US Healthcare IT Market Forecast to 2014

• Publication date: April 2012

The US Healthcare Information Technology (HIT) market has been growing rapidly for the past few years due to new product introductions and evolving industry standards. With the cloud computing making a buzz, the US HIT market is poised to reach new heights. According to our latest research report, investment by public and private sector may prove to be a driving factor for the new technology adoptions in the US healthcare IT market, which is fore...

The US Healthcare Information Technology (HIT) market has been growing rapidly for the past few years due to new product introductions and evolving industry standards. With the cloud computing making a buzz, the US HIT market is poised to reach new heights. According to our latest research report, investment by public and private sector may prove to be a driving factor for the new technology adoptions in the US healthcare IT market, which is forecast to expand at a CAGR of around 22.5% during 2012-2014. Increasing adoption of electronic health records (EHRs) among medical professionals, growing awareness for quality among patients, private sector players’ active participation, and new government measures towards rural areas will augment the market growth.

Our report, “US Healthcare IT Market Forecast to 2014”, in various regards, provides optimum analysis of the US Healthcare IT industry and its segments. From the study of collected facts and figures, it was apparent that the HIT Hardware sector, among all the HIT segments, accounted for more than 50% of the overall market in 2010, followed by Services and Software. However, as per our estimation, the growth in the HIT Services will increase the segment’s market share as services are required at periodic intervals. Covering almost all the key aspects of the market, the report takes into account the recent developments with respect to cloud applications, patient administration system, personal health records and regulatory mechanisms.

Our comprehensive study also includes analysis of various Healthcare IT Components like e-health, m-health, remote patient monitoring (RPM) and medical imaging information system. The information provided in the section will help clients adopt such strategies which can strengthen their market share. In our report, we have discussed the initiatives being taken by the government associations to support the growth of e-health services. Besides this, we observed that m-health market offers numerous opportunities to the US mobile operators. The RPM market is also expected to grow as the increasing elderly population prefers in-house monitoring.

During our study of market drivers, we found that players are increasingly seeking collaborations, both nationally and internationally, to prosper in the US HIT industry. In addition to this, the USDA is running two key programs-Community Facilities Program, and Distance Learning and Telemedicine Grant Program-which can help expand the healthcare IT infrastructure in rural areas. Among the potential growth areas, Patient Administration System, Personal Health Records and Predictive analytics solutions are the prominent ones. We are hopeful that this extensive research will help clients acquire in-depth knowledge about the US healthcare IT industry, understand the market structure and make sound investment decisions.

E-healthcare Industry in the United States

1. Analyst View
2. Research Methodology
3. Market Drivers
3.1 Industry Consolidation
3.2 Increasing Focus on Rural Healthcare Market
3.3 Increasing Focus on Quality Healthcare
3.4 Geographically Dispersed Population
4. Healthcare IT Market Performance 2014
4.1 Market Overview
4.2 Market Segmentation
4.2.1 IT Hardware
4.2.2 IT Software
4.2.3 IT Services
5. Components of Healthcare IT Market
5.1 E-health
5.1.1 Current Scenario
5.1.1.1 Electronic Medical Record (EMR)/ Electronic Health Record (EHR)
5.1.1.2 E-prescriptions
5.1.1.3 Health Information Exchange
5.1.1.4 Computerized Physician Order Entry (CPOE)
5.1.2 Future outlook
5.2 M-health
5.2.1 Current Scenario
5.2.1.1 Mobile Health Technology
5.2.1.2 Mobile Health Applications
5.2.2 Future outlook
5.3 Remote Patient Monitoring
5.3.1 Current Scenario
5.3.1.1 Telemedicine
5.3.2 Future Outlook
5.4 Medical Imaging Information System (MIIS)
5.4.1 Picture Archiving and Communication Systems (PACS)
5.4.2 Radiology Information Systems (RIS)
5.4.3 Cardiology Information Systems (CIS)
6. Potential Growth Areas
6.1 Patient Administration System (PAS)
6.2 Personal Health Records (PHR)
6.3 Cloud Computing Gaining Prominence
6.4 Predictive Analytics
7. Regulatory Framework
7.1 American Recovery and Reinvestment Act (ARRA)
7.2 Health Information Technology for Economic and Clinical Health Act (HITECH Act)
7.3 The National e-Prescribing Patient Safety Initiative (NEPSI)
8. Competitive Landscape
8.1 McKesson Corporation
8.2 Cerner Corporation
8.3 GE Healthcare
8.4 Siemens Healthcare
8.5 Lumedx Corporation
8.6 Philips Healthcare
8.7 Medical Information Tech Inc.

List of Figures:

Figure 3-1: Geographically Dispersed Population
Figure 4-1: Healthcare IT Market (Billion US$), 2010-2014
Figure 4-2: Hospital Information System Market (Billion US$), 2010-2014
Figure 4-3: Healthcare IT Market by Segment (%), 2010
Figure 4-4: Forecast for Healthcare IT Market by Segment (%), 2014
Figure 4-5: Healthcare IT Hardware Market (Billion US$), 2010-2014
Figure 4-6: Healthcare IT Software Market (Billion US$), 2010-2014
Figure 4-7: Healthcare IT Services Market (Billion US$), 2010-2014
Figure 5-1: E-health Market (Billion US$), 2010 & 2011
Figure 5-2: EMR Market (Billion US$), 2010 & 2011
Figure 5-3: EHR Adoption Rates (%), 2009 & 2010
Figure 5-4: EHR Market by Segment (%), 2010
Figure 5-5: Number of E-prescriptions Written (Million), 2008-2010
Figure 5-6: Number of Doctors using E-prescriptions (‘000), 2008-2010
Figure 5-7: Number of Health Information Exchanges (2010 & 2011)
Figure 5-8: States with Operational HIE Initiatives (2010)
Figure 5-9: Forecast for E-health Market (Billion US$), 2012-2014
Figure 5-10: Forecasts for EMR Market (Billion US$), 2012-2014
Figure 5-11: m-Health Market (Billion US$), 2010 & 2011
Figure 5-12: Number of People Accessed Health Information via Mobile Device (‘000), Nov 2010 - Nov 2011
Figure 5-13: Investment in Mobile Health Applications (Million US$), 2010 & 2011
Figure 5-14: Forecast for m-Health Market (Billion US$), 2012-2014
Figure 5-15: Remote Patient Monitoring Market (Billion US$), 2010 & 2011
Figure 5-16: Forecasts for Remote Patient Monitoring Market (Billion US$), 2012-2014
Figure 5-17: Medical Imaging Information Systems Market (Billion US$), 2010-2014
Figure 5-18: Picture Archiving and Communication System Market (Billion US$), 2010- 2014
Figure 5-19: Radiology Information System Market (Million US$), 2010-2014
Figure 5-20: Cardiology Information Systems Market (Million US$), 2010-2014
Figure 6-1: PHR Software Market (Million US$), 2010- 2014
Figure 6-2: Cloud Computing Market in Medical Imaging Revenue (Million US$), 2010-2014

List of Tables:

Table 3-1: Key Acquisitions in Healthcare IT Industry
Table 5-1: EMR Adoption Model (%) 2010 & 2011
Table 5-2: Top 10 States with Highest Rates of E-prescribing (2010)
Table 5-3: Percentage of Physician providing E-Prescription by Specialty
Table 5-4: m-Health Technology Applications, Examples and Outcomes
Table 5-5: States Mandating Private Payer for Reimbursement of Telemedicine Services
Table 7-1: Implementation Schedule of Meaningful Use Rule
Table 8-1: McKesson Corporation - SWOT Analysis
Table 8-2: Cerner Corporation - SWOT Analysis
Table 8-3: GE Healthcare- SWOT Analysis
Table 8-4: Siemens Healthcare - SWOT Analysis
Table 8-5: Philips Healthcare, - SWOT Analysis
Table 8-6: Medical Information Tech Inc. - SWOT Analysis