The global healthcare information systems market is expected to register a CAGR of 10.0% during the forecast period of 2018 to 2023.
Healthcare information technology offers solutions for security and data management of information related with healthcare. Currently, information technology has more effect on the cost quality and safety associated with healthcare. Some commonly used applications in the healthcare industry include electronic medical records, healthcare records and personal health records.
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Factors such as increasing cost of healthcare and mounting prevalence of certain fatal diseases including cancer, coronary heart diseases etc, also increasing geriatric population are driving the growth of the healthcare information systems market. The healthcare information systems market is largely driven by increase in adoption of advanced technologies in healthcare facilities. Growing usage of digital healthcare infrastructure, which helps in collecting and managing information generated by hospitals, clinics, and institutes, has enhanced efficiency and effectiveness of their services.
Segmentation
The global healthcare information systems market is segmented based on type, components, deployment, end user, and region.
On the basis of type, the market is segmented into hospital information systems, pharmacy information systems, laboratory information systems, medical imaging information system, revenue cycle management. The hospital information systems segment is sub-segmented into electronic health record, electronic medical record, real-time healthcare, patient engagement solutions, population health management and others. The pharmacy information systems segment is sub-segmented into prescription management, automated dispensing systems, inventory management and others. The medical imaging information System is sub-segmented into radiology information systems, monitoring analysis software, picture archiving & communication systems and others. Based on components, the market is divided into two, i.e., Software and Hardware. Based on deployment, the market is divided into web-based, on premise and cloud-based. By end user, the market is divided into hospitals, diagnostics centre, academic and research institution, and others. On the basis of region, the market is segmented into the Americas, Europe, Asia Pacific and the Middle East & Africa.
Regional Analysis
The Americas leads the global market with largerst healthcare information systems market share. This can be attributed due to growing elderly population and presence of major market players within the region. Moreover, the presence of developed economies like U.S. and Canada within the region boost the market growth.
In 2017, followed by the Americas, Europe stood second in the global market owing to the presence of a well-developed healthcare infrastructure, increasing awareness and high healthcare expenditure. Asia Pacific was estimated to be the fastest growing region in 2017. This can be attributed due to the high contamination rate, increasing household income and growing penetration of the market players within the region. Moreover, rapidly growing pharmaceutical sector within the region boosts the market to grow. On the other hand, the Middle East and Africa held the least share in the global healthcare information systems market. This can be attributed due to the presence of poor economies, stringent government policies and low per capita income, especially within the African region. A majority of the of the market share within the Middle East & Africa is estimated to be held by the Middle East due to increasing government funding for healthcare, improving healthcare facilities and presence of developed economies like United Arab Emirates, Saudi Arabia, Kuwait, Dubai, and others.
Key Players
Some of the key players in the global healthcare information systems market are Agfa-Gevaert N.V.
Allscripts Healthcare Solutions Inc., Athenahealth Inc., Carestream Health, Cerner Corporation
GE Healthcare, McKesson Corporation, Medidata Solutions Inc., NextGen Healthcare, Philips Healthcare, Siemens Healthineers.
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