Exploring Key Insights of the Healthcare Technology Management Market: Growth Prospects, Emerging Trends, and Opportunities
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How Rapidly is the Healthcare Technology Management Market Expected to Expand Between 2025 and 2034 Based on Current Trends?
In recent times, the market size for healthcare technology management has seen a significant growth. The market is expected to expand from a size of $21.39 billion in 2024, reaching $24.49 billion in 2025, representing a compound annual growth rate (CAGR) of 14.5%. Factors such as medical device integration, regulatory compliance, equipment maintenance, cost control, and asset tracking have all played roles in the growth observed in the historic period.
The market size of healthcare technology management is projected to significantly expand in the coming years, reaching a value of $44.81 billion in 2029 at a compound annual growth rate (CAGR) of 16.3%. Factors contributing to this growth during the forecast period are the expansion of telehealth, increase in value-based care, augmented cybersecurity and data protection measures, enhanced sustainability and ongoing management of the telehealth environment. Key trends for the forecast period encompass management of telehealth technology, Internet of Things (IoT) device management, adoption of artificial intelligence (AI) and machine learning, implementation of cloud-based solutions, and mobile device management.
Which Drivers Are Expected to Have the Greatest Impact on the healthcare technology management Market’s Growth?
The increasing demand for data protection is predicted to stimulate the growth of the healthcare technology management market. Data security involves safeguarding data from unsanctioned access and potential data degradation. The escalating activities of cybercriminals who steal patient information for fraudulent purposes have amplified the urgency for data protection. Healthcare technology management offers protection against such illegal data breaches using production and operational management techniques, which aid in identifying phishing emails and promptly alerting the user. For example, International Business Machines Corporation, a tech firm based in the U.S., reported in July 2024 that the global average expense of a data violation in 2024 had soared to USD 4.88 million, a 10% increase from the preceding year, signifying the highest cumulative cost ever recorded. Hence, the requirement for data security is catalyzing the expansion of the healthcare technology market.
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What Are the Key Industry Players Leading the Charge in the Healthcare Technology Management Market’s Growth?
Major companies operating in the healthcare technology management market include:
• ABM Industries Inc._x000D_
• Agility Inc._x000D_
• Allscripts Healthcare Solutions Inc._x000D_
• Athenahealth Inc._x000D_
• Eli Lilly and Company_x000D_
How Are Market Trends and Shifts Impacting the Growth Trajectory of the Healthcare Technology Management Market?
A noticeable trend in the healthcare technology management market is the surge in technological advancements. To stay competitive, key players in the market are developing innovative technologies. For instance, TRIMEDX, a firm based in the US that offers clinical engineering, clinical asset management solutions, and medical device cyber security, introduced an AI-based technology known as the RUDR Score in March 2022. This technology facilitates objective decision-making for clinical asset replacements and includes advanced benchmarking of client data. Its cutting-edge cloud technology allows for easy storage and accessibility of data in a single location. Additionally, the system upholds cyber security and patient safety while ensuring the efficiency of medical equipment.
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Which Key Segments of the Healthcare Technology Management Market Are Poised for Growth and Innovation?
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
What Regions Are Influencing the Dynamics of 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.
What Are the Key Characteristics That Define the Healthcare Technology Management Market?
Healthcare technology management refers to the organized process of preparing and managing healthcare technology applications and software that help provide optimum patient care in hospitals and clinics at a low cost.
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