The globalhealthcare IT marketis expected to grow from$99.6 billionin 2010 to$162.2 billionin 2015, at a CAGR of 10.2% from 2010 to 2015.

Support from the government in the form of stimulus packages is the biggest strength for the market. Implementation of nationwide health records in the U.S.,Europe,China, and all the other major markets depends upon the government initiatives. With the changing terms between clients and vendors, the markets offer huge opportunity for domain specific players. Healthcare IT providers generate more than 60% of their revenue through license updating and the remaining through new client acquisitions. This has attracted the attention of many non-healthcare segment players such as Google; which is offering Google health record for maintaining patient data.

The healthcare IT market is witnessing many developments with the introduction of healthcare reforms in developed nations. IT implementation has already streamlined healthcare and hospital procedures such as billing, medical imaging, and diagnostic information. However, the market still offers more scope for development, especially with increasing government incentives in the sector.

The currenthealthcareinformationtechnologymarketfocuses on interoperability platforms to enable data exchange across hospital networks and diagnostic centers. The healthcare IT market is witnessing many developments with the introduction of healthcare reforms in developed nations. IT implementation has already streamlined healthcare and hospital procedures such as billing, medical imaging, and diagnostic information. However, the market still offers more scope for development, especially with increasing government incentives in the sector.