Unmet Needs of Patient Population in Emerging Economies to Provide Opportunities for Players in IT-enabled Healthcare, Says TMR
The IT-enabled healthcare market is highly fragmented with a large number of established players. Key players such as McKesson Corporation, Cerner Corporation, GE Healthcare, IMS Health Holdings, Inc., and Philips Healthcare have established themselves and collectively accounted for 14.3% of the market in 2013. Players are focusing on extensive product development and integrating across the value chain to reduce the overall cost of IT-enabled healthcare, states a new report by Transparency Market Research (TMR). The threat of new entrants is high as new players are attracted by the rapidly expanding market. The low initial investments required and the low regulatory barriers in the market also work in the favor of new entrants. However, new entrants require access to distribution channels and also partnerships would be vital for their growth. Since no external substitute for this technology is available, the threat of substitutes is expected to be low in the coming years. Browse Global Strategic Business Report: http://www.transparencymarketresearch.com/it-enabled-healthcare-market.html Government Initiatives Promote Adoption of IT-enabled Healthcare Services The various government initiatives across the globe are promoting the growth of IT-enabled healthcare market. Governments across the globe have been taking many efforts to ensure that people get technologically advanced healthcare infrastructure. The market is also driven by the rising incidences of chronic diseases. Since chronic diseases require long-term medication and continuous monitoring, IT-enabled healthcare solutions proves beneficial. The rising administrative and operational cost of healthcare organizations have created a need for cost effective solution to provide healthcare to patients. As such, IT-enabled healthcare is attractive in terms of its cost-effectiveness and efficiency as compared to the conventional paper-based systems. Thus, the adoption of IT-enabled healthcare systems is expected to rise in the coming years. Data Security: Matter of Concern for Healthcare Organizations The information shared between different healthcare organizations is sensitive in nature and thus,