The Hospital Information System Market is expected to foresee significant growth. North America to lead the growth!
The Hospital Information System Market is expected to witness a CAGR of around 10% during the forecast period. The hospital information system (HIS) is highly used to maintain, monitor, and manage the data that are related to the record of the patients and employees of the hospital to reduce errors and is also practiced maintaining Electronic Medical Records (EMR) and Electronic Health Records (EHR). Moreover, there are several market players who are developing advanced technology to boost the healthcare sector. These all factors will drive the growth of the market during the forecast period. For instance, in July 2020, Cerner Corporation introduced a cloud-based EHR system. The launch is aimed at assisting rural and critical access hospitals through the availability of cost-effective EHR systems, thereby augmenting their client base
During the COVID-19 pandemic, the hospital information system takes sharp growth as there was a limitation imposed by the government on free movement and travel, shut down of the manufacturing unit, and limitations on the medical services contributed to adopting the teleconsultation and bringing the upliftment of information technology in healthcare centers. Furthermore, the healthcare facilities were only treating emergency cases and postpended the inessential appointments.
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Based on application, the market has been categorized into electronic healthcare records, clinical information systems, administrative information systems, pharmacy information systems, and others. Amongst these, the electronic healthcare records (EHR) category is expected to witness significant growth during the forecast period. This is mainly due to the higher adoption rate as compared to other information technology systems. Moreover, clinical data storage, and rising the overall number of clinical trials, to increase safety & efficacy are the major factors for the growth of this market during the forecast period. For instance, in June 2019, according to the Office of The National Coordinator for Health Information Technology (ONC), around 94% of HER providers reported that their EHRs make the records readily available
Based on delivery mode, the market has been segmented into web & cloud-based, and on-premises. Among them, the web & cloud-based segment is expected to have the fastest growth rate in the market mainly due to web & cloud-based information systems helping to store the massive amount of data securely. Furthermore, government initiatives and technological advancements by several market players are also contributing to the growth of this market during the forecast period. For instance, in February 2022, IBM (U.S.) acquired Neudesic LLC (U.S.) which was aimed at expanding IBM’s portfolio of hybrid multi-cloud services and further advance the company’s hybrid cloud and AI strategy
For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. North America holds a lucrative market share owing to favorable government policies and the rising hospital administration, higher per capita income, and availability of major key players in the region are attributed to the growth of the market in the region. Furthermore, continuously increasing government expenditure in the region is responsible for the growth of the market. For instance, according to the Centers for Medicare & Medicaid Services (CMS), U.S. health care spending grew 9.7 percent in 2020, reaching $4.1 trillion or $12,530 per person.
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Some of the major players operating in the market include Allscripts Healthcare Solutions Inc., Cerner Corporation, Carestream Health, Merge Healthcare Inc., NXGN Management LLC, GE Healthcare, Siemens Healthineers AG, Wipro Limited, McKesson Corporation, Koninklijke Philips N.V.
Hospital Information System Market Segmentation
Market Insight, By Application
Market Insight, By Delivery Mode
Market Insight, By Region
- North America
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
• Allscripts Healthcare Solutions Inc.
• Cerner Corporation
• Carestream Health
• Merge Healthcare Inc.
• NXGN Management LLC
• GE Healthcare
• Siemens Healthineers AG
• Wipro Limited
• McKesson Corporation
• Koninklijke Philips N.V.