CHICAGO, Aug. 11, 2023 /PRNewswire/ — In the near future, the US healthcare technology management industry is poised for a transformative evolution driven by cutting-edge innovations. The convergence of artificial intelligence, telemedicine, data analytics, and interconnected medical devices will revolutionize patient care, operational efficiency, and decision-making processes. Advanced remote monitoring systems will enable real-time health tracking, leading to personalized treatment plans and early intervention. AI-driven diagnostic tools will enhance accuracy and speed of medical assessments, while virtual reality and augmented reality applications will revolutionize medical training and patient education. However, alongside these advancements, the industry will also grapple with challenges related to data security, regulatory compliance, and equitable access to technology-driven healthcare solutions.
US Healthcare Technology Management Market in terms of revenue was estimated to be worth $8.4 billion in 2023 and is poised to reach $17.3 billion by 2028, growing at a CAGR of 15.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. A growing emphasis on preventative maintenance of medical equipment and the need for better asset management in hospitals are two factors driving market growth. The advantages that ISOs provide and the growing demand for data security further support this market’s growth. The US Healthcare Technology Management Market is further segmented based on the type of services and by facility type.
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Browse in-depth TOC on “US Healthcare Technology Management Market”
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US Healthcare Technology Management Market Scope:
Market Revenue in 2023
Estimated Value by 2028
Poised to grow at a CAGR of 15.6%
Market Size Available for
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Type of Service and Facility type
Updated financial information / product portfolio of players
Key Market Opportunities
Increasing consolidation in the US healthcare industry
Key Market Drivers
Rising focus on preventive medical equipment maintenance
“The maintenance & repair segment accounted for the largest share of the market.”
Based on the type of service, the healthcare technology management market is segmented into maintenance & repair, integrated software platform, cyber security, labor management, capital planning, supply chain (procurement), and quality & regulatory compliance. The maintenance & repair segment accounted for the largest share of 35.9% of the US healthcare technology management market in 2022. Drive for better patient safety is impacting the growth of this, the increasing use of innovative medical supplies and technologies across a range of healthcare facilities, and government initiatives that support the use of imaging systems.
“Acute care facilities accounted for the largest share of the US healthcare technology management market in 2022.”
Based on facility types, the US healthcare technology management market is segmented into acute care, non-acute care, and post-acute care facilities. Acute care facilities are expected to grow at the highest CAGR during the forecast period. The significant market share and rapid growth of the acute care facilities segment can be largely attributed to elements like the general rise in patient volumes, the demand for better clinical asset management, and the need to raise patient care standards, all of which are driving up demand for healthcare technology management services.
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US Healthcare Technology Management Market Dynamics:
- Rising focus on preventive medical equipment maintenance
- Dearth Of Skilled Technicians and Clinical/Biomedical Engineers
- Increasing consolidation in the US healthcare industry
- Preference for multi-vendor contracts
Key Market Players:
Prominent players 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).
- In 2023, RENOVO Solutions (US) partnered with Censinet (US). The partnership will work toward reducing the cybersecurity risk of medical devices and healthcare Internet-of-Things (IoT). Renovo will offer Censinet RiskOps, the cloud-based risk exchange that enables total automation of third-party risk management through RENOVOSecure.
- In 2022, Orale (US) launched Oracle Fusion Cloud Enterprise Performance Management (EPM) solution that allows healthcare organizations to quickly model scenarios, optimize resources, determine future demand, and make better financial, workforce, and patient care decisions.
- In 2022, Siemens Healthineers (Germany) launched Technology Optimization. Technology Optimization Partnerships are a strategic approach to multivendor service that leverages connected solutions to help hospitals and health systems make data-driven decisions, enhance financial performance, and improve equipment utilization across the enterprise.
- In 2021, Sodexo (France) launched a unique global brand, “Sodexo Live,” to unify and leverage all of the Group’s expertise across the world in sectors of sports events and hospitality.
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US Healthcare Technology Management Market Advantages:
- Enhanced Patient Care: Integration of advanced technologies improves diagnosis accuracy, treatment personalization, and real-time health monitoring, leading to better patient outcomes and overall healthcare quality.
- Operational Efficiency: Healthcare technology management solutions optimize processes, reducing administrative burdens, minimizing errors, and resulting in cost savings and resource allocation improvements.
- Data-Driven Decision Making: Emphasis on data analytics and interoperability enables evidence-based decisions for individual patients and population health management, enhancing the effectiveness of healthcare delivery.
- Innovation Ecosystem: Robust research and development environment fosters continuous advancements, ensuring the US remains a leader in healthcare innovation and technology adoption.
- Telemedicine Accessibility: Telemedicine and remote patient monitoring technologies improve access to healthcare services, especially for remote and underserved areas, promoting inclusivity and equitable healthcare delivery.
- Medical Training Advancements: Technology-driven medical training, such as virtual reality and augmented reality applications, enhances the skills and capabilities of healthcare professionals, leading to improved patient care.
- Efficient Resource Allocation: Automation and technology management tools assist in optimizing resource allocation, enabling healthcare providers to efficiently manage equipment, personnel, and facilities.
- Patient Engagement: Digital health solutions empower patients to take an active role in their health management through remote monitoring, mobile apps, and online health portals, leading to better engagement and adherence to treatment plans.
- Regulatory Compliance: Technology management systems help healthcare facilities maintain compliance with evolving regulations and standards, ensuring patient safety and data security.
- Continuous Improvement: Continuous monitoring and maintenance of medical devices and systems ensure their proper functioning, reducing downtime and ensuring a consistent level of patient care.
- Cost-Effectiveness: Well-managed healthcare technology reduces unnecessary expenditures by identifying maintenance needs and preventing equipment breakdowns, contributing to cost-effectiveness.
- Interconnectivity: Integration of medical devices and systems allows for seamless data sharing, enabling a comprehensive view of patient health and enabling healthcare professionals to make informed decisions.
- Precision Medicine: Healthcare technology supports the implementation of precision medicine approaches, tailoring treatments to individual patients based on their genetic, environmental, and lifestyle factors.
- Evolving Patient-Provider Relationship: Technology-driven communication tools enable secure and efficient patient-provider interactions, improving communication and strengthening the patient-provider relationship.
- Global Competitiveness: Advancements in healthcare technology management bolster the global competitiveness of the US healthcare system, attracting international collaborations and investments.
These advantages collectively contribute to the growth, effectiveness, and sustainability of the US Healthcare Technology Management market.
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Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
For media inquiries, partnerships, or more information, email us at [email protected]
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
BingX Collaborates with WunderTrading to Elevate Crypto Automated Trading
SINGAPORE, Sept. 27, 2023 /PRNewswire/ — BingX, a leading global cryptocurrency exchange, is thrilled to announce its integration with WunderTrading, a cutting-edge platform that allows users to trade and invest crypto seamlessly using automated trading bots. This strategic partnership is aimed at enhancing the automated trading experience for BingX users and introducing a new level of convenience and innovation.
WunderTrading is a cloud-based cryptocurrency trading platform that simplifies cryptocurrency trading experience for beginners. Users can easily copy strategies of renowned traders or create their own. The platform offers an advanced trading terminal and automated bots integrated with TradingView, allowing users to manage portfolios efficiently within a single app. WunderTrading stands out by consolidating trading tools, enhancing user experience, and introducing unique features like the Spread-trading Terminal.
The integration of BingX and WunderTrading offers BingX users a significant advantage. With access to TradingView integration and the innovative Spread-trading Terminal, users can automate their trading strategies and diversify their portfolios with minimal risk. The Spread-trading terminal enables BingX users to choose assets for constructing a spread and will execute buy and sell orders simultaneously for the selected pairs. This integration empowers BingX users to create and fine-tune crypto trading bots swiftly, providing a unique opportunity to optimize their trading while minimizing market volatility risks.
Megan Nyvold, Head of Branding at BingX, expressed her excitement about the collaboration, saying, “BingX is always striving to offer our users the most innovative and user-friendly tools to navigate the crypto market with efficiency and greater ease. Our partnership with WunderTrading is a significant step forward. With this integration, we empower our users to trade smarter, diversify their portfolios, and navigate the crypto market with newfound confidence. We’re excited to see our users leverage the power of automated trading through WunderTrading and make the most of this enhanced trading experience.”
As BingX and WunderTrading join forces, users can look forward to an enhanced trading journey filled with innovative tools and features designed to optimize their trading strategies.
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Please visit https://bingx.com to learn about BingX.
- Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
- ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
- BingX Collaborates with WunderTrading to Elevate Crypto Automated Trading
- OKX Proof of Reserves Ranked Highest Quality Among Major Exchanges as 11th Consecutive Monthly Reserves Report is Published
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