Sarasota, FL, March 02, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Healthcare Information System Market by Delivery Sources (On-Premise Technology, Cloud Based Technology, Web Based Technology) for Pharmacy Information System, Hospital Information System and Laboratory Information System Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, the global healthcare information system market was valued at approximately USD 41.20 billion in 2016 and is expected to reach approximately USD 60.00 billion by 2022, growing at a CAGR of around 7.0% between 2017 and 2022.
Health information system is designed to collect data from the health sector and transfer information electronically. Health information system plays a vital role in the clinical care and hospital operations. The health information system offers the underpinnings for decision making and has four key functions such as data generation, compilation, analysis, and synthesis.
Browse through 33 Market Tables and 29 Figures spread through 110 Pages and in-depth TOC on “Global Healthcare Information System Market: Type, Size, Share, Trends, Application, Analysis, Segment and Forecast 2016 – 2022”.
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The health information system market is expected to witness the fastest growth in the near future. Some of the key drivers such as increasing incidence and prevalence of chronic diseases coupled with the aging population are expected to propel the market growth within the forecast period. Government initiatives, initiatives from the private and public sector around the world coupled with rapid technological enhancements are expected to have a positive impact on this market. However, scarcity of healthcare IT professionals and high maintenance & service cost may hamper the market growth over the forecast period. Nonetheless, technological advancement is expected to open up new growth opportunities in the years to come.
On-premises installation, cloud-based technology, and web-based technology are key delivery modes in the market. Cloud-based technology dominated the healthcare information system market. This growth can be attributed to increasing pressure to reduce healthcare costs while maintaining the quality of care provided to patients. According to study, currently, more than 80% healthcare organizations are using cloud services. On-premises installation and web-based technology are expected to show significant growth in the years to come.
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On the basis of services, the market can be segmented into software, hardware, and services. In 2016, software segment was the leading segment on account of increasing IT spending in developed regions. This segmented is expected to exhibit exponential growth within the forecast period. Service is important to a segment of this market and is expected to witness strong growth in the near future.
The market can be segmented on the basis of applications including hospital information system, pharmacy information system and laboratory information system. Hospital information system accounted for the largest share and is expected to continue its dominance while growing at a CAGR of 6.5% during forecast period. Laboratory information system is another key outlet of this market and is expected to witness significant growth in the years to come. This growth is mainly due to increase chronic disease prevalence coupled with utilization of laboratory information system for enhancing laboratory workflow efficiency.
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North America region dominated the overall healthcare information system market and accounted for largest share of the market in terms of revenue in 2016. This trend is expected to continue in the years to come. This growth is mainly due to high health expenditure and technological advancement to provide innovative products. In the U.S., the government support accelerated the adoption of hospital information system. In February 2009, The HITECH Act (Health Information Technology for Economic and Clinical Health), signed into law by former President Barack Obama to accelerate health IT adoption in the U.S. Thus, this region is expected to witness a noticeable growth in the health care information market within the forecast period.
Asia Pacific is expected to be a lucrative market over the next few years on account of increasing awareness and rising demand for better healthcare facilities. As a result, public and private hospitals are adopting hospital information systems (HIS) and the governments are encouraging these implementations. This is increasing the demand for healthcare information systems and related solutions in this region.
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Europe was the second largest regional healthcare information system market in 2016. Europe healthcare information system market is expected to be driven due to the rise in geriatric population base. Increasing government initiatives, growing need to integrate healthcare systems, are key drivers that further boost the market for healthcare IT integration. Moreover, growth in this region is attributed to increasing concern regarding health among people.
Middle East & Africa is expected to witness the significant growth in coming years. The rapid growth of healthcare information system market will be driven by the increasing healthcare awareness coupled with advancement in technology. Latin America is another important regional market and is expected to experience significant growth over the forecast period. The growth is mainly due to the increasing demand for healthcare information system coupled with technological advancement. Thus, all aforementioned parameters are expected to propel the market growth in this region.
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Some of the key players in healthcare information system market include Philips healthcare, GE healthcare, Epic Systems Corporation, NextGen healthcare information systems Inc, Carestream health Inc., Siemens healthcare, Merge healthcare Inc, Cerner Corporation and McKesson Corporation. A majority of the leading players in the healthcare information system market are pursuing the strategies of new product launches, product deployments, and agreements.
This report segments the global healthcare information system market as follows:
Global Healthcare Information System Market: Delivery Mode Segment Analysis
- On-Premises Installation
- Cloud Based Technology
- Web-Based Technology
Global Healthcare Information System Market: Components Segment Analysis
- Software
- Hardware
- Services
Global Healthcare Information System Market: Application Segment Analysis
- Pharmacy Information System
- Laboratory Information System
- Hospital Information System
Global Healthcare Information System Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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