Rapidly growing health info tech industry faces threats, opportunities, worldwide
November 10, 2009
Scientia Advisors of Cambridge, MA, and Palo Alto, CA, has found that while HIT’s share of the $1 trillion healthcare products market by will grow by 25% through 2013, some segments will do better than others as a result of government incentives and regulations and a changing healthcare marketplace, worldwide.
Based on an industry review released today, Scientia, which is my client, says that in order to remain competitive, companies must factor in government incentives, new clinical decision-making and electronic health record requirements, as well as emerging competitors and markets in Asia and elsewhere in the developing world.
“Historically, therapeutics and medical devices have captured more than 90 per cent of worldwide healthcare product sales,” said Harry Glorikian, Scientia Advisors’ managing partner.
“But with declining marginal benefits from new interventional products and greater emphasis on appropriate use of existing interventions, we project accelerating HIT-related sales.” By 2013, indications are that HIT sales will grow from four per cent of the worldwide health care products market to five per cent—representing a 25% increase in HIT’s market share.
The review assessed HIT’s likely impact on “front” and “back office systems,” clinical testing, diagnostics , and pharmacies; how government mandates in North American, Germany, Norway, the UK, China and Australia will affect worldwide HIT opportunity– including a 25% CAGR in China; how the US stimulus bill will impact electronic health records, clinical decision support systems and the adoption of HIT by hospitals of various sizes; and the consequences of CDSS for healthcare market participants.
The review, funded by Scientia itself, was based on extensive primary and secondary research and proprietary analytic methods. It’s available for download from Scientia’s Web site at www.scientiaadv.com.
HarrisComBlog is a publication of the Harris Communications Group of Cambridge, MA. We also publish New Cambridge Observer.
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