Healthcare IT Market Growth and Trends

The healthcare IT market, valued at $238.30 billion in 2023, is projected to reach $1,404.55 billion by 2034, growing at a 17.5% CAGR. Rising health challenges and data demands make IT integration essential for efficient healthcare management.

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Key Highlights of the Healthcare IT Market

• North America led the market in 2023, accounting for 41% of the total market share.
• The Asia Pacific region is anticipated to experience the fastest growth during the forecast period.
• Among types, healthcare provider solutions emerged as the largest segment in 2023.
• Healthcare providers were the primary end-users, dominating the market in 2023.

Latest Announcements and Developments in the Healthcare IT Market

Industry Insights
Deepak Sahni, CEO of Healthians, recently shared his views on the growing role of artificial intelligence (AI) in transforming healthcare. According to Sahni, AI plays a significant role in enhancing diagnostic processes, enabling continuous monitoring of patients, and providing valuable data-driven insights. This technology is helping to decentralize healthcare services, allowing for more personalized and proactive care interventions that can improve patient outcomes.

Recent Developments

• Government Initiative on Central Registry (September 2024): In a major step towards improving healthcare standards, the Union government of India plans to establish a central registry for medical practitioners. This move will help in building a comprehensive national database of certified healthcare professionals, particularly those working in allied healthcare fields. The National Commission of Allied and Healthcare Professionals (NCAHP) Act 2021, which supports this initiative, is expected to be implemented by October 2024 at the latest, as per the directive from the Supreme Court of India. This central registry is part of the government’s broader efforts to regulate and professionalize the healthcare workforce.
• WHO’s AI-Powered Health Assistant – S.A.R.A.H. (April 2024): The World Health Organization (WHO) unveiled S.A.R.A.H. (Smart AI Resource Assistant for Health), an innovative digital health promoter powered by generative AI. This AI-driven health assistant is designed to assist individuals with health-related information and is capable of interacting in eight different languages. It operates 24/7 and is accessible on various devices, providing people with timely and accurate health guidance. The introduction of S.A.R.A.H. highlights the WHO’s commitment to leveraging AI to improve healthcare accessibility and information dissemination globally.
• Digital Training Program for Healthcare Workers (March 2024): To support the ongoing digital transformation of India’s healthcare sector, UNICEF India, in collaboration with the International Institute of Health Management Research (IIHMR), New Delhi, and IIT Bombay, launched a digital course aimed at upskilling healthcare workers. This program is designed to equip professionals with the necessary skills to navigate the increasing use of technology in healthcare, ensuring they are well-prepared to lead digital healthcare initiatives in the country. This development is part of broader efforts to modernize the healthcare workforce and improve the delivery of healthcare services through digital solutions.

Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/healthcare-it-market-sizing

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