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.
|Market Size||US$ 90.2 Bn by 2030|
|Growth Rate||CAGR of 6.9% From 2021 to 2030|
|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|
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.
Merge Healthcare Inc. (IBM)
Electronic health record
Electronic medical record
Patient engagement solution
Population health management
The Hospital Information System market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Hospital Information System market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Hospital Information System market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hospital Information System market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hospital Information System market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Hospital Information System capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Hospital Information System by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hospital Information System market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hospital Information System market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hospital Information System market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Hospital Information System industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Hospital Information System market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hospital Information System market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hospital Information System market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hospital Information System market. These factors have benefited the growth of the global market for Hospital Information System. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hospital Information System. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Hospital Information System are as follows:
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
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.
The study objectives of this report are:
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