North American healthcare IT market to reach $72.2B — 4 quick notes

The North American healthcare IT market is expected to grow at a compound annual growth rate of 16.5 percent, based on an Absolute Report analysis, according to Medgadget.

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Here are four quick notes:

1. The North American healthcare IT market is anticipated to hit $72.2 billion by 2020.

2. The demand for reduced healthcare costs and need for secure patient information will spur market growth.

3. Additionally, an increasing use of health information exchanges and electronic health records will boost the healthcare IT market.

4. McKesson, Allscripts Healthcare Solutions, athenahealth, Epic Systems, GE Healthcare, Siemens Healthcare, Cerner and Carestream Health lead the North American market.

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