Healthcare IT market size expected to exceed USD 230 billion by 2023

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Healthcare IT market size is expected to exceed
USD 230 billion by 2023 growing at a CAGR of over
14 from 2016 to 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Regional Analysis of Healthcare IT market

• North America healthcare IT market was the
  largest regional segment accounting for more than
  45 of the global share in 2014. Presence of
  highly developed medical facilities, significant
  adoption of HCIT technologies along with
  encouraging government initiatives namely
  implementation of electronic health record
  systems and health information exchanges (HIEs)
  is expected to surge the industry demand.
• In addition, incentive programs by Medicare and
  Medicaid along with high patient awareness levels
  paired with reasonably high expenditures is also
  expected to drive the industry demand over the
  forecast period.

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• Application Analysis of Healthcare IT market
• The spur in the healthcare IT market can be
  mainly attributed to increasing adoption of
  numerous healthcare IT solutions by healthcare
  professionals to meet regulatory needs for
  patients safety and care. In addition, mounting
  need to improvise the quality of healthcare along
  with maintaining the operational efficiency of
  the healthcare organizations is estimated to
  positively impact the industry growth over the
  forecast period.
• Proliferating adoption of Computerized Physician
  Order Entry (CPOE), increasing global patient
  base and technological innovations is expected to
  boost the industry demand from 2016 to 2023.
  Moreover, benefits offered such as reduction in
  operational cost, lesser number of errors in
  medical facility along with ascending successful
  outcomes is anticipated to fuel the industry
  growth.
• The healthcare IT industry can be segmented on
  the basis of product and end user. On the basis
  of product the industry can be segmented into
  RIS, EHR, PACS, CPOE, VNA, mHealth, healthcare
  analytics, telehealth, supply chain management,
  CRM, fraud management, claims management and
  revenue cycle management. Based on end user the
  industry can be segregated as provider and payer.

4
Competitive Market Share of Healthcare IT
market

• Key industry participants occupying major
  healthcare IT market share include Philips
  Healthcare, Hewlett-Packard, Agfa Healthcare,
  NextGen Healthcare Information System LLC,
  Allscripts Healthcare Solutions Inc, Siemens
  Healthcare, E-MDS Inc., GE Healthcare,
  Athenahealth Inc., Sap AG, McKesson Corporation,
  Carestream Health, EPIC Systems, Cerner
  Corporation, Oracle Corporation, eClinicalworks
  and Carestream Health Mckesson Corporation.

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