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January 26, 2015

Healthcare IT spend to reach $14.6bn in 2018

The five-year growth outlook for the UK remains below 1%.

By Amy-Jo Crowley

Total IT investment for the healthcare provider market in Western European will hit $14.6bn in 2018, up from $13.2bn in 2013, according to research.

The latest IDC Health Insights study said much of the growth will be driven by investments in software, representing a 4.6% compound annual growth rate (CAGR), as investments in IT services grow more slowly at 1.6% and hardware spending falls by 1.0%.

Silvia Piai, EMEA research manager, IDC Health Insights, said: "Financial constraints in the market are still a major barrier to sustainable growth, but health authorities and decision makers are turning to digital transformation to reform healthcare systems, with the objective of achieving a balance between ensuring access and quality of healthcare services and ensuring long-term financial sustainability."

"Integrated care initiatives and hospital modernisation are two areas where digital transformation is expected to have a major impact."

According to the report, the UK will account for most of the healthcare IT spend market, but the five-year growth outlook remains below 1% due to "an ongoing cautiousness" about IT investments levels.

Meanwhile, Germany continues to be the fastest-growing market, representing a 3% CAGR during the same period, followed by France with 2.2%, driven by government initiatives.

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