IT-enabled Healthcare Market to soar at 11.8% CAGR till 2020 thanks to Increasing Government Initiatives

IT-enabled healthcare offers viable means of overcoming shortfalls in the existing healthcare delivery system across the world. The key benefits of IT-enablement of healthcare delivery systems include the ability to reach a larger consumer base at minimal cost with efficiency. Companies operating in IT-enabled healthcare market offer numerous efficient solutions to healthcare organizations and practitioners to improve the quality of healthcare services. Moreover, healthcare IT solutions have also enabled individuals to gain access to quality healthcare services remotely without inconvenience of visiting a healthcare facility. It helps to meet challenges such as a poor doctor-to-patient ratio and ensures that essential health services are made available in the remotest of locations. IT-enabled healthcare solutions are utilized for various applications such as general healthcare and fitness, medication information, remote monitoring, collaboration and consultancy, healthcare management, and access to health data and records. The global IT-enabled healthcare market was valued at USD 96.87 billion in 2013 and is expected to grow at a CAGR of 11.8% during the forecast period 2014 – 2020.

Read Full Press Release : http://www.transparencymarketresearch.com/pressrelease/it-enabled-healthcare-market.htm

Numerous government policies across the world have generated strong demand for IT enablement of national and district level healthcare facilities. Given the increasing focus of governments across the globe on developing their respective country’s healthcare infrastructure, public/private healthcare infrastructure is rapidly growing. Countries such as India, China, Brazil, Argentina, Chile, Algeria, and Singapore among others are increasingly spending on public sector health programs through various private and government-sponsored models in an effort to reach out to the masses. Moreover, inefficiencies of the traditional paper-based systems such as incompleteness, redundancies and high costs lead to unnecessary healthcare expenditures. IT-enabled healthcare offers a viable replacement of traditional systems to reduce healthcare costs and increase efficiency and quality of healthcare services. The use of electronic medical records (EMR) and other healthcare information systems ensure continuity of healthcare services regardless of their geographical location. Other benefits offered by healthcare IT solutions such as convenience through remote monitoring, home diagnosis and other mHealth solutions are further driving the growth of IT-enabled healthcare market.

Healthcare IT solutions are used by various healthcare facilities including public/private healthcare institutions, physicians, healthcare workers and individuals. In 2013, public/private healthcare institutions held the largest market share in the overall IT-enabled healthcare market in terms of revenue. The individuals segment is expected to witness the fastest growth during the forecast period from 2014 to 2020 due to the rising awareness and demand for healthier lifestyle. In recent years, the global IT-enabled healthcare market has witnessed huge demand owing to government initiatives and technological advancements. Developed markets such as North America and Europe are comparatively mature markets for healthcare IT solutions as they were the early adopters of eHealth solutions. North America constituted the largest market share in the global IT-enabled healthcare market in 2013. Despite its late penetration in the Asia Pacific region, the IT-enabled healthcare market is expected to witness tremendous growth during the forecast period from 2014 to 2020 due to government initiatives in the region. The RoW region is also expected to offer immense growth opportunities in IT-enabled healthcare market on account of the ongoing healthcare reforms in Middle East and Africa region.

Request Sample pages of premium Research Report : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3918

McKesson Corporation, Cerner Corporation, and Koninklijke Philips N.V. were identified to be the top three players in the IT-enabled healthcare market in 2013. Other key players in the IT-enabled healthcare market include GE Healthcare, Siemens AG, IMS Health Holdings Inc., Allscripts Healthcare Solutions Inc., eHealth Technologies, E*HealthLine.Com Inc., AirStrip Technologies LP, Aerotel Medical Systems Ltd., Johnson & Johnson Healthcare Systems Inc., AT&T Inc. and Apple Inc.

New Trends of Global Bioinformatics Market with Worldwide Industry Analysis to 2020

The global bioinformatics market is expected to grow at a CAGR of 15.5% between 2014 and 2020. The market was worth US$10.04 bn in 2013 and is projected to reach US$30.87 bn by the end of 2020. The drug development segment is anticipated to lead all application segments. North America is expected to maintain its dominance in the global bioinformatics market with a revenue worth US$11,927.9 mn by 2020. Asia Pacific is expected to witness the highest growth with a CAGR of 18.7% throughout the forecast period.

The prevalence of high entry barriers is estimated to increase the rivalry between the numerous existing companies in the global bioinformatics market, making it highly fragmented. The existing companies are focusing on the implementation of acquisition strategies and collaborations in order to enhance their product portfolio and expand their market reach.

Read Full Report: http://www.transparencymarketresearch.com/bioinformatics-market.html

The implementation of expansion strategies to enhance market share will increase the intensity of competitive rivalry on the global level for the existing market players, reports Transparency Market Research in a new study. To maintain their position in the global bioinformatics market, the large number of market players operating in the global bioinformatics market are investing in research and development projects. They are also looking forward towards technological advances for increasing application in biosciences and integrated information technology. The top three market players in the global bioinformatics are Affymetrix Inc., Accelrys Inc., and CLC bio A/S. They together comprise approximately 34.6% of the overall global bioinformatics market in 2014.

Growing Need for Technological Advancements to Augment Demand for Bioinformatics Techniques

The expansion of biotechnology applications in fields of forensic research and disease diagnosis is drawing the attention of various healthcare organizations and professionals. According to the TMR report, biotechnology with technological and process advancements tends to create high-wage job opportunities in developing and developed countries due to which governments are focusing on the growth of the biotechnology industry.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=656

For instance, The Biotechnology Industry Organization of the United States of America promotes collaborations between industry participants, academic organizations, and state governments of the country in order to develop bioscience groups. In this regard, the state governments are also increasing the implementation of strategies and programs to create job opportunities in the field of bioscience.

Many companies have implemented reimbursement policies funded by the governments to train employees in order to fulfill the requirement of skilled employees working in the field of bioinformatics services. Thus, the initiatives taken by governments to support research and development projects and creation of jobs in the biotechnology sector are anticipated to boost the global demand for bioinformatics services.

Lack of Skilled Workforce Could Hinder Supply Side of Bioinformatics Services

For better and accurate results, it is imperative that the bioinformatics techniques are operated by skilled personnel. The need for heavy investment in installation and tools upgradation training tends to impede the growth of the industry. Due to this, there is a lack of skilled manpower in the bioinformatics sector who can adapt to sophisticated and high-end biotechnology process and techniques. The scarcity of skilled workers is hindering the growth process of large clinical laboratories as they struggle to automate their processes. On the other hand, the small and medium laboratories have amplified their efforts to abridge and boost their operations with the available resources. Research and development activities also demand highly skilled personnel, but the lack of it is obstructing the growth process making it difficult for organizations and market players to benefit from their research investments.

Brochure Download: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=656

However, the expansion in web-based services for research and development is likely to cut down the cost of R&D processes. The web-based bioinformatics segment is projected to witness substantial growth in the upcoming years in the global bioinformatics market.