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2021
Hospital Information System Market

Hospital Information System Market

by Application (Clinical Information System, Administrative Information System, Electronic Medical record, Laboratory Information System, Radiology Information System, Pharmacy Information System and Others), Component (Services and Software), and Delivery Mode (Web and Cloud-based & On-Premise Deployment): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A05263
Pages: 229
Sep 2021 | 6232 Views
Author(s) : Smita Nerkar , Onkar Sumant
Tables: 127
Charts: 43
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COVID-19

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The global hospital information system market was valued at $ 15,482.30 Million in 2020 and is projected to reach $ 44,329.80 Million by 2030 registering a CAGR of 11.00% from 2021 to 2030. A hospital information system is the information management system that is used in hospitals. Hospitals continuously generate huge amount of data which needs to be managed to ensure efficient functioning. Patients visit such establishments for outpatient care, during an emergency, or get admitted for either a short stay or for long duration. 

The important modules of a hospital information system is to deal with revenue management aspects. Furthermore, the recent trend sees a growing importance on improving overall efficiency and clinical management. Although some modules are required by all clinical establishments, requirement for others depends on the size and specialties covered by an establishment. In addition, increase in investments in medical policies are driving hospitals to adopt effective and safe hospital information system to sustain the consistency of healthcare procedures. These software monitor, control and integrate all the activities that improves staff efficiency, minimize procedure duplication and data theft. The hospital information systems are automated and contain clinical data about patients that facilitates the success rate of treatment and procedures. These systems are very useful in ICUs to efficiently manage patient data and thus, high adoption of these systems in hospitals is expected to prove beneficial for the hospital information system market growth.

Hospital-Information-System-Market--2021-2030

Surge in adoption of advanced technologies in healthcare facilities and growing usage of digital healthcare infrastructure, which helps in collecting and managing information generated by hospitals, clinics, and institutes, has enhanced efficiency and effectiveness of their services which will further drive the market growth. Furthermore, increase in number of patients suffering from chronic diseases and rising demand for cloud-based systems are expected to boost the market during the forecast period. Though, the rise in concerns for data privacy and cyber security and lack of adequate IT infrastructure in developing regions will further hamper the market growth.

The outbreak of COVID-19 has disrupted workflows in the healthcare sector across the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of healthcare. Moreover, there has also been a positive effect on various healthcare services, including the including hospital information system market. The ‘digital front door’ is really a key to how providers should be responding to the COVID-19 situation in terms of access, triage, and even treatment. With surge in demand for hospital capacity, one of the challenges faced by hospital IT staffers is figuring out how to quickly deploy EHR systems to alternative care locations. 

Furthermore, the healthcare facilities such as hospitals, diagnostic centers, and clinics, are showing interest toward clinical decision support systems, electronic health records (EHRs) and other systems in minimizing medication prescription errors, adverse drug events monitoring and other medical errors. Furthermore, COVID-19 is acting as a key factor for a sharp uptake of teleconsultations. The restrictions on free movement and travel, the limitation of medical services to emergency situations, and the overall increase in suspected and confirmed COVID-19 infections have contributed to the recent surge in teleconsultation platforms.

Hospital Information System Market
By Application

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Laboratory Information System application segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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Hospital Information System Market Segmentation  

The hospital information system market is segmented on the basis of application, component, delivery model and region. Based on application, the market is divided into clinical information system, administrative information system, electronic medical record, laboratory information system, radiology information system, pharmacy information system. Based on component, the market is categorized into services and software. Based on delivery model, the market is classified into web and cloud-based and on-premise. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment Review

Based on delivery, cloud-based technology dominated the overall market in 2020.and the segment is anticipated to continue the dominance over the forecast period with a CAGR of 11.30%, owing to increase in use of cloud systems include cost considerations, data storage capacity, and remote access to information. The cloud-based technology is gaining momentum due to numerous security lapses in the web-based and on-premise systems.

Hospital Information System Market
By Component

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Software segment is projected as one of the most lucrative segment.

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Snapshot of North America Hospital information system market  

North America is projected to account for a major share of the global hospital information system market during the forecast period. The market in the region is anticipated to grow in the future, owing to high acceptance and implementation of IT services specifically in the healthcare sector. Furthermore, the local presence of large players with focus on the development of advanced IT solutions, successful implementation of EHRs in the region, and high deployment of robust IT infrastructure can be attributed to the large share of the region. Furthermore, Asia Pacific is projected to be the fastest-growing market with a CAGR of 11.90% during the forecast period. The emerging economies, such as India and China, are the most lucrative markets due to the rising elderly population, increasing patient pool, and improving healthcare facilities. The increasing awareness about these systems and their growing importance coupled with the supportive government programs and policies is projected to boost the growth. Rapid adoption of digitization in healthcare by the emerging economies is also contributing to the growth.

The key market players profiled in the report include Allscripts Healthcare, LLC (Practice Fusion), Cerner Corporation, Dedalus S.p.A. (DXC Technology), GE Healthcare, Integrated Medical Systems, Inc., Koninklijke Philips N.V. (Carestream Health), McKesson Corporation, NXGN Management, LLC (NextGen Healthcare, Inc.), Siemens Healthineers AG and Wipro Limited.

Hospital Information System Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific region would exhibit the highest CAGR of 11.90% during 2021-2030.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the global hospital information system market along with the current trends and future estimations to elucidate the imminent investment pockets.
  • A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
  • Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the key segments of the industry helps to understand the application and products the market used across the globe.
  • Key market players and their strategies have been analyzed to understand the competitive outlook of the market.

Key Market Segments

By Application

  • Clinical Information System 
  • Administrative Information System
  • Electronic Medical Record 
  • Laboratory Information System
  • Radiology Information System
  • Pharmacy Information System
  • Others 

By Component

  • Software
  • Services

By Delivery Mode

  • Web and Cloud-based
  • On-premise 

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China 
    • Australia
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

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Hospital information system market growth includes increase in adoption of advanced technologies in healthcare facilities, rising usage of digital healthcare infrastructure, which helps in collecting and managing information generated by hospitals, clinics, and institutes, has enhanced efficiency and effectiveness of their services which will further drive the market growth. Additionally, surge in number of patients suffering from chronic diseases and rising demand for cloud-based systems are expected to boost the market in the forecast period. Though, the rise in concerns for data privacy and cyber security and lack of adequate IT infrastructure in developing regions will further hamper the market growth.

Furthermore, North America hospital information system projected to have a significant market share among the regions. The growth is attributed due to favorable government policies, well-established healthcare infrastructure and rapid digitalization in the healthcare system.

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of Hospital Information system market is $15,482.3 million in 2020.

A. The forcast period for Hospital Information system market is 2021 to 2030

A. The market value of Hospital Information system market in 2021 is $17,278.2 million.

A. The base year is 2020 in Hospital Information system market

A. Top companies such as Allscripts Healthcare, LLC (Practice Fusion), Cerner Corporation, Dedalus S.p.A. (DXC Technology), GE Healthcare, Integrated Medical Systems, Inc., Koninklijke Philips N.V. (Carestream Health), McKesson Corporation, NXGN Management, LLC (NextGen Healthcare, Inc.), Siemens Healthineers AG and Wipro Limited held a high market position in 2020.

A. Based on delivery, cloud-based technology dominated the overall market in 2020, owing to increase in use of cloud systems include cost considerations, data storage capacity, and remote access to information. The cloud-based technology is gaining momentum due to numerous security lapses in the web-based and on-premise systems.

A. Surge in adoption of advanced technologies in healthcare facilities and growing usage of digital healthcare infrastructure, which helps in collecting and managing information generated by hospitals, clinics, and institutes, has enhanced efficiency and effectiveness of their services which will further drive the market growth. Furthermore, increase in number of patients suffering from chronic diseases and rising demand for cloud-based systems are expected to boost the market during the forecast period

A. North America is projected to account for a major share of the global hospital information system market during the forecast period. The market in the region is anticipated to grow in the future, owing to high acceptance and implementation of IT services specifically in the healthcare sector. Furthermore, the local presence of large players with focus on the development of advanced IT solutions, successful implementation of EHRs in the region, and high deployment of robust IT infrastructure can be attributed to the large share of the region.

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