The global healthcare IT market size was valued at USD 125 billion in 2015, reaching USD 297 billion by 2022, with a CAGR of 13.2%.
This market growth is due to the increasing demand for patient safety & data reliability, the need to minimize healthcare costs, and the introduction of various healthcare policies that promote the use of HCIT in healthcare facilities.
Healthcare IT bridges all healthcare companies, minimizing human errors and reducing costs. It is also expected that, during the forecast period, increased demand for better healthcare facilities and increased demand for integrated healthcare systems will drive this sector.
North America accounts for the largest share of the healthcare IT market. The large shares of this region can be attributed to the technical capabilities of the healthcare industry and the existence in these regions of well-established healthcare IT networks.
Asia-Pacific has huge market potential. India and China, led by South Korea, are some of the fastest growing economies. Consequently, the government has made numerous efforts to improve healthcare services and provide better infrastructure in these rapidly developing economies.
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