According to the latest report by IMARC Group, titled "Healthcare Information Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global healthcare information software market reached a value of US$ 22.6 Billion in 2021. Healthcare information software (HIS) refers to a platform that is generally used by healthcare professionals for managing medical data. This includes software that is mainly designed for collecting, storing and analyzing patient health information. Along with this, it also utilizes software solutions for handling data that are related to health providers and organizations. Some of the commonly utilized HIS platforms include patient portals, practice management software, master patient index (MPI), remote patient monitoring (RPM) system and clinical decision support (CDS). As a result, HIS aids in improving healthcare data analytics, managing cost control and offering easy access to medical data of patients and medical staff.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Healthcare Information Software Market Trends:
The global market is primarily driven by significant growth in the healthcare industry. Since the healthcare information software provides remote access to patient's health reports and minimizes the risks of misplacement of medical records, this is providing an impetus to the market. Along with this, the increasing investments by private and public firms for upgrading the existing healthcare infrastructure are creating a positive market outlook. Moreover, continual technological advancements and the widespread deployment of modern technologies across the sector are providing a boost to the demand for HIS. In addition to this, the escalating preference for teleconsultation as a consequence of the rapid outbreak of coronavirus disease (COVID-19) has also propelled the market growth. Other factors, including rapid digitization, penetration of high-speed internet connectivity, continuous improvements in the information technology (IT) sector, continual innovations in software solutions, and extensive research and development (R&D) activities conducted by key players, are further positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 31.9 Billion by 2027, exhibiting a CAGR of 5.69% during 2022-2027.
- On the basis of the deployment type, the market has been bifurcated into on-premise and cloud. Currently, on-premises holds the largest market share.
- Based on the application, the market has been classified into hospitals, clinics, medical research centers and others.
- On the basis of the region, the market has been divided into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. Among these, North America holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include GE Healthcare, Siemens Healthcare, 3M Health, McKesson, Philips Healthcare, Agfa Gevaert, Allscripts, Dell, Epic Systems, NextGen Healthcare, Merge Healthcare, Neusoft, InterSystems, Cerner, Carestream Health, and Meditech.
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