Healthcare Information Systems Market Forecast, Growth with High CAGR by Forecast 2027

[Priya Raut]

The healthcare information systems market Forecast is likely to grow at a 10.0% CAGR between 2018- 2023, according to the recent Market Research Future (MRFR) report. The healthcare information system, simply put, is a computer-aided system that helps to organize, store, as well as double-check a patient’s medical information. It has been designed to offer and improve care and clinical quality for every patient every time. In fact, healthcare IT systems have replaced paper charts like doctor’s dictation and notes, prescriptions, and patient health history and all other types of information related to the patient in the likes of electronically preserved data. Patient safety is also boosting the healthcare clinical analytics market growth.

Various factors are adding to the global healthcare information systems market share. These factors, as per the new MRFR report, include increasing use of digital healthcare infrastructure, increasing adoption of advanced technologies in healthcare facilities, increasing geriatric population, the rising prevalence of coronary heart disease and cancer, and the rising cost of healthcare.

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Market Segmentation

The MRFR report provides an inclusive segmental analysis of the global healthcare information systems market based on end user, type, deployment, and components.

Based on type, the healthcare information systems market has been segmented into laboratory information systems, revenue cycle management, hospital information systems, medical imaging information system, pharmacy information systems, and others. Hospital information systems segment is further segmented into patient engagement solutions, population health management, real-time healthcare, electronic medical record, electronic health record, & others. Pharmacy information systems are further segmented into prescription management, inventory management, automated dispensing systems, & others. Medical imaging information system is further segmented into monitoring analysis software, picture archiving and communication systems, radiology information systems, & others. Among these, hospital information systems will lead the market over the forecast period.

Based on components, the healthcare information systems market has been segmented into hardware & software.

Based on deployment, the global healthcare information systems market has been segmented into on-premise, cloud-based, and web-based. Among these, the web-based segment will dominate the market over the forecast period.

Based on end user, the global healthcare information systems market has been segmented into academic & research institutions, diagnostic center, hospitals, and others. Among these, hospitals will spearhead the market over the forecast period.

Regional Analysis

Based on the region, the global healthcare information systems market covers the recent trends and growth opportunities across Europe, the Asia Pacific (APAC), the Americas, and the Middle East &
Africa (MEA). Among these, the Americas will dominate the market over the forecast period. Factors adding market growth include large-scale implementation and also storage of electronic records in the healthcare system coupled with the burgeoning demand for superior quality diagnostics systems. The US & Canada are the major contributors in the region.

The global healthcare information systems market in Europe is predicted to have the second-largest share during the forecast period. The presence of developed economies in the region, the rising awareness, and the presence of well-established healthcare infrastructure are adding market growth.

The global healthcare information systems market in the APAC region is predicted to grow at a quick rate over the forecast period for the region having a massive healthcare IT market share. China & India are the chief contributors in this region, followed by South Korea. The government in such developing economies is taking ample efforts to improve the healthcare services and offering better infrastructure, which again is adding market growth in the region.

The global healthcare information systems market in the MEA will have the smallest share over the forecast period for a low per capita income and the presence of poor economies in the African region. The Middle East is likely to have a favorable share for the presence of developed economies such as Dubai, Kuwait, the UAE, and others and increasing funds for the healthcare sector from the government.

Key Players

Eminent players profiled in the global healthcare information systems market report include Medidata Solutions Inc.,Siemens Healthineers, Philips Healthcare, NextGen Healthcare, McKesson Corporation, Cerner Corporation GE Healthcare, Carestream Health, Athenahealth Inc., Allscripts Healthcare Solutions Inc., and Agfa-Gevaert N.V.

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