is the Czech nationwide electronic health record system. The major aim of IZIP is to provide both the technical as well as the service infrastructure for the extensive record integrating medical information from individual healthcare professionals and healthcare provider organizations (HPOs) and giving complete control to the citizen. By doing this, they are in a position to make informed decisions regarding their health, cooperate better with the healthcare providers and get an outlook of the technical, resource, and financial aspects and limitations of the prescribed or accessible services and procedures. Thus, the region is witnessing high adoption of IT solutions in the healthcare sector, thereby boosting the demand & growth of the regional healthcare IT market.
Some of the determinants that would boost the healthcare IT market growth are the surge in the digitalization of the healthcare sector and demand for value-based care & increasing price of provision of healthcare services along with the spur in the number of healthcare units across the world. In addition to it, new advancements and integration that are brought in the healthcare IT sector to manage the problems with respect to big data management and its security will create various lucrative opportunities for the players operating in the market, hence boosting the growth of the healthcare IT market during the forecast period.
The Germany market dominated the Europe PACS Market by Country in 2020, thereby, achieving a market value of $944.1 million by 2027. The UK market is exhibiting a CAGR of 6.7% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 11.6% during (2021 - 2027).
Based on Application, the market is segmented into Electronic Health Records, Clinical Information Systems, Laboratory Information Systems, Electronic Prescribing Systems, PACS, Tele-healthcare and Computerized Provider Order Entry Systems. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Healthcare IT Market Size will Hit $125.1 Billion by 2027, at a CAGR of 7.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include UnitedHealth Group, Inc. (Optum, Inc.), Cerner Corporation, AllScripts Healthcare Solutions, Inc., Athenahealth, Inc. (Veritas Capital), Cognizant Technology Solutions Corporation, Koninklijke Philips N.V., Epic Systems Corporation, Oracle Corporation, Conduent, Incorporated, and Infor, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Electronic Health Records
- Clinical Information Systems
- Laboratory Information Systems
- Electronic Prescribing Systems
- Computerized Provider Order Entry Systems
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- UnitedHealth Group, Inc. (Optum, Inc.)
- Cerner Corporation
- AllScripts Healthcare Solutions, Inc.
- Athenahealth, Inc. (Veritas Capital)
- Cognizant Technology Solutions Corporation
- Koninklijke Philips N.V.
- Epic Systems Corporation
- Oracle Corporation
- Conduent, Incorporated
- Infor, Inc.
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