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Global Healthcare IT Market to Reach $280.25 Billion by 2021 - Driven by High Return on Investment for HCIT Solutions - Research and Markets

[March 14, 2017]

Global Healthcare IT Market to Reach $280.25 Billion by 2021 - Driven by High Return on Investment for HCIT Solutions - Research and Markets

Research and Markets has announced the addition of the "Healthcare IT Market - Global Forecast to 2021" report to their offering.

The global healthcare IT market is expected to grow at a CAGR of 15.9% from 2016 to 2021 and reach USD 280.25 billion.

Growing need to manage regulatory compliance through healthcare IT solutions, government support for healthcare IT solutions, rising need to curtail escalating healthcare costs, high return on investment for HCIT solutions, growing focus on improving quality of care and clinical outcomes, emergence of accountable care organizations, and rising usage of big data analytics are some factors driving growth of the global healthcare IT market.

However, factors such as high cost of deployment, reluctance among medical professionals to adopt advanced healthcare IT tools, and shortage of skilled IT professionals in the healthcare industry are restraining the growth of the market. Increasing consolidation in healthcare and availability of mobile platforms and cloud computing for healthcare IT solutions are expected to provde significant growth opportunities for the global healthcare IT market.

Developed geographies like North America and Europe are likely to grow at a lower CAGR while the Asia-Pacific market is expected to grow at the highest CAGR during the forecast period. Growth in this regional segment is largely driven increasing government initiatives for eHealth, rising medical tourism, and growing demand for quality healthcare. In addition to this, factors such as increasing per capita income in emerging countries such as China and India are also driving the growth of the healthcare IT market.

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