Market World Healthcare IT Market Competitive Insight | Page 2

The introduction of advanced technologies in software such as ambulatory care management systems,
electronic health records, hospital information systems, electronic medical records, e-prescribing systems and
patient management systems, is anticipated to drive the market growth during the forecast period. Additionally,
increasing demand for e-healthcare system, medical record systems, and computerized physician order entry is
projected drive market growth during the forecast period. Rising adoption of software systems such as clinical
trial management system, clinical decision support system, and data mining is estimated to further boost the
demand.
Application Insights
Telehealth and tele- market attributed for more than 30.0% of the global healthcare IT market, in 2016. The
factors contributing to this large share are high rates of usage and related benefits such as ease of information
transfer via telecommunication technologies. The factors such as a need for home healthcare centers and the
shift in preferences to prevent hospital stay are fueling the telecommunication segment growth.
Electronic health records (EHR) accounts for second largest market after telecommunication in terms of revenue
share. As per Healthcare Information and Management Systems Society, electronic health records are
longitudinal records associated with health information of a patient. Medical institutes update these records.
The use of EHR is anticipated to have lucrative growth due to factors such as interoperability and user-
friendliness. Moreover, these systems offer information which aids in decision-making related to the health of
a patient in emergency situations.
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Regional Insights
North America dominated global healthcare IT market accounting for more than 40.0% of total market revenue.
The prominent market driver is the existence of advanced medical facilities, supportive government initiatives
such as the launch of incentive programs for EHR by Medicare and Medicaid, increased patient awareness along
with increased expenditures in this region. Increasing number of private healthcare service providers, for
instance, Sana & Helios and existence of well-established healthcare infrastructure are growth drivers of this
market in Europe.
Asia Pacific healthcare IT market is projected to grow at a remunerative CAGR during 2013 to 2020 owing to the
increased frequencies of chronic diseases in the pediatric and geriatric population, increasing awareness about
the convenience and cost effectiveness of these technologies and increasing healthcare expenditure.