Published By : 22 Jul 2016 | Published By : QYRESEARCH
IT-enabled healthcare provides a feasible way to overcome the shortcomings of the healthcare system that exists today. The key benefits of IT-enabled healthcare systems are many, such as reduced cost, ability to reach out to a wider patient base, and efficiency. Players in the IT-enabled healthcare market are offering various solutions to healthcare organizations that are exceptionally efficient. It overcomes issues such as a poor doctor-to-patient ratio by enabling the services to be available to the remotest of locations.
According to Transparency Market Research (TMR), the global IT-enabled healthcare market is expected to expand at a 11.8% CAGR from 2014 to 2020. The global IT-enabled healthcare market was estimated at US$96.87 bn in 2013 and it is anticipated to be worth US$210.32 bn by 2020.
IT-enabled Healthcare Software Solutions to Lead in Market
The global IT-enabled healthcare market comprises of software and services as their segments. At present, IT-enabled healthcare software is leading in the market. By services, the telehealth segment led in 2013. The private/public healthcare institutions accounted for a significant share of the IT-enabled healthcare market in 2013. North America led the market in 2013 owing to increasing geriatric population. Asia Pacific is also expected to show remarkable growth in the global IT-enabled healthcare market.
Rising Incidences of Chronic Diseases Leads to Higher Adoption of IT-enabled Healthcare Services
The global IT-enabled healthcare market is also driven by the rising incidences of chronic diseases. Since chronic diseases require long-term medication and continuous monitoring, IT-enabled healthcare solutions proves beneficial. The deaths owing to chronic diseases such as cancer, CVDs, and diabetes have increased significantly in the recent past. Moreover, according to the World Health Organization (WHO), the aforementioned chronic diseases and various respiratory diseases were the primary cause of death in 2012. This is expected to fuel the demand for IT-enabled healthcare solutions.