Dublin, Dec. 31, 2021 (GLOBE NEWSWIRE) -- The "Hospital Information System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The global hospital information systems market is projected to grow at a CAGR of 8.4% during the forecast period.
The ongoing pandemic is putting healthcare systems under strain worldwide and forcing hospitals and other medical facilities to scramble to make sure data can be shared effectively. The 'digital front door' is really key to how providers should be responding to the COVID-19 situation in terms of access, triage, and even treatment. With the surge in the demand for hospital capacity, one of the challenges faced by hospital IT staffers is figuring out how to quickly deploy EHR systems to alternative care locations.
Moreover, the healthcare facilities such as hospitals, diagnostic centers, and clinics are showing interest towards clinical decision support systems, electronic health records (EHRs) and other systems in minimizing medication prescription errors, adverse drug events monitoring and other medical errors. COVID-19 is acting as a trigger for a sharp uptake of teleconsultations. The restrictions on free movement and travel, the limitation of medical services to emergency situations, and the overall increase in suspected and confirmed COVID-19 infections have contributed to the recent surge in teleconsultation platforms.
For instance, during COVID-19 pandemic, in December 2020, Indian Railways launched integrated Hospital Management Information System (HMIS) in South Central Railways and Northern Railways. The HMIS in railways has been developed in co-ordination with RailTel Corporation Limited. The objective of the HMIS is to provide a single-window of clearance of hospital administration activity such as diagnostics, clinical, pharmacy, examinations, industrial health among other things.
The major factors driving the hospital information systems include increasing demand for the quality healthcare system, technological development in the healthcare sector, and increase in government initiatives and rising awareness regarding EHR systems.
Electronic health record (EHR) is a real-time and patient-centred record that makes information about the patient availability quickly and securely to the concerned and authorized user. The EHRs contain the patient's medical history, treatment plans, and the test results of the laboratory. EHRs improve the ability to diagnose the disease and they reduce the chances of errors in the results, which ultimately improve the outcome for the patients.
As per the study by the HealthIT.gov June 2019, around 94% of the EHR providers reported that their EHRs make the records readily available at the point of care, and 88% of the EHR providers reported that their EHRs provide benefits for clinical practices. This indicates that the providers understand the significance of the EHR systems. Owing to this, the demand for EHR systems in healthcare practices is increasing. The use of EHR is increasing, due to higher patient satisfaction, in terms of the services that they receive.
As per the data published by the Office of the National Coordinator for Health Information Technology (ONC) in October 2018, stated that acute care hospitals were steadily improving their EHR interoperability capabilities for more advanced health data exchange. As EHR is a major component of the hospital information system, the need to integrate and manage the EHR, along with other administrative and clinical processes, is expected to contribute to the growth of the hospital information systems market, during the forecast period. However, factors such as data security and privacy concerns and lack of proper IT infrastructure in developing regions is expected to restrain market growth over the forecast period.
Key Market Trends
- Cloud-based Mode of Delivery Expected to Witness the Fastest Growth
- North America Dominates the Market
Competitive Landscape
The Hospital Information System Market is fragmented competitive, owing to the presence of various players. The market players are focusing on integrating the technologies and developing more secured information systems to expand their market share. Moreover, companies also focusing on developing healthcare markets to strengthen its market position. Some of the market players are Dedalus S.p.A., Allscripts Healthcare Solutions Inc., Cerner Corporation, GE Healthcare, Integrated Medical Systems, Koninklijke Philips NV, McKesson Corporation, Carestream Health, and Wipro Limited among others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Quality Healthcare System
4.2.2 Technological Development in Healthcare Sector
4.2.3 Increase in Government Initiatives and Rising Awareness Regarding EHR Systems
4.3 Market Restraints
4.3.1 Data Security and Privacy Concerns
4.3.2 Lack of Proper IT Infrastructure in Developing Regions
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Mode of Delivery
5.1.1 Cloud-based
5.1.2 On-premise
5.2 By Type
5.2.1 Clinical Information Systems
5.2.2 Administrative Information Systems
5.2.3 Electronic Medical Records
5.2.4 Laboratory Information System
5.2.5 Radiology Information System
5.2.6 Pharmacy Information System
5.2.7 Other Types
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Dedalus S.p.A. (Agfa-Gevaert Group)
6.1.2 Allscripts Healthcare Solutions Inc.
6.1.3 Cerner Corporation
6.1.4 GE Healthcare
6.1.5 Integrated Medical Systems
6.1.6 Koninklijke Philips NV
6.1.7 McKesson Corporation
6.1.8 Carestream Health
6.1.9 Wipro Limited
6.1.10 eClinicalWorks
6.1.11 Epic Systems Corporation
6.1.12 Greenway Health, LLC
6.1.13 NextGen Healthcare, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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