Global Healthcare IT Market to Grow at 7.0% CAGR 2016-2020 with Rising Adoption of Healthcare Information Software

Published Date : Aug 01, 2016

ALBANY, NY, Aug 01, 2016: has added a new market report on the global healthcare IT market to its database. The research report gives a brief summary of the global healthcare IT market, highlighting its drivers, restraints, changing trends, and key contributors. As per the research, the global healthcare IT market is expected to exhibit a 7.0% CAGR from 2016 to 2020. Changing government rules and regulations in the healthcare industry are credited to be the primary factor benefiting the market. 

The report, titled ‘Global Healthcare IT Market 2016-2020,’ states that the market is set for a steady expansion throughout the forecast period. Even though the global healthcare IT market is expected to register restricted growth due to the lack of business transparency in the healthcare industry, it will benefit from the rising adoption of healthcare information software. Technological advancements have helped healthcare organizations develop new software and mobile applications that help manage patient information effectively. Thus, the global healthcare IT market is predicted to benefit from the rising adoption of healthcare information software by leading players from across the globe. 

Allscripts Healthcare Solutions, GE Healthcare, McKesson, Oracle, Siemens Healthcare, JDA Software, L & T Infotech, Manhattan Associates, Mayo Clinic, Microsoft, Owens & Minor, Philips Healthcare, ROI, and SAP are some of the key companies operating in the global healthcare IT market. Leading companies are now concentrating on introducing new healthcare IT software to adopt innovative technologies. As per the findings of the research report, many key healthcare organizations are planning to customize their solutions to match the needs of the patients. 

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The increasing need to improve the quality of healthcare services has led to the rising adoption of healthcare software and automated solutions. The advent of cloud computing has altered many industries and the healthcare sector is not an exception. Cloud-based healthcare IT solutions enable organizations to implement various business applications while staying focused on their basic business operations. The increasing use of analytical tools by hospitals and laboratories will further benefit the global market for healthcare IT. The rising adoption of outsourced cloud computing healthcare IT solutions has also significantly helped key companies in reducing in-house costs.

The year ahead is expected to be very crucial for the global healthcare IT market from the point of view of practitioners, patients, medical researchers, and IT personnel. Patients can anticipate advancements in the healthcare IT services and wearable medical devices, while healthcare professionals and practitioners can expect technologies that would assist them in finding cures for diseases. The year ahead will bring informed treatments for patients, faster innovations, new ways of gathering healthcare data, and enhanced medical devices, leading to the growth of the healthcare IT market. 

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