Tuesday, May 14, 2013

Health IT Market: $56.7 Billion by 2017

A report by research firm MarketsandMarkets, published in Clinical Innovation & Technology, the global health IT market will grow to $56.7 billion by 2017.

While the US and Canada is estimated to account for the largest share of the market, Asia-Pacific will have the steepest growth owing to the region's rapid adoption of health IT systems. In part the outside North America growth will be driven by medical tourism as patients seek lower cost care.

"The global healthcare IT market is estimated to grow at a CAGR of 7.0% to reach $ 56.7 billion by 2017 from $40.4 billion in 2012 due to the significant demand for clinical information technology, administrative solutions and services."
- Markets and Markets, Research Firm
In North America factors contributing to growth include "government investment/incentives, increased patient engagement, higher demand for integrated health IT systems."

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Sources:
(a) Global Health IT Market Poised to Reach 56.7 Billion by 2017 - iHealthBeat.com, 05/13/2013
(b) Healthcare IT Market By Application [Provider IT (EMR, PACS, CPOE, RIS, CDSS, RCM, Claims Management, Payroll), Payer IT (CRM, Fraud Detection)], Delivery Mode (On-Premises, Web-Based Services & Cloud Computing) & Component – Global Forecasts to 2017 - Markets and Markets, May 2013

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