Hospital Information Systems (HIS) Market

SKU: DMHOS2685 | Last Updated On: Oct 01 2022 | Available Formats

>Hospital Information Systems (HIS) Market Expected to reach a high CAGR of 11.51% during the forecast period 2022-2029: DataM Intelligence

Hospital Information Systems (HIS) Market is segmented By Mode of Delivery (Cloud-based, On-premise, Web-Based), By Component (Software, Hardware, Services, Others), By System Type (Laboratory Information System, Clinical Information Systems, Radiology Information System, Administrative Information Systems, Electronic Medical Records, Pharmacy Information System, Others), By End-User (Hospitals, Clinics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

[150 Pages Report] The Global Hospital Information Systems (HIS) Market is expected to grow at a high CAGR of 11.51% during the forecasting period (2022-2029).

Hospital Information Systems (HIS) Market - Strategic Insights

Metrics

Details

Market CAGR

11.51%

Segments Covered

By Mode of Delivery, By Component, By System Type, By End-User and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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A hospital information system (HIS) is used to record, manage, and monitor the operations associated with a hospital, including administration, financial operations, and documentation.

An electronic health record (EHR) is a real-time and patient-centered record that records information about the patient available quickly and securely to the concerned and authorized user. They improve the ability to diagnose the disease and they reduce the chances of errors in the results, which ultimately improve the outcome for the patients.

According to HealthIT.gov, more than 94% of the electronic health record providers reported that their EHRs make the records readily available at the point of care, and 88% of the EHR providers reported that their EHRs provide benefits for clinical practices. Due to the rising demand for EHR systems in healthcare practices, the market is expected to grow significantly over the forecast period.

With increasing cases of coronavirus disease (COVID-19) globally, the market players are innovating new virtual care systems for remote patient monitoring and telemedicine services, to create a safer environment for healthcare providers.

Also, the growing adoption of cloud-based computing systems is expected to boost the market growth over the forecast period. Several technological advancements, such as the integration of eHealth platforms, software-as-a-Service (SaaS) with HIS, web-based programs, Picture Archiving and Communication System (PACS), and radiology information systems (RIS) are also driving the growth of the market.

Based on mode of delivery, the cloud-based segment is expected to grow at the fastest growth over the forecast period (2020-2027). Cloud-based systems stores the hospital data on external servers, where it can be accessed through the web, which only requires a computer with an internet connection. Cloud-based delivery helps healthcare providers and patients access information, anytime and anywhere. Also, cloud-based information systems are cost-effective, particularly for small- and medium-sized practices, as there are no large hardware expenditures, and the software expense is based on a consistent subscription rate. In addition, an increasing number of hospitals, especially the chain of hospitals that need cloud-based information systems to manage data are further fueling the market growth.

North America region is dominating the global hospital information systems market accounted for the largest market share in 2019, due to favorable government policies, well-established healthcare infrastructure, and rapid digitalization in the healthcare system. The hospital information systems market has grown rapidly due to the government’s push to digitalize healthcare, from various initiatives to increase the adoption of electronic health records (EHR) to increasing investments in healthcare information exchange systems. For instance, In July 2017, Mackenzie Health launched a new electronic medical record (EMR) I in Canada which is implemented in collaboration with Epic, the software is the first full-suite Epic EMR to be installed in a Canadian hospital.

Competitive Landscape

The hospital information system market is fragmented with a large presence of market players. The key players are focusing on integrating the technologies and developing more secured information systems to expand their presence globally. Some of the market players are Dedalus S.p.A., Allscripts Healthcare Solutions Inc., Cerner Corporation, GE Healthcare, Integrated Medical Systems, Koninklijke Philips NV, McKesson Corporation, Carestream Health, and Wipro Limited among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the hospital information system market globally.  For instance,

In January 2020, iPatientCare launched and exhibited its Electronic Health Record and integrated Clinical/Hospital Management System for the Indian healthcare market.

In August 2019, Philips has acquired the Carestream's Healthcare Information Systems (HCIS) business in 26 of the 38 countries in which it operates

In April 2020, Dedalus S.p.A has acquired the healthcare IT portfolio of Agfa-Gevaert Group to expand its business position.

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FAQ

What is the Hospital Information Systems (HIS) Market growth?

The market is growing at a CAGR of 11.51%.

What is Hospital Information Systems (HIS) Market size in 2021

The Hospital Information Systems (HIS) Market size was valued at USD YY million in 2021.

Who are the key players in Hospital Information Systems (HIS) Market?

Dedalus S.p.A., Allscripts Healthcare Solutions Inc., Cerner Corporation, GE Healthcare, Integrated Medical Systems.

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