For entrepreneurs, especially those working in technology, the healthcare system might seem like an endless city of gold, Mobi Health News reports. After all, research suggests that the global market for healthcare IT sits at around $167.4 billion in 2022. And it’s expected to expand at a compound annual growth rate (CAGR) of 29.3% through 2030. That means the market could eventually reach more than $1.3 trillion in revenue.
That’s roughly the entire gross domestic product for countries like Spain and Australia. And that has a lot of entrepreneurs trying their luck in the world of medtech.
“The allure of the healthcare industry can be hard to resist,” said Shannan Epps, president and CEO of Brightwork Health IT. “There is a lot of money within the sector, and it’s in critical need of transformation. These are two things every venture capitalist and tech entrepreneur look for when entering a market. But looks can be deceiving.” Read more.
