Healthcare IT Market Worth $228.79 Billion by 2020 - Increasing Use of Data-Driven Technologies - Research and Markets

May 12, 2016, 05:10 ET from Research and Markets

DUBLIN, May 12, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Healthcare IT Market by Product & by End User - Global Forecast to 2020" report to their offering. 

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The global healthcare IT market is estimated to reach USD 228.79 Billion by 2020, growing at a CAGR of 13.4% during the forecast period. 

The healthcare IT market is primarily driven by the continuously increasing healthcare expenditure, increasing use of data-driven technologies, introduction of various healthcare reforms and changing regulations, and growing pressure on healthcare organizations to curtail healthcare costs with the rising incidences of chronic disorders and increasing geriatric population. In addition to the demand for information technology solutions from healthcare providers, the growing need of healthcare insurance providers to efficiently manage an in-depth record of claims and reimbursements is also expected to contribute to the growth of the global market in the coming years. 

However, the adoption rate of healthcare information technology is relatively low in many regions due to the high costs incurred for implementation, maintenance, and upgrading services; dearth of in-house IT skilled resources; and inadequate IT infrastructure. In addition, rising incidences of data breaches, high costs incurred on training staff, technical difficulties in integrating healthcare IT solutions, and interoperability issues are other key reasons slowing down the adoption of healthcare IT solutions, especially in emerging markets. 

North America accounted for the largest share of the market in 2014, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region represents the fastest-growing market for healthcare IT, primarily due to the increasing healthcare expenditure, rising medical tourism, government initiatives to create eHealth platforms, and growth in the overall healthcare industry. In addition, increasing investments in the healthcare industry by key market players, rising demand for advanced healthcare technologies, and expansion of private sector hospitals to rural areas in countries such as China, Taiwan, and India are driving the growth of this region.

Report Structure:  

1 Introduction 

2 Research Methodology 

3 Executive Summary 

4 Premium Insights 

5 Market Overview 

6 Industry Insights 

7 Global Healthcare IT Market, By Product 

8 Global Healthcare IT Market, By End User 

9 Global Healthcare IT Market, By Region 

10 Competitive Landscape 

11 Company Profiles 

Companies Profiled:

  • Allscripts Healthcare Solutions, Inc.
  • Athenahealth, Inc.
  • Cerner Corporation
  • EPIC Systems Corporation
  • Ge Healthcare
  • Infor, Inc.
  • Mckesson Corporation
  • Oracle Corporation
  • Philips Healthcare (Philips)
  • Siemens Healthcare (Siemens AG)

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SOURCE Research and Markets