Photo - Arpana Bharti, Market Analyst, IDC Health Insights.
International Data Corporation (IDC) Health Insights expects healthcare IT spending in Malaysia to reach US$126 million in 2019, growing with a compound annual growth rate of 5.8 percent from 2012 to 2019.
Arpana Bharti, market analyst, IDC Health Insights, said findings from a recent IDC study - Malaysia: Healthcare IT Spend Market Analysis, Forecasts and Trends - showed that the largest spending group in health IT is the healthcare providers market including hospitals with 88 percent share in 2015.
Bharti said that in the same year, spending on the hardware segment was the highest with services and software spending ranked second and third places, clearly indicating the country's current priorities are focused on upgrading existing infrastructure and implementing 3rd platform technologies like cloud, big data analytics, mobility and social in the next 2 to 3 years.
"There are three primary macroeconomic indicators that will help bolster the IT spending growth in the Malaysian healthcare market," she said. "These are favourable government legislation, continued investments into public health and the growing number of private hospitals in Malaysia."
The growth of the aging population segment, rapid urbanization, heightened awareness of diseases, and the desire for healthy living are the other factors driving growth in the healthcare industry, added Bharti.
Urban health needs
She suggested that to differentiate themselves, Malaysian healthcare vendors should create solutions designed for such urban health needs as the population now accounts for more than 70 percent in the country.
Bharti said the study also showed that the rising demand for ease-of-access to care delivery, transparency in billing procedures and mobility solutions for physicians are also factors that will shape the future of IT spending in Malaysia.
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