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According to The Business Research Company's research on the healthcare technology management market, the rising need for data security is expected to propel the healthcare technology management market going forward. Data security is the process of protecting data from unauthorized access and data corruption. The need for data security is increasing due to the rising activities of hackers who steal patient data to commit fraud. Healthcare technology management helps to protect the data from hacking, with the help of production and operations management techniques, which helps to identify the fish mail and report it directly to the user. For instance, according to a report published by Forbes, a US-based business magazine, in January 2022, cyber-attacks increased to 71% in the healthcare sector in 2021. In addition, in July 2021, International Business Machines Corporation, a US-based technology company, the healthcare data breach cost increased to $9.4 million in 2021 which was $2 million in 2020, there is an increase of $4.24 million in 2021. Therefore, the need for data security is driving the healthcare technology management market growth.
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The global healthcare technology management market size is expected to grow from $13.70 billion in 2021 to $15.69 billion in 2022 at a compound annual growth rate (CAGR) of 14.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The healthcare technology management market is expected to reach $25.78 billion in 2026 at a CAGR of 13.2%.
Technological advancements are a key trend gaining popularity in the healthcare technology management market. Major companies operating in the market are focusing on developing innovative technologies to sustain their position in the market. For instance, in March 2022, TRIMEDX, a US-based company that provides clinical engineering, medical device cyber security, and clinical asset management solutions, launched the RUDR Score, an AI-based technology that helps in objective decision-making around clinical asset replacement. It also contains advanced benchmarking of client data. Its sophisticated cloud-based technology makes it simple to store more data in one location and make it accessible. The system also benefits by maintaining cyber security, enhancing patient safety, and maintaining the efficiency of medical equipment.
Major players in the healthcare technology management market are GE Healthcare, Sodexo, Siemens Healthcare GmbH, TRIMEDX, Koninklijke Philips NV, Crothall Healthcare Inc, Renovo Solutions, ABM Industries Inc, Jannx Medical Systems Inc, Welldoc Inc, Agility Inc, InterMed Group, Eli Lilly and Company, Allscripts Healthcare Solutions Inc, and Athenahealth Inc.
The global healthcare technology management market segmentation is categorized by type of service into maintenance and repair, capital planning, integrated software platform, labor management, supply chain (procurement), cyber security, quality and regulatory compliance; by facility type into acute care facility, post acute care facility, non acute care facility.
North America was the largest region in the healthcare technology management market in 2021. The regions covered in the healthcare technology management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Healthcare Technology Management Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide healthcare technology management market forecast size and growth, healthcare technology management market segments, healthcare technology management market trends, healthcare technology management market drivers and restraints, healthcare technology management market leading competitors' revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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