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Hospital Information System Market Research, Development Status, Emerging Technologies, Revenue and Key Findings
The Hospital Information System Market size is expected to reach
USD 106 Billion by 2032 at 6.2% CAGR during the forecast period 2023-2032.
The Hospital Information System (HIS) market continues to witness robust growth,
driven by increasing healthcare digitization, emphasis on patient data
management, and demand for streamlined operations. With the rise of electronic
health records (EHRs) and integrated healthcare systems, HIS adoption is
escalating globally. Market players are innovating with cloud-based solutions,
interoperability features, and mobile applications to enhance accessibility and
efficiency. Emerging markets are witnessing significant adoption due to
infrastructure development and government initiatives. However, challenges like
data security concerns and interoperability issues persist. The HIS market is
poised for expansion, with forecasted growth propelled by technological
advancements and healthcare modernization initiatives worldwide.
The Hospital Information System (HIS) market is witnessing substantial growth driven by the increasing adoption of electronic health record systems (EHR) across healthcare facilities worldwide. As healthcare organizations strive for efficiency, accuracy, and seamless patient care delivery, the integration of electronic health record systems has become paramount.
Electronic health record systems revolutionize healthcare delivery by digitizing patient information, medical histories, treatment plans, and billing processes. They streamline workflows, enhance communication among healthcare providers, and improve patient outcomes. As a result, healthcare institutions are investing significantly in adopting advanced HIS solutions equipped with robust electronic health record functionalities.
The electronic health record (EHR) system segment within the Hospital Information System market has experienced rapid expansion due to its ability to centralize patient data, facilitate real-time access to medical records, and ensure data accuracy and security. With the increasing emphasis on interoperability and data exchange among healthcare systems, EHR systems play a crucial role in enabling seamless information sharing across different healthcare settings.
Healthcare providers recognize the value of electronic health
record systems in optimizing clinical workflows, reducing medical errors, and
enhancing patient engagement. As a result, the Hospital Information System
market continues to witness steady growth, driven by the widespread adoption
and integration of electronic health record solutions into healthcare
infrastructures worldwide.
Regional Analysis
North America currently dominates the market and is
expected to maintain its dominance throughout the forecast period. The rise is
associated to favorable government policies, a well-established healthcare
infrastructure, and healthcare system's growing digitalization. Additionally,
the rising number of COVID-19 cases in North
America is increasing the demand for software that can assess and comprehend
how the current pandemic affects the country more than other countries. For
example, in February 2020 AdventHealth, a US-based health system, installed
Epic Systems' EHR platform throughout its 50 hospital campuses and 1,200-plus
care locations across nine states. This platform will comprise an EHR and a
revenue cycle management system that will be used to manage revenue for
Advent's medical practices, acute care, ambulatory, home health, urgent care,
and hospice facilities.
Asia Pacific is anticipated to grow at the highest CAGR
throughout the projection period. Technological improvements such as eHealth
platforms and cloud computing are contributing significantly to the regional
market growth. Healthcare data is subjected to rigorous regulatory scrutiny to
maintain the information's confidentiality, safe and secure storage, user-level
authorisation, information traceability, and mitigation of other cyber security
concerns.
Europe dominates the hospital information system market,
with Germany and Italy gaining the lion's share, owing to the established
infrastructure, which serves as a growth engine for the business, and the
expanding number of private medical care service providers such as University
Hospital Dusseldorf (Germany) and Grande Ospedale Metropolitano Niguarda
(Italy). The hospital information system market study examines particular
market-impacting factors and regulatory changes affecting the industry's current
and future trends.
Key players
The hospital information system companies are McKesson
Corporation (US), Cerner Corporation (US), athenahealth, Inc. (US), Allscripts
(US), Medidata Solutions Inc. (US), Agfa Gevaert NV (Belgium), GE Healthcare
(US), Siemens Healthineers (Germany), Epic Systems Corporation (US), NextGen
Healthcare (US), Allscripts Healthcare Solutions Inc. (US), Epic Systems
Corporation (US), Greenway Health, LLC (US), Integrated Medical Systems (US),
and Carestream Health (US) among others.
Segmentation
The global hospital
management information system market has been segmented into
component and delivery mode and application. By component, the market has been
segregated into hardware, solutions and services. The solution segment held a
considerable share of the market in 2020. The high demand for improved patient
care, reduced documentation work, and reduced scope for error will augment the
market growth in the assessed period.
Based on application, the global hospital information
system market has been classified as Clinical Information System (CIS),
Administrative Information System (AIS), Electronic Medical Record (EMR),
Laboratory Information System (LIS), Radiology Information System (RIS),
Pharmacy Information System (PIS) and others. The Laboratory Information System
(LIS) held the largest market share in 2020, owing to increasing demand for LIS
in biobanks/biorepositories, need to comply with regulatory standards.
Based on delivery mode, the global hospital information
system market has been classified as web-based, cloud-based, and on-premise
Cloud-based hospital information systems are growing at the highest growth
owing to their advantages, such as user-friendliness, ease of installation, and
ease of use.
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