Healthcare Information System Market Size, Share, Growth Report 2030

Global Healthcare Information System Market Overview

The global Healthcare Information System market accounted for USD 54.6 Billion in 2020 and is expected to reach USD 105.0 Billion by 2028, growing at a CAGR of 8.5% from 2021 to 2028.     

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A health information system (HIS) refers to a system designed to manage healthcare data. This system is designed to provide and improve clinical quality and care for each patient. Some end use application in the health care industry include electronic medical records, healthcare records and personal health records.

Some IT enabled services for developing markets and physicians in developing countries viz. India and China are opening newer opportunities for the global market for healthcare information systems. The major players in the market are focusing on key developments strategies and aggressively on innovation to create an awareness among the consumer across the globe.

COVID-19 Impact Analysis:

The restrictions imposed by various nations to contain COVID had stopped the demand and supply, resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and their's a surge in demand. The pandemic has created an opportunity for the healthcare information system market as 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.

The government are taking initiative in order to increase the awareness and serve the services at their home. For instance, in December 2020, Indian Railways launched integrated Hospital Management Information System (HMIS) in South Central Railways and Northern Railways.

Growth Factors

Expanding elderly population prone to dreaded diseases along with the rise in the cases of patients suffering from chronic ailments is projected to propel the development of healthcare information system market in the forthcoming years. Apart from this, favorable government initiatives and support from private firms will lucratively leverage the business.

Low availability of healthcare IT experts along with rise in the service & maintenance cost of healthcare information system can inhibit the of healthcare information system market development in the near future. Nevertheless, new technological developments witnessed across the globe will create new growth dimensions for healthcare information system market in the years to come, thereby normalizing the impact of hindrances on the healthcare information system market, reports the study.

Report Scope:

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Delivery Mode Segment Analysis Preview

Based on Delivery Modes, the market is segmented into On-Premises Installation, Cloud Based Technology, and web-based technology.

Web-based technology held the largest revenue share in 2020 and is likely to remain dominant throughout the forecast period. This is attributed to the expansion of web technologies across verticals by using hypertext-based principles over traditional software-based applications.

Component Segment Analysis Preview

 By Component, the market is segmented into software, hardware, and services. Software segment held the major share in the market. Various healthcare organizations are looking forward to optimizing workflow by installing cloud-based solutions using software components, which are known for their greater accessibility, better security, and cost-effectiveness.

Application Segment Analysis Preview

By application, the market is segmented into Pharmacy Information System, Laboratory Information System, and Hospital Information System. Hospital Information System segment held the major share in the market. This is attributed to factors such as the presence of numerous hospitals and the growing penetration of IT in the field.

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Region Analysis Preview

Regionally, North America has been leading the worldwide healthcare information system market and is anticipated to continue on the dominant position in the years to come, states the market study. Robust demand for high quality diagnostics system is the main factor behind the dominance of the North America healthcare information system market. Furthermore, large-scale implementation & storage of electronic records in the healthcare system witnessed in the countries such as Canada and the U.S is supporting the expansion of this regional healthcare information system market.

Key Market Players & Competitive Landscape

Some of key players in Healthcare Information System market are Philips Healthcare, Siemens Healthcare, Carestream Health Inc., Cerner Corporation, Merge Healthcare Incorporated, NextGen Healthcare Information Systems Inc., GE Healthcare and McKesson Corporation.

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The global Healthcare Information System market is segmented as follows:

By Delivery Mode

• On-Premises Installation
• Cloud Based Technology
• Web-Based Technology

By Component

• Software
• Hardware
• Services

 By Application

• Pharmacy Information System
• Laboratory Information System
• Hospital Information System

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa