HEALTHCARE IT MARKET WILL GROW TO $103.0 BILLION BY 2020: GRAND VIEW RESEARCH, INC.

Healthcare IT Market Will Grow to $103.0 Billion by 2020: Grand View Research, Inc.

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The global market for healthcare IT is expected to reach USD 103.0 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for point of care diagnostics, home healthcare and the growing global base of geriatric population are two of the most significant drivers of this market operating at a macro-environmental level. Moreover, improvement in the market penetration rates of internet witnessed over the last decade (2000 to 2010) has created a strong platform for an expedited implementation of healthcare IT across the globe. Some of the other drivers of this market include increasing prevalence of chronic diseases such as asthma, diabetes and cardiovascular diseases and the presence of high unmet medical needs in Asia Pacific and Latin American countries coupled with constantly improving healthcare and information technology infrastructures. The implementation of healthcare reforms such as the 12th Five Year Plan in China and the consequent introduction of private healthcare establishments in this country will also fuel the future growth of this market.

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