According to the latest report by IMARC Group, titled "Hospital Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global hospital information system market size grew at a CAGR of around 12% during 2014-2019. The hospital information system (HIS) is a digitally integrated, comprehensive information system that is widely used to manage healthcare data efficiently. It is designed to streamline numerous aspects of a hospital's operation, including legal, medical, administrative and financial segments. It utilizes multiple advanced tools, such as electronic medical records (EMR), laboratory information systems, computerized physicians order entry, pharmacy information systems and radiology information systems, to electronically preserve data and reduce manual errors while avoiding poor delivery of care and regulatory actions. Its utilization also ensures improved delivery of quality patient care and financial management by achieving enhanced operational efficiencies through data analytics and collaborative care.
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 Hospital Information System Market Trends:
The market is primarily driven by increasing automation across the global healthcare sector. The growing volumes of healthcare data have impelled hospitals to adopt technologically upgraded automation systems, such as HIS, to manage administrative issues and deliver superior patient care. HIS is also deployed in the sector for ensuring efficient workflow and facilitating enhanced storage management by streamlining various processes. Apart from this, market players are integrating advanced technologies with these systems to provide improved revenues with new services and offerings. For instance, HIS is widely being equipped with eHealth platforms, Picture Archiving and Communication System (PACS), and software-as-a-service (SaaS), which is constantly gaining preference among end users. The market is further driven by the increasing private and public investments for extensive research and development (R&D) activities in the healthcare information technology (IT) sector, thereby creating a positive outlook for the market. Furthermore, a significant increase in the number of the coronavirus disease (COVID-19) cases across the globe has led to the introduction of virtual care systems for remote patient monitoring and telemedicine services, which has facilitated the uptake of HIS. On account of the aforementioned factors, the market is expected to exhibit strong growth during 2020-2025.
- On the basis of the component, the market has been divided into hardware, software and services.
- Based on the deployment type, the market has been classified into on-premises, web-based and cloud-based.
- On the basis of the system type, the market has been categorized into the clinical information system, administrative information system, electronic medical record, laboratory information system, radiology information system, pharmacy information system and others.
- Based on the end user, the market has been segmented into hospitals, insurance companies and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Agfa-Gevaert Group (Dedalus Holding S.p.A.), Allscripts Healthcare, LLC, Koninklijke Philips N.V., Cerner Corporation, Comarch SA., Computer Programs and Systems, Inc., Compass Group PLC, Cytiva, McKesson Corporation, Medical Information Technology, Inc., NextGen Healthcare, Inc., and Wipro Limited.
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