IT-enabled Healthcare Market : Structure and Overview of Key Market Forces Propelling Market

IT-enabled healthcare services offer feasible modes of overcoming deficits in the current healthcare delivery system across the globe. With the rising focus of several governments worldwide for the development of the desired healthcare infrastructure of the country, the private and public healthcare infrastructure of these countries is also growing significantly.

Numerous countries such as Singapore, Algeria, Chile, Argentina, Brazil, China, and India among several others are incessantly focusing on increasing the budget of public sector healthcare programs by means of several government and private sponsored models. This effort has been made to reach out to the mass public.

The global IT-enabled healthcare market is projected to witness an 11.80% CAGR between 2014 and 2020. Based on value, the market stood at US$96.8 bn in 2013 and is likely to touch US$210.3 bn by the end of 2020.

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The global IT-enabled healthcare market is classified into individuals, healthcare workers, physicians, and private/public healthcare institutions. The public/private healthcare institution accounted for the leading share in 2013. However, the individuals segments is likely to exhibit strong growth over the next couple of years.

The growth of these two segments can be attributed to the growing awareness regarding a healthy lifestyle among consumers across the globe. In terms of type, software dominated the global IT-enabled healthcare market in 2013.

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The global market for IT-enabled healthcare has been segmented on the basis of region into Asia Pacific, North America, Europe, and the Rest of the World. North America emerged as the leading regional market in 2013 owing to the existence of modern infrastructure, intelligent workforce, and the early adoption of several technological advancements. The growth of the market in this region is also expected to be favored by the incessantly rising geriatric population in the region.

Owing to the early acceptance and deployment of IT-enabled healthcare services in order to improve service and process, the market in Europe has reached a mature stage. However, Asia Pacific is expected to witness significant growth in the next couple of years. The Asia Pacific market for IT-enabled healthcare is expected to be aided by significant funds from the governments of the various countries of the region.

Some of the leading companies in the global IT-enabled healthcare market are AT&T, Aerotel Medical Systems, GE Healthcare, eHealth Technologies, Allscripts Healthcare Solutions, Siemens AG, Siemens AG, Johnson & Johnson Healthcare Systems, and McKeson.

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