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North American Healthcare IT Market Is Forecast to Grow at a CAGR of 7.4% to Reach $31.3 Billion by 2017 from $21.9 Billion in 2012 – New Report by MarketsandMarkets

(PRWEB) June 13, 2013

The "North American Healthcare IT Market, By Application [Provider IT (EMR, PACS, CPOE, CDSS, RCM, Claims Management, Payroll), Payer IT (CRM, Fraud Detection)], Delivery Mode (On-Premises, Web-Based Services & Cloud Computing) & Component –Forecasts to 2017 " analyzes and studies the major market drivers, restraints, and opportunities in U.S. and Canada.

94 - Market Data Tables
8 - Figures
266 - Pages and In-Depth Table to Content on “North American Healthcare IT Market”

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This report studies the North American healthcare information technology market (2012 to2017).

High costs, disorganized and inefficient delivery systems, high medical and medication error rates, poor communication and care coordination, lack of information support for effective decision-making, and counterproductive payment incentives characterize the present state of health care systems. Hence, the need for IT has evolved, as it has the potential to improve workflow, safety, and efficiency within healthcare organizations. The ability to capture, store, exchange, and analyze medical information in electronic form will improve healthcare in many ways. Healthcare IT provides benefits such as improved patient care, increased engagement of patient in healthcare, improved population-based knowledge, development of new tools for medicine, and augmented administrative efficiency.

In this report, the North American Healthcare IT Market is segmented on the basis of its application, delivery mode, and component. The North American HCIT market, by application is segmented into provider (clinical information technology and non-clinical information technology) and payer, while the market by delivery mode is further categorized as on-premises, web-premises, and cloud-premises. The healthcare information technology by component comprises of hardware, software, and services.

The U.S. commanded the largest share of the Healthcare Information Technology Market due to firm government support in terms of investment and incentives, rise in pressure to cut growing healthcare costs, growing demand for integrated healthcare IT systems to achieve high return on investment, growing patient consumerism for quality care and ensure safety, and rise in aging population.

President Obama's administration has spent $32 billion in 2012 for implementation of electronic health records. In addition, the Obama administration has provided incentives to implement EHR. For instance, in 2011, around 176,000 doctors registered for the Medicare and Medicaid EHR incentive programs, and have received a total of $2.5 billion in incentives. However, the Canada HCIT market is slated to grow at the highest CAGR as healthcare organizations in the region are actively moving towards digitization to ensure patient safety. In addition, financial support by Canada Health Infoway and rise in incidences of chronic diseases such as cancer, diabetes, and stroke increase the demand for healthcare imaging systems such as RIS, PACS and CVIS.

The key players in the market are McKesson Corporation (U.S.), Epic (U.S.), Cerner Corporation (U.S.), Carestream Health Inc. (U.S.), Athenahealth Inc. (U.S.), Siemens Healthcare (Germany), Medical Information System Inc. (U.S.), Allscripts Healthcare Solutions Inc. (U.S.), GE Healthcare (U.K.), Agfa Healthcare (Belgium), NextGen Healthcare Information System, LLC (U.S.), Phillips Healthcare (The Netherlands), and Hewlett-Packard (U.S.), among others.

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