Survey: Health-IT market to top $34 billion by 2011

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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.

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.