Analysts at Persistence Market Research (PMR) recently conducted a study on the global market for healthcare information systems and assessed market opportunities, trends, restrains and growth factors, also examining market patterns in key regions.
In 2013, the healthcare information systems market stood at USD 35.2 billion globally, PMR study reveals. By 2019, the market is set to grow up to 53.2 billion, riding on a CAGR of 7.1% during the forecast period (2013-2019).
“Growing geriatric population and higher healthcare expenditure are playing a crucial role in driving the demand for healthcare information systems. This, in turn, will accelerate the growth of the overall market.” — PMR
Some of the major factors expected to positively influence the global market for healthcare information systems include growing investment to develop healthcare IT further, soaring demand for integrated healthcare systems and favorable government policies. On the flipside, lack of skilled resources, an additional cost of maintenance, interoperability issues and post-processing expenditures may pose challenges to the market growth.
Robust adoption of computerized processes having higher efficiency as compared to conventional systems has been observed as a key trend governing the global market for healthcare information systems. In addition, integration of cloud and wireless technology in healthcare information systems making them more patient-centric and usage of mobile devices are some of the other important trends expected to shape the market in the near future.
Rinsing adoption of electronic health record and growing emphasis on deeper market penetration is expected to gain leading players higher revenues.
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Regional Market Analysis
On the basis of region, the market in North America will continue to hold the top stop throughout the forecast period. Whereas, Europe will emerge as the second largest market for healthcare information systems. Asia is expected to witness the highest growth of the market owing to the growing demand for healthcare information systems, in countries such as India and China. Moreover, the region’s expanding pool of the elderly population, surging incidence rate of various chronic ailments such as, cancer, chronic pain and diabetes are likely to support the market growth of healthcare information systems in Asia.
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Highlights: Key Market Segment
• Based on application, laboratory information system is expected to emerge as the largest segment of the market over 2019. The segment is projected to expand at over 7.7% CAGR between 2013 and 2019.
• Based on delivery mode, the global market for healthcare information systems in segment into cloud-based, web based, and on-premise.
• On the basis of components: the market is segmented into hardware, services and software.
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Key stakeholder in the global market for healthcare information systems includes Philips Healthcare, GE Healthcare, Nextgen Healthcare Information System Inc., McKesson Corporation and GE Healthcare. Most of these companies are actively focusing on improving market presence and increase their product portfolio.
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