Rockville, MD (PRWEB) May 21, 2013
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.
The major factors driving the growth of the healthcare information technology market across the globe are rise in pressure to cut healthcare cost, growing demand to integrate healthcare systems, high rate of return on investment while using healthcare systems, financial support from the U.S. government, growing medical tourism in the Asian region, government initiatives, rise in aging population, growing demand of CPOE adoption in order to reduce medication errors, and rise in incidences of chronic disorders.
However, a few factors restricting the growth of the market are the fragmented nature of the HCIT market, high initial cost of HCIT solutions and high maintenance cost of the HCIT systems. In addition, inconsistent regulatory environment in developed countries such as U.S., U.K., Germany and developing countries such as India, China, and Brazil are major barriers to the growth of the global HCIT market.
North America (U.S. and Canada) commanded the highest share of the healthcare information technology market due to firm government support in terms of investment and incentives, growing demand of integrated healthcare IT system to achieve high return on investment, enhanced patient consumerism for quality care and safety, and rise in aging population.
However, the Asia-Pacific market is slated to grow at the highest CAGR as healthcare organizations in the region are actively moving towards digitization to ensure patient safety and care, and to streamline workflow systems in large healthcare enterprises.
For more information, visit
The MarketsandMarkets edge: Worldwide, market research reports are primarily sold for numbers, market segmentation and competitive landscape, within the business leaders.
The analyst working with MarketsandMarkets come from the renowned publishing houses and market research firms globally adding their expertise and domain understanding. We get the facts from over 22,000 news and information sources, a database of hundred thousands of key industry participants and draw on our relationship with more than 900 market research companies globally.
In course of our ongoing relationship with research partners for over a period of three years, our clients have discovered that we can not only head-start any given research project immediately but also execute it in a stipulated time frame. We always prioritize our commitments of confidentiality. The fact that a high percentage of our business comes from client referrals bears ample testimony to the quality of our market research reports.
MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world’s most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com’s Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance. For more information, call Cindy Frei at 240.747.3014 or visit http://www.marketresearch.com