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Over the past decade, healthcare IT systems have emerged as powerful tools to improve the quality of care to patients and minimize the cost of healthcare delivery for providers. The market has evolved, from the creation of electronic patient records in the form of EMRs/EHRs to the convergence of technologies to enable the meaningful use of electronic health information and develop interoperable solutions. The push towards predictable outcomes and a higher quality of care is one of the key factors driving innovation in healthcare information technologies. However, the high cost of HCIT solutions and lack of awareness on the benefits of HCIT solutions remain the biggest challenges to the wider adoption of healthcare IT solutions.
The global healthcare IT market is poised to reach USD 228.79 billion by 2020 at a CAGR of 13.4% during the forecast period (2015 to 2020). The demand for healthcare IT solutions is fueled by the growing need to reduce healthcare costs while adhering to regulatory requirements for ensuring the safety, security, and confidentiality of patient information. While an increasing demand for IT solutions from healthcare providers is expected to be the biggest growth driver for this market, an increasing need for data management solutions and services from healthcare insurance providers is also expected to contribute to overall market growth.
In this report, the healthcare IT market is segmented by product, end user, and geography. By product, the healthcare IT market is segmented into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. In 2015, the healthcare providers segment accounted for the largest share of the global healthcare IT market. The healthcare provider solutions segment is further segmented into clinical and non-clinical solutions. The growth of the healthcare provider solutions market is mainly driven by the increasing demand for clinical HCIT solutions. In this market, the clinical HCIT solutions segment is expected to grow at the highest CAGR during the forecast period.
Reasons to Buy the Report
This Healthcare IT Market Tracker is designed to enable HCIT solution vendors and related stakeholders to analyze growth in the healthcare IT market in an efficient manner. This market dashboard provides a holistic view of the healthcare IT market, by product and by country. Each product and end-user market covered in this tracker is studied at the geographic (country/regional) level as well.
Along with the market size for various HCIT solutions, this dashboard also provides benchmarking of more than 30 leading players in the global Healthcare IT market on the basis of their product offerings and geographic presence. It also provides details on the strategic developments of more than 180 HCIT solution providers during 2011 to April 2016.