EHR, Info Exchanges to Drive Healthcare IT Market Growth Through 2020

electronic health record EHRNew research from forecasts the global healthcare information technology market will enjoy a $13.4 percent annual growth through 2020 as more organizations use electronic health record systems and health information exchanges. said Tuesday healthcare providers have adopted IT tools for managing workflows and patient data in an effort to meet regulatory requirements and cut medical costs.

North America and Europe held the biggest shares of the market during 2014, the report says.

The Asian-Pacific health IT sector is forecast to grow at a 15.4 percent compound annual growth rate over the next five years, driven by medical tourism and a demand for medical information and communication technologies.

The report also projects the health IT market’s clinical segment will achieve a 19.8 percent CAGR over the forecast period.

Vendors mentioned in the report include General Electric, Oracle, Siemens, Philips, Cerner, McKesson, Epic Systems and Infor.

You may also be interested in...

Paul Dillahay President

NCI Partners With Mercyhurst to Advance AI Platform; Paul Dillahay Quoted

NCI Information Systems has entered an academic partnership with Mercyhurst University to advance NCI’s artificial intelligence (AI) technology for the federal government. “We’re excited to work with Mercyhurst University to further augment the NCI Empower AI platform,” said Paul Dillahay, president and CEO of NCI and a 2020 Wash100 Award recipient.

James McFadyen VP

Former Leonardo DRS Exec James McFadyen Joins Fairbanks Morse as Aftermarket Business Lead

James McFadyen, formerly a vice president at Leonardo DRS' naval power systems group, has been named VP and general manager of the aftermarket business at Fairbanks Morse.

NuScale Power small modular nuclear reactor plant design

Fluor Plans to Support NuScale Reactor Project Through Potential $1.35B DOE Funding Vehicle

The Department of Energy has cleared a funding vehicle worth potentially $1.355B for a public power consortium-led project that includes construction of a small modular reactor plant by NuScale Power, which Fluor holds a majority stake in. Fluor said Monday it plans to support Utah Associated Municipal Power Systems and NuScale in establishing a clean-energy SMR system through UAMPS' Carbon Free Power Project.