The Healthcare IT market is growing rapidly, evolving pervasively mainly due to the extensive
uptake of these solutions by the increasing number of healthcare centers, worldwide. Moreover,
factors such as the huge technological advancements that allow rapid deployment of services of
these low-cost solutions escalate the market on the global platform.
Acknowledging the pace at which the market is climbing up pervasively, Market Research Future
(MRFR) in its recently published study report asserts that the global healthcare IT market will garner
exponential accruals by 2023, registering a striking 15% CAGR throughout the forecasting period
(2017 – 2023).
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The growth of the market is predominantly driven by the collective demand for improved healthcare
facilities, prompting the demand for data systems management. Additional factors propelling the
market growth include the various advantages of HCIT such as the high return on investment and
reduction of the enormous amount of expenditures.
Moreover, factors such as the increasing need to curtail healthcare costs and government support
for HCIT solutions, are expected to foster the market over the forecast period. Also, the ever-
increasing population and urbanization provide a significant impetus to the market growth,
augmenting the demand for automated procedures while prompting the need for quality healthcare
more than ever.
Improving economic conditions, worldwide, certainly play a vital role in the growth of the market,
enabling access to the quality of life & improved healthcare.
On the flip side, factors such as the high cost of development & maintenance, the reluctance among
medical professionals to adopt advanced healthcare IT tools, and other technological complexities
are impeding the market growth to an extent.
Nevertheless, substantial investments made into R&D activities and the increased government
funding transpired for advancing the technology are expected to support the market growth over
the assessment period, paying off well while creating a larger revenue pocket.
Key Players:
Key players leading the global healthcare IT market include Cerner Corporation (US), Allscripts
Healthcare Solutions, Inc. (the US), Epic Systems Corporation (US), Oracle Corporation (US), Infor,
Inc. (the US), McKesson Corporation, (US), Athenahealth, Inc. (the US), Dell Technologies (US),
Cognizant Technology Solutions Corporation (US), IBM (US), Koninklijke Philips N.V. (the
Netherlands), and Conifer Health Solutions (US) among several others.
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