Healthcare Information Technology

May 12, 2011

Wellesley, Mass. – According to a new technical market research report, HEALTHCARE INFORMATION TECHNOLOGY (HLC048C) from BCC Research (www.bccresearch.com), the value of the healthcare information technology industry was more than $7.4 billion in 2011, but is expected to increase to nearly $17.5 billion in 2016, for a 5-year compound annual growth rate (CAGR) of 18.7%.

The largest segment of the market, made up of software applications, is projected to increase at a CAGR of 17% to $11.5 billion in 2016, after being valued at $5.2 billion in 2011.

The second-largest segment, dedicated hardware, is estimated at nearly $2.2 billion in 2011, but is expected to increase at a CAGR of 22.4% to reach nearly $6 billion in 2016.

The other segment, online services, is expected to reach $22 million in 2016, after rising at a CAGR of 12.9% from its estimated value of $12 million in 2011.

The market environment for healthcare information systems has shifted dramatically in recent years. After years of incremental steps toward a national healthcare information technology (IT) infrastructure, the American Recovery and Reinvestment Act (ARRA), the economic stimulus bill approved by Congress and signed into law in February 2009, provides more than $19 billion for healthcare 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 is only a down payment on the total cost of a national EHR system, which is generally estimated at $100 billion or more.

The goal of this report is to provide an understanding of the U.S. market for selected clinical healthcare IT technologies in the context of the ongoing dramatic changes in the structure of the U.S. healthcare sector.  Specific objectives include identifying the segments of the clinical healthcare IT with the greatest growth potential, analyzing key market drivers and constraints, estimating the size of each market segment through 2016, and providing other information on relevant laws and regulations, standards, potential funding sources, and other information that will be useful to healthcare IT suppliers seeking a share of this market.

The report is intended especially for healthcare IT suppliers, as well as government agencies, healthcare policy analysts, and others seeking to understand the cost and preconditions for the success of healthcare IT modernization initiatives.

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Healthcare Information Technology( HLC048C )
Publish Date: Mar 2011    

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