The global healthcare IT market was valued at $11.3 billion in 2009 and is forecast to grow by 12.4% annually for the next seven years to reach $25.6 billion by 2016. The growth will primarily be driven by governments’ financial incentives and regulations requiring automation in healthcare practices. Market growth is also expected to be driven by the increasing need for hospitals to attain cost efficiency and the growing evidence of use of IT in healthcare practices.
Hospital and physician adoption and the integration of various healthcare IT systems within healthcare organizations will be the key factor influencing and driving the market penetration of healthcare IT products. While the cost of technology and lengthy installation and implementation times remain the key challenges, stimulus programs aimed at increasing healthcare IT adoption by healthcare practices and the increasing number of patients requiring healthcare services globally should ensure that the global healthcare IT market continues to grow at a double digit rate.
This analysis was taken from a research paper published by GlobalData, to download the full Research Paper for free, click below:
http://www.researchviews.com/healthcare/medical/healthcareit/Viewpoints.aspx?sector=Healthcare%20IT&DocID=9929
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