Focus On Cost Savings Through Streamlining Clinical Workflow Processes Drives the Healthcare IT Market, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Healthcare IT markets. Global market for Healthcare IT is projected to reach US$66 billion by 2020, driven by strong emphasis on improving profitability of healthcare institutions, increasing demand for quality healthcare services, and growing acceptance of M-health and E-health practices.
San Jose, California (PRWEB) March 31, 2014
Follow us on LinkedIn – Information technology has long been touted as a tool with enormous potential to enhance the efficiency of healthcare services, and improve quality and safety of patient care. IT technologies are used for storage, retrieval, and transfer of patient medical information through electronic means, all of which lead to significant improvements in administrative efficiency and offer considerable financial benefits. Healthcare IT also enables comprehensive processing, management, and communication of health information through computerized systems, facilitating secure information exchange between healthcare providers, consumers, insurers, and government organizations. The most important long-term benefit offered by healthcare IT is the platform it provides for the future practice and proliferation of customized/personalized medicine.
Backed by numerous benefits, increasing number of healthcare facilities are adopting healthcare IT solutions and systems. Growing complexity of healthcare operations, government initiatives to promote IT in hospitals, shift towards paperless environment, and proliferation of smart devices are spurring demand for healthcare IT systems. The need to transform legacy systems into advanced information systems by integrating clinical, business, and technical assets to achieve profitability and offer quality healthcare services is encouraging hospitals to invest in healthcare IT. Sharper focus on developing healthcare infrastructure, growing acceptance of m-Health and e-Health, and intensifying competition in the healthcare sector also represent key factors driving growth in the market.
As stated by the new market research report on Healthcare IT, the United States represents the largest market worldwide. Evolving industry standards, new product launches, and compliance with regulatory specifications are factors driving growth in the country. Mandatory use of electronic health record (EHR) and federal incentives for meaningful use of electronic records are encouraging the adoption of EHR software. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 11% over the analysis period led by increased government spending on healthcare services and infrastructure facilities. Growth in medical tourism, rising income levels and higher per capita healthcare spends are also encouraging healthcare providers to procure sophisticated healthcare IT systems for the management of patient data records and to ensure provision of efficient patient care.
Clinical information technology systems such as computerized physician order entry systems (CPOE), electronic health record (EHR), personal health records (PHRs), and picture archive and communication systems (PACS), are recording strong growth, driven by their ability to reduce medical errors. Systems providing decision support and complete automation capabilities such as telemedicine, remote patient monitoring, intelligent networks, clinical data repository, and automatic alert systems are also finding acceptance owing to the continuous rise in number of patients with chronic ailments. Healthcare organizations are laying special emphasis on using data storage management systems to maintain secure patient records for timely access. To ensure better treatment and therapies, mobile computing is being employed to ensure instantaneous sharing of electronic patient records and other medical information.
Major players covered in the report include Agfa HealthCare NV, Allscripts Healthcare Solutions Inc., Athenahealth Inc., CareFusion Corporation, Carestream Health Inc., Cerner Corporation, Computer Sciences Corporation, Computer Programs and Systems Inc., Emdeon Inc., Epic Systems Corporation, GE Healthcare, Healthcare Management Systems Inc., McKesson Corporation, MedAssets Inc., Medidata Solutions Inc., Omnicell Inc., Philips Healthcare, and Siemens Healthcare, among others.
The research report titled “Healthcare IT: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and strategic industry activities. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Segments analyzed in the report include Third Party Payors and Healthcare Providers (Clinical Functions and Non-Clinical Functions).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Healthcare_Information_Technology_IT_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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