(PRWEB) August 29, 2014
The European Healthcare Payer IT report defines and segments the concerned market in Europe with analysis and forecast of revenue. The healthcare payer IT market in Europe was valued at $2,908.769 million in 2013, and is estimated to grow to $3,686.13 million by 2018, at a CAGR of 4.9% from 2013 to 2018.
Browse through the TOC of the European Healthcare Payer IT market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation of the healthcare payer IT market in the same region, and is supported by various tables and figures.
Europe is the second-largest market in the global healthcare payer IT market, with a share of 23.3% following North America. This growth is mainly due to the growing pressure on healthcare payers to cut costs and reduce the time lags. The European market is slowly emerging after the Eurozone debt crisis in 2009. Even after the financial crisis, Europe has been successful in implementing the payer IT solutions to meet the needs of the stakeholders in the European regions. Countries in Europe are improving their purchasing power, and thus gained the attraction of foreign players into the European healthcare payer IT market. However, Moreover, due to the increasing aging population, the number of younger taxpayers declined, which led to less financial support by government in this sector. This provided the private healthcare payer IT firms an opportunity to flourish in the European region. Oracle (U.S.), Aspect Software (U.S.), Cerner Corporation (U.S.) and Avaya (U.S.) are the prominent players in Europe.
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This market is segmented and forecasted based on components and deployments of healthcare payer IT market in Europe. The components segment comprises hardware, software, and services, while the deployments segment include are on-premise, cloud-based, web-based. The market is further segmented and forecast based on major countries, such as Germany, France, UK, Italy, and Spain. The market is also segmented and analyzed based on the end-users.
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This report includes the market share and value chain analyses, along with market metrics such as drivers, restraints, and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of the key players in this market, including major companies of the market.
Asian Healthcare Payer IT Market
Globally, Asia occupied a share of 12.5% in the healthcare payer IT market and was valued at $1.6 billion in 2013. It is poised to grow at a CAGR of 5.8%, from 2013 to 2018. The growth of this market is attributed to the government initiatives and the increasing penetration of health insurance in the Asian countries. HCIT solutions in this market also help in reducing errors and improve operational efficiency. However, in Asia, the out-of-pocket expenses in very high compared to other countries. It was close to 80% in India and China in 2011. Interoperability issues also restrain the growth of the Asian payer IT market to an extent. Growing medical tourism in the Asian countries provides significant opportunities for growth of this market.
Japan is the largest market for payer IT in Asia, and was valued at $550 million. India and China will be the two fastest-growing countries in this market.
In this report, the Asian healthcare payer IT market is segmented on the basis of deployment, component, product, types, and end-user. Web-based deployment mode is the most adopted technology, and was valued at $972.2 million in 2013. The services segment occupied a share of 35.8% in 2013, and was worth $559.4 million. Integrated solutions of CRM occupied a higher share compared to the standalone ones. Hospitals are the major end-users for payer IT solutions in Asia, and will also drive the market in the near future.
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