Healthcare Technology Management Global Market Report 2024

Healthcare technology management involves the systematic process of planning and overseeing healthcare technology applications and software to ensure optimal patient care in hospitals and clinics while minimizing costs.

The key services in the healthcare technology management market include maintenance and repair, capital planning, integrated software platforms, labor management, supply chain (procurement), cybersecurity, and quality & regulatory compliance. Maintenance and repair services within healthcare technology management are crucial for maintaining the operational functionality of various equipment used in hospitals, repairing them when necessary, and enhancing the shelf life and capacity of machines. Maintenance and repair services play a vital role in improving the overall efficiency and functionality of healthcare technology. These services are applicable in various types of healthcare facilities, including acute care facilities, post-acute care facilities, and non-acute care facilities, ensuring that technology is effectively managed across different healthcare settings.

The healthcare technology management market research report is one of a series of new reports that provides healthcare technology management market statistics, including healthcare technology management industry global market size, regional shares, competitors with a healthcare technology management market share, detailed healthcare technology management market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare technology management industry. This healthcare technology management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The healthcare technology management market size has grown rapidly in recent years. It will grow from $18.51 billion in 2023 to $21.26 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth observed during the historic period can be attributed to several factors, including the integration of medical devices, adherence to regulatory compliance, effective equipment maintenance practices, cost control measures, and the implementation of asset tracking solutions. These elements have collectively contributed to the advancement and efficiency of healthcare technology management during the historical period.

The healthcare technology management market size is expected to see rapid growth in the next few years. It will grow to $37.92 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The anticipated growth in the forecast period can be attributed to various factors, including the expansion of telehealth services, the increasing adoption of value-based care models, a heightened focus on cybersecurity and data protection, a growing emphasis on sustainability, and the management of the telehealth environment. Major trends expected during this period encompass the management of telehealth technology, the management of Internet of Things (IoT) devices, the adoption of artificial intelligence (AI) and machine learning, the implementation of cloud-based solutions, and the management of mobile devices in the healthcare technology environment.

The increasing imperative for data security is expected to drive the growth of the healthcare technology management market. Data security involves safeguarding data from unauthorized access and corruption, a critical need given the escalating activities of hackers targeting patient data for fraudulent purposes. Healthcare technology management plays a pivotal role in fortifying data security through the application of production and operations management techniques. These techniques aid in identifying phishing emails and reporting them directly to users. Forbes reported in January 2022 that cyber-attacks in the healthcare sector surged by 71% in 2021. Furthermore, a July 2021 report by International Business Machines Corporation revealed that the cost of healthcare data breaches rose to $9.4 million in 2021, a substantial increase from $2 million in 2020, indicating a heightened need for robust data security measures. Consequently, the demand for data security is a driving force behind the growth of the healthcare technology management market.

The expanding adoption of telemedicine services is anticipated to further boost the growth of the healthcare technology management market. Telemedicine involves the remote delivery of healthcare services using telecommunications technology, relying on the internet and video conferencing tools. The proliferation of telemedicine requires various medical devices and technologies for remote patient monitoring and virtual consultations, escalating the demand for healthcare technology management to maintain and support these devices. According to a report from the Centers for Disease Control and Prevention in October 2022, 37.0% of adults utilized telemedicine services within the previous 12 months in 2021. Growing telemedicine usage is notable among women (42.0%) compared to men (31.7%), and there's a positive correlation with age, with higher usage rates in older adults (43.3% among those aged 65 and above). This surge in telemedicine services is a key factor driving the growth of the healthcare technology management market.

Technological advancements represent a prominent trend in the healthcare technology management market, with major companies focusing on innovative technologies to maintain their market positions. In March 2022, TRIMEDX, a US-based company specializing in clinical engineering, medical device cybersecurity, and clinical asset management solutions, launched the RUDR Score. This AI-based technology aids in objective decision-making around clinical asset replacement, incorporating advanced benchmarking of client data. The cloud-based technology simplifies data storage and accessibility, contributing to enhanced cybersecurity, patient safety, and the efficiency of medical equipment. Technological advancements continue to shape the landscape of the healthcare technology management market, with a focus on cutting-edge solutions to meet evolving industry needs.

Prominent companies in the healthcare technology management market are actively developing innovative products, including automated management solutions, to reach larger customer bases, increase sales, and boost revenue. Automated management solutions involve systems, software, or technologies designed to streamline and optimize various administrative or operational processes within an organization, reducing the need for manual intervention. In May 2023, TeleVox Software Inc., a US-based provider of patient engagement technology, introduced an automated reputation management solution. This technology empowers hospitals, health systems, and physician practices to manage and enhance their online visibility and reputation. The automated system enables healthcare teams to set up patient notifications through text and email, inviting feedback on healthcare visits. Patients can easily share their feedback, and the system can alert healthcare providers to responses that require immediate attention. Notably, the technology incorporates natural language processing (NLP) to interpret collected comments and provide sentiment analysis. This innovation enhances the efficiency of reputation management in the healthcare sector.

In February 2022, Sodexo, a France-based technology management company, acquired Hai TOPMED Information Technology Co. Ltd., a China-based technology company specializing in healthcare maintenance and management. While the financial details of the acquisition were undisclosed, it allowed Sodexo to expand its healthcare technology management service and product reach in the Chinese market. This strategic move aligns with Sodexo's commitment to enhancing its capabilities in healthcare technology management and broadening its presence in key markets.

Major companies operating in the healthcare technology management market include ABM Industries Inc., Agility Inc., Allscripts Healthcare Solutions Inc., Athenahealth Inc., Crothall Healthcare Inc., Eli Lilly and Company, InterMed Group, Januarynx Medical Systems Inc., Koninklijke Philips NV, Renovo Solutions Ltd., Siemens Healthcare GmbH, SOciété D'EXploitation Hôtelière, TRIMEDX Holdings LLC, Welldoc Inc., Accumen Fund Inc., Advanced Ultrasound Electronics Ltd., Althea Group, Aramark Healthcare Technologies LLC, Asimily India Pvt. Ltd., Atlantic Biomedical Co., capital asset pricing model, Clinical Technology Management, Comprehensive Technical Group, Conquest Imaging, DirectMed Parts Services LLC, First Healthcare Products Inc., GE Healthcare, Innovatus Imaging Corp., MasterPlan Healthcare, MedWrench LLC, Metis Medical Services, IQVIA Holdings LLC, Physicians Endoscopy, Radiological Service Training Institute, Tech Knowledge Associates LLC, Healthcare Technology Management Company

North America was the largest region in the healthcare technology management market in 2023. The regions covered in the healthcare technology management market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the healthcare technology management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The healthcare technology management market includes revenues earned by entities by providing services such as service model optimization, integrated asset optimization, and digital solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.