Major Players - InterSystems (U.S.), Corepoint Health (U.S.), Siemens AG (Germany), Orion Health (New Zealand), Infor (U.S.), Interfaceware (Canada), Enovacom (France), Cerner Corporation (U.S.), Capsule (U.S.), Accenture (Ireland), Capgemini (France)
(PRWEB) August 25, 2014
The “Healthcare IT Integration Market by Products (Interface Engine, Medical Device Integration, Media Integration), Services (Implementation, Maintenance, Training), Applications (Hospitals, Radiology, Laboratory, Clinics, HIE) - Global Forecast to 2018” analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
This report studies the global healthcare Integration market, with a forecast to 2018. The healthcare integration market is expected to grow at a CAGR of 9.6% in the forecast period, to reach $2,745.9 million by 2018 from $1,737.3 million in 2013.
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The healthcare IT integration platform and tools form the backbone of any successful healthcare information network. The global healthcare integration market has experienced a substantial growth in the past decade, and so has the market for integration tools and platforms. However, the market growth in Europe was somewhat restricted in the past 2 to 3 years, due to the impact of the Eurozone debt crisis and global recession in past few years.
The growth in the market can be attributed to the rising healthcare costs, which has compelled governments in many developed countries across the world to initiate cost control initiatives in their respective healthcare systems. Globally, there has been a continuous demand for healthcare integration; this demand is triggered by factors such as the presence of strong government support and initiatives, growing need to integrate healthcare systems, and efforts from healthcare providers to maximize their returns on investment. However, various interoperability issues, fragmented end-users market, and high cost of implementation still remain some of the challenges that restrict the wider adoption of integration tools within the healthcare industry.
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By 2018, North America will continue to dominate the healthcare integration market, followed by Europe, Asia, and RoW. The U.S. has been among the frontrunners in the development of IT infrastructure for the healthcare industry and is a well-established market for healthcare IT solutions in the world. However, the market in the U.S has a scope to grow further, owing to the presence of large hospitals in the country that demand integrated healthcare networks, and the availability of government funding for healthcare providers for the development of statewide and nationwide healthcare information exchanges.
As Asia is a relatively new entrant in the healthcare integration market, the market share of this region is not expected to change significantly in the next five years. However, the increasing government initiatives supporting the implementation of IT in the healthcare industry will drive the growth of this market in the Asian region.
The global healthcare IT integration industry is in a phase of transition, with many manufacturers struggling to maintain their profit margins. During 2011 to 2014, agreements, collaborations, and partnerships were the key strategies followed by major players. This strategy was employed by players to achieve product enhancement, gain immediate technological competency, and widen their geographic presence. The key players that adopted this strategy are Corepoint Health (U.S.), Intersystems (U.S.), Cerner Corporation (U.S.), Orion Health (New Zealand), and Infor (U.S.).
The prominent players in the market are InterSystems (U.S.), Corepoint Health (U.S.), Siemens Healthcare (Germany), Orion Health (New Zealand), Infor (U.S.), Interfaceware (Canada), Enovacom (France), Cerner Corporation (U.S.), Capsule (U.S.), Accenture (Ireland), Capgemini (France), IBM Corp. (U.S.), Allscripts (U.S.), Oracle (U.S.), and AVI-SPL (U.S.).
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