Hospital Information Market: Current Analysis and Forecast (2021-2027)

The Hospital Information System Market is expected to grow at a CAGR of 10% during the forecast period. The hospital information system deals with the management aspects. This market is implemented to improve medical policies to adopt safe and effective hospital information systems. In addition, the hospital information system (HIS) is fully automated and manages the clinical data of the patients which helps to improve the success rate of treatment and also this technology is used to monitor, control, and minimize the theft of data & storage. Moreover, market key players in this market are adopting advanced technology for better assistance in the healthcare sector and looking for better advancements in the future which will drive the growth of this market during the forecast period. For instance, in 2019, Northwell Health and Allscripts announced and signed an agreement to develop the next-generation HER that would be AI-based, voice-enabled, and cloud-based.

Some of the major companies operating in the medical coding market include Allscripts Healthcare Solutions Inc., Cerner Corporation, Carestream Health, Merge Healthcare Inc., NXGN Management LLC, GE Healthcare, Siemens Healthineers AG, Wipro Limited, McKesson Corporation, and Koninklijke Philips N.V.

Insights Presented in the Report

"Amongst application, electronic healthcare records (EHR) category is expected to witness considerable growth during the forecast period"

Based on application, the market has been categorized into electronic healthcare records, clinical information systems, administrative information systems, pharmacy information systems, and others. Amongst these, the electronic healthcare records (EHR) category is expected to witness significant growth during the forecast period. This is mainly due to the hospitals and other clinical systems adopting EHR technology in minimizing medication prescription errors, adverse drug events monitoring, and billing errors are the major factors for the growth of this market during the forecast period. For instance, according to the Office of the National Coordinator for Health Information Technology (ONC), data from 2019 & 2021, 86% of non-federal general acute care hospitals had adopted a 2015 addition certified electronic health record (EHR).

"Amongst delivery mode, handheld category held a significant share in 2020"

Based on the delivery mode, the market has been categorized into web & cloud-based, and on-premises. Among these, the web & cloud-based category is expected to witness a significant growth rate in the hospital information system market. The cloud-based technology is continuing its momentum due to various security lapses in web-based and on-premises systems. Moreover, software systems that are used in the hospitals such as diagnostic test reports, medical data of the patients, and the security of the storage data are also contributing to the growth of this market during the forecast period. For instance, according to the Centers for Diseases Control and Prevention (CDC), around 89.9% of physicians are using EMR/EHR systems in the U.S.

"North America to witness significant growth during the forecast period"

For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. This is mainly due to the higher per capita income and the increasing healthcare spending in the U.S. Moreover, the rising hospital administration rate of the patients coupled with the increasing integration of EHR & EMR software across the region. availability of advanced healthcare infrastructure, increasing the adoption rate of new technological advancements in medical coding, EHR, and ongoing initiatives of the government to enhance awareness and provide funding in this region. For instance, as per the 2022 American Academy of Professional Coders (AAPC), there are thousands of services performed by providers and an equal number of injectable drugs and supplies to be tracked, and medical coding classifies these for easier reporting and tracking.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

Customization Options:

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