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Worldwide Healthcare IT Market 2014 to 2020 – Industry Survey

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Worldwide Healthcare IT Market 2014 to 2020 – Industry Survey
The global market for healthcare IT is expected to reach USD 103.0 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for point of care diagnostics, home healthcare and the growing global base of geriatric population are two of the most significant drivers of this market operating at a macro-environmental level. Moreover, improvement in the market penetration rates of internet witnessed over the last decade (2000 to 2010) has created a strong platform for an expedited implementation of healthcare IT across the globe. Some of the other drivers of this market include increasing prevalence of chronic diseases such as asthma, diabetes and cardiovascular diseases and the presence of high unmet medical needs in Asia Pacific and Latin American countries coupled with constantly improving healthcare and information technology infrastructures. The implementation of healthcare reforms such as the 12th Five Year Plan in China and the consequent introduction of private healthcare establishments in this country will also fuel the future growth of this market.

The overall healthcare IT market was dominated by the telemedicine and telehealth market in terms of revenue share in 2012. Its market share was calculated at approximately 39.0% in 2012. The changing patient preferences in terms of avoiding or reducing hospital stays, growing demand for home healthcare and the introduction of SIP (session initiation protocol) and TEEVE (Tele-immersive environment for everybody) are some of the factors accounting for its high market share.

The report “Healthcare IT Market Analysis and Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/healthcare-it-market

Further key findings from the study suggest:

• The global electronic prescribing systems market is expected to grow at a CAGR of 24.8% from 2014 to 2020 to reach an
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