Healthcare IT spending hits $961b by 2030

It is driven by the rising need for interoperability amongst healthcare systems.

The global healthcare IT market is projected to grow from $480.49b in 2025 to $961.26b by 2030, at a CAGR of 14.9%, according to MarketsandMarkets.

Growth is driven by the rising need for interoperability amongst healthcare systems, as hospitals, laboratories, and billing platforms exchange increasing amounts of data.

Government initiatives like the 21st Century Cures Act and advances in cloud computing and AI are further fueling this trend.

The software segment, especially cloud-based solutions, is expected to see the fastest growth, offering healthcare providers flexible, mobile, and secure access to patient data, along with robust disaster recovery and regulatory compliance.

Providers hold the largest market share, supported by rising chronic conditions, an aging population, and expanded healthcare access under reforms like the Affordable Care Act.

The global population over 60 is expected to reach 1.4 billion by 2030, driving higher demand for healthcare services.

Asia Pacific will experience the highest regional growth, fuelled by rising incomes, aging populations, and government initiatives such as China’s Healthy China 2030 plan.

India’s healthcare sector has grown over 20% in five years, boosted by public and private investments and improved medical technologies.