Healthcare Information Systems Market Analysis, Share, Size, Trends, Growth, Segments and Industry Forecast to 2027
Health Information Systems (HIS) offers solutions for the security and data management of health information. Electronic medical records and personal health records are some of the most commonly used SIS applications. Today, information technology (IT) significantly influences the costs, quality and safety associated with healthcare. Advances in digital healthcare technology are helping clinical facilities improve the efficiency and effectiveness of their services.
Integration with cloud, IoT, big data and AI technology, healthcare information systems ensure secure, reliable and efficient operations in hospitals, diagnostic centers and other healthcare infrastructures. As a result, the adoption of healthcare information systems is increasing colossally. Subsequently, the global health information systems market is in continuous growth. Additionally, the growing demand to counter security issues in healthcare infrastructure is driving the market up on the global platform.
According to Market Research Future (MRFR), the global market health information systems market is expected to witness significant growth by 2023. In its recently released analysis, MRFR also claims that the market would register a CAGR above 10% throughout the forecast period (2018 to 2023). The quadrupling number of healthcare facilities which are mainly driven by the ever-increasing population demanding quality care is immensely supporting the growth of the market.
Conversely, high cost of components and technical limitation are some of the factors restraining the growth of the market. Nevertheless, the technological advancements expected in the recent future would support the growth of the market, reducing costs and improving healthcare information systems significantly.
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Main actors :
Key players in the global HIS market are Agfa-Gevaert NV, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Carestream Health, Cerner Corporation, GE Healthcare, McKesson Corporation, Medidata Solutions Inc., NextGen Healthcare, Philips Healthcare and Siemens Healthineers, among which the others.
Global Healthcare Information Systems (HIS) Market – Segments
By type : Hospital Information Systems, Pharmacy Information Systems, Laboratory Information Systems, Medical Imaging Information System, and Revenue Cycle Management, among others.
By components : software and hardware,
Per deployment : Web-based, on-premises, and cloud-based, among others.
Per end user : Hospitals, diagnostic center and academic and research institution, among others.
By regions : Europe, North America, APAC and Rest of the World (RoW).
Global Health Information Systems Market – Regional Analysis
North America is leading the global healthcare information system market owing to the growing demand for high-quality diagnostic systems. Additionally, the large-scale implementation of electronic records and storage systems in the healthcare system is driving the regional market. The markets of Canada and the United States support the expansion of the healthcare information system market in this region.
Simultaneously, the presence of well-established technological development sector, major market players and favorable regulatory support influences the growth of the regional market. Furthermore, massive demand for futuristic HIS, growing digital advancements, and mass adoption of advanced technologies are propelling the increase in the regional market.
Europe occupies the second leading position in the world market for information systems. The presence of well-developed healthcare infrastructure and developed economies, along with the resurgent economy in the region, is driving the growth of the regional market. Furthermore, growing demand for futuristic HIS and increasing funding for passenger comfort management concerns are justifying the growth of the European market in the region.
The healthcare information system market in the Asia-Pacific region is emerging as a promising market globally. The region demonstrates considerable market potential for the health informatics industry. Furthermore, government initiatives in rapidly growing countries, such as India and China, to improve healthcare services and provide better infrastructure, are in turn driving the growth of the regional market. The APAC region has seen a steady increase in the healthcare sector, with improving economic conditions and purchasing power expected to increase further.
Healthcare Information Systems (HIS) Market – Competitive Landscape
Highly competitive, the health information systems market appears fragmented with the presence of several well-established players. They incorporate strategic initiatives such as collaboration, mergers and acquisitions, expansion and launch of products and technologies in order to gain substantial market share.
Technology vendors strive to develop an information solution capable of delivering a suite of application offerings to help meet healthcare needs. Using proven methodologies and best practices, they attempt to bring together disparate point systems from multiple vendors into an integrated and secure environment.
September 16, 2019 —– 3M Health Information Systems Inc. (USA), one of the world’s leading providers of computer programming services, has launched 3M M*Modal CDI Engage Onea technological breakthrough that can provide real-time clinical information to clinicians, clinical documentation improvement (CDI) specialists and coding teams.
The new software results from M*Modal’s acquisition by 3M in February 2019. It brings the power of 3M and the advanced artificial intelligence (AI) and natural language understanding (NLU) technology of M*Modal. Advanced AI tools streamline document creation, helping physicians capture the complete and accurate patient story, which helps drive higher quality outcome data and improves revenue integrity, resulting in physicians more time to care for patients.
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