Multiple Pockets of Opportunity for IT Vendors Targeting the Healthcare Market, IDC Says
FRAMINGHAM, MA – JULY 9, 2002 – The U.S. healthcare IT market has weathered recent economic storms fairly well and shows signs of steady growth during the next five years, reveals a new study from IDC. IDC believes there are multiple pockets of opportunity for IT vendors targeting a market that will grow from $17.2 billion in 2001 to $26.1 billion by 2006.
"The healthcare industry tends to lag other vertical industries in terms of IT spending," said Jocelyn Young, program manager of IDC’s United States IT Opportunity: Public Sector and Healthcare research. "As a percentage of revenue, healthcare usually spends less than other industries because of pressures to control costs and a more consensus-based decision-making cycle that tends to slow IT purchasing decisions."
IDC’s research shows the healthcare industry in the U.S. faces pressures from many different directions, ranging from federal regulations to a renewed focus on disaster preparedness. The industry needs to balance these numerous regulatory, economic, and financial pressures while maintaining its focus on delivering quality patient care.
However, IDC believes IT stands to play a crucial role in helping healthcare providers address some of the challenges they face. IT vendors who serve the healthcare market need to understand the layers of complexity of this industry in order to translate these layers into pockets of opportunity for IT.
In this bulletin, U.S. Healthcare IT Market Forecast and Analysis, 2001-2006 (IDC #27492), IDC provides a 5-year forecast for the U.S. healthcare IT market. In addition, forecasts by IT segment (hardware, software, and IT services) and by sub-industry (hospitals, offices and clinics, and other) are included.
Furthermore, IDC presents insight into the key trends impacting IT adoption in the healthcare industry and offers specific recommendations for IT vendors who are selling into the healthcare market.
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