DUBLIN--(BUSINESS WIRE)--The "Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management, Claims Management) End User (Provider, Payer) - Global Forecast to 2021" report has been added to Research and Markets' offering.
The global healthcare IT market is estimated to reach USD 280.25 Billion by 2021 at a CAGR of 15.9% during the forecast period of 2016 to 2021.
The research report discusses the key market drivers, restraints, challenges, trends, and opportunities in the global healthcare IT market and its submarkets.
The majority of the demand for healthcare IT solutions is driven by the growing need to reduce healthcare costs while adhering to the regulatory requirements set by government organizations for ensuring safety, security, and confidentiality of patient information. The growing adoption of health information exchanges (HIEs) and EHR systems and improved quality of care and clinical outcomes are some of the other factors driving market growth. In addition to the growing demand for information technology solutions from healthcare providers, the growing need of healthcare insurance providers to efficiently manage a comprehensive record of claims and reimbursements is also expected to contribute to the growth of the global healthcare IT market during the forecast years.
North America accounted for the largest share in 2015, 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.
Key Market Drivers
- Growing Need to Manage Regulatory Compliance Through Healthcare IT Solutions
- Rising Need to Curtail Healthcare Costs
- Government Support for HCIT Solutions
- High Return on Investment for HCIT Solutions
- Growing Focus on Improving the Quality of Care and Clinical Outcomes
- Rising Usage of Big Data
- Emergence of Accountable Care Organizations
- High Prevalence of Chronic Diseases
Key Market Restraints
- High Cost of Deployment
- Reluctance Among Medical Professionals to Adopt Advanced Healthcare IT Tools
Key Market Opportunities
- Increasing Consolidation in the Healthcare Industry
- Mobile Platforms and Cloud-Based Solutions
- Huge Potential for Healthcare IT Vendors in APAC and Other Emerging Markets
Key Market Challenges
- Integration of Healthcare IT Solutions Within Healthcare Organizations
- Data Security Concerns
- Lack of Skilled IT Professionals in the Healthcare Industry
- Allscripts Healthcare Solutions, Inc.
- Athenahealth, Inc.
- Cerner Corporation
- Cognizant Technology Solutions Corporation
- Dell Technologies Inc.
- EPIC Systems Corporation
- GE Healthcare
- Infor, Inc.
- Mckesson Corporation
- Optum, Inc. (A Part of Unitedhealth Group Incorporated)
- Oracle Corporation
- Philips Healthcare
For more information about this report visit https://www.researchandmarkets.com/research/2vwcnd/global_healthcare?w=4