Transparency Market Research (TMR) has published a new report
titled ‘Healthcare
Information Systems Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2018–2026.’ According to the report, the
global health care information systems market was valued at US$ 227,021.4 Mn in
2017 and is projected to expand at a CAGR of 9.6% from 2018 to 2026. Increase
in government initiatives and increase in adoption of health care IT products
by health care providers are expected to boost the global
health care information systems market from 2018 to 2026. North America is anticipated to dominate
the global market during the forecast period owing rise in collaborations
between companies for technological advancements, increase in government
initiatives, and rise in private and public funding in health care information
technology companies. For instance, in January 2017, Royal Philips and Banner
Health entered into a multi-year partnership to innovate and expand on their
successful joint connected health care programs such as the Intensive
Ambulatory Care (IAC) pilot and Telehealth programs.
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The market in Asia Pacific is expected to expand at a high CAGR
during the forecast period. Expansion of the market is attributed to rise in
incidence rate of chronic diseases, increase in geriatric population, and
increasing government initiatives. For instance, in July 2016, Japan's Ministry
of Economy, Trade, and Industry announced plans to launch a demonstration
project to improve diabetes management through the utilization of IoT and
health information.
Rise in Demand for Technologically Advanced Products to Drive the
Market
Advancements in health care information systems has led to
significant growth of the market in the recent years. Use of health care
information systems in medication management, electronic prescribing, intelligent
wearable technologies to curb lifestyle diseases, and smart robots to automate
repetitive tasks is expected to significantly reduce health care costs and
boost the market. Adoption of IT products and solutions in health care as
encouraged through government initiatives and increase in need to curtail
escalating health care costs are further expected to propel the market during
the forecast period.
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Hospital Information Systems Segment Dominates the Market
The report offers detailed segmentation of the global health care
information systems market based on application, component, deployment,
end-user, and region. In terms of application, the health care information
systems market has been segmented into hospital information systems, pharmacy information
systems, laboratory information systems, medical imaging information system,
and revenue cycle management. The hospital information systems segment has been
further divided into electronic health records, electronic medical records,
real-time health care, patient engagement solutions, population health
management, and others. The pharmacy information systems segment has been
further categorized into prescription management, automated dispensing systems,
inventory management, and others. The medical imaging information systems
segment has been further split into radiology information systems (RIS),
monitoring analysis software, picture archiving & communication systems
(PACS), and others.
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Based on application, the hospital information system segment accounted
for a prominent market share owing to a wide range of application of the
systems, including automation of administrative, financial, and patient care
activities of hospitals; production of extensive management reports and
operational statistics; and a powerful query module. In addition, these systems
provide benefits such as easy access to patient data, reduce scope of error,
increase security, provide better cost control, and improve efficiency. This is
likely to drive the segment during the forecast period. However, high
implementation and maintenance cost present a constraint to the market. Based
on deployment, the health care information systems market has been segmented
into web based, on premise and cloud based. Based on component, the health care
information systems market has been segmented into software, hardware and
services. Based on end user the market is segmented into hospitals, diagnostics
centre, academic and research institution and others.
Significant Incremental Opportunity in the North America
Based on region, the market has been categorized into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America held a significant market share of the global health care
information systems market in terms of revenue in 2017 due to high adoption of
health care information systems in public and private hospitals, introduction
of health care reforms, and technological advancements. In addition, government
initiatives to promote usage of health care information systems in these
regions are further anticipated to drive the market in the coming years. Europe
accounted for a key share in the health care information systems market in
2017, in terms of revenue. Factors attributed to the expansion of the market in
Europe are rise in patient population, advancement in diagnostic techniques,
and increased adoption of health care information systems in various government
organizations. The market in Asia Pacific is expected to expand at a prominent
CAGR during the forecast period. Emerging markets in Asia Pacific hold immense
expansion potential due to factors such as rise in prevalence of chronic
diseases, increase in government initiatives, and increase in health care
infrastructure. Moreover, adoption of new and sophisticated technologies,
advances in diagnostic technologies, and increase in partnership of government
with private players and clinical laboratories are likely to propel the market
in the coming years.
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Market players operating in the health care information systems
market include McKesson Corporation, GE Healthcare, Siemens Healthineers, Epic
Systems Corporation, Allscripts Health Care Solutions, Inc., athenahealth,
Inc., Agfa-Gevaert N.V., Cerner Corporation, NextGen Health Care Information
Systems, LLC, and Medidata Solutions, Inc
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