Healthcare IT integration market predicted to reach $2,745.9M by 2018

The global healthcare IT integration market is forecast to reach $2,745.9 million by 2018, up from $1,737.3 million in 2013, according to a report from global market research and consulting company MarketsandMarkets.

For its report, the firm analyzed products including interface engine, medical device integration and media integration; services such as implementation, maintenance and training; and applications for hospitals, radiology, laboratory, clinics and health information exchanges.

During 2011 to 2014, agreements, collaborations and partnerships were the key strategies followed by major players in the global healthcare IT integration industry to achieve product enhancement, gain immediate technological competency and widen their geographic presence, according to the report.

Growth in the market can be attributed to rising healthcare costs, which has compelled governments in many developed countries across the world to initiate cost control initiatives in their respective healthcare systems.

Globally, there has been a continuous demand for healthcare integration; this demand is triggered by factors such as the presence of strong government support and initiatives, growing need to integrate healthcare systems, and efforts from healthcare providers to maximize their returns on investment, according to the report.

However, interoperability issues remain the most prominent challenge that restricts the wider adoption of integration tools within the healthcare industry.