Health information technology is the fastest growing segment of a $1 trillion global healthcare market, according to a new report from Scientia Advisors, a global management consulting firm with dual headquarters in Cambridge, MA and Palo Alto, CA.
Scientia Advisors predict that the healthcare IT industry will sustain an 11% growth rate through 2013, due to declining marginal benefits from new interventional products and greater emphasis on appropriate use of existing interventions. It believes that clinical decision support systems may have a profound impact on clinical diagnostics and therapeutics.
By 2013, healthcare IT sales may expand from 4% to 5% of the global healthcare products market, according to the consulting firm.
The report predicts that:
- Healthcare IT expenditures in the U.S. will be heavily weighted toward electronic health records (EHR) at the expense of specialty or departmental information systems and other capital investments
- Companies that have the greatest potential to gain market share are industry leaders with large installed bases, proven products, and streamlined adoption and integration strategies for customers to achieve meaningful use of EHRs
- To facilitate healthcare IT implementations, healthcare IT companies will lend hospitals the funds to finance IT investments
- Remote hosting services may be utilized by small hospitals
While the largest growth opportunity for the industry will initially be in the U.S., the report suggests that faster growth, particularly China and India, may offer substantial long-term opportunities.
Related Reading
U.S. grants $1.2 billion for electronic health records, August 20, 2009
GE launches EMR stimulus program, June 15, 2009
Healthcare spending surge seen in next decade, February 27, 2008
Obama stimulus package allocates $20 billion to healthcare IT, February 19, 2009
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