Here are five things to know:
1. The market is currently valued at $125 billion.
2. From 2016 to 2022, the market is projected to reach $297 billion, increasing at a 13.2 percent compound annual growth rate.
3. The growing demand for patient safety, use of accurate data for healthcare decisions and making healthcare affordable as well as accessible will spur market growth.
4. In the aforementioned time frame, North America is projected to increase at a 17.4 percent CAGR, hitting $9.7 billion. Europe and Asia Pacific are following behind North America in market growth, with Japan accounting for almost 50 percent of Asia-Pacific’s market share.
5. Factors that may impede market growth include inability to operate the technology and failure to leverage digital technology.
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