The Global Healthcare IT Market Report - North America Commands Highest Market Share However Asia-Pacific Set to Have the Highest CAGR
DUBLIN, July 30, 2013 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/r5754x/healthcare_it) has announced the addition of the "The Global Healthcare IT Market Report" to their offering.
The global healthcare IT market is estimated to grow at a CAGR of 7.0% to reach $ 56.7 billion by 2017 from $40.4 billion in 2012 due to the significant demand for clinical information technology, administrative solutions and services. In this report, the market is segmented on the basis of its applications, delivery modes, and components. Based on application, the global healthcare information technology is segmented into provider (clinical information technology and non-clinical information technology) and payer, while the market by delivery mode is further categorized as on-premises, web-premises, and cloud-premises. The healthcare information technology by component comprises of hardware, software, and services.
The major factors driving the growth of the healthcare information technology market across the globe are rise in pressure to cut healthcare cost, growing demand to integrate healthcare systems, high rate of return on investment while using healthcare systems, financial support from the U.S. government, growing medical tourism in the Asian region, government initiatives, rise in aging population, growing demand of CPOE adoption in order to reduce medication errors, and rise in incidences of chronic disorders. However, a few factors restricting the growth of the market are the fragmented nature of the HCIT market, high initial cost of HCIT solutions and high maintenance cost of the HCIT systems. In addition, inconsistent regulatory environment in developed countries such as U.S., U.K., Germany and developing countries such as India, China, and Brazil are major barriers to the growth of the global HCIT market.
North America (U.S. and Canada) commanded the highest share of the healthcare information technology market due to firm government support in terms of investment and incentives, growing demand of integrated healthcare IT system to achieve high return on investment, enhanced patient consumerism for quality care and safety, and rise in aging population. However, the Asia-Pacific market is slated to grow at the highest CAGR as healthcare organizations in the region are actively moving towards digitization to ensure patient safety and care, and to streamline workflow systems in large healthcare enterprises.
The key players in the market are McKesson Corporation (U.S.), Epic (U.S.), Cerner Corporation (U.S.), Carestream Health, Inc. (U.S.), Athenahealth, Inc. (U.S.), Siemens Healthcare (Germany), Medical Information System, Inc. (U.S.), Allscripts Healthcare Solutions Inc. (U.S.), GE Healthcare (U.K.), Agfa Healthcare ( Belgium), NextGen Healthcare Information System, LLC (U.S.), Phillips Healthcare (The Netherlands), Hewlett-Packard (U.S.), among others.
For more information visit http://www.researchandmarkets.com/research/r5754x/healthcare_it.
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
SOURCE Research and Markets
More by this SourceView all news by Research and Markets
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.