Survey: Health-IT market to top $34 billion by 2011
A new market study from BCC Research indicates that the healthcare-IT market will top $34 billion in sales by the year 2011, which represents a 13.4 percent average annual growth rate. In 2005 the market hit $16.38 billion and is likely to reach $18.5 billion in 2006, if forecasts are accurate.
Hospitals hold the prize in the market with a greater than 50 percent market share in both 2005 and 2006 at $8.6 billion and $9.5 billion, respectively. Projections are that the hospital market will hit $16.7 billion by 2011, an AAGR of 12 percent.
The full report can be found at www.bccresearch.com.
Hospitals hold the prize in the market with a greater than 50 percent market share in both 2005 and 2006 at $8.6 billion and $9.5 billion, respectively. Projections are that the hospital market will hit $16.7 billion by 2011, an AAGR of 12 percent.
U.S. health-IT market by sector, through 2011 ($ millions) | ||||
2005 | 2006 | 2011 | % AAGR 2005/2011 | |
Hospital Systems | 8,554 | 9,508 | 16,756 | 12.0 |
Physician Office / Home Care / Nursing Homes / Hospices | 7,701 | 8,856 | 17,813 | 15.0 |
Clinical Research | 125 | 130 | 166 | 5.0 |
Total | 16,380 | 18,494 | 34,735 | 13.4 |
Source: BCC Research |
The full report can be found at www.bccresearch.com.