Healthcare Information Systems Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025– Increasing Technological Advancement Coupled with Rising Healthcare Spending is the Key Factors Driving for the Growth of Healthcare Information Systems Market
Healthcare Information Systems Market is valued at USD 107,465 Million in 2018 and expected to reach USD 170,320 Million by 2025 with the CAGR of 6.8% over the forecast period.
The market growth is driven by the increasing adoption rate for advanced technologies in healthcare facilities. The advancement in the digital healthcare infrastructure which helps in managing and collecting information generated by hospitals, institutes, and clinics has boosted the competence and efficiency of the provided services. Likewise, the increasing number of patients with chronic diseases and increasing demand for cloud-based systems for the management of the data are anticipated to boost the growth of the market. Additionally, possible IT healthcare applications opportunities like reduction in the operating costs sustained coupled with data record maintenance and meeting regulatory privacy standards and management of well-organized hospital workflow are some of the factors propelling the market growth.
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Increasing radiology information systems demand for the diagnostic procedures has urged the global healthcare information systems market. The sophisticated system database allows healthcare professionals to track the large image files produced in the course of the treatment and diagnosis. The advantage of installing these systems in the several healthcare facilities includes cost reduction in the management of inventory and low errors rate during the treatment. A large number of medical facilities are adopting computer-based data tracking solution from paper-based methods which is fast, and effective as well as there is a low chance of errors. This healthcare information system is very helpful in keeping a track for large databases.
Healthcare information systems market report is segmented on the basis of delivery mode, function, end-user, and region & country level. Based upon delivery mode, healthcare information systems market is classified into on-premise, web based, and cloud based. On the basis application, the market is classified into hospital information systems, pharmacy information systems, picture archiving and communication system, radiology information systems, and monitoring analysis software. On the basis of end-user, the market is classified into hospitals, diagnostic laboratories, office-based stetting, academic and research centers, Ambulatory surgical centers and others.
The regions covered in this healthcare information systems market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Healthcare Information Systems is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Healthcare Information Systems Market Report-
The major players operating in the healthcare information systems market are McKesson Corporation, Athenahealth, Inc., Cerner Corporation, Medidata Solutions Inc., Allscripts, GE Healthcare, NextGen Healthcare, Siemens Healthineers, and Others.
Pittsburgh Health Data Alliance Teams with AWS for New Machine Learning Use Cases
On 7th August 2019, The Pittsburgh Health Data Alliance is working with Amazon Web Services which includes researchers from the University of Pittsburgh and Carnegie Mellon University. This research is to bring innovation in fields like voice-enabled AI, imaging, oncology, and precision medicine. Amazon Web Services is assisting scientists in their research and commercialization efforts through a machine learning-focused research sponsorship. David Vorp, the Pitt researcher is using Amazon Web Services technology to improve the treatment and diagnosis of abdominal aortic aneurysms. Currently, clinicians are able to use only the basic growth rate and aneurysm’s diameter to forecast the rupture risk. David Vorp and his team are working on the development of an algorithm which will provide healthcare professionals with an objective, and providing a predictive tool to support surgical interventions and to improving patient outcomes.
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Increasing Demand for Health Insurance and Growing Adoption Rate are expected drive the Growth of this Market
Increasing demand for cloud-based applications in healthcare facilities is anticipated to impel the growth of the market. Presently, the companies are more focusing on the development of high convenience services which will deliver personalized care. These advancements are expected to increase the adoption rate for hospital information systems which will improve the healthcare IT infrastructure, and reduce the incompetence in delivering service to the patients. Moreover, rising geriatric population coupled with increasing healthcare cost and growing certain fatal diseases prevalence are expected to boost the healthcare information systems market growth. Several organizations and medical facilities are adopting healthcare information systems to fulfill the growing healthcare needs but in a cost-effective way. However, lack of skilled and well-trained professionals; high service and maintenance cost and interoperability issues are expected to restrain the growth of the healthcare information systems market.
North America is the most Prominent Market for the Healthcare Information Systems
Geographically, Healthcare Information Systems market report is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is expected to dominate the market owing to rising government initiative to implement the healthcare IT services in the healthcare sector. Additionally, an increasing number of chronic diseases and rising healthcare expenditure is expected to boost the market in the region. Europe is the second-largest market. This is because of increasing patient pool and employment of these systems in various public and private medical facilities. The Asia Pacific market is expected to be the fastest-growing region owing to increasing government initiatives and awareness about available systems.
Key Benefits for Healthcare Information Systems Market Report–
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
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Global Healthcare Information Systems Market Segmentation: –
By Delivery Mode:
- Web based
- Cloud based
- Hospital Information Systems
- Pharmacy Information Systems
- Picture Archiving And Communication System
- Radiology Information Systems
- Monitoring Analysis Software
- Diagnostic Laboratories
- Office-Based Stetting
- Academic And Research Centers
By Regional & Country Level:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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