Hospital Information System Market

Hospital Information System Market Growth US$ 90.2 Bn by 2030

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The global hospital information system market size is expected to be worth around US$ 90.2 billion by 2030, according to a new report by Vision Research Reports.

The global hospital information system market size was valued at US$ 58.1 billion in 2020 and is anticipated to grow at a CAGR of 6.9% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 90.2 Bn by 2030
Growth Rate CAGR of 6.9% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Type, deployment, component
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Carestream Health; Siemens Healthineers; McKesson Corporation; Philips Healthcare; Merge Healthcare Inc. (IBM); GE Healthcare; Cerner Corporation; Allscripts; and NextGen Healthcare

Growth Factors

 An increase in the adoption of hospital information systems (HIS) for improving operational efficiency in administration, financial, and legal tasks in hospital settings is one of the key factors attributed to the market growth. In addition, growing awareness regarding advanced IT services and consequently growing requirements to curb healthcare costs are among other key driving factors. With the surging adoption of hospital information systems due to the several benefits of information technology, such as lower healthcare expenditure and higher operational efficiency, the demand for analytical IT solutions is increasing in healthcare.

The growing need for efficient management of a large volume of healthcare data generated and its accessibility by the medical practitioners is one of the key factors driving market growth recently.

By Type Analysis

The electronic health record segment dominated the market and accounted for the largest revenue share of 50.1% in 2020. The segment growth can be attributed to the growing usage of EHR software which is expected to boost the adoption of the hospital information solutions market over the next few years.

The patient engagement solutions segment is anticipated to register the fastest growth during the forecast period. The growing burden of chronic diseases and the rising geriatric population are some of the key factors increasing the adoption of patient engagement solutions globally.

By Deployment Analysis

The web-based deployment segment dominated the market and accounted for the largest revenue share of 42.9% in 2020 due to the surging number of hospitals opting for web-based deployments as compared to the on-premises. The web-based platform technology, including web-based electronic medical records and other information systems.

The cloud-based segment is anticipated to register the fastest growth during the forecast period owing to the growing demand for cloud technology across large, medium, and small-scale hospitals to streamline business operations, including financial, administrational, and legal operations, along with improved patient services.

By Component Analysis

The software segment dominated the market and accounted for the largest revenue share of 45.4% in 2020 due to the increasing demand for comprehensive integrated software solutions in hospital settings. These hospital information software solutions can perform critical functions, such as data capture, storage, interpretation, and analysis.

The services segment is anticipated to register the fastest growth during the forecast period owing to the high demand for experts in IT and communication services. Moreover, the growing adoption of technologically advanced solutions and IT infrastructure in hospitals are some of the key factors responsible for the fastest segment growth.

By Regional Analysis

North America dominated the market and accounted for the largest revenue share of 50.3% in 2020 due to the high demand for technologically advanced information systems in U.S. hospitals coupled with the high presence of IT vendors, such as Cerner, GE Healthcare, McKesson, Carestream Health, and NextGen Healthcare.

Asia Pacific is expected to be the fastest-growing market over the forecast period. The demand for hospital information systems has been increasing as they enable the efficient management of clinical, financial, and administrative aspects.

Key Players

  • Carestream Health
  • Siemens Healthineers
  • McKesson Corporation
  • Philips Healthcare
  • Merge Healthcare Inc. (IBM)
  • GE Healthcare
  • Cerner Corporation
  • Allscripts
  • NextGen Healthcare

Market Segmentation

  • Type
    • Electronic health record
    • Electronic medical record
    • Real-time healthcare
    • Patient engagement solution
    • Population health management
  • Deployment
    • Web-based
    • On-premises
    • Cloud-based
  • Component
    • Software
    • Hardware
    • Services
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Russia
      • Italy
      • Spain
      • Netherlands
      • Sweden
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • Singapore
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • MEA
      • South Africa
      • Saudi Arabia
      • UAE

Browse complete table of contents at https://www.visionresearchreports.com/hospital-information-system-market/toc/38851

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

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