Overview and Scope
A healthcare information system (HIS) is a digital platform that oversees healthcare data. It encompasses various subsystems responsible for gathering, storing, handling, and transmitting patients’ electronic medical records (EMR), managing the operational aspects of hospitals, or facilitating the decision-making process related to healthcare policies.
Sizing and Forecast
The healthcare information system market size has grown rapidly in recent years. It will grow from $379.98 billion in 2023 to $423.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to government initiatives and regulations, rising healthcare costs, interoperability requirements, patient-centric care, data security and privacy concerns.
The healthcare information system market size is expected to see rapid growth in the next few years. It will grow to $643.82 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to artificial intelligence and analytics integration, value-based care models, population health management, global health initiatives, pandemic preparedness. Major trends in the forecast period include patient engagement technologies, telehealth and remote patient monitoring, advancements in technology, digital transformation in healthcare, blockchain for data security.
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Segmentation & Regional Insights
The healthcare information system market covered in this report is segmented –
1) By Component: Hardware, Software And Systems, Services
2) By Deployment: Web-based, On-premises, Cloud-based
3) By Application: Hospital Information System, Pharmacy Automation Systems, Laboratory Informatics, Revenue Cycle Management, Medical Imaging Information System
4) By End-Use: Hospitals, Diagnostic Centers, Academic And Research Institutes
North America was the largest region in the healthcare information system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the healthcare information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising prevalence of chronic diseases is expected to propel the growth of the healthcare information system market going forward. Chronic diseases are long-lasting conditions that usually require ongoing medical attention, limit activities of daily living, or both. Healthcare information systems can assist healthcare providers in handling patient data, tracking health results, and enhancing care for patients with chronic illnesses. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized health agency, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases each year globally. Further, cardiovascular diseases accounted for 17.9 million fatalities, while cancer led to 9.3 million deaths in 2022. Therefore, the rising prevalence of chronic diseases is driving the growth of the healthcare information system market.
Key Industry Players
Major companies operating in the healthcare information system market report are McKesson Corporation, Hewlett Packard, Siemens Healthineers, Philips Healthcare, GE Healthcare, 3M Health Care, Wipro Limited, Cerner Corporation, Infor, Epic Systems Corporation, Agfa Gevaert Group, Allscripts Healthcare LLC, Athenahealth Inc., Neusoft Medical Systems Co. Ltd., eClinicalWorks, Carestream Health, Medidata Solutions Inc., NextGen Healthcare, NXGN Management LLC, Osi Systems, Greenway Health LLC, SWORD Health, Ada Health GmbH, Dedalus S.p.A, e-MDs Incorporation, NeuroLogica Corporation, TESCAN, Novarad Corporation, Shenzhen Anke High-tech Co. Ltd., Siilo
The healthcare information system market report table of contents includes:
1. Executive Summary
2. Healthcare Information System Market Characteristics
3. Healthcare Information System Market Trends And Strategies
4. Healthcare Information System Market – Macro Economic Scenario
5. Global Healthcare Information System Market Size and Growth
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32. Global Healthcare Information System Market Competitive Benchmarking
33. Global Healthcare Information System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Healthcare Information System Market
35. Healthcare Information System Market Future Outlook and Potential Analysis
36. Appendix
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