Hospital Information System Market size was accounted at USD 22.34 billion in 2020 and is anticipated to grow at a CAGR of 11.0% during the forecast period.Hospital information system is a software which helps to store, monitor and manage data of hospital related operations such as administration, finance, planning and documentation. Due to increase in patient flow to the hospitals, the management is getting complex such as maintaining huge amount of patient data collected which will further negatively influence the healthcare delivery. For managing the increased volume of patient data, it requires more time, effort, manpower, and money. Implementation of hospital information system helps to increase the efficiency of data, reduces time consumption for storing and collection of data benefiting in quick service to patients leading in patient satisfaction. Furthermore, intradepartmental access and data presentation helps in quality maintenance, management decision making, efficient management of operating guidelines, and patient satisfaction. In addition to this, increase in chronic diseases and rise in demand of cloud computing systems are expected to positively impact the market growth in the upcoming years.
Market Segmentation:
Global hospital information system market is segmented into product, application, deployment and region. Based on product, the market is classified into EMR, EHR, laboratory information system, radiology information system, and others. Based on application, the market is segmented radiology, pharmacy, human resources, finance, quality, drug allergy alerts, and inventory management, and others. Based on deployment the market is characterized into web based, cloud based, and on premises. Based on region, the hospital information system market is segmented into North America, Europe, Asia Pacific, and RoW.
Market Dynamics and Factors:
Some of the key driving factors of hospital information system market are various initiatives taken by government, private and public healthcare sectors such as primary, secondary and territory healthcare centers, WHO, central government healthcare schemes and among others are contributing towards the market growth in forecast period. In addition to this, evolving healthcare facilities such as hospital information system, electronic data record, increased patient care, quality management and medication errors are driving healthcare towards safe and efficient hospital services. Furthermore, growing demand in healthcare IT sector have given rise to potential opportunities in the applications such as reducing costs incurred in record maintaining, efficient operations and real time application. For instance, radio frequency identification, patient unique identification number helps in improving administration productivity. However, increase in privacy and data security concerns, cost of the software installations, insufficient availability of trained manpower are hindering the hospital information system market growth.
Geographic Analysis:
Geographically, North America is dominating the hospital information system market due to rise in technological development, supportive infrastructure and government initiatives towards healthcare sector such as primary healthcare, public healthcare, WHO and among others. Europe is second largest region in the market due to digitization of healthcare process. Adaption of new technology and government initiatives in Asia Pacific, is setting up new standards for hospital information system market growth during forecast period.
Competitive Scenario:
Key players of hospital information system industry are Allscripts healthcare solutions Inc., Cerner Corporation, GE healthcare, Siemens healthcare, Philips healthcare, integrated medical systems Pvt. Ltd, McKesson Corporation, Agfa-Gevaert N.V sysmex Sdn, and Practice fusion.
Hospital Information System Market Report Scope
| Report Attribute | Details |
| Analysis Period | 2020–2030 |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Market Size Estimation | Billion (USD) |
| Growth Rate (CAGR%) | 11 % |
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| By Product (Electronic Medical Record (EMR), Electronic Health Record (EHR), Laboratory Information System, Radiology Information System, Material Management, Human Resources, Finance, And Others), By Deployment (Web Based, Cloud Based & On Premises), By Application (Radiology, In-Out Patient, Human Resource, Financial, Quality, Inventory, Pharmacy And Others) |
| Geographical Segmentation | North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), South America (Brazil, Argentina, Rest of SA), MEA (UAE, Saudi Arabia, South Africa) |
| Key Companies Profiled | Allscripts healthcare solutions Inc., Cerner Corporation, GE healthcare, Siemens healthcare, Philips healthcare, integrated medical systems Pvt. Ltd, McKesson Corporation, Agfa-Gevaert N.V sysmex Sdn, and Practice fusion. |
