Global Hospital Information System Market
Overview:
A hospital information system is an important part of health informatics which primarily focusses on the administrative requirements of hospitals. The system is manage all healthcare data and also overcomes any major challenges occurring in the industry. The HIS manages patient information in a centralized manner by predicting the health status in a hospital and also by electronic data processing. These are a set of applications which are designed in order to manage healthcare data. On the other hand hospital information system plays an important role in digitalizing all operations carried out in a hospital.
The global hospital information system market is forecast to be valued at US$ 39,696.3 Million in 2020 and is estimated to reach a value of US$ 75,824.7 Million over the forecast period.
North America is estimated to witness a significant growth in the global hospital information system market over the forecast period, it is estimated to account for 40.5% share in terms of volume and it is followed by Europe and Asia Pacific, respectively.
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Market Drivers:
Increasing government initiatives and rising adoption of advanced healthcare solutions is estimated to propel growth of the global hospital information system market over the forecast period. For instance, Ministry of Health and Family Welfare, in India declared the launch of a Health Management Information System in June 2019 in five states of India, Karnataka, Uttar Pradesh, Punjab, Tripura and Chandigarh.
Rise in the implementation of healthcare IT solutions around the globe, this is estimated to augment growth of the global hospital information system market over the forecast period. For instance, the Healthcare Information and Management Systems Society witnessed an increase in adoption over the past few years, remote monitoring services also witnessed an increased in adoption from 13% in 2016 to 22% in 2019.
Market Restraints:
- Lack of proper IT infrastructure in developing regions is expected to hamper growth of the global hospital information system market. IT infrastructure improves the safety, effectiveness, access, timeliness, patient-centeredness, and efficiency. Poor IT infrastructure may contribute to poor quality of care and outcomes, particularly among vulnerable population groups.
- Unavailability of proper IT infrastructure in developing areas is estimated to hamper growth of the global hospital information system market over the forecast period.
- Data security and privacy concerns are also expected to hinder growth of the global hospital information system market. According to the major healthcare data breaches reported over the years, the most common threats to data privacy and security include unauthorised access, data theft, data loss, hacking IT incidents, improper disposal of data, and more.
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Market Opportunities:
- COVID-19 outbreak is anticipated to witness robust growth in the global hospital information system market. For instance, the National Center for Biotechnology Information wanted health information systems to identify, store, collect transmit and manage data related to COVID-19.
- Increasing patient pool around the world is estimated to offer productive growth opportunities for key players in the global hospital information system market over the forecast period. For instance, the World Health Organization mentioned that almost 7 and 8.4 million deaths were caused due to poor health quality care every year, especially in middle and low income nations, this account for 15% of overall deaths in these countries.
Key Takeaways:
- Rising developments in healthcare infrastructure is estimated to fuel growth of the global hospital information system market over the forecast period. For instance, the Government of Delhi has approved a project worth INR 13.9 billion in August 2021. This project will set up health information management system which will be cloud-based and this system will be present across all their hospital.
- Launch of new products by key players is estimated to propel growth of the global hospital information system market. For instance, Cerner Corporation and CoverMyMeds collaborated in January 2019, for integrating patient-specific information in the electronic health record (HER), this will help healthcare providers in viewing pricing information at point-of-care
Key Players:
Key players active in the global hospital information system market are Allscripts Healthcare Solutions Inc., Integrated Medical Systems, McKesson Corporation, Wipro Limited, Dedalus S.p.A, Epic Systems Corporation, Koninklijke Philips NV, Allscripts Healthcare Solutions Inc., McKesson Corporation, Cerner Corporation and General Electric Company.
Recent Developments:
Royal Philips declared that they have signed an agreement for acquiring Capsule Technologies, Inc., in January 2021, for transforming the delivery of care in the health continuum with integrated solutions. The current portfolio of the company already consists of real-time therapeutic devices, interoperability solutions, patient monitoring and telehealth, informatics.
Allscripts Healthcare Solutions launched Sunrise 20.0, a healthcare platform connecting all aspects of care like surgical, radiology, laboratory services, acute and pharmacy in December 2020.
Cerner Corporation declared the successful deployment of the modern electronic health record in October 2020, at Mann-Grandstaff VA Medical Center in Spokane. This milestone will help in improving and also help in exchange of information between federal governments.
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Hospital Information System, By SEGMENT1
- Market Hospital Information System, By SEGMENT2
- Market Hospital Information System, By SEGMENT3
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Implementation of healthcare IT solutions
- Poor healthcare infrastructure
- Outbreak of COVID-19 (pandemic)
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Hospital Information System Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Hospital Information System Market, By Mode of Delivery, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Cloud-Based
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- On-Premise
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
- Hospital Information System Market, By Type, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 – 2028
- Segment Trends
- Clinical Information Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Administrative Information Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Electronic Medical Records
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Laboratory Information System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Radiology Information system
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Pharmacy Information System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
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