The presentation, given to the AIIA Healthcare special interest group, identifies ICT business opportunities in the Australian healthcare sector for SME companies.
The total market for healthcare IT in Australia was estimated to be approximately A$1.6 billion (€ 0.99 billion) for the year 2003 (software, hardware, services and maintenance revenues). This represents around 2 percent of the total healthcare spending in Australia for 2003 as opposed to 1.5 percent of total healthcare spending in 2000.
The market is projected to grow by 13-15 percent in 2004 and thereafter by around 11-13 percent per year till 2007.
The fastest growing sub-segments of the total market are software and services. Growth rate in the hardware sub-segment is virtually half that of the software or services segments. This can attributed to the steadily declining prices of hardware.
Growth rates in the total healthcare IT market are subject to wide fluctuations on account of the fact that large value contracts/projects are not confirmed or implemented with regularity. These large value deals tend to skew growth as and when they come through.
Long-term growth will be sustained by the overall increase in public awareness and provider accountability regarding health service efficiencies and patient safety.