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Global Healthcare IT Outsourcing Market Witnesses Tremendous Rise thanks to Cost Efficiency of Outsourcing Solutions

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The global market for healthcare IT outsourcing has witnessed a tremendous surge in its valuation over the past decade. The cost efficiency offered by these outsourcing solutions has fuelled their demand exponentially. 

A research study, published by Transparency Market Research (TMR) states that the global market for healthcare IT outsourcing is anticipated to rise at a CAGR of 6.70% between 2015 and 2023, and reach a valuation of US$61.2 bn by the end of 2023.

Browse Full Global Healthcare IT Outsourcing Market Report with TOC :

Reports of Data Breaches to Hamper Growth of Global Healthcare IT Outsourcing Market

Although the global healthcare IT outsourcing market is exhibiting impressive future prospects, reports of data breach and the loss of confidentiality are threatening the trust of healthcare providers on outsourcing solution vendors. In addition to this, the fragmented nature of end-use industries is likely to limit the implementation of standard IT platforms across the market, restricting the operations of market players. The language barriers and the cultural differences are also expected to hamper the growth of this market in the coming years.

The market, however, is likely to gain significant impetus from the infrastructural development of the worldwide medical and healthcare industry and the growing demand for cost-effective IT administrative services in the near future. Apart from this, the increasing number of initiatives started by several governments across the world to encourage technology-driven affordable medical and healthcare services are also projected to propel this market significantly over the next few years.

Care Management Segment to Report Fastest Growth in Near Future

Healthcare administration, care management, and IT infrastructure services are the main application areas for healthcare IT outsourcing solutions. In 2014, the healthcare administration segment led the overall market with a share of approximately 37%.

The increased application of patient data management, health record management, billing, and inventory management in healthcare organizations has propelled the demand for administrative outsourcing services in recent times. In the coming years, the care management segment is anticipated to register a faster growth owing to the rise in the patient base and the increasing demand for quality care services across the world.

Browse the full Press Release of Global Healthcare IT Outsourcing Market at

The global healthcare IT outsourcing market can also be studied on the basis of the end user and the geographical distribution of this market. Here is a snapshot of how the market has been performing in these categories.

  • The healthcare providers segment led the global healthcare IT outsourcing market with a majority share in 2014.
  • The healthcare payers segment is projected to be the leading end user for healthcare IT outsourcing by the end of 2023.
  • North America acquired the leading position with a share of more than 40% in the worldwide healthcare IT outsourcing market in 2014.
  • During the period from 2015 to 2023, Asia Pacific is likely to report the fastest CAGR of 10.50% among all the regional markets for healthcare IT outsourcing.

Cognizant Technology Solutions, HCL Technologies Ltd., IBM Corp., Allscripts Healthcare Solutions Inc., Wipro Ltd., Tata Consultancy Services Ltd., McKesson Corp., L&T Infotech, Accenture Plc., and Infosys Ltd. are some of the key providers of healthcare IT outsourcing solutions in the global arena.