The Healthcare Information System Market report includes a global opportunity analysis and industry forecasts for the period 2023-2032. The global market was estimated at USD 303.43 Billion in 2022, registering a CAGR of 11.56% from 2023 to 2032. The base year considered for the study is 2021, and the forecast has been provided for the period 2023 to 2032.
Healthcare Information System Market is projected to register high demand during the forecast period with increasing demand from major application such as hospital information system, pharmacy information system, laboratory information system, revenue management cycle, and medical imaging during the forecast period. The healthcare information system application is a multi-stage progression. When implementing a healthcare information system, it is important to cogitate first what care processes it is required to support, and how the software and hardware are needed to support them in a patient-friendly manner. Technological advancements with regards to operations in hospitals, clinical laboratories, and diagnostic centers are one of the major factors propelling market growth. For instance, in 2019, Philips launched care aging and caregiving services to increase its share in the market. Moreover, the increasing demand for digitalization of healthcare records is further fueling market growth. It has created innovative, informed, and personalized care models in the healthcare system.
The healthcare information technology has improved the quality of care management by decreasing medication error, enhancing disease surveillance, and increasing adherence to guidelines. The increasing demand for cloud computing in medical facilities is propelling the growth of the market. Companies are trying to develop personalized care services such as real-time location services, report monitoring tools, self-service kiosks, etc.
The continued increase in the cost of healthcare has forced the government and private healthcare institutions to adopt healthcare IT systems to cut cost. Cybersecurity in mobile apps, medical fields, biomedical informatics, tele medication, virtual reality (VR), and electronic health records are some of the major applications that have adopted healthcare information systems.
Segment Analysis
Based on application, the healthcare information system market has been segmented into hospital information systems, pharmacy, laboratory, medical imaging, and revenue management cycle, etc. Factors such as increasing adoption rate and improved efficiency make this segment a major contributor to the market.
On the basis of delivery mode, the market has been divided into cloud-based, on-premise, and web-based. On the basis of component, the market has been segmented into software & systems, hardware, and services. The services component segment is expected to grow. Moreover, the software & systems component segment is expected to witness growth mainly due to the demand for advanced software.
Based on end-use industry, the market has been segmented into hospitals, diagnostic centers, and academic & research institutes.
The healthcare information system market has been studied for North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, and Rest of the World. The increasing number of chronic diseases and augmentation in healthcare are some other factors driving the regional market.
Key market players include Philips Healthcare, NextGen Healthcare, Carestream Health, Cerner Corporation, and GE Healthcare. These companies have adopted various strategies to improve their market share. For instance, in 2018, Change Healthcare launched Dx Gap Advisor to improve its portfolio. In 2017, Optum acquired the Davita Medical Group to expand its product portfolio.
Key Factors Impacting Market Growth:
- Increasing market demand for healthcare information systems
- Need for synchronization of healthcare activities
- Technological advancements
- Demand for cybersecurity
Regional Outlook:
North America, Western Europe, and Asia Pacific by region are estimated to dominate the health information system market during the forecast period. These regions have been market leaders for the overall healthcare sector in terms of technological developments and advanced medical treatments. Moreover, the government policies have been favorable for the growth of the healthcare infrastructure in these regions. North America and Western Europe have an established healthcare infrastructure for product innovations and early adaptations. This is expected to drive the demand for health information system market during the forecast period.
The US, Germany, France, UK, Canada, and Spain have been some the major markets in the region. Asia Pacific is estimated to register one of highest CAGR for health information system market during the forecast period. This region has witnessed strategic investments by global companies to cater the growing demand in the recent years. China, Japan, India, South Korea, and Australia are amongst some of the key countries for health information system market in the region. Other regions including Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for health information system during the forecast period.
Companies Covered: Philips Healthcare, NextGen Healthcare, Carestream Health, Cerner Corporation, and GE Healthcare…
Market Segmentation
By Application:
- Hospital information system
- Pharmacy information system
- Laboratory information system
- Revenue management cycle
- Medical Imaging
By Delivery Mode:
- Web-hosted
- Cloud-based
- On-premise
By Component:
- Services
- Hardware
- Software &Systems
By End-Use Industry:
- Hospitals
- Diagnostic Centers
- Academic &Research Institutes
By Region:
- North America
-
- US
- Canada
- Mexico
- Europe
-
- Germany
- Russia
- UK
- France
- Italy
- Spain
- The Netherlands
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Rest of Asia Pacific
- Middle East & Africa
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- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
- South America
-
- Brazil
- Argentina
- Colombia
- Rest of South America
Reasons To Buy This Report:
- Market size estimation of the global healthcare information system market on a regional and global basis
- The unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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