According to the International Monetary Fund, the global GDP was close to £66 trillion at the end of 2018. Assuming that 10% of this value was spent on healthcare, as it was in 2015, that would make the world’s healthcare market worth £6.6 trillion. And, assuming a 3% spend rate on this figure, the healthcare industry likely spent around £198 billion on information technology (IT) in 2018.
Spending on IT in healthcare will grow at a fairly fast rate in the years to come as investments in value-based care, patient engagement services, connected medical devices, multi-cloud environments, data analytics, and mobile applications gain ground. And, as emphasis is given to preventive healthcare on top of treatment, IT spending will likely increase even faster to keep up with the growing list of services healthcare organisations provide.
All of this means increased personalisation for each patient and better productivity among healthcare staff. Ne