Global Healthcare IT Market to Post 13.4% CAGR through 2020, Says M&M in Its In-demand Report Now Available at MarketPublishers.com13 Sep 2016 • by Natalie Aster
LONDON – Over the past ten years, healthcare IT systems have come up as a powerful tool to improve the quality of patient care and minimise the costs of the delivery of healthcare services for providers. The market has undergone transformation, from the formation of electronic patient record (EPR) systems in the form of electronic health records (EHRs)/ electronic medical records (EMRs) to the convergence of technologies to facilitate the meaningful usage of electronic health-related information and develop optimal interoperable solutions. The push towards foreseeable outcomes and a better quality of care represent one of the main drivers of innovation in healthcare information technologies (HITs).
Globally, the healthcare IT marketplace has exhibited stable growth over the past 5 years, and is further poised to register at 13.4% CAGR through 2020, reaching a value of USD 228.79 billion. This growth is owing to the increasing uptake of HCIT solutions by healthcare providers to be compatible with the regulatory requirements for patient safety and care, surging need to cut down soaring healthcare costs, and increasing need to enhance healthcare quality whilst maintaining operational efficiency. Meantime, the increased cost of HCIT solutions and dearth of awareness about the advantages of HCIT solutions continue to be the most essential challenges to the more widespread uptake of HCIT solutions globally.
Europe and North America together captured around 75%–80% of the overall healthcare IT market as of 2015, and are poised to register a robust CAGR to 2020. Changeable regulatory requirements for enhancing healthcare quality and increasing patient safety and growing healthcare spending are amid key factors propelling the growth of the healthcare IT market in these two regions.
In-demand market research report “Healthcare IT Solutions Market” elaborated by MarketsandMarkets (M&M) provides a comprehensive analysis of the healthcare IT market in terms of value for 2013, 2014, and 2015, alongside detailed forecasts till 2020. The market is segmented by product and end-use sector, with each market carefully assessed by geography (region/country) to provide deep information on a global level. It offers detailed market analysis of versatile HCIT solutions available in the market. The research publication casts light on the key market growth drivers & restraints as well as reviews the main challenges. The report delves into competitive scenario and takes a detailed look at the key players, as well as identifies key growth prospects and opportunities.
Many other in-demand reports by the publisher are offered at MarketsandMarkets page.