Integrated Patient Care Systems Global Market Report 2024

The integrated patient care systems market size has grown rapidly in recent years. It will grow from $20.46 billion in 2023 to $23.32 billion in 2024 at a compound annual growth rate (CAGR) of 14%. During the historic period, growth can be attributed to several factors. These include the widespread adoption of interoperability standards, which facilitated seamless communication and data exchange among healthcare systems and providers. Additionally, there was a notable increase in the prevalence of chronic diseases and complex medical conditions, driving the need for more integrated and comprehensive healthcare approaches.

The integrated patient care systems market size is expected to see rapid growth in the next few years. It will grow to $39.78 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to increasing adoption of electronic health records (EHR), aging population and increased healthcare needs, rise in consumer demand for seamless healthcare experiences, growing demand for interoperability between healthcare systems, growing importance of patient engagement tools. Major trends in the forecast period include integration of social determinants of health (SDOH) data, technological advancements in healthcare IT, a shift towards value-based care models, a shift towards value-based reimbursement models, expansion of telemedicine and virtual care services.

The anticipated increase in the adoption of electronic health records (EHR) is poised to drive substantial growth within the integrated patient care systems market. Electronic health records (EHR) encompass digital systems designed to securely store and manage patient health information, facilitating efficient access, sharing, and analysis among healthcare providers. The growing demand for EHR systems stems from various factors, including enhanced efficiency, centralized data management and accessibility, interoperability, and improved patient engagement. Within integrated healthcare systems, EHR systems play a pivotal role, facilitating seamless information sharing, enhanced care coordination, and ultimately, improved patient outcomes. EHR interoperability is particularly crucial in integrated healthcare systems, ensuring secure and efficient transfer of patient information across diverse healthcare settings. For instance, as reported by the Centers for Disease Control and Prevention (CDC) in November 2023, 88.2% of office-based physicians were utilizing EHR systems, with 77.8% utilizing certified EHR systems. This substantial adoption underscores the pivotal role of electronic health records (EHR) in propelling the growth of the integrated patient care systems market.

Leading companies in the integrated patient care systems sector are concentrating on collaborative development of advanced technological solutions to stay competitive. One such innovation is the artificial intelligence (AI)-powered device-integrated patient monitoring framework. This sophisticated system utilizes AI technology to monitor patients' health status continuously and provide real-time insights within an integrated healthcare environment. For example, in June 2021, Max Healthcare and MyHealthcare introduced the Max MyHealth+ ecosystem, featuring AI-powered device integration for patient monitoring. This framework incorporates various clinical devices such as blood pressure monitors and ECG devices, allowing patients to easily connect them to the Max MyHealth+ app for remote monitoring. The utilization of automatic trend analysis and vital alerts enhances patient care management, offering flexibility and convenience in healthcare delivery.

In June 2022, Oracle Corporation made a strategic acquisition by purchasing Cerner Corporation for $28.4 billion, signaling its commitment to expanding its presence in electronic healthcare delivery. Oracle aims to leverage Cerner's expertise and wealth of health data to offer innovative solutions in the integrated patient care systems market. This acquisition enhances Oracle's competitiveness in the healthcare sector, positioning it to provide comprehensive solutions for improving patient care and streamlining administrative processes. Cerner Corporation's integration into Oracle's portfolio reinforces the company's commitment to advancing healthcare technology and addressing evolving industry needs.

Major companies operating in the integrated patient care systems market are McKesson Corporation, International Business Machines Corporation, Oracle Corporation, GE HealthCare, Koninklijke Philips N.V., Cerner Corporation, Epic Systems Corporation, Allscripts Healthcare LLC, eClinicalWorks, Siemens Healthineers, InterSystems Corporation, Medical Information Technology Inc., Computer Programs and Systems Inc., Optum Inc., Vocera Communications Inc., Advantech Co. Ltd., CareCloud Inc., Greenway Health LLC, NantHealth Inc., CureMD, GetWellNetwork Inc., PatientSafe Solutions Inc., SONIFI, Compulink Advantage.

North America was the largest region in the integrated patient care systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the integrated patient care systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the integrated patient care systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Integrated patient care systems encompass coordinated and comprehensive approaches to healthcare delivery. These systems prioritize seamless communication, collaboration, and continuity of care among healthcare providers across different disciplines and locations. Their design focuses on enhancing treatment quality, patient outcomes, and resource utilization by effectively managing every aspect of a patient's health.

The integrated patient care system components are software, hardware, and services. Software refers to digital solutions designed to streamline healthcare processes, enhance communication between healthcare providers and patients, and facilitate the management of patient data. It can be deployed in several modes, including web or cloud-based systems, on-premise systems, and hybrid models, for various applications, such as electronic health or medical records, real-time healthcare, patient engagement, prescription management, and others. It is used by various end users, such as hospitals, clinics, diagnostic centers, pharmacies, and others.

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

The integrated patient care systems market consists of revenues earned by entities by providing services such as software implementation, clinical decision support (CDS) systems, telemedicine and telehealth services, population health management, patient engagement, and education. The market value includes the value of related goods sold by the service provider or included within the service offering. The integrated patient care systems market also includes sales of medical imaging equipment, communication devices, point-of-care devices, telemedicine equipment, computers, servers, and networking equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.


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