Global Healthcare IT Spending - Market Analysis 2015-2019

Market outlook of healthcare IT spending

IT in healthcare is crucial in developing a secure environment for patient data storage and maintaining a uniform flow of information. The need to efficiently store and use patient information and the financial incentives being offered by governments and other international welfare organizations is expected to drive the growth of this market. Technavio’s research analyst predicts the healthcare IT spending market to grow at a rate of 26% during the forecast period.

The increased use of mobile phones has propelled the delivery of healthcare services for many providers worldwide. For instance, healthcare devices such as SIMpill are programmed to a medication schedule and alerts the patient by sending a text message on the patient's mobile. The convergence of technologies such as cloud computing and big data analytics is also expected to drive the market growth during the forecast period.

Segmentation by category and analysis of the healthcare IT spending market

• Hardware
• Software
• IT Services
• Telecommunications

This research report estimates the IT services segment to reach USD 41 billion by the end of the forecast period. The absence of technical IT expertise in healthcare is fueling the growth of this sector. The IT services segment is further classified as IT consulting, development and integration, hardware maintenance and support, IT management, process management, and software support.

Geographical segmentation of the global healthcare IT spending market

• Americas
• APAC
• EMEA
• ROW

The Americas dominate the healthcare IT spending market and is expected to reach USD 47 billion by the end of 2019. The obligatory regulations for maintaining electronic patient data and the increased investment by the healthcare providers is driving the growth of this market. The increased use of mobile devices in the healthcare industry has allowed physicians to track and analyze data and provide a quick diagnosis to patients.

Competitive landscape and key vendors

The healthcare IT spending market is growing considerably due to the increased demand for IT solutions and the presence of several international and regional providers. Competition in this market is intense as firms are trying to improve their healthcare delivery models through the augmented use of IT.

The leading vendors in the market are -

• BD
• Cerner
• Dell
• GE
• InterSystems
• McKesson
• Philips
• Siemens

Other prominent vendors in the market include 3M, 21st Century Informatics, Adcock Ingram, Agfa, Agility, Allscripts Healthcare, Athenahealth, Bytes Healthcare, Carestream Health, Epic, Gijima, Honeywell, HP, IBM, Intel, Medical Information, Mediware Information, NextGen Healthcare, Information Systems, Novarad, Omnicell, Oracle, Roche, Sekunjalo Healthcare, TIBCO, Trifour Healthcare, and T-Systems.

Key questions answered in the report include

• What will the market size and the growth rate be in 2019?
• What are the key factors driving the global healthcare IT market?
• What are the key market trends impacting the growth of the healthcare IT market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global healthcare IT market?
• Trending factors influencing the market shares of the Americas, APAC, EMEA, and ROW?
• What are the key outcomes of the five forces analysis of the healthcare IT market?

Technavio also offers customization on reports based on specific client requirement.

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