The Future of the Healthcare IT Market to 2015
Published: 2009-12-04 07:02:27
Author: Global Markets Direct | December 1, 2009
Dec 01, 2009 – Global Markets Direct estimates that the global market for Healthcare IT market was valued at around $11 billion in 2008. The market is forecast to exceed $24 billion by 2015 with a CAGR of 11%. The market is expected to be driven by governments’ financial incentives and regulations requiring automation in healthcare practices. The market growth is also expected to be driven by increasing need for hospitals to attain cost efficiencies and growing evidence of use of IT in healthcare practices. The US is the key economy driving growth within the global Healthcare IT market. It contributed 37% towards the global Healthcare IT market in 2008. The contribution is expected to increase to 48% by 2015. The US Healthcare IT market is forecast to grow in double digit rates for the next seven years to exceed $10 billion by 2015.
The US market got a boost from the American Recovery and Reinvestment Act (ARRA) of 2009 which entails an investment of about $20 billion in Healthcare IT. Medicare and Medicaid are expected to reimburse part of the $20 billion to assist physicians and hospitals in acquiring electronic medical records. Hospitals and physicians to be eligible for incentive payments under the ARRA Act of 2009 must meet the requirements of meaningful users. Hospitals and physicians must demonstrate meaningful use by 2011 in order to receive maximum incentive payments.
China Healthcare IT market is forecast to grow by 12% annually for the next seven years. In January 2009, China announced about $1.5 billion to $2.6 billion incremental investment for 2009-2011 in the Healthcare IT sector. Currently, hospitals make up about 73% of the total Healthcare IT spending in China. In the future, the spending will be concentrated in establishing regional healthcare information networks.
France Healthcare IT market is forecast to grow by 8% annually for the next seven years to exceed $1 billion by 2015. In October 2009, France announced a $2.2 billion stimulus package to revive its Healthcare IT program. A new agency called Agency for Shared Information Systems in Healthcare (ASIP Sante) will coordinate with all the parties involved in Healthcare IT in France. The agencies focus is to re-launch the Dossier Medical Personnel (DMP), a shared EMR.
EMR is the key segment driving growth within the global Healthcare IT market. It contributed 31% towards the global Healthcare IT market in 2008. The contribution is expected to increase to 37% by 2015. The global EMR market is forecast to grow at a CAGR of 14% from 2008 to 2015 to exceed $9 billion by 2015. EMR market is expected to be driven by government financial incentives to physicians and hospitals to adopt EMR, government regulations and cost saving benefits EMR offers. EMR improves cash flow by speeding up reimbursement claims and reducing the clerical errors. It also increases clinical revenues as some health insurers’ pay for documented tests and procedures only.
Global Markets Direct’s new report, “The Future of the Healthcare IT Market to 2015 – Healthcare Reform in the US to Boost Growth”, provides key data, information and analysis on the global Healthcare IT market. The report provides market landscape, competitive landscape and market trends information on two market categories including hospital information systems and storage and communication systems.
In the hospital information systems category, detailed market data and analysis is provided for electronic medical records, practice management, computerized physician order entry, pharmacy information systems and laboratory information systems segments. In the storage and communication systems category, detailed market data and analysis is provided for picture archiving and communication systems and radiology information systems segments.
This report provides comprehensive information on the key trends affecting these categories and segments, key analytical content and market dynamics. The report also reviews the competitive landscape in terms of technology offerings.
For more information on this report please click or copy the below link to your browser:
http://www.globalmarketsdirect.com/
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Visit our report store: http://www.globalmarketsdirect.com
Published: 2009-12-04 07:02:27
Author: Global Markets Direct | December 1, 2009
Dec 01, 2009 – Global Markets Direct estimates that the global market for Healthcare IT market was valued at around $11 billion in 2008. The market is forecast to exceed $24 billion by 2015 with a CAGR of 11%. The market is expected to be driven by governments’ financial incentives and regulations requiring automation in healthcare practices. The market growth is also expected to be driven by increasing need for hospitals to attain cost efficiencies and growing evidence of use of IT in healthcare practices. The US is the key economy driving growth within the global Healthcare IT market. It contributed 37% towards the global Healthcare IT market in 2008. The contribution is expected to increase to 48% by 2015. The US Healthcare IT market is forecast to grow in double digit rates for the next seven years to exceed $10 billion by 2015.
The US market got a boost from the American Recovery and Reinvestment Act (ARRA) of 2009 which entails an investment of about $20 billion in Healthcare IT. Medicare and Medicaid are expected to reimburse part of the $20 billion to assist physicians and hospitals in acquiring electronic medical records. Hospitals and physicians to be eligible for incentive payments under the ARRA Act of 2009 must meet the requirements of meaningful users. Hospitals and physicians must demonstrate meaningful use by 2011 in order to receive maximum incentive payments.
China Healthcare IT market is forecast to grow by 12% annually for the next seven years. In January 2009, China announced about $1.5 billion to $2.6 billion incremental investment for 2009-2011 in the Healthcare IT sector. Currently, hospitals make up about 73% of the total Healthcare IT spending in China. In the future, the spending will be concentrated in establishing regional healthcare information networks.
France Healthcare IT market is forecast to grow by 8% annually for the next seven years to exceed $1 billion by 2015. In October 2009, France announced a $2.2 billion stimulus package to revive its Healthcare IT program. A new agency called Agency for Shared Information Systems in Healthcare (ASIP Sante) will coordinate with all the parties involved in Healthcare IT in France. The agencies focus is to re-launch the Dossier Medical Personnel (DMP), a shared EMR.
EMR is the key segment driving growth within the global Healthcare IT market. It contributed 31% towards the global Healthcare IT market in 2008. The contribution is expected to increase to 37% by 2015. The global EMR market is forecast to grow at a CAGR of 14% from 2008 to 2015 to exceed $9 billion by 2015. EMR market is expected to be driven by government financial incentives to physicians and hospitals to adopt EMR, government regulations and cost saving benefits EMR offers. EMR improves cash flow by speeding up reimbursement claims and reducing the clerical errors. It also increases clinical revenues as some health insurers’ pay for documented tests and procedures only.
Global Markets Direct’s new report, “The Future of the Healthcare IT Market to 2015 – Healthcare Reform in the US to Boost Growth”, provides key data, information and analysis on the global Healthcare IT market. The report provides market landscape, competitive landscape and market trends information on two market categories including hospital information systems and storage and communication systems.
In the hospital information systems category, detailed market data and analysis is provided for electronic medical records, practice management, computerized physician order entry, pharmacy information systems and laboratory information systems segments. In the storage and communication systems category, detailed market data and analysis is provided for picture archiving and communication systems and radiology information systems segments.
This report provides comprehensive information on the key trends affecting these categories and segments, key analytical content and market dynamics. The report also reviews the competitive landscape in terms of technology offerings.
For more information on this report please click or copy the below link to your browser:
http://www.globalmarketsdirect.com/
Or
Visit our report store: http://www.globalmarketsdirect.com
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