Summary
Even before the passage of the American Recovery and Reinvestment Act of 2009 guaranteeing (depending on who's doing the estimating) somewhere between $20 and $25 billion in new health IT spending by 2015 in this country alone, Global Industry Analysts had already projected that the worldwide hospital information systems segment, itself, would exceed $35 billion by 2015. The U.S. hospital information system market is experiencing an increase in acceptance of customized technology such as laboratory information systems and radiology information systems, the report notes. That market is also a promising ground for electronic medical record systems (especially now after the passage of the Economic Stimulus Package).
Analysis
The growth of the emerging health informatics market is high in countries such as Australia, China, Thailand, Malaysia, India and the Phillipines. This emergence of a fast growing healthcare industry in the Asia-Pacific region represents a good omen for substantial growth in the overall global market for these products and services.
The United States market, also, is projected to grow at a 7.2% annual rate over the next few years. Clinical systems are now dominating the market in terms of both popularity and revenues, owing to the increased emphasis on decreasing medical errors, improving quality and boosting value (increasingly the basis for reimbursement)
Companies poised to benefit from these global market trends include:
1. General Electric;
2. Eclipsys;
3. Allscripts;
4. McKesson;
5. Cerner;
6. Siemens;
7. QuadraMed;
8. Agfa-Gevaert;
9. Epic Healthcare Systems; and
10. IBA Health and Integrated Medical Systems
