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The North American payer IT report defines and segments the concerned market in North America with analysis and forecast of revenue. http://www.micromarketmonitor.com/market/north-america-healthcare-payer-it-5736955120.html
(PRWEB) August 28, 2014
The North American payer IT report defines and segments the concerned market in North America with analysis and forecast of revenue. The payer IT market in North America was valued at $7,355.48 million in 2013, and is estimated to grow to around $9,722.93 million by 2018, at a CAGR of 5.7% from 2013 to 2018.
Browse through the TOC of the North American payer IT market, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation of payer IT market in the same region, and is supported by various tables and figures.
The North American payer IT market is expected to grow owing to the need of healthcare IT advancement, which will change the way payer IT functions. In North America, the payers spend 30% of their income in administrative costs because of manual processes. Healthcare payers are under tremendous pressure for customization of services, which is the main reason for the implementation of payer IT system in the U.S. and Canada. Consequently, to remain in the competitive market, payer healthcare IT is expected to improve its operational performance by bringing in new payer IT solutions. However, the U.S. Medicare is hampering the private plans as customers shift to government healthcare plans, ultimately reducing the opportunity for the private healthcare payer plans.
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In 2013, the U.S. dominated about 92% of the North American payer IT market. This market is segmented and forecast based on components and deployments of the payer IT market in North America. The components segment comprises hardware, software, and services, while the deployments segment includes on-premise, cloud-based, and web-based. The market is further segmented and forecast based on major countries, such as the U.S., Canada, and Mexico. The market is also segmented and analyzed further based on the end-users.
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This report includes market share and value chain analyses, and market metrics such as drivers, restraints, and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of the key players in this market.
Asian Healthcare Payer IT Market
Globally, Asia occupied a share of 12.5% in the healthcare payer IT market and was valued at $1.6 billion in 2013. It is poised to grow at a CAGR of 5.8%, from 2013 to 2018. The growth of this market is attributed to the government initiatives and the increasing penetration of health insurance in the Asian countries. HCIT solutions in this market also help in reducing errors and improve operational efficiency. However, in Asia, the out-of-pocket expenses in very high compared to other countries. It was close to 80% in India and China in 2011. Interoperability issues also restrain the growth of the Asian payer IT market to an extent. Growing medical tourism in the Asian countries provides significant opportunities for growth of this market.
Japan is the largest market for payer IT in Asia, and was valued at $550 million. India and China will be the two fastest-growing countries in this market.
In this report, the Asian healthcare payer IT market is segmented on the basis of deployment, component, product, types, and end-user. Web-based deployment mode is the most adopted technology, and was valued at $972.2 million in 2013. The services segment occupied a share of 35.8% in 2013, and was worth $559.4 million. Integrated solutions of CRM occupied a higher share compared to the standalone ones. Hospitals are the major end-users for payer IT solutions in Asia, and will also drive the market in the near future.
Europe Healthcare Payer IT Market
Companies of Healthcare Payer IT-Europe are Cerner Corporation, McKesson Corporation, Allscripts, Epic Systems and GE Healthcare.
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