Analyzing the Future of Healthcare Technology Management Market Dynamics 2025-2034: Growth Rate, Trends, and Major Opportunities
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How has the healthcare technology management market grown over the years?
In recent times, the market size for healthcare technology management has witnessed rapid expansion. It is projected to increase from $21.39 billion in 2024 to $24.49 billion in 2025, With a compound annual growth rate (CAGR) of 14.5%. Factors contributing to this significant growth during the historical period include medical device integration, regulatory compliance, equipment maintenance, cost control, and asset tracking.
What Is the forecasted market size and growth rate for the healthcare technology management market?
In the ensuing years, the market size of healthcare technology management is poised for swift expansion. By 2029, it is forecasted to balloon to $44.81 billion, propelled by a compound annual growth rate (CAGR) of 16.3%. Elements such as the augmentation of telehealth, escalation in value-based care, fortification of cybersecurity and data safety, increased sustainability, and the management of the telehealth environment can be credited for the projected growth. The key trends likely to dominate the forecast period are the management of telehealth technology, IoT device management, the integration of AI and machine learning, the use of cloud-based solutions, and the management of mobile devices.
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What are the major factors driving growth in the healthcare technology management market?
The increasing necessity for data security is anticipated to stimulate the expansion of the healthcare technology management market. Data security, a procedure to safeguard data from unwarranted access and contamination, is becoming extremely important due to a surge in hacking activities aiming to misuse patient information. Healthcare technology management aids in securing this data from potential cyber threats by applying production and operations management techniques, which assist in detecting phishing attacks and notifying the user immediately. For instance, a report from International Business Machines Corporation, a American-based technology firm, in July 2024 revealed that the global average expense of a data breach touched USD 4.88 million in 2024, witnessing a substantial 10% hike from the prior year and setting the highest total ever marked. Hence, the escalating need for data security is fueling the advancement of the healthcare technology market.
What key areas define the segmentation of the global healthcare technology management Market?
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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What are the top market players propelling the growth of the healthcare technology management industry?
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 key trends shaping the future of the healthcare technology management market?
The rise in technological innovations is a significant trend emerging in the healthcare technology management market. To maintain their market presence, leading businesses in this sector are concentrating on the creation of pioneering technologies. For example, TRIMEDX, a company based in the United States that offers clinical engineering, medical device cyber security, and clinical asset management solutions, introduced the RUDR Score in March 2022. This artificial intelligence-based technology aids in achieving impartial decision-making related to clinical asset replacement. The system also holds advanced client data benchmarking capabilities. It utilizes sophisticated cloud computing, simplifying the process of storing abundant data in a single location, while also ensuring its accessibility. The system further provides advantages such as strengthened cyber security, improved patient safety, and enhances the performance of medical devices.
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What regions are dominating the healthcare technology management market growth?
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.
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