Browse 288 tables and 41 figures spread through 398 pages and in-depth TOC on "Healthcare IT Market"
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Market growth can be attributed to the growing need to adhere to regulatory guidelines, government initiatives for eHealth, high return on investment (ROI), and rising needs to curtail escalating healthcare costs. On the other hand, lack of in-house IT domain knowledge and reluctance among end users to adopt new methods are expected to restrain the overall market growth to a certain extent during the forecast period.

The healthcare IT market, by product, is segmented into healthcare provider solutions, healthcare payer solutions, and HCIT outsourcing services. The healthcare provider solutions segment is expected to grow at the highest CAGR of 16.4% during the forecast period.

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This segment is further categorized into clinical solutions and non-clinical solutions. Non-clinical solutions accounted for the largest share of the global healthcare IT market in 2014. However, the clinical solutions segment is poised to grow at the highest CAGR of 19.8% in the forecast period. Growth in this segment can be attributed be the increasing demand for improved patient safety and patient care, stringent regulations regarding healthcare provider solutions, and need for integrated healthcare systems.

The HCIT outsourcing services market is segmented into provider HCIT outsourcing services, payer HCIT outsourcing services, operational HCIT outsourcing services, and IT infrastructure management services. The IT infrastructure management services segment accounted for the largest share of ~48% of the global healthcare IT market in 2014. This segment is projected to reach USD 23,489.0 million by 2020, growing at a CAGR of 7.6% during the forecast period.

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North America accounted for the largest share of the market in 2014, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region represents the fastest-growing market for healthcare IT, primarily due to the increasing healthcare expenditure, rising medical tourism, government initiatives to create eHealth platforms, and growth in the overall healthcare industry. In addition, increasing investments in the healthcare industry by key market players, rising demand for advanced healthcare technologies, and expansion of private sector hospitals to rural areas in countries such as China, Taiwan, and India are driving the growth of this region.

The overall healthcare IT market is fragmented with the presence of several large and small market players. Major players in the global market are McKesson Corporation (U.S.), Epic Systems (U.S.), Cerner Corporation (U.S.), GE Healthcare (U.K.), Philips Healthcare (Netherlands), athenahealth, Inc. (U.S.), Siemens Healthcare (Germany), Allscripts Healthcare Solutions, Inc. (U.S.), Oracle Corporation (U.S.), and Infor, Inc. (U.S.).

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