Driven by an increase in healthcare costs, the healthcare information systems market is expected to reach $53.2 billion in revenues by 2019, according to a new report by Transparency Market Research.
The market will grow at a compound annual growth rate of 7.1% from 2013 revenues of $35.1 billion, according to the company. The firm pointed to healthcare cost increases, an expansion in the aging population base, government initiatives, and greater investments by companies in the healthcare IT market as key forces.
Factors that will hold back growth include a dearth of skilled and experienced professionals, the high investment and maintenance costs of healthcare informatics, and interoperability glitches, according to Transparency.
