PUBLISHER: SkyQuest | PRODUCT CODE: 1321795
PUBLISHER: SkyQuest | PRODUCT CODE: 1321795
Global Healthcare Information Systems Market size was valued at USD 358.5 billion in 2021 and is poised to grow from USD 406.4 billion in 2022 to USD 1614.8 billion by 2030, growing at a CAGR of 13.3% in the forecast period (2023-2030).
Healthcare information systems play a crucial role in securely managing healthcare data. Information technology has a profound impact on healthcare, improving cost efficiency, quality, and safety. Electronic medical records, healthcare records, and personal health records are widely used applications in the industry. These systems enable patient-centered care management, population health management, and point-of-care solutions, resulting in reduced healthcare costs and improved outcomes. Technological advancements in healthcare IT infrastructure, such as IoT, big data, and AI, drive market growth. Government investments in healthcare infrastructure development and digitization have also contributed to market expansion. Factors such as new product launches, partnerships, and collaborations are important determinants of market growth. However, the reluctance of healthcare infrastructure to adopt these systems may hinder market growth.
Segments covered in this report:
Global healthcare information systems market is segmented based on the application, component, deployment, end-user, and region. Based on application, global market is segmented into pharmacy information systems, hospital information systems, laboratory information systems, revenue cycle management, and medical imaging information system. Based on component, the market is segmented into hardware, software, and services. Based on deployment, the market is segmented into cloud-based, web-based, and on-premises. Based on end-user, the market is segmented into hospitals, diagnostic centers, academic & research institutes. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The rising prevalence of chronic diseases, a growing elderly population, and an increase in road accidents are leading to a higher number of patients requiring hospitalization. To effectively handle and securely store the vast amount of patient-related data, there is a growing demand for efficient healthcare information systems. This increasing need to move away from paperwork is driving the expansion of the global healthcare information systems market.
Restraint
The growth of the market may face significant obstacles due to cybersecurity concerns and data breaches related to digital data storage. In order to achieve sustainable growth, market participants need to tackle these challenges effectively. Moreover, the insufficient healthcare infrastructure in developing economies is hindering the market's expansion.
Key Market Trend
The rise in mHealth initiatives by various companies and healthcare institutions for remote patient monitoring is driving the adoption of IT solutions for remote patient monitoring services. A significant trend in the healthcare industry is the growing popularity of cloud-based healthcare information systems. Healthcare institutions are increasingly transitioning from on-premises and web-based systems to cloud systems due to their numerous advantages and benefits, including lower costs for data storage and management.