PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1336045
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1336045
US Healthcare Technology Management Market by Service, Facility Type - Global US Forecast to 2028
The US healthcare technology management market is projected to reach USD 17.3 billion by 2028 from USD 8.4 billion in 2023, at a CAGR of 15.6% during the forecast period. Growth in this market is driven by factors such as the advantages offered by ISOs and the rising need for data security. At the same time, a lack of skilled technicians and clinical/biomedical engineers may be a restraining factor for the market. Growing preference for the multi-vendor contracts may posses challenges for the market in the upcoming years.
"Maintenance & repair segment will register to grow at the highest rate during the forecast period."
Based on the type of service, the healthcare technology management market is segmented into capital planning, cyber security, integrated software platform, labor management, maintenance & repair, supply chain (procurement), and quality & regulatory compliance. The maintenance & repair segment acquired the largest share of the market in 2022. Factors influencing the growth of this market include the increasing use of advanced medical devices and supplies across a range of healthcare facilities, a need for improved patient safety, and government initiatives to promote the use of imaging systems.
"Acute Care Facilities segment is estimated to account 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 post-acute care, acute care, and non-acute care facilities. Acute care facilities are expected to grow at the highest CAGR and account for the largest share of the US healthcare technology management market in 2022. The large share of the market and highest growth of the acute care facilities segment can be largely attributed to factors like an overall increase in patient volumes, the demand for better clinical asset management, and the need to enhance patient care standards, all of which are driving up demand for healthcare technology management services.
Breakdown of supply-side primary interviews by company type, designation, and region:
- By Company Type: Tier 1 (33%), Tier 2 (39%), and Tier 3 (28%)
- By Designation: C-level (44%), D-level Executives (35%), and Others (21%)
The prominent players operating in the US healthcare technology management market are GE Healthcare (US), TRIMEDX (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Sodexo (France), Crothall Healthcare (US), Agility Inc (US), RENOVO Solutions (US), ABM Industries Incorporated (US), JANNX Medical System (US) and the InterMed Group (US)
Research Coverage
The market study covers the US healthcare technology management market across various segments. It aims at estimating the market size and the growth potential of this market across different segments by service type and facility type. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their services and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall US healthcare technology management market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report provides insights into the following pointers:
Analysis of key drivers (Need for better asset management in hospitals, Advantages offered by ISOs, Rising focus on preventive medical equipment maintenance, and Rising need for data security), restraints (Dearth of skilled technicians and clinical/biomedical engineers), opportunities (Increasing consolidation in the US healthcare industry) and challenges (Preference for multi-vendor contracts) influencing the growth of the US healthcare technology management market
- Market Penetration: Comprehensive information on services portfolios offered by the top players in the US healthcare technology management market. The report analyzes this market by service type, by facility type.
- Services Enhancement/Innovation: Detailed insights on upcoming trends and service launches in the US healthcare technology management market.
- Market Development: Comprehensive information on the lucrative emerging markets by services type, by facility type.
- Market Diversification: Exhaustive information about new services, growing geographies, recent developments, and investments in the US healthcare technology management market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, service offerings, and capabilities of leading players in the US healthcare technology management market.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- TABLE 1 SERVICE TYPE
- TABLE 2 INCLUSIONS AND EXCLUSIONS
- 1.3 MARKET SCOPE
- 1.3.1 MARKETS COVERED
- 1.3.2 YEARS CONSIDERED
- 1.4 CURRENCY CONSIDERED
- TABLE 3 STANDARD CURRENCY CONVERSION RATES
- 1.5 STAKEHOLDERS
- 1.6 SUMMARY OF CHANGES
- 1.6.1 RECESSION IMPACT
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- FIGURE 1 RESEARCH DESIGN
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY RESEARCH
- FIGURE 2 PRIMARY SOURCES
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Breakdown of primary interviews
- FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS (SUPPLY SIDE): BY COMPANY TYPE AND DESIGNATION
- FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS (DEMAND SIDE): BY FACILITY TYPE AND DESIGNATION
- 2.2 MARKET SIZE ESTIMATION METHODOLOGY
- 2.2.1 REVENUE MAPPING-BASED MARKET ESTIMATION
- FIGURE 5 MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS (2022)
- FIGURE 6 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
- FIGURE 7 TOP-DOWN APPROACH
- FIGURE 8 BOTTOM UP APPROACH
- 2.2.2 GROWTH FORECAST
- FIGURE 9 US HEALTHCARE TECHNOLOGY MARKET: IMPACT ANALYSIS OF DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
- FIGURE 10 CAGR PROJECTIONS: SUPPLY-SIDE ANALYSIS
- 2.2.3 PRIMARY RESEARCH VALIDATION
- FIGURE 11 KEY INSIGHTS FROM PRIMARY EXPERTS
- 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
- FIGURE 12 DATA TRIANGULATION METHODOLOGY
- 2.4 MARKET RANK ESTIMATION
- 2.5 STUDY ASSUMPTIONS
- 2.6 RISK ASSESSMENT
- TABLE 4 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: RISK ASSESSMENT ANALYSIS
- 2.7 RESEARCH LIMITATIONS
- 2.8 RECESSION IMPACT ANALYSIS
3 EXECUTIVE SUMMARY
- FIGURE 13 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE TYPE, 2023 VS. 2028 (USD MILLION)
- FIGURE 14 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY FACILITY TYPE, 2023 VS. 2028 (USD MILLION)
4 PREMIUM INSIGHTS
- 4.1 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET OVERVIEW
- FIGURE 15 INCREASING NEED FOR CLINICAL ASSET MANAGEMENT TO DRIVE MARKET
- 4.2 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY FACILITY TYPE
- FIGURE 16 ACUTE CARE FACILITIES SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
- 4.3 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE TYPE AND FACILITY TYPE
- FIGURE 17 MAINTENANCE & REPAIR SERVICES SEGMENT IN ACUTE CARE FACILITIES ACCOUNTED FOR LARGEST MARKET SHARE FOR 2022
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- FIGURE 18 HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
- 5.2.1 DRIVERS
- 5.2.1.1 Increasing need for clinical asset management in hospitals
- 5.2.1.2 Advantages offered by ISOs
- 5.2.1.3 Growing focus on preventive medical equipment maintenance
- 5.2.1.4 Rising need to curb cybersecurity risks
- 5.2.2 RESTRAINTS
- 5.2.2.1 Shortage of skilled technicians
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Expansion of healthcare facilities
- 5.2.4 CHALLENGES
- 5.2.4.1 Preference for multi-vendor contracts
- 5.3 INDUSTRY TRENDS
- 5.3.1 CLOUD-BASED IT SOLUTIONS
- 5.4 REGULATORY ANALYSIS
- 5.4.1 ISO STANDARDS
- 5.4.1.1 ISO 9001:2015
- 5.4.1.2 ISO 13485:2016
- 5.4.2 US
- 5.4.1 ISO STANDARDS
- 5.5 VALUE CHAIN ANALYSIS
- FIGURE 19 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: VALUE CHAIN ANALYSIS
- 5.6 SUPPLY CHAIN ANALYSIS
- FIGURE 20 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: SUPPLY CHAIN ANALYSIS
- 5.7 ECOSYSTEM MAPPING
- FIGURE 21 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: ECOSYSTEM MAP
- 5.8 PORTER'S FIVE FORCES ANALYSIS
- TABLE 5 PORTER'S FIVE FORCES ANALYSIS
- 5.8.1 THREAT OF NEW ENTRANTS
- 5.8.2 THREAT OF SUBSTITUTES
- 5.8.3 BARGAINING POWER OF SUPPLIERS
- 5.8.4 BARGAINING POWER OF BUYERS
- 5.8.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.9 PATENT ANALYSIS
- 5.9.1 PATENT PUBLICATION TRENDS
- FIGURE 22 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: US PATENT PUBLICATION TRENDS (2015-2023)
- 5.9.2 TOP PATENT APPLICANTS
- FIGURE 23 TOP APPLICANTS FOR US HEALTHCARE TECHNOLOGY MANAGEMENT PATENTS (2015-2023)
- 5.10 TECHNOLOGY ANALYSIS
- 5.10.1 MACHINE LEARNING
- 5.10.2 ARTIFICIAL INTELLIGENCE
- 5.10.3 INTERNET OF THINGS
- 5.10.4 BLOCKCHAIN
- 5.10.5 BIG DATA
- 5.11 PRICING ANALYSIS
- TABLE 6 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: AVERAGE SELLING PRICE OF SERVICES OFFERED BY KEY PLAYERS
- 5.12 KEY CONFERENCES AND EVENTS
- 5.12.1 US HEALTHCARE TECHNOLOGY MARKET: KEY CONFERENCES AND EVENTS (2023-2024)
- 5.13 KEY STAKEHOLDERS AND BUYING CRITERIA
- 5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
- FIGURE 24 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY SERVICE TYPE
- 5.13.2 KEY STAKEHOLDERS IN BUYING CRITERIA
- FIGURE 25 KEY BUYING CRITERIA FOR HEALTHCARE TECHNOLOGY MANAGEMENT SERVICES
- TABLE 7 US HEALTHCARE TECHNOLOGY MANAGEMENT: BUYING CRITERIA FOR SERVICE TYPE
6 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE TYPE
- 6.1 INTRODUCTION
- TABLE 8 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY SERVICE TYPE, 2021-2028 (USD MILLION)
- 6.2 MAINTENANCE & REPAIR SERVICES
- 6.2.1 RECURRING REQUIREMENT FOR PREVENTIVE MAINTENANCE TO DRIVE MARKET
- 6.3 CAPITAL PLANNING SERVICES
- 6.3.1 RISING NEED FOR CAPITAL BUDGETING AND INVENTORY ANALYTICS TO PROPEL MARKET
- 6.4 INTEGRATED SOFTWARE PLATFORM
- 6.4.1 SIMPLIFICATION OF HEALTHCARE ASSETS DUE TO INCLUSION OF CMMS TO DRIVE MARKET
- 6.5 QUALITY & REGULATORY COMPLIANCE
- 6.5.1 STRINGENT REGULATORY COMPLIANCE FOR HEALTHCARE INDUSTRY TO FUEL MARKET
- 6.6 LABOR MANAGEMENT
- 6.6.1 PROVISION OF STREAMLINED OPERATIONS FOR OPTIMAL PRODUCTIVITY TO SUPPORT MARKET GROWTH
- 6.7 SUPPLY CHAIN SERVICES
- 6.7.1 ABILITY TO TRACK EQUIPMENT IN REAL-TIME TO FUEL MARKET
- 6.8 CYBERSECURITY SERVICES
- 6.8.1 RISING NEED TO MITIGATE DATA SECURITY RISKS TO DRIVE MARKET
7 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY FACILITY TYPE
- 7.1 INTRODUCTION
- TABLE 9 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET, BY FACILITY TYPE, 2021-2028 (USD MILLION)
- 7.2 ACUTE CARE FACILITIES
- TABLE 10 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET FOR ACUTE CARE FACILITIES, BY TYPE, 2021-2028 (USD MILLION)
- 7.2.1 ACUTE HOSPITALS
- 7.2.1.1 Rising patient volume due to increasing incidence of chronic diseases to drive market
- 7.2.2 PEDIATRIC HOSPITALS
- 7.2.2.1 Increasing efforts to improve child care to propel market
- 7.2.3 ACADEMIC MEDICAL CENTERS
- 7.2.3.1 Advanced research facilities equipped for student training to propel market
- 7.2.4 MILITARY TREATMENT FACILITIES
- 7.2.4.1 Federal government initiatives for quality care to drive market
- 7.2.5 AMBULATORY SURGERY CENTERS
- 7.2.5.1 Low costs and convenience offered by ASCs to propel market
- 7.3 POST-ACUTE CARE FACILITIES
- TABLE 11 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET FOR POST-ACUTE CARE FACILITIES, BY TYPE, 2021-2028 (USD MILLION)
- 7.3.1 LONG-TERM ACUTE CARE FACILITIES
- 7.3.1.1 Provision of specialized care for senior individuals to drive market
- 7.3.2 SKILLED NURSING FACILITIES
- 7.3.2.1 Patient requirement for long-term therapeutic care to support market growth
- 7.3.3 OTHER POST-ACUTE CARE FACILITIES
- 7.4 NON-ACUTE CARE FACILITIES
- TABLE 12 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET FOR NON-ACUTE CARE FACILITIES, BY TYPE, 2021-2028 (USD MILLION)
- 7.4.1 CLINICS
- 7.4.1.1 Growing adoption of digitized workflows to propel market
- 7.4.2 OTHER NON-ACUTE CARE FACILITIES
8 COMPETITIVE LANDSCAPE
- 8.1 OVERVIEW
- 8.2 STRATEGIES ADOPTED BY KEY PLAYERS
- 8.3 REVENUE SHARE ANALYSIS OF KEY PLAYERS
- FIGURE 26 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: REVENUE SHARE ANALYSIS OF KEY PLAYERS (2018-2022)
- 8.4 R&D EXPENDITURE OF KEY PLAYERS
- FIGURE 27 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: R&D EXPENDITURE OF KEY PLAYERS (2021 VS. 2022)
- 8.5 MARKET RANKING
- FIGURE 28 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: RANKING FOR MULTI-VENDOR OEMS (2022)
- FIGURE 29 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: RANKING ANALYSIS FOR ISOS (2022)
- 8.6 COMPANY EVALUATION MATRIX
- 8.6.1 STARS
- 8.6.2 EMERGING LEADERS
- 8.6.3 PERVASIVE PLAYERS
- 8.6.4 PARTICIPANTS
- FIGURE 30 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: COMPANY EVALUATION MATRIX (2022)
- 8.7 COMPETITIVE BENCHMARKING
- TABLE 13 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: SERVICE TYPE PORTFOLIO ANALYSIS
- TABLE 14 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: FACILITY TYPE PORTFOLIO ANALYSIS
- TABLE 15 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: COMPANY PORTFOLIO ANALYSIS
- 8.8 COMPETITIVE SITUATIONS AND TRENDS
- 8.8.1 SERVICE LAUNCHES
- TABLE 16 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: SERVICE LAUNCHES (JANUARY 2020-JULY 2023)
- 8.8.2 DEALS
- TABLE 17 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: DEALS (JANUARY 2020-JULY 2023)
- 8.8.3 OTHER DEVELOPMENTS
- TABLE 18 US HEALTHCARE TECHNOLOGY MANAGEMENT MARKET: OTHER DEVELOPMENTS (JANUARY 2020-JULY 2023)
9 COMPANY PROFILES
- 9.1 KEY PLAYERS
- (Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))**
- 9.1.1 GE HEALTHCARE
- TABLE 19 GE HEALTHCARE: BUSINESS OVERVIEW
- FIGURE 31 GE HEALTHCARE: COMPANY SNAPSHOT (2022)
- 9.1.2 SIEMENS HEALTHINEERS
- TABLE 20 SIEMENS HEALTHINEERS: BUSINESS OVERVIEW
- FIGURE 32 SIEMENS HEALTHINEERS: COMPANY SNAPSHOT (2022)
- 9.1.3 KONINKLIJKE PHILIPS N.V.
- TABLE 21 KONINKLIJKE PHILIPS N.V.: BUSINESS OVERVIEW
- FIGURE 33 KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT (2022)
- 9.1.4 TRIMEDX
- TABLE 22 TRIMEDX: BUSINESS OVERVIEW
- 9.1.5 AGILITI, INC.
- TABLE 23 AGILITI, INC.: BUSINESS OVERVIEW
- FIGURE 34 AGILITI, INC.: COMPANY SNAPSHOT (2022)
- 9.1.6 CROTHALL HEALTHCARE (SUBSIDIARY OF COMPASS GROUP)
- TABLE 24 CROTHALL HEALTHCARE: BUSINESS OVERVIEW
- FIGURE 35 COMPASS GROUP: COMPANY SNAPSHOT (2022)
- 9.1.7 SODEXO
- TABLE 25 SODEXO: BUSINESS OVERVIEW
- FIGURE 36 SODEXO: COMPANY SNAPSHOT (2022)
- 9.1.8 ABM INDUSTRIES INCORPORATED
- TABLE 26 ABM INDUSTRIES INCORPORATED: BUSINESS OVERVIEW
- FIGURE 37 ABM INDUSTRIES INCORPORATED: COMPANY SNAPSHOT (2022)
- 9.1.9 RENOVO SOLUTIONS
- TABLE 27 RENOVO SOLUTIONS: BUSINESS OVERVIEW
- 9.1.10 INTERMED GROUP, INC.
- TABLE 28 INTERMED GROUP, INC.: BUSINESS OVERVIEW
- 9.1.11 JANNX MEDICAL SYSTEMS
- TABLE 29 JANNX MEDICAL SYSTEMS: BUSINESS OVERVIEW
- 9.1.12 ORACLE
- TABLE 30 ORACLE: COMPANY OVERVIEW
- FIGURE 38 ORACLE: COMPANY SNAPSHOT (2022)
- *Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
10 APPENDIX
- 10.1 DISCUSSION GUIDE
- 10.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 10.3 CUSTOMIZATION OPTIONS
- 10.4 RELATED REPORTS
- 10.5 AUTHOR DETAILS
