Healthcare and Medical System Integrators Market

Global Healthcare and Medical System Integrators Market Size (2024 to 2032)

The global healthcare and medical system integrators market was worth US$ 1,871 million in 2023 and is anticipated to reach a valuation of US$ 5,139 million by 2032 from US$ 2,093 million in 2024, and it is predicted to register a CAGR of 11.88% during the forecast period 2024-2032.

MARKET SCENARIO

Healthcare and Medical System Integrators help to promote quality treatment. Healthcare and medical system integrators approach in a specific manner by creating communication between health professionals. These are user-friendly devices and are simple to use. The planning and treatment process is unique in these systems, enhancing the better treatment for the patient's wellbeing.

Increasing support from the IT sector and the growing number of chronic diseases and other psychological disorders due to changes in lifestyle and food habits are propelling the growth of the global healthcare and medical system integrators market. The growing prevalence of the minimization of errors in surgical procedures is likely to bolster the market demand. Growth opportunities for the market lie in the emergence of the latest technological developments in medical sectors.

However, the cost of installing and maintaining the devices is a little high is slowly hampering the demand of the market. Rapid changes in economic strategies are showing a negative impact on the growth of the global healthcare and medical system integrators market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Healthcare and Medical System Integrators Market Analysis By Application

• Government Hospitals
• Private Hospitals
• Clinics
• Healthcare Centers
• Others

Based on the application, the government and private hospital segments held the major share of the global market in 2022 and are expected to register a healthy CAGR during the forecast period owing to the growing number of investments for the construction of hospitals with the latest equipment.

Global Healthcare and Medical System Integrators Market Analysis By Type

• Horizontal Integration
• Vertical Integration

Based on type, the horizontal integration segment held a notable share of the worldwide market in 2023 and is expected to witness a healthy CAGR during the forecast period owing to the growing expenditure on healthcare services.

REGIONAL ANALYSIS

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Regionally, the market is led by North America and Europe owing to the adoption of advanced technologies and the launch of various devices with reduced operational costs. North America is predicted to hold a significant share of the market during the estimated period, and the region is attributed due to strict legislative and approval need towards healthcare. U.S and Canada are substantial contributors to the market. The US is accounted to hold the majority of the share in the region, followed by Canada. The need to manage the increasing healthcare price and develop healthcare services can surge the growth in the market globally.

Asia Pacific is expected to grow faster in the coming years. The rise in the scale of the IT sector is fueling the demand of the market. The increasing geriatric population is additionally leveraging the growth rate of the market. Favorable government steps are taken to execute IT in the healthcare sector, the rise in medical tourism, the growing requirement for advanced telehealth and eHealth solutions due to COVID-19 eruption and the increasing need for quality healthcare the factors propelling the market growth in APAC globally. China is leading the region's market due to the growing occurrences of chronic diseases in older people, along with pediatric patients. 

Healthcare and Medical System Integration market in Latin America is expected to be the second region, followed by APAC in having considerable growth over the period. An increase in support from the IT domain is impelling the area. 

The Middle East & Africa is expected to have a slight inclination in the healthcare and medical system integrators market in the region because of lifestyle changes causing chronic diseases and physiological disorders and food habits.

KEY MARKET PLAYERS

1. Cerner Corporation
2. GE Healthcare
3. Allscripts Healthcare Solutions Inc.
4. IBM Corporation