Health Information Systems Market Size To Reach USD 182.29 Billion by 2026

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Research Reports

Posted By news degree

Posted on August 2, 2021

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Rapid Urbanization and modernization, advent of technologies like cloud computing services, task management software, data analytics, efficient monitoring, evaluation services, extensive research and development are some of the factors which are expected to grow the Health Information Systems (HIS) market.

According to the current analysis of Reports and Data, the global Health Information Systems (HIS) market was valued at USD 99.29 Billion in 2018 and is expected to reach USD 182.29 Billion by the year 2026, at a CAGR of 7.9%. A health information system comprises a system designed to manage healthcare data. Healthcare Information Systems has the potential to improve the quality, safety, and efficiency of healthcare. Health care system has enabled us to cure diseases, extend lives, improve the well-being and improve the quality of life. Through the use of secure health information systems, health care will further benefitted from advancements that are making sure health information is confidential, available when and where it is needed, contributing to safer, higher quality, more coordinated, and more efficient and less costly care for everyone. A number of tools exist and are being developed using help health information technology (IT) to plan and enhance the service provided to the patient and evaluate health.

Health Information Systems (HIS) market is expected to gain traction due to the rapid rate of improvements in the Healthcare services around the globe. The incorporation of artificial intelligence and internet of things are providing cutting edge innovation healthcare information system market. Furthermore, many governments and non-profit organization are collaborating to improve the funding scenario and to develop the system that allows doctors to better keep track of your health information. These factors are expected to influence the market growth positively during the forecast period. Furthermore, rising awareness among the general masses towards self-operated health care equipment and smart wearable devices which is anticipated to supplement the growth of the market.

The growth of the Health Information Systems (HIS) market is expected to be restrained due to shortage of skilled professionals and challenges related to data security. Data security patient is the major concern among organizations as well as individuals. Healthcare information system is convenient for both the patients and service providers. It brings down the costs of healthcare drastically after the initial investments are made on the software and other technology. Foreign Investments made by the key players and continuous research and development activities funded by private and government agencies is expected to continually overcome this challenge and propel the market. It is expected that new technologies in the Health Information Systems (HIS) would help in growing the market further. However adoption and benefits could not be uniformly distributed and reliability of successful outcome has been difficult. So it is necessary to improve the quality, cost, efficiency and capacity of the healthcare service in order to meet the unmet demand of patient.

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Further key findings from the report suggest

Health Information Systems (HIS) market is growing at a CAGR of 5% in Asia Pacific followed by North America and Europe, with 8.0% and 7.7% CAGR, respectively. Due to the rising demand and awareness about the easy accessible softwares enhancing the healthcare services
Favourable funding scenario of governments and other agencies around the globe towards improving healthcare facilities in their respective countries are expected to help the Health Information System market to expand further during the forecast period
Parallel growth in the cloud computing services towards improving security issues and building safe cloud networks is expected to supplement the growth of Health Information System.
Increasing number of smart wearable health-oriented devices due to rising awareness among the masses towards personal healthcare is expected to boost the market growth of heath information system market
Medical practitioners and professionals are often reluctant to adopt to the new systems of eHealth and various other healthcare softwares. A technologically learned skill force is at the very core of the successful delivery of the eHealth products. This means that countries will have to make investments into training programmes for the healthcare workforce, as they are the end service delivery providers.
Key participants include GE Healthcare, Carestream Health, Siemens Healthineers, Allscripts, McKesson Corporation, Philips Healthcare, Merge Healthcare (IBM), Agfa Gevaert, Neusoft, and NextGen Healthcare Information Systems.

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For the purpose of this report, Reports and Data has segmented the Health Information Systems (HIS) market on the basis of product type, deployment type, application type, end use and region:

By Product Type (Revenue, USD Million, 2014 – 2025)

Hardware
Software and Systems
Services

By Deployment Type (Revenue, USD Million, 2014 – 2025)

Web-based
- Shared hosting/Mass hosting/Virtual hosting
- Dedicated hosting
- Root server hosting
- Reseller hosting
On-premise
Cloud-based

By Application (Revenue in USD Million; 2016–2026)

Hospital
- Electronic health record
- Electronic medical record
- Real-time healthcare
- Patient engagement solution
- Population health management
Pharmacy
- Prescription management
- Automated dispensing systems
- Inventory management
- Others
Laboratory
Revenue Cycle Management
Medical Imaging
- Radiology
- Monitoring analysis software
- Picture archiving and communication systems

By End Use Type (Revenue, USD Million, 2014 – 2025)

Hospitals
Diagnostic Centres
Academic and Research Institutes

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Regional Outlook (Revenue in USD Million; 2016–2026)

North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Middle East & Africa
Latin America
- Brazil

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