By 2023 Healthcare IT Market Will Be Worth Upwards Of $223 Billion

Healthcare IT solutions promise to modernize and streamline healthcare and to connect different stakeholders in the e-health market. Broadly defined, health IT refers to hardware and software, including electronic information systems, used to create, store, transmit, receive and analyze health information.

These solutions help in improving the efficiency, cost-effectiveness, quality, and safety of medical care delivery in the healthcare systems across globe. “Meticulous Research” in its latest publication states that, the “global market for healthcare IT is expected to grow at a CAGR of 13.7% from 2017 to 2023 to reach $223,115.1 million by 2023.”

Company Profiles
1. Allscripts
2. Cerner Corporation
3. GE Healthcare
4. Koninklijke Kentalis
5. Oracle
6. IBM
7. Infor
8. Mckesson Corporation
9. Cognizant
10. athenahealth
11. Dell Technologies
12. UnitedHealth Group
13. Nuance Communications
14. 3M
15. Conifer Health Solutions
16. Quality Systems, Inc
17. CPSI
18. eClinicalworks

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Emerging economies such as Latin America, Asia Pacific, & Africa provides significant opportunities for various stakeholders in this market. However, interoperability issues and data security & privacy issues are challenging the growth of healthcare IT market to some extent.

Healthcare institutions across globe are focusing to automate their systems and operational workflows, owing to several benefits of HCIT solutions such as reduced cost, efficient and streamlined transfer of health information, paper less environment, better decision making and reduced errors. Healthcare IT technology supports the maintenance and management of health information in electronic formats, enabling doctors and healthcare professionals to have immediate access to their patients’ medical information.

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Healthcare informatics enables high quality and error-free care in efficient and effective ways. Electronic health records provide safer and more reliable prescriptions. They also help in legible and complete documentation of patients’ medical history. Moreover, HCIT solutions enables easier tracking of unforeseen drug interactions with connected healthcare IT systems as well as help to improve decision support. These factors are driving the adoption of HCIT solutions across globe.

As of March 2014, eligible providers participating in Meaningful Use have received USD 22.9 billion in EHR incentive payments since the program’s first payout in 2011. Moreover, over 370,000 providers have earned Meaningful Use incentives. The incentives are helping in faster adoption of healthcare IT solutions among the healthcare providers in the U.S. which is the largest healthcare IT market.

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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AVP- Global Sales and Marketing
Meticulous Research®
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