The healthcare IT market is projected to grow by nearly 11%, or $169 billion, between 2022 and 2027, according to a Dec. 3 report from Technavio.
Here are four takeaways from the report:
- The report found that "increasing focus on improving the quality of services and efficiency is notably driving market growth."
- During the projected period, the North American market will experience 46% of the growth.
- The report found that the vulnerability of EHRs to cybersecurity risks and ransomware is still a major impediment to market growth.
- The report names Oracle, Microsoft, 3M, UnitedHealthcare and Athenahealth as some of the major players in the health IT market.