Ocean View, DE -- (SBWIRE) -- 04/13/2020 -- Healthcare Information Technology (IT) Market will exceed USD 441.8 billion by 2025; as per a new research report. Emergence of artificial intelligence in healthcare will serve as a high impact rendering factor for the healthcare IT market. Artificial intelligence helps in providing practitioner assistance and decision support for tasks such as patient diagnosis and symptom analysis, thereby leading to better data management and driving the overall healthcare IT market.

Increasing funding for healthcare IT through various government initiatives will boost healthcare IT market growth. For instance, the European commission had launched a public consultation project to promote digital health innovations and care for European citizens. Such government initiatives should propel healthcare IT market growth.

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Healthcare revenue cycle management market is poised to reach USD 114.5 billion by 2025. Healthcare revenue cycle management industry has established presence of industry players that dominate market by providing superior quality software. Development and high preference for big data analytics should positively influence the HRCM business growth in foreseeable future.

Healthcare IT market in ambulatory surgical units is expected to grow at 16.1% CAGR during the forecast timeframe. Rising availability of specialized solutions such as ambulatory EHRs will increase implementation of healthcare IT in such settings. Funding and incentives by regulatory and government bodies will further propel market growth in the future.

U.S. healthcare IT market accounted for largest share in 2018 and is forecasted to grow at 13.8% over the projected period. The need for providing healthcare services to population residing in remote areas will boost U.S. healthcare IT market. Furthermore, increasing need to lower healthcare costs will foster healthcare IT market in U.S. across the forecast timeframe.

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Germany healthcare IT market is estimated to reach USD 34.3 billion by 2025. There have been various initiatives taken by the German government to solve the issues faced by the usage of HER. The growing use of HER along with various government initiatives to modernize healthcare infrastructure of the country are driving factors for healthcare IT market growth in Germany.

Few of the prominent market players involved in global healthcare IT market are McKesson Corporation, GE Healthcare, Siemens Healthcare, Oracle Corporation, Hewlett-Packard, Athenahealth, Allscripts Healthcare Solutions, eClinicalWorks, Experian Health, Agfa Healthcare, and Carestream Health. The industry participants are engaged in acquisition and collaborations to enhance their market foothold and expand geographic reach. For instance, in February 2019, Oracle announced availability of its data center in UAE and Middle East. This data center will offer cloud applications services to its customers across the region, thereby strengthening its market position in the Middle East region.