Rapid urbanization and modernization, advent of technologies like cloud computing services, task management software, data analytics, efficient monitoring, evaluation services, and extensive research and development are factors driving Health Information Systems (HIS) market growth
Market Size – USD 107.13 Billion in 2019
Market Growth – CAGR of 7.9%
Market Trends – Technological advancements in the field of healthcare
The Health Information Systems (HIS) Market was valued at USD 107.13 billion in the year 2019 and is estimated to reach USD 196.69 billion by 2027, rising at a CAGR of 7.9% in the forecast duration. A health information system is mainly designed to control and manage data associated with healthcare. Such systems aid in improving the efficiency, safety, and quality of healthcare. The health care system has helped in curing diseases, improving well-being as well as the quality of lives, and extending lives. With the help of protected health information systems and rapid advancements in making confidential health information, health care is further getting benefitted. Such advancements in healthcare have ensured high quality, safer, efficient & coordinated, and affordable patient care. A few existing tools are developed by using health information technology for enhancing patient services and evaluating their health.
The market is gaining traction, owing to improvements in healthcare services globally. Rapid AI and IoT incorporation are bringing innovation in the healthcare information system. Additionally, many non-profit organizations and governments are collaborating for improving the capital scenario and developing the healthcare systems, allowing medical professionals to keep track of patients’ health information. All these factors are highly influencing growth in the market. Furthermore, growing awareness among the population about self-operated health care instruments, equipment, and smart wearable devices, is also supplementing the growth of the industry.
The robust market growth is hampered because of the unavailability of skilled healthcare professionals and multiple data security challenges faced by the healthcare sector. The healthcare information system has been crucial and convenient for service providers as well as patients. After initial investments in the software and various other technologies, healthcare information systems have brought down the overall healthcare costs drastically. Constant R&D activities funded by both government and private agencies and renowned players’ foreign investments are also propelling the growth of the industry. However, healthcare adoption and associated benefits are not distributed uniformly, whereas the certainty of fruitful outcomes has also become difficult. Therefore, it is crucial to enhance the cost, quality, capacity, and efficiency of the healthcare service for meeting patients’ unmet demand.
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Further key findings from the report suggest
- The Asia Pacific market is projected to grow with a CAGR of 5%, followed by the regions of North America and Europe, with CAGRs of 8.0% and 7.7%, respectively. Owing to the surging demand as well as awareness regarding the easy accessibility of the healthcare service-enhancing software is accelerating the industry’s growth in these regions.
- Favorable private agencies’ and governments’ funding scenario worldwide towards the improvement of healthcare facilities in several countries is another factor promoting further growth of the market.
- Robust growth in the services related to cloud computing towards enhancing distinct security issues and developing safe and secure cloud networks is spurring the market growth.
- The growing number of advanced health-oriented wearable devices because of the rising awareness among the population towards self-health care is boosting the market growth.
- Medical professionals and practitioners are often opposed to adopting new eHealth systems as well as other healthcare-related software. A technologically-advanced skill force is key for successful eHealth products delivery. Therefore, developing countries need to make high investments into the healthcare workforce training programs in order to get successful end service delivery.
- Key players include Carestream Health, GE Healthcare, Siemens Healthineers, McKesson Corporation, Allscripts, Philips Healthcare, Agfa Gevaert, Merge Healthcare (IBM), NextGen Healthcare Information Systems, and Neusoft.
Click on the Link to Read Key Highlights of the Report and Look at Projected Trends for Years to Come: https://www.reportsanddata.com/press-release/global-health-information-systems-market
For the purpose of this report, Reports and Data has segmented the Health Information Systems (HIS) market on the basis of product type, deployment type, application type, end-use, and region:
By Product Type (Revenue, USD Million, 2017 – 2027)
- Software and Systems
By Deployment Type (Revenue, USD Million, 2017 – 2027)
- Shared hosting/Mass hosting/Virtual hosting
- Dedicated hosting
- Root server hosting
- Reseller hosting
By Application (Revenue, USD Million; 2017–2027)
- Electronic health record
- Electronic medical record
- Real-time healthcare
- Patient engagement solution
- Population health management
- Prescription management
- Automated dispensing systems
- Inventory management
- Revenue Cycle Management
- Medical Imaging
- Monitoring analysis software
- Picture archiving and communication systems
By End-Use Type (Revenue, USD Million, 2017 – 2027)
- Diagnostic Centres
- Academic and Research Institutes
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
To Identify the Key Trends in the Industry, Click on the Link Below: https://www.reportsanddata.com/report-detail/health-information-systems-market
Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Rapid urbanization and digitization improving healthcare services around the globe.
3.2. Extensive research and development promoted by governments and companies.
Chapter 4. Health Information Systems (HIS) Segmentation & Impact Analysis
4.1. Health Information Systems (HIS) Segmentation Analysis
4.2. Health Information Systems (HIS) Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Health Information Systems (HIS) Market Impact Analysis
4.4.1. Market driver analysis
126.96.36.199. Advent of technologies like cloud computing, task management software and analytics.
188.8.131.52. Efficient monitoring and evaluation services.
4.4.2. Market restraint analysis
184.108.40.206. Shortage of skilled professionals required for operating these systems.
220.127.116.11. Challenges related to data security while availing cloud computing services.
4.5. Key opportunities prioritized
4.6. Health Information Systems (HIS) Pricing Analysis
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