Healthcare IT Market Worth $56.7 Billion by 2017

Healthcare IT Market Worth $56.7 Billion by 2017

DALLAS, May 10, 2013 /PRNewswire/ --

    The "Healthcare IT Market By Application [Provider IT (EMR, PACS, CPOE, RIS, CDSS,
RCM, Claims Management, Payroll), Payer IT (CRM, Fraud Detection)], Delivery Mode
(On-Premises, Web-Based Services & Cloud Computing) & Component -Global Forecasts to 2017"
analyzes and studies the major market drivers, restraints, and opportunities in North
America, Europe, APAC, and Rest of the World.

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        - 117 Market Data Tables
        - 8 Figures
        - 311 Pages and an in-depth Table of Content on "Healthcare IT Market"

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    This report studies the global healthcare information technology market (2012 to
2017).

    Healthcare IT has the potential to generate valuable information to improve workflow,
safety, and efficiency within healthcare organizations. The ability to capture, store,
exchange, and analyze medical information in electronic form will improve healthcare in
many ways. Healthcare IT provides benefits such as improved patient care, increased
engagement of patient in healthcare, improved population-based knowledge, development of
new tools for medicine, and augmented administrative efficiency.

    In this report, the HCIT market is segmented on the basis of its:

       
        - Application
        - Delivery Mode, and
        - Component

    The HCIT market, by application is segmented into provider (clinical information
technology and non-clinical information technology) and payer, while the market by
delivery mode is further categorized as on-premises, web-premises, and cloud-premises. The
healthcare information technology by component comprises of hardware, software, and
services.

    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 for integrated healthcare IT systems to achieve high return on
investment, growing patient consumerism for quality care and ensure safety, and rise in
aging population. President Obama's administration has spent $32 billion in 2012 on
electronic health records. In addition, the Obama administration has provided incentives
to implement EHR. For instance, in 2011, around 176,000 doctors registered for the
Medicare and Medicaid EHR incentive programs, receiving a total of $2.5 billion in
incentives. 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.

    In addition, growing healthcare cost in developed countries has strengthened the
growth of the Healthcare IT Market
[http://www.marketsandmarkets.com/Market-Reports/healthcare-it-252.html ] in developing
countries such as India, Singapore and Thailand. Consequently, this results in migration
of patients to suitable medical tourism destinations, where medical cost is lower as
compared to their native regions. For instance, a hip replacement that costs $43,000 in
the U.S. could cost $12,000 in Singapore and just $9,000 in India, which encourages
patients to choose India as a medical destination. This increases the demand for HCIT
solutions to streamline workflow and manage patient information.

    The Key Players in the Market are:

       
        - McKesson Corporation (U.S.)
        - Epic (U.S.)
        - Cerner Corporation (U.S.)
        - Carestream Health Inc. (U.S.)
        - Athenahealth Inc. (U.S.)
        - Siemens Healthcare (Germany)
        - Medical Information System Inc. (U.S.)
        - Allscripts Healthcare Solutions Inc. (U.S.)
        - GE Healthcare (U.K.)
        - Agfa Healthcare (Belgium)
        - NextGen Healthcare Information System
        - LLC (U.S.)
        - Phillips Healthcare (The Netherlands), and
        - Hewlett-Packard (U.S.), among others

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