BCC Projects Clinical Healthcare IT Technologies Market to Reach $26.1 Billion by 2017

The clinical healthcare IT technologies market is expected to grow to nearly $26.1 billion in 2017 after increasing at a CAGR of 18.5%. Software applications is expected to remain the largest segment accounting for 72.2% of the market share in 2017.

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BCC Research

Wellesley, MA (PRWEB) May 09, 2013

BCC Research estimates the total market for the clinical healthcare IT technologies covered in this report at more than $9.5 billion in 2011 and almost $11.2 billion in 2012. The market is projected to grow to approximately $26.1 billion in 2017, a compound annual growth rate (CAGR) of 18.5% over the next five years.

Software applications accounted for 74.6% of the market in 2011, although their share is projected to shrink to 72.2% by 2017. The share of dedicated hardware, chiefly equipment used in telemedicine, is projected to rise from 25.3% to 27.7% over the same time period. Online services, mainly electronic subscribing (e-prescribing) networks, account for only a small percentage of the market.

Electronic health records (EHRs) accounted for the largest share of the market (57.6%) in 2011, followed by telemedicine (25.1%) and picture archiving and communications systems (PACS) (11.0%). EHRs and telemedicine are growing faster than any other market segment, both with CAGRs of close to 20% and, as a result, they should increase their market shares to 62.0% and 27.6%, respectively, by 2017. Meanwhile, PACS’ share should drop to 5.4%.

The emergence of IP-based computer teleconferencing, accomplished by installing software on one server and providing access to other individuals on standard PCs with high-speed Internet connections, will help drive the increasingly widespread adoption of telemedicine technologies. As the cost of PCs and video conferencing software decreases, it will make traveling great distances for diagnosis and consultations a thing of the past, somewhat like the traditional doctor’s house call. According to the Association of Telehealth Service Providers (ATSP), virtually all telemedicine transmissions will take place over the Internet within 10 years.

One of the main factors that is expected to drive the market for public health records (PHRs) is the increasing adoption of EHRs among care providers. The use of EHRs makes it easier for people to access records maintained by care providers. Also, consumer acceptance and use of PHRs is an incentive to care providers to use compatible EHRs.

HEALTHCARE INFORMATION TECHNOLOGY (HLC048D) will help its readers:

  •     Identify the segments of the clinical healthcare IT with the greatest growth potential
  •     Analyze key market drivers and constraints
  •     Estimate the size of each market segment through 2017
  •     Provide other information on relevant laws and regulations, standards, potential funding sources, and other information that will be useful to healthcare IT suppliers seeking a share of this market.


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