North American Healthcare Payer IT Industry Growth at 5.7% CAGR to 20181. North American Healthcare Payer IT Market
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Payer IT systems is an innovative approach introduced to revolutionize accounting processes
and maintenance of payment records. These systems were introduced as a result of the
growing need to meet time-to-market requirements, maintain smooth communication
between payers and providers, and minimize administrative costs. The increasing number of
healthcare facilities in the region and the consequent need for payer IT solutions are driving
the healthcare payer IT market in North America.
The North American payer IT market is the largest contributor in the global healthcare payer IT
market, having accounted for a share of 58.92% in 2013. The North American market is
projected to grow at a CAGR of 5.7% during the forecast period, 2013 to 2018.
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North American Healthcare Payer IT Market
3. In 2013, the U.S. held an undisputable majority of the North American market with a share of
92.15%, and is forecast to grow at a CAGR of 5.8% during the given forecast period. The
Canadian segment is expected to be the fastest-growing market in the region, projected to
grow at a CAGR of 6.5% from 2013 to 2018.
North America is a technologically advanced region, with numerous innovations being
introduced in the fields of healthcare, pharmaceuticals, and biotechnology. Moreover, the
number of healthcare facilities such as hospitals and clinics is on the rise in this region.
With the increasing number of patients, the demand for a cost–effective and efficient
accounting and recording system is increasing in the region, where payer IT solutions have
been observed to meet these demands most effectively. In addition, a high return on
investment in healthcare IT sector has attracted heavy investments from the governments as
well as top companies in the region.
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North American Healthcare Payer IT Market
4. The North American healthcare payer IT market is expected to grow significantly in the coming
years mainly owing to the aforementioned factors. Furthermore, healthcare expenditure is one
of the most important macroeconomic variables impacting the growth of the healthcare payer
IT systems market. Some of the major companies who are investing and expanding operations
in the North American market include Oracle Corporation (U.S.), Cerner Corporation (U.S.), and
Aspect Software (U.S.), among others.
The North American healthcare payer IT market report provides insights into the segmentation
of the concerned market. The North American market has been segmented in terms of end-
users, sub-markets, components, deployments, and the major countries in the region.
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North American Healthcare Payer IT Market
5. Table of Contents
1 Introduction
1.1 Introduce the Market
1.2 Objective of the study
1.3 Market Definition and Scope of the study
1.3.1 Market Definition
1.3.2 Areas covered
1.3.3 Markets Covered
1.4 Stakeholders
1.5 Research Methodology
1.5.1 Secondary sources
1.5.2 Primary Sources
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North American Healthcare Payer IT Market
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North American Healthcare Payer IT Market