The global healthcare information systems market size is expected to reach USD 169.2billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.7% CAGR during the forecast period. The market is majorly driven by increase in adoption of advanced technologies in healthcare facilities. 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. Furthermore, increase 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.
Potential opportunities of IT in healthcare in applications such as reducing operating costs incurred while record keeping and meeting regulatory standards for privacy, as well as efficient hospital workflow management, are among other factors driving uptake. Furthermore, it is expected that these systems will, in the long run, save money and allow organizations to earn significant profits.
Growing demand for radiology information systems in diagnostic procedures has propelled the healthcare information systems market. The sophisticated database system allows medical professionals to track massive image files produced during the course of diagnosis and treatment.
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Further key findings from the report suggest:
- In 2016, hospital information system held the largest share by application owing to increase in adoption in hospitals for improving operational efficiency
- By deployment, cloud-based systems are expected to grow at a faster pace over the forecast period. Utilization of cloud-based technology has increased due to various security breaches in on-premise and web-based deployment solutions
- On the basis of component, services held the largest share in 2016. With advancements in software and hardware, the demand for these services is expected to increase
- In 2016, hospitals emerged as the largest end-use segment. The shift in trend from volume-based care to value-based care is leading to increase in demand for information systems in hospitals
- North America was a major contributor to the healthcare information systems market in 2016
- Key players in this space include McKesson Corporation; Cerner Corporation; Athenahealth, Inc.; Allscripts; Medidata Solutions Inc.; GE Healthcare; Siemens Healthineers; and NextGen Healthcare
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Grand View Research has segmented the global healthcare information systems market on the basis of application, deployment, component, end use, and region:
Healthcare Information Systems Application Outlook (Revenue, USD Million, 2014–2025)
- Hospital Information Systems
- Electronic health record
- Electronic medical record
- Real-time healthcare
- Patient engagement solution
- Population health management
- Pharmacy Information Systems
- Prescription management
- Automated dispensing systems
- Inventory management
- Others
- Radiology information systems
- Monitoring analysis software
- Picture archiving and communication system
- Laboratory Information Systems
- Revenue Cycle Management
- Medical Imaging Information System
Healthcare Information Systems Deployment Outlook (Revenue, USD Million, 2014–2025)
- Web-based
- On-premise
- Cloud base
Healthcare Information Systems Component Outlook (Revenue, USD Million, 2014–2025)
- Hardware
- Software and systems
- Services
Healthcare Information Systems End-use Outlook (Revenue, USD Million, 2014–2025)
- Hospitals
- Diagnostic centers
- Academic and research institutes
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