The global healthcare IT market
is anticipated to reach USD 104.5 billion by 2020, according to a new report by
Grand View Research, Inc. Increasing demand for enhanced healthcare facilities
and introduction of technologically advanced systems are expected to boost
industry growth.
Increasing geriatric population
prone to chronic diseases resulting into high patient base is triggering the
demand for sophisticated healthcare facilities. Furthermore, increasing number
of patients requiring home healthcare acts as an effective growth driver for
this market.
In depth research report on Healthcare IT Market
According to a report published
by the U.S. Centers for Disease Control and Prevention (CDC) in 2011, the
number of patients needing home healthcare was nearly 4.7 million in the U.S.
and is on a constant rise, which is further expected to fuel the healthcare IT
market demand.
Advent of technologically
advanced software, such as interoperable system and cloud computing, is
expected to attract more investors focus on developing integrated healthcare
system to curb problems associated with conventional procedures of record
keeping. For example, the uses of e-healthcare record system to maintain
patient database help to provide instant information about patients’ health in
case of emergency.
Telecommunication and
telehealth accounted for over 40.0% of the market share owing to the high usage
rates in 2013. Introduction of technological advancements such as Teleimmersive
Environment for Everybody (TEEVE) and Session Initiation Protocol (SIP) are the
factors promoting this segment’s growth.
Electronic Health Records (EHR)
is expected to register an upward shift to reach up to USD 26.72 billion in 2020.
Growth is primarily driven by the rising demand for integrated information
system in the field of healthcare IT. Faster accessibility and low maintenance
cost are the two most significant factors contributing towards the rising
demand of these EHR systems.
In 2013, North America market
was valued at around USD 20.0 billion owing to the factors such as favorable
government initiatives pertaining to the introduction of technologically
advanced healthcare IT facilities, sophisticated healthcare infrastructure, and
increasing patient awareness levels coupled with relatively higher healthcare
expenditures in the region.
On the other hand, Asia Pacific
healthcare IT market is expected to reach at over USD 19.6 billion by
registering lucrative growth rate in 2020. Growth is attributed to the rising
healthcare expenditure, larger untapped opportunities, and growing disposable
income level.
Prominent players operating in
this industry include Athenahealth Inc., GE Healthcare, Agfa Healthcare,
Philips Healthcare, E-MDS Inc., Carestream Health McKesson Corporation,
Carestream Health eClinicalworks, and Hewlett-Packard.
Grand View Research has segmented
the global healthcare IT market on the basis of application and region:
Healthcare IT Application Outlook (Market Revenue in USD
Million, 2012 - 2020)
·
Electronic Health Records
·
Computerized Provider Order
Entry Systems
·
Electronic Prescribing Systems
·
PACS
·
Lab Information Systems
·
Clinical Information Systems
·
Telemedicine and Telehealth
·
Others
Healthcare IT Regional Outlook (Market Revenue in USD
Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
Rest of the World
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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