Healthcare IT Outsourcing Market to Hit USD 122.72 Billion by 2032, at 7.44% CAGR, Driven by Digital Transformation and Increased Demand for Operational Efficiency – S&S Insider

According to Research by S&S Insider, The Healthcare IT Outsourcing Market Growth is Driven by Demand for Cost-Effective IT Solutions and Digital Transformation in Healthcare Sector.

Austin, Nov. 12, 2024 (GLOBE NEWSWIRE) — “According to S&S Insider, The Global Healthcare IT Outsourcing Market, valued at USD 64.52 billion in 2023, is anticipated to reach USD 122.72 billion by 2032, growing at a CAGR of 7.44% during the forecast period 2024-2032.”

Market Overview

Increased outsourcing of health IT services is driven by the rising need for specialized IT services in the health sector. With the understanding of their core clinical responsibilities and a growing need for health IT services, various healthcare providers, comprising hospitals and clinics, are outsourcing IT functions to specialized providers. Healthcare organizations are increasingly embracing infrastructure outsourcing, including cloud services, data centers, and cybersecurity measures, and such a trend is expected to persist. Healthcare IT outsourcing is one of the wide-ranging services available, encompassing EHR management, revenue cycle management, IT infrastructure management, and data analytics.

Considering the increasing demand for secure and compliant IT solutions, the trend of adopting telemedicine platforms, AI-powered diagnostic tools, and digital health records makes outsourcing healthcare IT services imperative. Also, in handling large volumes of sensitive patient information of healthcare organizations, outsourcing is a scalable and cost-effective solution to ensuring data security and system reliability. Recent advances in healthcare IT outsourcing are pouring into innovative solutions being developed for the digital transformation of healthcare systems around the world.

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Key Drivers of Growth Include Increased Healthcare Spending and Demand for Secure, Scalable IT Solutions

Healthcare IT outsourcing continues to build momentum, staying in step with the needs of healthcare providers’ investment in technology that will allow for streamlined operations and effective patient care while keeping the data secure. Some of these growth factors are attributed to factors in healthcare spending, regulatory compliance, and the use of digital health tools. The calls for secure, scalable, and cost-effective IT solutions electronic health records, telemedicine platforms, or cybersecurity will become even more pressing in light of the growing volumes of sensitive patient data and the enhanced capabilities in research that pharmaceutical and life sciences companies have in their pursuit of innovation.

Key Healthcare IT Outsourcing Companies Profiled:

• Tata Consultancy Services Limited (TCS)
• Accenture PLC
• Wipro Limited
• Cognizant Technology Solutions
• Hewlett-Packard Company
• HCL Technologies
• McKesson Corporation
• Allscripts Healthcare Solutions Inc.
• Dell Technologies Inc.
• Infosys Limited
• International Business Machines (IBM)
• Koninklijke Philips N.V.
• Optum Inc. (UnitedHealth Group Incorporated)
• Siemens Healthineers AG

Healthcare IT Outsourcing Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 64.52 Billion
Market Size by 2032	US$ 122.72 Billion
CAGR	CAGR of 7.44% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

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Segment Analysis

By Application

In 2023, the Provider IT Outsourcing segment led the market, capturing approximately 42.0% of the total market share. The demand for IT outsourcing in healthcare providers, including hospitals and clinics, has grown due to the increasing need to focus on core clinical functions while relying on external providers to handle IT systems. Healthcare organizations are outsourcing services such as Electronic Health Records (EHR), cybersecurity, and telemedicine platforms to ensure efficient operations, data security, and seamless integration with healthcare networks.

By End User

In 2023, the Hospital Information Systems (HIS) segment accounted for the largest share of the healthcare IT outsourcing market, holding around 47.0% of the market share. Hospitals are increasingly outsourcing IT services to improve operational efficiency, patient management, and data accessibility. The demand for systems such as EHR, laboratory information systems (LIS), and revenue cycle management (RCM) solutions has further driven the growth of this segment. Furthermore, government initiatives for the compulsory digital recording of health records, particularly in North America and Europe, are expected to support the continued expansion of this segment.

Healthcare IT Outsourcing Market Key Segmentation:

By Application

• Provider IT Outsourcing
• Payer IT Outsourcing
• IT Infrastructure Outsourcing
• Life Science IT Outsourcing
• Operation IT Outsourcing

By End User

• Hospital Information Systems
• Pharmaceutical and Life Science Research

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Regional Analysis

Health care IT outsourcing in the North America region accounted for the largest share, mainly because of strong demand for health care IT services and big players; the use of digital health technologies is extensive. In 2023, North America accounted for 35.0% share. Regionally, it is expected that the region will stay a market leader due to the government initiatives put in place to promote digital health care in the forms of EHR mandates and telemedicine expansion. Companies like Accenture and Allscripts are fueling growth within the market in the region through full healthcare IT outsourcing solutions that improve the quality-of-care patients receive and optimize business processes.

Asia Pacific is the fastest emerging region for healthcare IT outsourcing. With the increasing adoption of digital health technologies and rising health care expenditure, the demand for IT outsourcing services has been at the top. Countries like India, China, and Japan are anticipated to help the market prosper in the coming years as the healthcare infrastructure increases and a greater necessity for advanced IT solutions emerges. Rising demands to manage patient data and improve operational efficiency are raising the need for cost-effective and scalable IT solutions in delivering healthcare services, making the popular decision of many healthcare providers to outsource.

Recent Developments

• Aug 2024 – Sonata Software secured an IT outsourcing contract with a US Premier Healthcare and Wellness Company to enhance digital healthcare solutions through IT support.
• Sept 2023 – Accenture acquired Nautilus Consulting, a UK-based digital healthcare consultancy, known for its expertise in electronic patient record (EPR) solutions. This acquisition strengthens Accenture’s presence in the healthcare IT outsourcing market, particularly in EHR management.
• Feb 2023 – Allscripts Healthcare Solutions Inc. partnered with HealthVerity to enhance real-world evidence and improve care for patients with cardiovascular disease and diabetes. This partnership aims to leverage IT outsourcing for better patient outcomes and healthcare data management.

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