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Healthcare Information Technology Market in China
Frost & Sullivan, March 2010, Pages: 70
This Frost & Sullivan research service titled Healthcare Information Technology Market in China provides an in-depth analysis of the market drivers and restraints, industry structure, and competitive environment besides dealing with the challenges and issues faced by market participants.
Market Overview
Healthcare Information Technology Market in China Booms as Information Technology Budgets Grow Despite the Economic Slowdown
Egged on by initiatives unleashed by the Chinese Government and regulatory authorities, the healthcare information technology (HIT) market in China has witnessed strong growth. In the wake of economic slowdown, companies have been resorting to cost-cutting strategies and budget cuts. Nonetheless, healthcare organizations are planning to increase spending on healthcare IT solutions and services to optimize the quality of healthcare delivery as well as address the issue of escalating healthcare costs. 'The government’s Health Informatization Development Plan has provided added impetus to the already burgeoning HIT market,' notes the analyst of this research service. 'According to the new healthcare reform plan, greater utilization of IT in the hospital scenario would help trigger improvements in the healthcare system.' These programs are accelerating growth in administrative HIT systems as China steps up the tempo to keep pace with other developed nations. Of late, the awareness about the advantages of adoption of HIT solutions has been rising steadily. China’s expanding elderly population and the growing incidence of chronic disease are likely to result in greater spending to expedite efficiency in the healthcare system. China is expected to follow in the footsteps of other advanced nations, aiming to achieve maximum outreach for healthcare delivery.
The high cost of HIT solutions has been a major restraining factor for hospitals. The initial investments are directly proportional to the size of hospitals, the number of beds, or the number of uses of systems. This cost also involves a percentage of the initial expense as the annual expenditure toward maintenance and support. Moreover, past investments have more or less resulted in poor results, and have shown very slow realization of return on investments. These critical factors are causing hospitals in China to hesitate when it comes to investment in IT.' Lack of industry standards in countries such as China is a major hindrance to uptake of healthcare IT solutions,' says the analyst. 'It is very important to have these standards in place to allow information to flow easily in the healthcare environment.' Customization is also a long-winded process, which deters end users. Unlike many other information system markets, there is no 'one-system-fits-all' kind of system. This, in turn, hikes up system cost.
The future trend with respect to healthcare IT penetration varies from country to country. In China, the focus is more on replacing legacy systems. Clinical IT systems and electronic medical records/electronic health records are the lucrative areas that promise high growth. Interoperability products and mobile solutions are poised to gain traction as hospitals are grappling with integration issues. Participants must strive to increase the usability of HIT solutions to ensure better acceptance from major users, physicians, nurses, and other healthcare professionals. Vendors must employ end-user-centric sales strategies involving education sessions, pilot programs, and need-based assessment sessions. The market is rife with opportunities as hospitals are striving to deliver safe, high-quality, and cost-effective care to stay competitive.
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