Health technology management market worth $12.9 billion by 2026
CHICAGO, April 8, 2022 /PRNewswire/ — According to new market research report “Health Technology Management Market by service (maintenance and repair, integrated software platform, quality and regulatory compliance, labor management, supply chain, cybersecurity) and facility type (acute, post-acute, and non-acute) – U.S. forecast through 2026″, released by MarketsandMarkets™, the US Healthcare Technology Management Market is expected to reach $12.9 billion by 2026 from $6.3 billion in 2021 at a CAGR of 15.5% over the forecast period.
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The growth of this market is driven by factors such as the need for better asset management in hospitals and the increasing focus on preventive maintenance of medical equipment. The advantages offered by ISOs and the growing need for data security are further contributing to the growth of this market. However, shortage of skilled technicians and clinical/biomedical engineers is expected to restrain the growth of this market during the forecast period.
Impact of Covid-19 on the US Healthcare Technology Management Market
The novel coronavirus pandemic has put enormous pressure on the functioning of the healthcare and life science industries. From March 2022, more than 78.5 million confirmed cases have been reported in the United States (Source: WHO). This situation compelled the US government to take proactive measures to contain the outbreak. The state of emergency to fight the epidemic has led healthcare institutions, life sciences and government agencies to adopt advanced technologies, solutions and services, going beyond traditional routes to improve flows. of work.
The health sector has been at the center of the COVID-19 crisis. On the one hand, it has been tasked with treating COVID-19 patients, while on the other hand, it has also faced several challenges just like other sectors. The sector has had to continually innovate and develop new ways of delivering care. Innovators in the space are already recognizing these trends and offering ways to address them through technological solutions. Health management should also become more integrated, with players offering different services coming together and providing consumers with the care they need. Many services are expected to migrate to a virtual setting or consumers’ homes, with technology platforms bringing them together.
“The maintenance and repair segment accounted for the largest share of the market.”
Based on service type, the healthcare technology management market is segmented into maintenance and repair, capital planning, integrated software platform, workforce management, supply chain (procurement) , cybersecurity, quality and regulatory compliance. The maintenance and repair segment accounted for the largest share of 36.14% of the US health technology management market in 2020. The need to improve patient safety, increasing adoption of devices/ Advanced medical equipments in various healthcare institutions and government initiatives to encourage the implementation of imaging systems are some of the other factors driving the growth of this market.
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“Acute care facilities accounted for the largest share of the US healthcare technology management market in 2020.”
Based on facility types, the US healthcare technology management market is segmented into acute care, post-acute care and non-acute care facilities. Acute care facilities accounted for the largest market share in 2020 and are expected to grow at a highest CAGR during the forecast period. The large share and high growth rate of the acute care facilities segment can largely be attributed to factors such as the overall increase in patient volume, the need for better management of clinical assets, and the need to improve the quality of patient care, thus driving demand. for health technology management services.
The major players in the US health technology management market are GE Healthcare (US), TRIMEDX (US), Siemens Healthineers (Germany), Koninklijke Philips AG (Netherlands), Sodexo (France), Crothall Healthcare (US), Agility Inc (US), RENOVO Solutions (US), ABM Industries Incorporated (US), JANNX Medical System (US) and InterMed Group (US) ).
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