Federal Health IT Market Expected to Grow Through 2022

Posted by Nick Schiffler on June 8, 2018

Doctor Laptop

A recent report from the GovWin Federal Market Analysis team found that the trends for federal health IT government contracting are pointing in the right direction for the next 5 years. Deltek’s Federal Health Information Technology Market, 2018-2023 report examined the policies and drivers that are shaping the landscape for information technology within healthcare at the federal government level.

“Federal health care expenditures are expected to climb as the Medicare population grows and as health care costs for the military and veterans continue their upward trajectory,” states the report. “Federal agencies must find a way to increase efficiency and effectiveness, lower costs and improve outcomes.”

While overall spending at the Health and Human Services department is expected to drop slightly over the same five-year period, from $2.6B to $2.4B, spending on health IT (sometimes known as HealthTech or MedTech) should continue to grow. As new technologies continue to be implemented across the industry, federal government agencies will be eager to keep up and make sure they are using the most modern, useful types of health technology.

“The medical field often lags behind other industries in adopting new technologies,” says the report. “However, the industry is poised for radical change due to disruptive, computer-based technologies such as artificial intelligence, machine learning, blockchain, [fast health care interoperability resources, or FHIR], big data, robotics and 3-D printing. Expect demand for health IT solutions based on these technologies to remain strong over the next five years.”

By reading this latest analysis of the federal contracting market, performance-minded business development professionals will gain access to:

  • Details into the market structure, budget, policies and technologies driving the federal health IT marketplace
  • Budget and contract spending trends within federal health IT
  • Predictions of federal health IT program and market spending
  • Analysis of agency health IT budgets, priorities and initiatives as well as market projections

This report is just one example of the in-depth market analysis that GovWin+Onvia analysts are doing on a regular basis. By leveraging a market intelligence platform that contains the most comprehensive government spending data on the federal, state, local and education markets, our research team is able to uncover information that vendors can use to build their pipeline and plan their government sales strategies.

Subscribers to GovWin IQ’s Federal Market Analysis already have complimentary access to this report. For others who are looking to get detailed insight into the federal health IT market, a free summary of the report is available on a complimentary basis at this link. The full report is also available for purchase here.

And vendors who sell into the government market that want to see the most comprehensive public sector market intelligence available anywhere are in luck, as well. To see how the GovWin+Onvia platform can help grow your sales to the government by helping you identify and win more government business, simply click here to request a free trial today.