The Global Hospital Information systems market was valued $xx Mn in 2020 and is expected to reach $xx Mn by 2027, at a CAGR of xx%.
Global Hospital Information Systems Market Introduction and Overview
Hospital Information Systems (HIS) is a highly organized data system, which is used to screen and manage hospital associated activities such as scheming, administration, finance and documentation. With the increasing prevalence of disorders and diseases, there is an increase in number of patients in the hospitals. To manage the data efficiently, hospital information systems are of great use.
HIS increase the accuracy of the information, lowers, errors and reduces the time for documentation. With the rise in number of patients and varying disease types, it becomes complicated to make the data available to financiers and regulatory authorities. If the information is not conveyed properly, it can result in poor delivery of care. With the help of HIS, professionals can take proper care and provide proper medications to patients by studying their health history.
The growing urge of hospitals and adoption of upgraded automation systems are expected to drive the market for HIS. Inefficiency of manual procedures and increased patient flow in hospitals has created a demand for such systems. Moreover, recently developed information systems possess additional and advanced benefits such as easy data access, high data security, maximum flexibility and data integrity.
Hence, there is an increased demand for Information systems which is expected to drive the market in the forecast period. Rapid development in healthcare infrastructure coupled with other factors such as increasing investments, favourable reimbursement policies for patients are encouraging hospitals to opt for information systems to maintain consistency of healthcare procedures. Information systems improve the data efficiency, minimizes data duplication and protects the data from thefts. The stated factors are expected to favour the market growth for hospital information systems in the forecast period.
The report contains detailed analysis of Strengths, Weakness and opportunities of the key players operating in the Hospital Information systems market. It also provides information on current market trends, competitive ranking analysis, regional bifurcation, turnover forecasts, industry drivers and the key challenges.
The report has profiled eighteen key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analysing the market and estimation the size of the same. The growing healthcare infrastructure in each region is different and focus is given on availability of advanced technology and new techniques.
Global Hospital Information Systems Market Segment Analysis
Cloud-based segment held a dominant share of xx% in 2020.
Based on deployment, the market is segmented as web based, cloud-based and premise. The cloud-based segment accounted for a prominent share of xx% in 2020, and is expected to grow at a CAGR of xx% during the forecast period.
Cloud computing is an emerging field that is expected to change the entire information technology processes and IT market in future. It is changing how we develop, deploy, use the information technology and the infrastructure that it runs on. The cloud is typically built in a multi-layered manner. Cloud-based systems store data on external servers, hence no space for servers is consumed in hospitals. The information can be accessed anywhere and anytime with the help of cloud-based delivery. Nowadays, IS being cost-effective, easy to use and display effective performance. Highly secured, user wise authentication of modules, authentication & verification of entries are additional factors responsible for the segment growth.
Cloud-based radiology information portals allow physicians to control access to confidential information. Cloud services are updated more frequently which helps to comply with the legal and regulatory requirements. The increasing amount of data coupled with the above mentioned factors are expected to command the market for HIS in the forecast period.
By product type, the EHR segment is expected to grow at a faster pace. Electronic Health record is a patient record that makes information available about the patient easily to the authorized user. EHRs contains the patients’ medical history, treatment plans and test reports. It is a major component of HIS which manages and integrates all clinical processes and is expected to contribute to the growth of HIS market in the upcoming years.
Global Hospital Information Systems Market
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Global Hospital Information Systems Market Segmentation
The market is segmented based on-
Product Type
● Electronic medical record (EMR)
● Electronic health record (EHR)
● Laboratory information system
● Cardiology information system
● Radiology information system
● Material management system
● Clinical data repository
● HR and Payroll
Deployment
● Web-based
● cloud-based
● Premise
Component
● Hardware
● Software
● Services
Applications
● Clinical Guidelines
● Clinical reminders
● Drug allergy alerts
● Drug dosing Support
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Global Hospital Information Systems Market Regional insights
Global Hospital Information Systems Market1
North America dominated the Hospital Information systems market in 2020 with a share of 48.2%. Growing research activities, advanced treatment techniques, favourable reimbursement policies, development of novel products are the multiple factors boosting the growth of market in this region. Moreover, the efforts of key players in developing new and efficient information systems is expected to boost the regional demand for the market.
Asia Pacific is the fastest growing market with a CAGR of 11.7%. Owing to the increasing population and rising amputated cases, growing healthcare facilities in developing nations and advanced treatment options, the market in this region is anticipated to grow. Moreover, increasing medical tourism in the region is expected to drive the market.
Key Players Operating the Global Hospital Information Systems Market
● All Scripts Healthcare Solutions, Inc
● Cerner Corporation
● Epic Systems
● Computer Sciences Corporation
● McKesson Corporation
● GE healthcare
● Siemens Healthcare
● Phillips Healthcare
● Agfa-Gevaert N.V
● Practice Fusion, Inc
● Comarch
● Meditech
● CPIS
● Eclipsys
● Carestream health
● Wipro
● Merge Healthcare
● NextGen Healthcare
● Others
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