Hospital Information System is an Integral Part of Every Healthcare Facility and Delivers Specified Outputs under Clearly Defined Boundaries
" The global hospital information system market is expected to witness a CAGR of 11.2% during the forecast period 2019–2025 "
Bangalore, India, December 16, 2019: With its recently published study “Global Hospital Information System Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global hospital information system market is expected to grow at a steady rate, i.e., 11.2% CAGR, during the forecast period 2019–2025. An increase in the incidence & prevalence of chronic diseases and a growing aging population have increased the rate of hospitalization across the globe. The acceptance of technologies to support healthcare facilities has increased in the past few years, which has entirely transformed the industry. Healthcare IT is the primary significant factor fuelling the growth of the global hospital information system market. According to the World Health Organization, proper collection, management, and use of information within healthcare systems will determine the system’s effectiveness in detecting health problems, defining priorities, identifying innovative solutions, and allocating resources to improve health outcomes.
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The electronic medical records have imputed a definitive share in the market with increasing adoption of advanced hospital information systems aiding the healthcare services toward modernization. The significant factors boosting the demand for EMR include the rising geriatric population and an increasing number of chronic diseases that need EMR to record personal health. The increased usage of EMR simplifies health management among people, making it more efficient and provide a better quality of healthcare. Further, this assists in improving patient outcomes as healthcare providers will have access to complete and accurate information. However, market growth is hampered by the high cost of EHR and growing concerns regarding patient data safety & security due to cyber-crimes.
The overall market is segmented into hardware, software, and services and further into the mode of delivery and application types. The majority of the hospitals have the traditional infrastructure and are now focusing on the modernization of equipment. The growth of data produced by medical and clinical communities has huge requirements in advanced resources and techniques to store data.
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The addition of hardware or installation of new medical units in hospitals is improvising the techniques and processing of medical records, which help physicians to monitor and treat patients accurately. This has developed interest among many governments, especially from emerging countries, to improve the hospital infrastructure through the use of advanced science and technology. A hospital information software achieves excellent quality scores in terms of administration services that include management of patient data, medication, and other such documents. Also, a hospital information system can assist medical officers and staff in avoiding common errors that certainly cannot be afforded in healthcare by tracking every single data needed. The best part of the HIS is that it can incorporate better revenue management with a customized hospital management software solution. Electronic health record (EHR) software is another type of healthcare software that contains detailed information about patients. Typically, electronic health records contain data about a patient’s demographics, medical history, laboratory results, and allergies.
Cloud-based technology and web-based medical services (WBMS) such as eHealth, mHealth, and telehealth seem feasible with vast usage in the hospital industry. Private cloud service provides exceptional control over patient data that proves convenient to internal or outsourced hospital staff and increases its preference for escalating industry growth. WBMS is considered as one of the most innovative services in medical technology in the 21st century. However, promoting these services is still a challenge. There are three impediments: perceived usefulness, behavior change, and medical law limitation.
North America dominates the global hospital information system market due to continuous innovations in technology with a growing aging population followed by a fast-moving lifestyle. The US and Canada have been successful in implementing electronic records in their healthcare system, which as a result, would boost the overall market growth. Moreover, the presence of developed IT and healthcare infrastructure, promising government initiatives in executing a hospital information system in the current healthcare infrastructure, and constantly improving reimbursement scenario would further propel the market growth. Europe is anticipated to be the second-largest region in terms of revenue share owing to the presence of several medical device manufacturing companies that provide a huge marketplace for various hardware and software. Asia Pacific is expected to be the fastest-growing regional market for hospital information systems owing to the increased incidence of chronic diseases.
“Hospital information systems offer enhanced patient care with modern solutions helping medical facilities to overcome their biggest challenges in the healthcare industry. From managing departments, patients, and staff, reducing revenue and making better decisions are the reasons for HIS being configured that meet all the necessities and needs of the departments. The usage of IT is likely to transform patient engagement experience, addressing the health of the growing population, and include proper health plans remotely.” – Mohammed Azhar, Team Lead (Research – Healthcare) at Infoholic Research
Key Segments of the Report Include:
- By Product Type
- By Mode of Delivery
- Cloud-based Technology
- Web-based Technology
- On-premises Installation
- By Applications Type
- Electronic Medical Records
- By End-users
- Healthcare Providers
- Healthcare Facilities
- By Regions
- North America
Ms. Kathakali Basu
Infoholic Research LLP