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.
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.
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.
Several 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 theirs 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 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:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
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 a large number of hospitals and the growing penetration of IT in the field.
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.
The global Healthcare Information System market is segmented as follows:
By Delivery Mode
By Component
By Application
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Delivery Mode
FIG NO. 2. Market Attractiveness Analysis, By Component
FIG NO. 3. Market Attractiveness Analysis, By Application
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Healthcare Information System Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Delivery Mode, 2020 & 2028
FIG NO. 8. Global Healthcare Information System Market for On-Premises Installation, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Healthcare Information System Market for On-Premises Installation, By Country, 2020 & 2028
FIG NO. 10. Global Healthcare Information System Market for Cloud Based Technology, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Healthcare Information System Market for Cloud Based Technology, By Country, 2020 & 2028
FIG NO. 12. Global Healthcare Information System Market for Web-Based Technology, Revenue (USD Billion) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Healthcare Information System Market for Web-Based Technology, By Country, 2020 & 2028
FIG NO. 14. Market Revenue Share, By Component, 2020 & 2028
FIG NO. 15. Global Healthcare Information System Market for Software, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Healthcare Information System Market for Software, By Country, 2020 & 2028
FIG NO. 17. Global Healthcare Information System Market for Hardware, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Healthcare Information System Market for Hardware, By Country, 2020 & 2028
FIG NO. 19. Global Healthcare Information System Market for Services, Revenue (USD Billion) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Healthcare Information System Market for Services, By Country, 2020 & 2028
FIG NO. 21. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 22. Global Healthcare Information System Market for Pharmacy Information System, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Healthcare Information System Market for Pharmacy Information System, By Country, 2020 & 2028
FIG NO. 24. Global Healthcare Information System Market for Laboratory Information System, Revenue (USD Billion) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Healthcare Information System Market for Laboratory Information System, By Country, 2020 & 2028
FIG NO. 26. Global Healthcare Information System Market for Hospital Information System, Revenue (USD Billion) 2016 – 2028
FIG NO. 27. Comparative Revenue Analysis of Healthcare Information System Market for Hospital Information System, By Country, 2020 & 2028x`
FIG NO. 28. Global Healthcare Information System Market Revenue Share, By Region, 2020 & 2028
FIG NO. 29. North America Healthcare Information System Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 30. Porter’s Five Forces Analysis for Global Healthcare Information System Market
FIG NO. 31. PEST Analysis for Global Healthcare Information System Market
FIG NO. 32. Pricing Analysis for Global Healthcare Information System Market
FIG NO. 33. Value Chain Analysis for Global Healthcare Information System Market
FIG NO. 34. Company Share Analysis, 2019
FIG NO. 35. Radar Determinant Chart, 2019
FIG NO. 36. Company Strategic Developments – Heat Map Analysis
FIG NO. 37. Philips Healthcare Business Segment Revenue Share, 2020 (%)
FIG NO. 38. Philips Healthcare Geographical Segment Revenue Share, 2020 (%)
FIG NO. 39. Market Channels
FIG NO. 40. Marketing Channel Development Trend
FIG NO. 41. Growth in World Gross Product, 2008-2018
FIG NO. 42. Research Methodology – Detailed View
FIG NO. 43. Research Methodology
List of Tables
TABLE NO. 1. Global Healthcare Information System Market: Snapshot
TABLE NO. 2. Quarterly Healthcare Information System Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Healthcare Information System Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Healthcare Information System Market for On-Premises Installation, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Healthcare Information System Market for Cloud Based Technology, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Healthcare Information System Market for Web-Based Technology, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Healthcare Information System Market for Software, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10 Global Healthcare Information System Market for Hardware, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Healthcare Information System Market for Services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Healthcare Information System Market for Pharmacy Information System, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Healthcare Information System Market for Laboratory Information System, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Healthcare Information System Market for Hospital Information System, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Healthcare Information System Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Healthcare Information System Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Healthcare Information System Market Revenue, By Delivery Mode, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Healthcare Information System Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 19. North America Healthcare Information System Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Healthcare Information System Market Revenue, By Delivery Mode, 2016 – 2028 (USD Billion)
TABLE NO. 21. U.S. Healthcare Information System Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 22. U.S. Healthcare Information System Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 23. Canada Healthcare Information System Market Revenue, By Delivery Mode, 2016 – 2028 (USD Billion)
TABLE NO. 24. Canada Healthcare Information System Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 25. Canada Healthcare Information System Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 26. Mexico Healthcare Information System Market Revenue, By Delivery Mode, 2016 – 2028 (USD Billion)
TABLE NO. 27. Mexico Healthcare Information System Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 28. Mexico Healthcare Information System Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 29. Drivers for the Healthcare Information System Market: Impact Analysis
TABLE NO. 30. Restraints for the Healthcare Information System Market: Impact Analysis
TABLE NO. 31. Major Buyers of Healthcare Information System
TABLE NO. 32. Distributors/Traders List of Healthcare Information System
TABLE NO. 33. Global Healthcare Information System Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 34. Global Healthcare Information System Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
This report is based on in-depth qualitative and quantitative analyses of the global Healthcare Information System by Delivery Sourcess market. Zion Research has collected and analyzed key data belong to the global Healthcare Information System by Delivery Sources market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Healthcare Information System by Delivery Sources across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Healthcare Information System by Delivery Sources industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Healthcare Information System by Delivery Sources market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Health information system collects data from the health sector and transfers information electronically. Health information system plays an important role in the clinical care and hospital operations. The health information system provides the underpinnings for decision making and has four key functions such as data generation, compilation, analysis, and synthesis.
The health information system market is mainly driven by increasing incidence and prevalence of chronic diseases coupled with the aging population. Moreover, increasing adoption of advanced healthcare information system in various healthcare organizations are expected to have the positive impact on health information system market. Some of the key drivers such as government initiatives, initiatives from the private and public sector around the world coupled with rapid technological enhancements are expected to propel the market growth in the near future. However, scarcity of healthcare IT professionals and high maintenance & service cost may hamper the market growth over the forecast period. Nonetheless, technological advancement is expected to open up new growth opportunities in the years to come.
Based on delivery mode, the market can be segmented into the on-premises installation, cloud-based technology, and web-based technology. The cloud-based technology was the largest segment on account of increasing pressure to reduce healthcare costs while maintaining the quality of care provided to patients. According to the study, currently, more than 80% healthcare organizations are using cloud services. On-premises installation and web-based technology are expected to show significant growth in the years to come.
The market can be segmented on the basis of components including software, hardware, and services. Software segment accounted for the largest share of total revenue generated in 2016. This growth can be contributed to increasing IT spending in developed regions. Service is another key outlet of this market and is expected to witness strong growth in the near future.
By applications, the market can be classified into hospital information system, pharmacy information system and laboratory information system. Hospital information system was the leading segment and is expected to continue its dominance while expanding at a CAGR of 6.5% during forecast period. Laboratory information system is expected to exhibit significant share over the next few years. This growth is mainly due to increase chronic disease prevalence coupled with utilization of laboratory information system for enhancing laboratory workflow efficiency.
In terms of revenue, North America is estimated to account for the largest share of the global healthcare information system market. Strong demand for quality diagnostics and initiatives undertaken by governments are the key factors driving the growth of the healthcare information system market in North America. Europe was the second-largest share of the market. Asia-Pacific is expected to witness the fastest growth in the near future owing to growing awareness and high demand for better healthcare facilities.
Some of the key players in healthcare information system market include Philips healthcare, GE healthcare, Epic Systems Corporation, NextGen healthcare information systems Inc, Carestream health Inc., Siemens healthcare, Merge healthcare Inc, Cerner Corporation and McKesson Corporation. A majority of the leading players in the healthcare information system market are pursuing the strategies of new product launches, product deployments, and agreements.
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The global Healthcare Information System market was valued at USD 54.6 Billion in 2020.
The global Healthcare Information System market is expected to reach USD 105 Billion by 2028, growing at a CAGR of 8.5% between 2021 to 2028.
Some of the key factors driving the global Healthcare Information System market growth Expanding elderly population prone to dreaded diseases along with the rise in the cases of patients suffering from chronic ailments
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.
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