IT-enabled Healthcare Market to soar at 11.8% CAGR till 2020 thanks to Increasing Government Initiatives

The featured report from Transparency Market Research on the IT-enabled healthcare market delivers key insights about this industry. The report is titled “IT-Enabled Healthcare Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”.According to this report, the global IT-enabled healthcare market is expected to grow at a marked CAGR of 11.8% during the forecast period of 2014 to 2020. In 2013, the global IT-enabled healthcare market was estimated at US$96.87 billion and it is projected to be worth US$210.32 billion by 2020. Factors such as increasing eHealth programs, growing government initiatives, and elevated incidence of chronic conditions are driving the global IT-enabled healthcare market. On the contrary, elements such as issues associated with interoperability of different healthcare IT solutions and data security issues in the IT-enabled healthcare technology are suppressing market growth.

The global IT-enabled healthcare market is broadly segmented into software and services. At present, IT-enabled healthcare software holds the largest chunk of the market in terms of revenue, accounting for 74% of the global IT-enabled healthcare market in 2013.The software segment of the global IT-enabled healthcare market is divided into healthcare system applications and mHealth applications. The sector of healthcare system applications is further divided into administrative information systems (AIS), ancillary information systems (AIS), and clinical information systems (CIS). In 2013, the healthcare system applications segment held a remarkable 97% share in the global IT-enabled healthcare market. By services, the global IT-enabled healthcare market is segmented into tele-health, healthcare system strengthening solutions, and mHealth. The tele-health sector surfaced as the largest market in the global IT-enabled healthcare services industry in 2013 with a massive 77% share.

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According to end user, the global IT-enabled healthcare market is divided into physicians, public/private healthcare institutions, individuals, and healthcare workers. The private/public healthcare institutions segment held a significant 51% share of the global IT-enabled healthcare market in 2013. On the basis of geography, the global IT-enabled healthcare market is classified into North America, Asia Pacific, Europe, and Rest of the World (RoW). Developed markets such as Europe and North America in the global IT-enabled healthcare market are comparatively mature as they adopted eHealth solutions quite early. North America was the dominant regional sector in the global market in 2013. The increasing geriatric population in North America is fueling the home healthcare market, which in turn is driving the IT-enabled healthcare market in this region. Nonetheless, Asia Pacific is projected to show rapid growth in the global IT-enabled healthcare market during the forecast period due to increasing number of government initiatives in this region.

The top players in the market are focusing on the growing opportunities offered by emerging economies such as Latin America and Asia Pacific. The key players operating in the global IT-enabled healthcare market are McKesson, eHealth Technologies, Johnson & Johnson Healthcare Systems, GE Healthcare, Siemens AG, Aerotel Medical Systems, Siemens AG, AT&T, and Allscripts Healthcare Solutions.

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.