Pune, India, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The global hospital information system market to gain from increasing incidence of chronic disease. Fortune Business Insights recently announced a report, titled “Hospital Information Systems Market Size, Share and Global Trend By Application (Clinical Functions, Electronic Medical Records, Inventory Management, Administrative Function), By Delivery Mode (Cloud-based, On-premise, Web-based), Geography Forecast till 2026.” According to the report, in 2017 North America held a major share in the global market. In North America, the rising demand for software systems to streamline the healthcare process is likely to contribute towards market expansion. Moreover, highly developed network infrastructure is also expected to fuel the demand for hospital information systems. Besides this, the hospital information system market in Asia Pacific is expected to progress at a relatively higher CAGR. The increasing number of hospitals is expected to boost the Asia Pacific market. Additionally, the region is witnessing increasing approvals from the regulatory authority for new apps and healthcare information software. This in response is expected to propel growth in the global hospital information system market.
“Governments and key players are expected to initiate awareness raising programs to educate masses on the importance of hospital information software. The program is anticipated to enable growth in new untapped markets, said a lead analyst at Fortune Business Insights.
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Adoption of Cloud-based Software to Propel Growth
Among delivery modes, the demand for cloud-based solutions is expected to augment in the market. The easy user interface and higher security offered by cloud-based delivery modes will fuel their demand in the coming years. This will bode well for the overall market.
Some of the factors expected to drive the global market during the forecast period are increasing patient pool and long duration hospital stays. Moreover, increasing geriatric population is expected to positively contribute towards the global market expansion.
As per Salesforce (a major cloud-based software service provider), in the next few years, businesses in the U.K. would exhibit a major shift towards cloud-based system and software. This is expected to fuel the demand in market.
On the contrary, high cost associated with hospital information system and complications associated with the cloud-based software are certain factors that may hamper the growth in the global market.
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Key Players Leveraging on Technological Upgrades to Attain Strong Brand Presence
The global hospital information system market is a progressive market and is expected to witness impressive growth over the forecast period. The market is experiencing entry of new players. The competition among the players is very high and constantly increasing. Increasing competition is leading to rapid developments. For instance, Apple launched a new app in 2018, named Apple Health Record. The app is designed to synchronize a patient’s data from the respective Economic Health Record to the app. Several key players are also involved in mergers and acquisition to strengthen their market position. Some the key players operating in the global hospital information system market are Enli Health Intelligence, Allscripts, Curaspan Health Group, Athena health Inc., Cerner Corporation, Computer Programs and Systems Inc., CureMD Healthcare, Epic Systems Corporation, Evolent Health, Change Healthcare, GE Healthcare Technologies, GE Management Systems, Healthagen, Healthcatalyst, Homecare Homebase, and IBM Watson Health.
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Segmentation of the Global Hospital Information Systems Market
By Application
• Clinical Functions
• Electronic Medical Records
• Inventory Management
• Administrative Functions
• Others
By Delivery Mode
• Cloud-based
• On-premise
• Web-based
By Geography
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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