How Has the Healthcare Technology Management Market Evolved Historically and What is its Current Size?
The healthcare technology management market has seen considerable growth due to a variety of factors.
• The market size of healthcare technology management has witnessed swift expansion in the past few years. It is projected to escalate from $21.39 billion in 2024 to about $24.49 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 14.5%.
The notable growth during the historic time frame is credited to elements such as medical device integration, regulatory compliance, maintenance of equipment, cost management, and asset tracking.
What is the Forecasted Market Size and CAGR for the Healthcare Technology ManagementMarket?
The healthcare technology management market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for healthcare technology management is anticipated to witness a substantial growth in the forthcoming years. It is predicted to reach a value of $44.81 billion in 2029, growing at a compound annual growth rate (CAGR) of 16.3%.
This impressive growth during the projected period can be credited to factors such as the expansion of telehealth, growth in value-based care, enhanced data protection and cybersecurity, as well as increased focus on sustainability and management of telehealth environments. Key trends forecasted for this period encompass the management of telehealth technology, IoT device management, adoption of AI and machine learning, the rise in cloud-based solutions, and management of mobile devices.
What Are The Key Drivers Fueling Growth In The Healthcare Technology Management Market?
The increasing demand for data protection is anticipated to spur the growth of the healthcare technology management market. Data protection involves safeguarding data from unauthorized access and corruption. The urgency for data protection has escalated owing to increased hacker activity, involving the theft of patient data for fraudulent activities. Healthcare technology management provides a safeguard against data breaches by using production and operations management strategies to detect and relay phishing activities directly to the user. For instance, in July 2024, the International Business Machines Corporation, a technology firm based in the USA, reported that the average global cost of a data breach amounted to USD 4.88 million. This represented a 10% increase from the previous year and the highest amount ever recorded. Therefore, the need for data safeguarding is augmenting the growth of the healthcare technology market.
What Are The Principal Market Segments In The Global Healthcare Technology Management Industry?
The healthcare technology management market covered in this report is segmented –
1) By Type Of Service: Maintenance and Repair, Capital Planning, Integrated Software Platform, Labor Management, Supply Chain (Procurement), Cyber Security, Quality and Regulatory Compliance
2) By Facility Type: Acute Care Facility, Post Acute Care Facility, Non Acute Care Facility
Subsegments:
1) By Acute Care Facility: Hospitals, Urgent Care Centers, Emergency Departments
2) By Post Acute Care Facility: Rehabilitation Centers, Long-Term Care Facilities, Skilled Nursing Facilities
3) By Non-Acute Care Facility: Outpatient Clinics, Home Health Care Services, Ambulatory Surgery Centers
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Which Emerging Market Trends Are Altering The Healthcare Technology Management Sector?
Advancements in technology are emerging as a leading trend in the healthcare technology management market. To remain competitive, key market players are concentrating on inventing new technologies. For example, TRIMEDX, an American company offering clinical engineering, medical device cybersecurity, and clinical asset management solutions, introduced the RUDR Score in March 2022. This cutting-edge AI-based technology aids in unbiased clinical asset replacement decision-making and includes superior client data benchmarking features. Its sophisticated cloud technology simplifies the process of storing large amounts of data in one place and accessing it openly. It also adds value by supporting cybersecurity, promoting patient safety, and preserving the functionality of medical equipment.
Who Are the Key Players in the Healthcare Technology Management Market?
Major companies operating in the healthcare technology management market include:
• ABM Industries Inc.
• Agility Inc.
• Allscripts Healthcare Solutions Inc.
• Athenahealth Inc.
• Eli Lilly and Company
• InterMed Group
• Januarynx Medical Systems Inc.
• Koninklijke Philips NV
• Renovo Solutions Ltd.
• Siemens Healthcare GmbH
• 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.
• 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
What are the Regional Insights into the Healthcare Technology Management Market?
North America was the largest region in the healthcare technology management market in 2024. The regions covered in the healthcare technology management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
