Healthcare Information System Market Report
RA01464
Healthcare Information System Market by Application (Hospital Information System, Pharmacy Automation Systems, Laboratory Informatics, Revenue Cycle Management, and Medical Imaging Information System ), Deployment (Web-based, Cloud-based, and On-premises), Component (Hardware, Services, and Software & Systems), End-user (Hospitals, Diagnostic Centers, and Academic & Research Institutes ), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Healthcare Information System Overview
For healthcare professionals, patients, and other stakeholders, a healthcare information system (HIS) is a comprehensive system that is used to organise and preserve information about healthcare organizations. In order to support numerous operations within the healthcare business, it entails the use of technology and software applications to collect, store, transmit, and retrieve healthcare data. Healthcare Information System (HIS) increases efficiency and saves time for healthcare practitioners by automating procedures, reducing paperwork, and streamlining administrative activities.
Global Healthcare Information System Market Analysis
The global healthcare information system market size was $412.5 billion in 2022 and is predicted to grow at a CAGR of 13.2%, by generating a revenue of $1,418.3 billion by 2032.
COVID-19 Impact on Global Healthcare Information System Market
Telehealth and remote care solutions have become very popular due to social distancing policies and the necessity to reduce in-person visits. There has been an increase in demand for HIS platforms that offer telemedicine features including video consultations, secure messaging, and remote monitoring.
Even after the pandemic, telehealth and remote care solutions usage are anticipated to continue. Virtual consultations and remote monitoring have shown to be useful and convenient for both patients and healthcare professionals. Healthcare Information System (HIS) platforms with telehealth capabilities will therefore continue to be in great demand.
Technological Advancements to Drive the Market Growth
The Healthcare Information System (HIS) industry has expanded tremendously as a result of the quick development of technology, including cloud computing, AI, data analytics, and Internet of Things (IoT). Large volumes of healthcare data can now be collected, analysed, and shared thanks to these technologies, which improves clinical judgement, patient care, and operational effectiveness. The adoption of healthcare information systems is significantly influenced by government efforts and legislation. Healthcare organisations have been encouraged to invest in HIS solutions to comply with regulations like the Health Information Technology for Economic and Clinical Health (HITECH) Act in the United States and initiatives promoting interoperability and electronic health records (EHRs) globally.
Data Privacy and Security Concerns to Restrain Market Growth
Data privacy and security are of utmost importance to healthcare organisations since they manage sensitive patient data. It is essential to guarantee the privacy, accuracy, and accessibility of patient data. Data interchange and integration are complicated because various systems frequently employ dissimilar standards, data formats, and interfaces. It is still very difficult to provide flawless interoperability between various healthcare information systems. If proper security controls and standards are not in place, the danger of data breaches, cyberattacks, and unauthorised access might hamper the adoption of HIS solutions.
Advanced Analytics and AI to Drive Excellent Opportunities
Healthcare could be transformed by the incorporation of cutting-edge analytics and artificial intelligence (AI) technology into HIS platforms. Large patient data sets can be analysed by AI algorithms to find trends, forecast results, and aid in clinical decision-making. Personalised medicine, preventive care, and population health management can all benefit from insights from advanced analytics. It's still important to achieve smooth interoperability and health information exchange among healthcare organisations. Enhanced care coordination, fewer unnecessary testing, and better patient outcomes are all made possible by greater interoperability, which makes it possible for various systems and providers to share patient information in a secure and effective manner.
Global Healthcare Information System Market Share, by Application, 2022
The revenue cycle management sub-segment accounted for the highest share in 2022. The environment of healthcare reimbursement is always changing and getting more complicated. Healthcare organisations face difficulties as a result of the transition from fee-for-service to value-based payment models, changing reimbursement laws and regulations, and the advent of alternative payment models. To simplify these complications and ensure correct billing, coding, and reimbursement procedures, RCM systems are integrated into HIS platforms.
Global Healthcare Information System Market Share, by Deployment, 2022
The web-based sector accounted for the highest market size in 2022. Healthcare practitioners can access patient data and system features from any location with an internet connection thanks to web-based HIS platforms. This makes it possible for healthcare professionals to access patient information remotely, enabling them to provide care outside of conventional clinical settings and assist telehealth programs. The usability of web-based HIS encourages patient engagement, fosters provider collaboration, and improves care coordination. Healthcare organisations can scale and be flexible with web-based HIS systems. They are easily scalable as web applications easily adapt to changes in the organization's growth, user base, and data volume.
Global Healthcare Information System Market Share, by Component, 2022
The services sector accounted for the highest market size in 2022. Planning, setup, installation, and integration of HIS solutions inside healthcare organisations are all part of implementation and deployment services. To guarantee a seamless transition and successful use of the HIS platform, service providers closely collaborate with healthcare providers. Project management, system configuration, data migration, and user training are a few examples of these services. To guarantee that healthcare professionals and personnel are skilled in using the HIS platform, training and education services are crucial. Medical professionals, nurses, administrators, and IT personnel are just a few of the user roles for whom service providers have training programmes specifically designed.
Global Healthcare Information System Market Share, by End-user, 2022
The hospitals sector accounted for the highest market size in 2022. The goals of hospitals are to provide patients with high-quality care and improve patient outcomes. HIS platforms give hospitals the tools they need to improve care coordination, gather and access patient data, and streamline clinical procedures. These systems give hospitals the ability to increase patient security, lower medical errors, and provide individualised, research-based care.
Global Healthcare Information System Market Share, by Region, 2022
The North America healthcare information system market registered the highest market share in 2022. The adoption of HIS in North America is significantly influenced by government policies and laws. For instance, in the US, programmes like the Centres for Medicare and Medicaid Services (CMS), EHR Incentive Programs, and the Health Information Technology for Economic and Clinical Health (HITECH) Act have encouraged healthcare organisations to adopt electronic health record (EHR) systems and advance health information exchange. These activities propel the adoption and utilisation of HIS solutions throughout the healthcare system.
Competitive Scenario in the Global Healthcare Information System Market
Product development and geographic expansion are major strategies followed by the key players in the highly competitive global Healthcare Information System market. For instance, Athenahealth increased the voice capabilities of its mobile EHR for healthcare practitioners in June 2022. The voice assistant will enable them to save time, enhance patient satisfaction, and increase documentation accuracy.
Some of the leading healthcare information system market players are Athenahealth, Inc., Philips Healthcare, Agfa Gevaert Group, eClinicalWorks, Hewlett Packard, Epic Systems Corporation, McKesson Corporation, Allscripts Healthcare, LLC, Oracle (Cerner Corporation), and GE Healthcare
| Aspect | Particulars |
| Historical Market Estimations | 2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Application |
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| Segmentation by Deployment |
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| Segmentation by Component |
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| Segmentation by End-user |
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| Key Companies Profiled |
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Q1. What is the size of the healthcare information system market?
A. The size of the healthcare information system market was over $412.5 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.2% during the forecast period.
Q2. Which are the major companies in the healthcare information system market?
A. eClinicalWorks and GE Healthcare are some of the key players in the global healthcare information system market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The North America region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and geographic expansion are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more in R&D practices?
A. eClinicalWorks and GE Healthcare are the companies investing more in R&D activities for developing new products and technologies.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Healthcare Information Systems Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Healthcare Information Systems Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Healthcare Information Systems Market, By Technology
5.1. Overview
5.2 Hospital
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 Pharmacy
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Laboratory
5.4.1 Definition, key trends, growth factors, and opportunities
5.4.2 Market size analysis, by region, 2020-2027
5.4.3 Market share analysis, by country, 2020-2027
5.5 Revenue Cycle Management
5.5.1 Definition, key trends, growth factors, and opportunities
5.5.2 Market size analysis, by region, 2020-2027
5.5.3 Market share analysis, by country, 2020-2027
5.6 Medical Imaging
5.6.1 Definition, key trends, growth factors, and opportunities
5.6.2 Market size analysis, by region, 2020-2027
5.6.3 Market share analysis, by country, 2020-2027
5.7 Research Dive Exclusive Insights
5.7.1 Market attractiveness
5.7.2 Competition heatmap
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6. Healthcare Information Systems Market, By Distribution Channel
6.1. Overview
6.2 Hospitals
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Diagnostic Centers
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Academic and Research Institutes
6.4.1 Definition, key trends, growth factors, and opportunities
6.4.2 Market size analysis, by region, 2020-2027
6.4.3 Market share analysis, by country, 2020-2027
6.5 Research Dive Exclusive Insights
6.5.1 Market attractiveness
6.5.2 Competition heatmap
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7. Healthcare Information Systems Market, By Target Area
7.1. Overview
7.2 Hardware
7.2.1 Definition, key trends, growth factors, and opportunities
7.2.2 Market size analysis, by region, 2020-2027
7.2.3 Market share analysis, by country, 2020-2027
7.3 Software and Systems
7.3.1 Definition, key trends, growth factors, and opportunities
7.3.2 Market size analysis, by region, 2020-2027
7.3.3 Market share analysis, by country, 2020-2027
7.4 Services
7.4.1 Definition, key trends, growth factors, and opportunities
7.4.2 Market size analysis, by region, 2020-2027
7.4.3 Market share analysis, by country, 2020-2027
7.5 Research Dive Exclusive Insights
7.5.1 Market attractiveness
7.5.2 Competition heatmap
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8. Healthcare Information Systems Market, By Disease Type
8.1. Overview
8.2 Web-based
8.2.1 Definition, key trends, growth factors, and opportunities
8.2.2 Market size analysis, by region, 2020-2027
8.2.3 Market share analysis, by country, 2020-2027
8.3 On-premise
8.3.1 Definition, key trends, growth factors, and opportunities
8.3.2 Market size analysis, by region, 2020-2027
8.3.3 Market share analysis, by country, 2020-2027
8.4 Cloud-based
8.4.1 Definition, key trends, growth factors, and opportunities
8.4.2 Market size analysis, by region, 2020-2027
8.4.3 Market share analysis, by country, 2020-2027
8.5 Research Dive Exclusive Insights
8.5.1 Market attractiveness
8.5.2 Competition heatmap
9. Healthcare Information Systems Market, By Region
9.1 North America
9.1.1 U.S
9.1.1.1 Market size analysis, By Technology, 2020-2027
9.1.1.2 Market size analysis, By Distribution Channel, 2020-2027
9.1.1.3 Market size analysis, By Target Area, 2020-2027
9.1.1.4 Market size analysis, By Disease Type, 2020-2027
9.1.2 Canada
9.1.2.1 Market size analysis, By Technology, 2020-2027
9.1.2.2 Market size analysis, By Distribution Channel, 2020-2027
9.1.2.3 Market size analysis, By Target Area, 2020-2027
9.1.2.4 Market size analysis, By Disease Type, 2020-2027
9.1.3 Mexico
9.1.3.1 Market size analysis, By Technology, 2020-2027
9.1.3.2 Market size analysis, By Distribution Channel, 2020-2027
9.1.3.3 Market size analysis, By Target Area, 2020-2027
9.1.3.4 Market size analysis, By Disease Type, 2020-2027
9.1.4 Research Dive Exclusive Insights
9.1.4.1 Market attractiveness
9.1.4.2 Competition heatmap
9.2 Europe
9.2.1 Germany
9.2.1.1 Market size analysis, By Technology, 2020-2027
9.2.1.2 Market size analysis, By Distribution Channel, 2020-2027
9.2.1.3 Market size analysis, By Target Area, 2020-2027
9.2.1.4 Market size analysis, By Disease Type, 2020-2027
9.2.2 UK
9.2.2.1 Market size analysis, By Technology, 2020-2027
9.2.2.2 Market size analysis, By Distribution Channel, 2020-2027
9.2.2.3 Market size analysis, By Target Area, 2020-2027
9.2.2.4 Market size analysis, By Disease Type, 2020-2027
9.2.3 France
9.2.3.1 Market size analysis, By Technology, 2020-2027
9.2.3.2 Market size analysis, By Distribution Channel, 2020-2027
9.2.3.3 Market size analysis, By Target Area, 2020-2027
9.2.3.4 Market size analysis, By Disease Type, 2020-2027
9.2.4 Spain
9.2.4.1 Market size analysis, By Technology, 2020-2027
9.2.4.2 Market size analysis, By Distribution Channel, 2020-2027
9.2.4.3 Market size analysis, By Target Area, 2020-2027
9.2.4.4 Market size analysis, By Disease Type, 2020-2027
9.2.5 Italy
9.2.5.1 Market size analysis, By Technology, 2020-2027
9.2.5.2 Market size analysis, By Distribution Channel, 2020-2027
9.2.5.3 Market size analysis, By Target Area, 2020-2027
9.2.5.4 Market size analysis, By Disease Type, 2020-2027
9.2.6 Rest of Europe
9.2.6.1 Market size analysis, By Technology, 2020-2027
9.2.6.2 Market size analysis, By Distribution Channel, 2020-2027
9.2.6.3 Market size analysis, By Target Area, 2020-2027
9.2.6.4 Market size analysis, By Disease Type, 2020-2027
9.2.7 Research Dive Exclusive Insights
9.2.7.1 Market attractiveness
9.2.7.2 Competition heatmap
9.3 Asia-Pacific
9.3.1 China
9.3.1.1 Market size analysis, By Technology, 2020-2027
9.3.1.2 Market size analysis, By Distribution Channel, 2020-2027
9.3.1.3 Market size analysis, By Target Area, 2020-2027
9.3.1.4 Market size analysis, By Disease Type, 2020-2027
9.3.2 Japan
9.3.2.1 Market size analysis, By Technology, 2020-2027
9.3.2.2 Market size analysis, By Distribution Channel, 2020-2027
9.3.2.3 Market size analysis, By Target Area, 2020-2027
9.3.2.4 Market size analysis, By Disease Type, 2020-2027
9.3.3 India
9.3.3.1 Market size analysis, By Technology, 2020-2027
9.3.3.2 Market size analysis, By Distribution Channel, 2020-2027
9.3.3.3 Market size analysis, By Target Area, 2020-2027
9.3.3.4 Market size analysis, By Disease Type, 2020-2027
9.3.4 Australia
9.3.4.1 Market size analysis, By Technology, 2020-2027
9.3.4.2 Market size analysis, By Distribution Channel, 2020-2027
9.3.4.3 Market size analysis, By Target Area, 2020-2027
9.3.4.4 Market size analysis, By Disease Type, 2020-2027
9.3.5 South Korea
9.3.5.1 Market size analysis, By Technology, 2020-2027
9.3.5.2 Market size analysis, By Distribution Channel, 2020-2027
9.3.5.3 Market size analysis, By Target Area, 2020-2027
9.3.5.4 Market size analysis, By Disease Type, 2020-2027
9.3.6 Rest of Asia-Pacific
9.3.6.1 Market size analysis, By Technology, 2020-2027
9.3.6.2 Market size analysis, By Distribution Channel, 2020-2027
9.3.6.3 Market size analysis, By Target Area, 2020-2027
9.3.6.4 Market size analysis, By Disease Type, 2020-2027
9.3.7 Research Dive Exclusive Insights
9.3.7.1 Market attractiveness
9.3.7.2 Competition heatmap
9.4 LAMEA
9.4.1 Brazil
9.4.1.1 Market size analysis, By Technology, 2020-2027
9.4.1.2 Market size analysis, By Distribution Channel, 2020-2027
9.4.1.3 Market size analysis, By Target Area, 2020-2027
9.4.1.4 Market size analysis, By Disease Type, 2020-2027
9.4.2 Saudi Arabia
9.4.2.1 Market size analysis, By Technology, 2020-2027
9.4.2.2 Market size analysis, By Distribution Channel, 2020-2027
9.4.2.3 Market size analysis, By Target Area, 2020-2027
9.4.2.4 Market size analysis, By Disease Type, 2020-2027
9.4.3 UAE
9.4.3.1 Market size analysis, By Technology, 2020-2027
9.4.3.2 Market size analysis, By Distribution Channel, 2020-2027
9.4.3.3 Market size analysis, By Target Area, 2020-2027
9.4.3.4 Market size analysis, By Disease Type, 2020-2027
9.4.4 South Africa
9.4.4.1 Market size analysis, By Technology, 2020-2027
9.4.4.2 Market size analysis, By Distribution Channel, 2020-2027
9.4.4.3 Market size analysis, By Target Area, 2020-2027
9.4.4.4 Market size analysis, By Disease Type, 2020-2027
9.4.5 Rest of LAMEA
9.4.5.1 Market size analysis, By Technology, 2020-2027
9.4.5.2 Market size analysis, By Distribution Channel, 2020-2027
9.4.5.3 Market size analysis, By Target Area, 2020-2027
9.4.5.4 Market size analysis, By Disease Type, 2020-2027
9.4.6 Research Dive Exclusive Insights
9.4.6.1 Market attractiveness
9.4.6.2 Competition heatmap
10. Competitive Landscape
10.1 Top winning strategies, 2020-2027
10.1.1 By strategy
10.1.2 By year
10.2 Strategic overview
10.3 Market share analysis, 2020-2027
11. Company Profiles
11.1 Philips Healthcare
11.1.1 Overview
11.1.2 Business segments
11.1.3 Product portfolio
11.1.4 Financial performance
11.1.5 Recent developments
11.1.6 SWOT analysis
11.2 NextGen Healthcare
11.2.1 Overview
11.2.2 Business segments
11.2.3 Product portfolio
11.2.4 Financial performance
11.2.5 Recent developments
11.2.6 SWOT analysis
11.3 Carestream Health
11.3.1 Overview
11.3.2 Business segments
11.3.3 Product portfolio
11.3.4 Financial performance
11.3.5 Recent developments
11.3.6 SWOT analysis
11.4 Cerner Corporation
11.4.1 Overview
11.4.2 Business segments
11.4.3 Product portfolio
11.4.4 Financial performance
11.4.5 Recent developments
11.4.6 SWOT analysis
11.5 GE Healthcare
11.5.1 Overview
11.5.2 Business segments
11.5.3 Product portfolio
11.5.4 Financial performance
11.5.5 Recent developments
11.5.6 SWOT analysis
11.6 McKesson Corporation
11.6.1 Overview
11.6.2 Business segments
11.6.3 Product portfolio
11.6.4 Financial performance
11.6.5 Recent developments
11.6.6 SWOT analysis
11.7 Athenahealth, Inc.
11.7.1 Overview
11.7.2 Business segments
11.7.3 Product portfolio
11.7.4 Financial performance
11.7.5 Recent developments
11.7.6 SWOT analysis
11.8 Allscripts
11.8.1 Overview
11.8.2 Business segments
11.8.3 Product portfolio
11.8.4 Financial performance
11.8.5 Recent developments
11.8.6 SWOT analysis
11.9 Medidata Solutions Inc.
11.9.1 Overview
11.9.2 Business segments
11.9.3 Product portfolio
11.9.4 Financial performance
11.9.5 Recent developments
11.9.6 SWOT analysis
11.10 Siemens Healthineers
11.10.1 Overview
11.10.2 Business segments
11.10.3 Product portfolio
11.10.4 Financial performance
11.10.5 Recent developments
11.10.6 SWOT analysis
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