Towards Healthcare

Healthcare IT Companies, Corporate Milestones, Corporate Growth and Development Strategy, Mergers and Acquisitions (M&A), Intellectual Property (IP) Portfolio Management, Market Trends Analysis, Leadership Alignment with Trends

Date: December 2024

Healthcare IT Companies and Competitive Landscape

The global healthcare IT market was estimated at US$ 238.30 billion in 2023 and is projected to grow to US$ 1404.55 billion by 2034, rising at a compound annual growth rate (CAGR) of 17.5% from 2024 to 2034.

Healthcare IT Market Companies

Top Companies in the Healthcare IT are:

  • Accenture
  • eMDs, Inc.
  • McKesson Corporation
  • Novarad
  • Hewlett Packard Enterprise Development LP
  • Athenahealth, Inc.
  • Veradigm Inc.
  • Agfa- Gevaert Group
  • GE Healthcare
  • Carestream Health
  • IBM
  • Oracle
  • IQVIA
  • SAP
  • Verisk Analytics, Inc.
  • SAS Institute, Inc.
  • Philips Healthcare
  • Optum, Inc.

IBM’s Contribution to the Healthcare IT Market

Company Name IBM
Headquarters New York, U.S., North America
Recent Development In January 2022, IBM signed a definitive agreement with Francisco Partners in which it agreed to transfer all the healthcare data and analytics assets. The deal was closed for $1,065 million for the U.S. and Canada. The assets included clinical development, MarketScan, health insights, social program, management, imaging software, and Micromedex. The closing was completed in other countries as well, and in December 2023, a $303 million pre-tax gain was recognized.

Latest Announcements by Industry Leaders

Deepak Sahni, CEO of Healthians, commented in a recent interview that artificial intelligence (AI) aids in diagnostic processes, continuous monitoring, and insightful data-driven analytics. This rapidly emerging trend facilitates decentralized healthcare services, ultimately enabling proactive and personalized healthcare interventions.

Recent Developments in the Healthcare IT Market

  • In September 2024, the Union government intends to open a central registry for medical practitioners. Official sources claim that this will assist in building a national database of certified allied healthcare workers. By October 2024, at the latest, the federal and state governments must put the National Commission of Allied and Healthcare Professionals (NCAHP) Act 2021 into force under the Supreme Court's directive.
  • In April 2024, Following World Health Day, the WHO revealed the release of S.A.R.A.H., a prototype digital health promoter powered by generative artificial intelligence (AI) and enhanced empathy. S.A.R.A.H., which uses new language models and cutting-edge technology to enable AI-powered health information avatars, is referred to by the WHO as a Smart AI Resource Assistant for Health. It can communicate with people in eight different languages, around the clock, on any device, and on a variety of health-related topics.
  • In March 2024, in order to provide healthcare workers with the necessary skills to spearhead the digital transformation of India's healthcare sector, UNICEF India, in partnership with the International Institute of Health Management Research, New Delhi, and IIT Bombay, introduced a digital course.

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