November 22, 2011 10:08 ET

Market Research Projects US Healthcare IT Spending Growth at 22% CAGR Through 2014

ROCKVILLE, MD--(Marketwire - Nov 22, 2011) - has announced the addition of the new report "US Healthcare IT Market Analysis," to their collection of Information Technology market reports. For more information, visit

The US Healthcare Information Technology (HIT) market has been growing at a rapid pace over the past few years, as there are high instances of new product introductions and evolving industry standards. With the cloud computing making buzz, the US HIT market is poised to reach new heights. Investment by public and private sector, in such a scenario, may prove to be a driving factor for the new technology adoptions.

As per new research report, "US Healthcare IT Market Analysis," the US healthcare IT market is forecasted to grow at a CAGR of around 22.5% during 2012-2014. This growth will mainly be driven by increasing adoption of electronic health records (EHRs) among medical professionals, incentive-driven approach of government health IT programs, and active participation by private sector players in industry development. The growth is also likely to be augmented through new government measures towards the rural areas and competitive environment.

Among all the HIT segments, HIT Hardware sector is estimated to have accounted for 55% of the overall market followed by Services and Software in 2010. The same ranking is expected to be there in future also. However, the growth in HIT Services market will increase its share in the market as opposed to Hardware segment that would witness a decline. Recurring nature and requirement of services at periodic intervals are the main reasons behind increase, while the reduction in cost with time is responsible for the decline in the share of hardware segment.

The report, in various regards, shows an optimum analysis of the US Healthcare IT industry. Covering almost all the key aspects of the market, the report takes into account all the recent developments with respect to cloud applications, EHR adoption, regulatory mechanisms, and IT deployment at hospitals. Segment-wise analysis of the Healthcare IT market into hardware, software, and services is meant to provide clients with information on the current and future state of strategies that players need to adopt in strengthening their market share.

For more information, visit

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