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)|
|Physician Office / Home Care / Nursing Homes / Hospices||7,701||8,856||17,813||15.0|
|Source: BCC Research|
The full report can be found at www.bccresearch.com.