Strategies of key market players (within the HCIT market), are profiled in this report, which predicts the competitive outlook of global Healthcare IT testing devices market.
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Major factor contributing to the growth of the healthcare IT market is increase in healthcare organizations, which have posed several challenges such as management of patient data, need to curtail operational costs, and demand for enhanced healthcare services‐. ‐However, limited knowledge regarding HCIT among individuals and high deployment cost incurred for establishment of infrastructure are expected to hamper the market growth during the forecast period.
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Global Healthcare IT (HCIT) Market projects that the market for HCIT solutions & services was $125 billion in 2015 and is projected to reach $297 billion by 2022, registering a CAGR of 13.2% from 2016 - 2022, according to a new report published by Allied Market Research.Healthcare provider solutions dominated the market in 2015 and projected to capture over two-thirds share by 2022. North America led the global Healthcare IT market in 2015, and is expected to maintain its position throughout the study period.
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INCREASE IN INVESTMENTS IN ASIA-PACIFIC REGION OFFERS HUGE MARKET POTENTIAL
Asia-Pacific has a huge market potential for Healthcare IT industry. India and China are some of the rapidly growing countries, followed by South Korea.
Consequently, the government in these rapidly developing economies have taken various efforts to improve healthcare services, and provide better infrastructure. In such cases, Healthcare IT acts as a bridge between all the healthcare entities, minimizes manual errors, and curbs expenses.
Even though the Indian healthcare industry is expected to grow at an estimated CAGR of 24% during the forecast period. Although the Healthcare Information Technology industry in India is still at its nascent stage, the demand for Healthcare IT solutions is expected to increase during the forecast period due to increasing incidence of chronic disorders, improving healthcare infrastructure, and growing demand for better healthcare services
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The Chinese government adopted healthcare IT informatization approach in the 1990s to promote IT development across all major sectors, including the healthcare sector. In 1995, the Chinese Government launched its first Healthcare Information Technology policy, "Golden Health Project," which sought to create the foundation for electronically linking health administration departments, healthcare organizations, and research institutes.
The Ministry of Health in China has laid guidelines for HIT development in the region for the introduction and implementation of regional health information networks throughout the country. Thus, increasing demand for better healthcare, improving healthcare infrastructure, and government initiatives & investments are expected to drive the market in the Asia-Pacific region.
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