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%.
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Some of the companies operating in healthcare information systems market:
- GE Healthcare.
- Philips Healthcare.
- McKesson Corporation.
- Nextgen healthcare Information System Inc.
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.
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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.
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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.
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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.