Healthcare information technology proffers solutions for security and data management of information related with healthcare. Nowadays, information technology has more impact on the cost quality and safety associated with healthcare. Some widely used applications in the healthcare industry include electronic medical records, healthcare records and personal health records. In 2013, the global healthcare information systems market registered revenues worth US$ 35.2 billion, which are anticipated to raise up to US$ 53.2 billion by the end of 2019. Over the forecast period 2013-2019, the global market for healthcare information systems will expand at a CAGR of 7.1%.
Key Market Dynamics
Growing aging population, rising cost of healthcare and escalating prevalence of certain fatal diseases including cancer, coronary heart diseases etc. are the key driving factors of the global healthcare information systems market. Several governments as well as healthcare service providers are now adapting these healthcare information systems to meet the growing need of healthcare in a cost-effective way for medical purposes. Several IT enabled services for emerging markets and physicians in developing countries viz. India and China are opening newer opportunities for the global market for healthcare information systems.
However, lack of trained and skilled professionals and high expenses of maintenance and services and issues related with interoperability are the factors which are hampering the market growth of global healthcare information systems. Certain trends observed in the global market for healthcare information systems include growing popularity of cloud computing as well as wireless along with the focus towards healthcare information of patients.
The global market for healthcare information systems is categorized into application type, delivery mode and component type. Based on application type, the segmentation of the global market for healthcare information systems is done into hospital, pharmacy and laboratory. Among these, the laboratory segment has the largest market for healthcare information systems. On the basis of delivery mode, the segmentation of the global market for healthcare information systems is done into on-premise, web-based, and cloud based technology. Based on component type, the segmentation of the global market for healthcare information systems is done into software, hardware and services.
Based on geographical region, the global market for healthcare information systems is segmented into Europe, North America, APAC and Rest of the World.
During the forecast period, the Europe and North America region is anticipated to remain dominant in the global market for healthcare information systems owing to rising demand for better facilities of healthcare and increasing needs of integrated system of healthcare. Also, the APAC region is estimated to exhibit higher growth rate owing to the growing market demand of healthcare information systems in various emerging markets.
Key Market Players
Major companies operating in the global market for healthcare information systems include Philips Healthcare, Nextgen healthcare Information System Inc., GE Healthcare and McKesson Corporation, among others.
A healthcare information system is an extensive integrated system which captures, stores, manages and transmits information related to the health of individuals or the activities of organizations that work within the healthcare sector. These systems are supported with client-server architectures for networking and processing. Healthcare information systems ensure proper collection and exchange of patient data between hospitals, labs or clinics. Persistence Market Research’s recently published report on the global healthcare information systems market provides an extensive assessment of the market, evaluating the growth prospects for a six-year forecast period 2013-2019. It comprises key trends and restraints impacting the overall market growth, recent trends and upcoming opportunities, market segmentation, regional analysis, and key players vying for the leading market position. Starting with an overview of the global healthcare information systems market, the report further analyzes the factors that positively and negatively influence the demand for healthcare information systems. It provides deep insights into why healthcare information systems is expected to gain higher traction in developing markets, and what are the deterring factors that will affect the market growth over the forecast period, 2013-2019. Latest trends and opportunities sections of the report highlight the most valuable data to recognize the most lucrative opportunities for the market growth.
Segmentation of the global market for healthcare information systems focuses on various healthcare information systems. The geographical analysis of the global market examines the market status in key regions viz. Europe, North America, APAC and Rest of the World. The market report elaborates on why developing markets may witness robust growth and outpace the long-term leader during the forecast period. The next section of the report includes all the leading companies competing in the market for a leading position. Strong presence of global players and established local brands makes the landscape extremely competitive. The report throws light on the growth pattern, revenues, and upcoming opportunities for each of the players.
To deduce the global healthcare information systems market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by application type, delivery mode and component type and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global healthcare information systems market. The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global healthcare information systems market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global healthcare information systems market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global healthcare information systems market. Further, to understand key segments in terms of their growth and overall global healthcare information systems market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global healthcare information systems market.
Some of the companies operating in healthcare information systems market: