The world as we know it right now, is continuing on its course of expanding not just in terms of geographical expansion but in terms of the continuous expansion of all functioning industries of the world. You see, whether we like it or not, we all need to expand for us to be able to keep up with the rapid evolution of things. One of the things that is continuing to change our lives in various ways is the kind of technology that most of the human population use on a daily basis. Technology has become a basic commodity for humans to the point that some of us may even lose our mind if we lost our smartphones for example because technology like smartphones allows us to do more things than just making calls or sending text messages to your friends and love ones. And speaking of the newest and latest technologies, healthcare IT systems are now becoming a thing especially in the healthcare industry.
Just so many of you failed to notice, the market of healthcare IT systems that are being employed by healthcare services providers is current on the rise and will continue on its expansion until the year 2024. Top players in the market were able to hold 26% of the market back in 2015. The reason as to why the said two companies were able to hold such a comfortable margin against a growing competition is that these players have diversified portfolios which prove to be the key to their dominance over the rest. In fact, according to the Transparency Market Report or TMR, the market involving healthcare information systems is expected to be worth 444 billion US Dollars by 2024- significantly growing from its 2015 worth which was only amounting to 192 billion US Dollars. Between 2015 and 2024, there will be a compound annual growth rate or CAGR at 10.1%. According the mentioned report, two things have become the main focus of the top players which also explain why they are on top: mergers and various acquisitions which enable them to expand their geographical presence and also to gain additional revenues.