Global healthcare IT market: 5% CAGR growth expected between 2012-2016

Press release   •   Aug 08, 2013 13:44 BST

The Global Healthcare IT market is to grow at a CAGR of 5.3 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need to store patient information and use it to provide appropriate/better healthcare services. The Global Healthcare IT market has also been witnessing the increased application of mobile technology. However, the high capital needed to adopt IT systems/technology could pose a challenge to the growth of this market.

One of the main trends witnessed in the Global Healthcare IT market is the consolidation of organizations. Healthcare organizations have limited access to capital. This gives rise to consolidations. In 2012, some small healthcare organizations affiliated themselves with larger ones, or in some cases, partnered with them in order to form new systems. These systems cater to the needs of self-employed physicians as well as employed doctors. Partnering with various organizations or groups has been extremely essential for healthcare providers, as this helps providers to offer end-to-end healthcare management solutions to patients. Many organizations have been noticed to acquire sizable non-profit organizations, to shift toward a consolidated system that is capable of meeting the needs of all entities associated with it.

One of the main factors driving the market is the increased financial benefits for healthcare providers. With a decrease in the medical record management cost and a reduced number of examinations owing to better diagnostics, the revenue for healthcare providers will increase.

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