Austin, United States, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Hospital Information System Market Size Analysis:
According to SNS Insider, The Hospital Information System Market Size was valued at USD 56.84 billion in 2023 and is expected to reach USD 100.66 billion by 2032, growing at a CAGR of 6.58% over the forecast period from 2024 to 2032.
The hospital information system (HIS) market is experiencing robust growth, fueled by the increasing demand for streamlined healthcare management, efficient patient care, and technological advancements such as cloud-based solutions and artificial intelligence (AI).
Market Overview
The demand for hospital information systems is basically based on the necessity for effective data management in healthcare, better patient care, and improved operational efficiency within hospitals. HIS pertains to systems that aim to help in managing patient records, clinical data, and hospital operations by integrating software and services. The trend of delivering high-quality healthcare services and the emphasis on the hospital's journey towards digital transformation creates a very positive scenario for the implementation of HIS solutions.
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HIS encompasses a wide range of functionalities, such as electronic health records, clinical decision support systems, billing systems, and hospital administration systems. All these systems work together to improve the operations of a hospital. The integrated solutions supporting multiple functions in a hospital help in improving operational efficiency and lowering administrative costs.
Growth in chronic diseases and an aging population are stimulating demand for better healthcare management solutions, thereby advancing the HIS market. Healthcare organizations are seeking advanced HIS solutions that provide better data analytics, cloud-based deployment models, and patient-centered services. In response, providers are investing in AI and ML technologies to optimize HIS systems and clinical outcomes.
Key Hospital Information System Companies Profiled:
- McKesson Corporation
- Cerner Corporation
- Carestream Health
- Allscripts Healthcare LLC
- Merge Healthcare Inc. (IBM)
- NextGen Healthcare
- GE Healthcare
- Siemens Healthineers
- Dedalus SpA
- General Electric Company
- Comarch SA
- Wipro Limited
- Epic Systems Corporation
- NXGN Management LLC
- Philips Healthcare
- Computer Programs and Systems Inc.
- OpenEMR
- Agfa-Gevaert N.V.
- Medidata Solutions Inc.
- Eclipsys
- Medical Information Technology Inc.
- Napier Healthcare Solutions Pte. Ltd.
- Greenway Health LLC
- Neusoft Medical Systems Co. Ltd.
Hospital Information System Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 56.84 Billion |
| Market Size by 2032 | US$ 100.66 Billion |
| CAGR | CAGR of 6.58% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
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Segmentation Highlights
By Component:
In 2023, the software segment emerged as the dominant component of the Hospital Information System market, capturing over 55.0% of the market share. This dominance is due to the crucial role software plays in managing healthcare data, such as Electronic Health Records (EHR), Clinical Decision Support Systems (CDSS), and billing systems. These systems are essential for hospitals to streamline their administrative tasks, enhance patient care, and comply with healthcare regulations. The increasing adoption of advanced software solutions, including AI, analytics, and cloud-based services, is further driving growth within this segment.
The services segment, which includes system integration, consulting, and maintenance services, is the fastest-growing segment. This growth is driven by the increasing complexity of healthcare IT infrastructure and the need for expert assistance in deploying and maintaining HIS solutions. This segment is projected to grow at a CAGR of 14.0% from 2024 to 2032, as healthcare providers outsource services to vendors to ensure smooth operation and integration of their HIS systems.
By Application:
The Clinical Information Systems (CIS) segment dominated the market in 2023, accounting for more than 30.0% of the total market share. CIS systems, including Electronic Medical Records (EMR), Patient Management Systems, and Clinical Decision Support Systems, are essential in improving patient care and clinical workflows. The growing adoption of EMRs and the increasing demand for more efficient patient care models contribute significantly to the dominance of this segment.
The Electronic Medical Records (EMR) segment is the fastest-growing within HIS applications. With healthcare systems globally pushing for digitalization and governments offering incentives for electronic recordkeeping, EMR systems are expected to experience substantial growth. The EMR market is expected to grow at a CAGR of 12% over the forecast period due to the push for efficient patient data management and improved clinical workflows.
Key Market Segments
By Component
- Software
- Hardware
- Services
By Application
- Clinical Information Systems
- Administrative Information Systems
- Electronic Medical Record
- Laboratory Information System
- Radiology Information system
- Pharmacy Information System
- Others
By Delivery Mode
- Web-based
- On-premise
- Cloud-based
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Regional Outlook
North America:
North America continued to be a market leader in the Hospital Information System market in 2023, through higher adoption rates of sophisticated healthcare IT solutions and high investment in digital health technologies. The US leads market players with significant companies such as Cerner Corporation, Allscripts Healthcare Solutions, and McKesson Corporation. Further, the region enjoys positive government initiatives such as the Health Information Technology for Economic and Clinical Health (HITECH) Act, which encourages the adoption of EHR systems. The need for HIS in North America is further aggravated by the growing prevalence of chronic diseases and the growing emphasis on patient-centric healthcare delivery models.
Yet, another major market is Europe, in which HIS is driven by the digitalization of healthcare systems in Germany, the UK, and France. European countries are keenly investing in EHR systems and healthcare IT infrastructure. The adoption of cloud-based HIS solutions is picking up pace in Europe, where healthcare organizations are seeking scalable, secure, and cost-effective solutions to expand their data management capabilities. Further, a strong support of the region toward modernizing healthcare IT has additionally helped push this market forward.
Recent Developments:
- November 2024: Oklahoma launched a Health Information Exchange designed to improve the communication between healthcare providers to enhance quality patient care. This is led by funding of USD 21 million to establish electronic health records connections within the state and enable electronic and seamless health data exchange across clinical professions for coordinated care.
- In June 2023, Oracle Cerner successfully integrated Qatar Biobank into its electronic health record. The integration will facilitate easy access to data and the simplification of research efforts, further complementing Hamad Medical Corporation's healthcare infrastructure.
This dynamic and rapidly evolving market continues to reflect the growing trend toward digital health solutions, driven by the need for more efficient, patient-centric healthcare systems globally.
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