Healthcare Industry Witnessing High Growth in Strategic Collaborations: Report

The US Healthcare IT market is gaining momentum due to technological advancements and stricter regulations for the industry. These advancements have paved the way for the US Healthcare IT market in changing the paper-driven industry to electronic industry. Owing to such transformation and factors such as investments by private players and strategic collaboration, the country's Healthcare IT market is expected to grow at a CAGR of 9% during the forecasted period of 2017-2022.

According to our latest research study, "US Healthcare IT Market Outlook 2022", mergers and acquisitions in the Healthcare IT sector have witnessed considerable growth over the past year. The Healthcare IT industry in the US is extremely competitive and quickly growing. However, the vendors face problems, like lack of resources which restricts them to upgrade their technologies. This creates an upward thrust among the players to seek for collaborations, both nationally as well as internationally, to prosper in the industry.

Strategic collaboration enabled the organization to better position itself for responding to customer needs and deliver next-generation innovations. For instance, in 2016, McKesson announced that it would combine most of its technology business with Change Healthcare Holding Inc. to form a new company. Additionally, Allscripts signed multi-year agreement with pharmaceutical data management solution provider, Assist RX in 2016. This will provide Allscripts an EHR Application integrated with three largest ambulatory, e-Prescribing and HER platforms in the US.

Further, growing associations among IT companies is anticipated to serve the pharmaceutical market growth for the forthcoming years. Hence, the US Healthcare IT market is forecasted to grow extremely in the years to come on the back of rising consolidations in the industry.