Report Highlights
- The U.S. market for healthcare IT is expected to be worth $4.0 billion in 2009. This should increase to $9.0 billion in 2014, a compound annual growth rate (CAGR) of 17.5%.
- The software applications segment dominates the market, generating an estimated $3.4 billion in 2009. This should increase to $7.2 billion in 2014, for a CAGR of 16.4%.
- Dedicated hardware is the second largest segment, worth an estimated $636.8 million in 2009. This should increase to $1.8 billion in 2014, for a CAGR of 22.9%.
INTRODUCTION
STUDY BACKGROUND
Since BCC prepared its last report on health care information systems in 2006, the market environment has shifted dramatically. After years of incremental steps toward a national health care IT infrastructure, the American Recovery and Reinvestment Act, the economic stimulus bill approved by Congress and signed into law in 2009-02-15, provides more than $19 billion for health care IT spending, including more than $17 billion to promote the wider adoption of electronic health records (EHR).
The Obama administration has made it clear that this $17 billion is only a down payment on the total cost of a national EHR system, which is generally estimated at $100 billion or more. The administration’s health care reform plan relies heavily on potential savings and efficiencies that would be generated by modernization of the nation’s health care IT infrastructure. As the President said in his March 24, 2009 press conference:
- Identifying the segments of the clinical health care IT with the greatest growth potential
- Analyzing key market drivers and constraints
- Estimating the size of each market segment through 2014
- Providing other information on relevant laws and regulations, standards, potential funding sources, and other information that will be useful to health care IT suppliers seeking a share of this market
- Executive summary
- Definitions
- Clinical health care IT applications
- Benefits and barriers to implementation
- Market environment (e.g., legal and regulatory standards, economic conditions, consumer attitudes)
- Current (i.e., 2007 to 2008) and projected markets for health care IT technologies and products through 2014
- Industry structure
- Examine BCC’s complete catalog of Market Research Reports and place direct orders
- Subscribe to any of BCC’s many industry newsletters
- Read announcements of recently published reports and newly launched newsletters
- Register for BCC’s well-known conferences
- Request additional information on any BCC product
- Take advantage of special offers
Report Highlights
-
BCC estimates the U.S. healthcare IT market size at $16.38 billion in 2005 and forecasts that it will grow to $18.5 billion in 2006. By 2011 it is expected to reach $34.7 billion in sales, a 13.4% AAGR.
-
The hospital segment accounts for the larger portion of the market with 52.2% of sales in 2005, 51.4% in 2006 and 48.2% in 2011. The Physician/ home care/ nursing/ hospices sector will overtake hospitals by the end of the forecast period and will be worth 51.3% of the U.S. market by 2011.
-
The highest growth appears in physicians, home care, nursing homes, and hospices. The market for this sector of the industry was worth more than $7.7 billion in 2005. By the end of 2006 it will grow to almost $8.9 billion and, at an AAGR of 15.0%, reach more than $17.8 billion by 2011.
Related Reports
Recent Reports
Medical Magnetic Resonance Imaging (MRI): Technologies and Global Markets
The global market for medical magnetic resonance imaging (MRI) is expected to grow from $7.2 billion in 2023 and projected to reach $9.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 6.4% during the forecast period of 2023 to 2028.
Global Markets for Emerging Insulin Drug and Delivery Technologies: Focus on Syringes and Vials
The global market for emerging insulin drug delivery devices is expected to grow from $55.8 billion in 2023 and projected to reach $88.9 billion by the end of 2028, at a compound annual growth rate (CAGR) of 9.8% from 2023 through 2028.
Global Cleanroom Technology Market
The global market for cleanroom products is expected to grow from $7.5 billion in 2023 to $10.9 billion by the end of 2028, at a compound annual growth rate (CAGR) of 7.6% from 2023 through 2028.
Ophthalmic Devices, Diagnostics and Surgical Equipment: Global Markets
The global market for ophthalmic devices, diagnostics and surgical equipment is expected to grow from $32.5 billion in 2023 and forecast to reach $44.0 billion by the end of 2028, at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2028.
Microelectromechanical Systems (MEMS) in Global Medical Markets
The global market for microelectromechanical systems (MEMS) devices in medical applications is estimated to increase from $4.8 billion in 2023 to reach $7.2 billion by 2028, at a compound annual growth rate (CAGR) of 8.5% from 2023 through 2028.
Top Trending Reports
Cell and Gene Therapy Tools, and Reagents: Global Markets
The global market for cell and gene therapy tools and reagents is estimated to grow from $8.3 billion in 2022 to $13.7 billion in 2027, with a compound annual growth rate (CAGR) of 10.6% for the period of 2022-2027.
ESG Trends in Chemical Industry
This report focuses on the ESG trends in the chemical industry and evaluates the ESG implementation including current and future potential. The report utilizes various databases, including sustainability reports, annual reports, and other indicators used to develop the current market. The study provides detailed information on the main factors influencing ESG growth in the chemical industry. It enables the reader to understand the industry in general while also providing insight into the inter-relationship between ESG and the sustainable chemical industry. The report describes market growth, developing trends, industry leaders, and applications of ESG implementation in the chemical industry.
Digital Pathology: Technologies and Global Markets
The global digital pathology market is estimated to increase from $5.9 billion in 2022 to reach $10.7 billion by 2027, at a compound annual growth rate (CAGR) of 12.5% from 2022 through 2027.
Smartphone-Based Patient Monitoring: Global Market
The global smartphone-based patient monitoring market should reach $21.5 billion by 2027 from $6.8 billion in 2022 at a compound annual growth rate (CAGR) of 25.9% for the forecast period of 2022 to 2027.
Seawater and Brackish Water Desalination
The global market for seawater and brackish water desalination is estimated to increase from $14.7 billion in 2022 to $21.7 billion by 2027, at a compound annual growth rate (CAGR) of 8.1% from 2022 through 2027.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More