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The market dynamics of hospital information systems (HIS) have witnessed a substantial transformation, driven by the increasing digitization of healthcare and the imperative for efficient and integrated data management. Hospital information systems contain comprehensive and integrated modules that manages patients' data, organize workflow, and boost the overall performance of a healthcare system in hospital and health institutions.
A significant part of the healthcare information services (HIS) market landscape is formed by the ineluctably growing call for universal and continuous data sharing in medical institutions. When hospitals and healthcare facilities make the shift from keeping records that are paper based to what is known as electronic health records (EHRs), they experience increased needs for well-integrated HIS (Hospital Information Systems) solutions that consolidate all the patient data, thus making it easy for authorized healthcare workers from different departments to access all the information. This ability of EHRs to exchange information is the key element of providing full-fledged and coordinated care to patients and decreasing the probability of mistakes with the implementation of EHRs.
The impetus for better patient results as well as the data-driven decision-making have seen the industry of HIS a key driving factor in its sector dynamics. Since hospital information systems lets health care providers accumulate, process, and use the data from countless patients, this medical information system aggrandizes the accessibility to the information about all the patients. This is the data-minded strategy. It takes us to the level of evidence-based medicine, contributes to more precise clinical decisions and leads to better patient care. Besides of streamlining hospital operational activities, the functionality to integrate clinical data, administrative information, and financial data within HIS develops healthcare professionals to have a full view of the health care of patients.
COVID-19 pandemic came as a paradigm shift which did the global health care change the market way on health information systems (HIS). The need for rapid access to patient data, contact tracing, and the efficient management of resources during the pandemic highlighted the importance of robust and adaptable hospital information systems. The pandemic accelerated the adoption of telehealth solutions, remote patient monitoring, and virtual care platforms, further emphasizing the need for integrated HIS systems that can seamlessly support these new modes of healthcare delivery.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Component, Delivery Mode, Application |
Hospital Information System Market Highlights:
Global Hospital Information System Market Overview
The Hospital Information System Market size is expected to reach USD 106 Billion by 2032 at 6.2% CAGR during the forecast period 2023-2032. The automation of hospital management processes enables healthcare providers to perform in the most effective way. Hospital information system refers to a set of applications that are designed to manage healthcare-related information. Hospitals generate massive volumes of data that must be managed to maintain efficiency. Hospital management system acts as a centralized database that collects and main information related to patients, doctors, staff and helps healthcare professionals to offer a quick diagnosis for patients.
A hospital's information system's revenue management module is vital. The latest trend also emphasizes overall efficiency and clinical management. Some modules are required for all healthcare institutions, while others are optional, based on size and specialism. As a result of increased medical policy investment, hospitals must construct an effective and secure hospital information system. All activities are monitored, controlled, and combined, enhancing employee efficiency, eliminating duplication, and preventing data theft. Hospital information systems are automated and incorporate patient clinical data that help determine therapy and operation success rates. They are highly useful in ICUs for patient data management; therefore, their broad use in hospitals should assist the hospital information system market.
COVID-19 Analysis
The COVID-19 outbreak has hampered healthcare workflows worldwide. The illness has forced many industries, including healthcare, to close temporarily. It has also benefited a variety of healthcare services, including hospital information systems. In terms of access, the 'digital front door' is crucial for clinicians to comprehend. With the increased demand for hospital capacity, one of the challenges hospital IT employees face is quickly deploying EHR systems to other care settings.
Hospitals, diagnostic centers, and clinics are also interested in clinical decision support systems, electronic health records, and other technologies that help reduce pharmaceutical prescription errors, adverse drug event monitoring, and other medical errors. COVID-19 also plays an important role in the increasing rise of teleconsultations. Restrictions on mobility and travel, limited medical services, and a surge in suspected and confirmed COVID-19 infections all contribute to the current teleconsultation boom.
Hospital Information System Market Trends
Drivers
- Growing adoption of digital healthcare infrastructure
Increased adoption of advanced technologies in healthcare facilities and growing use of digital healthcare infrastructure, which enables the collection and management of data generated by hospitals, clinics, and institutes, have increased the efficiency of their services, which will continue to drive the market's growth. Additionally, growing number of patients suffering from chronic illnesses and increasing demand for cloud-based solutions is expected to boost the market during the forecast period
- Government initiatives to support the use of e-health solutions
- Large population base along with chronic disease prevalence rise
Restraint
- Shortage of skilled professionals
The shortage of skilled health workers is low. Some hospitals require all clinical establishments, software, skilled labour, and specialists to increase productivity. To ensure uniformity of healthcare practices, hospitals must use effective and safe hospital information systems.
Opportunities
- Untapped market with growing demands
Untapped potential in developing countries could lead to profitable future market opportunities. The hospital information systems automate and contain patient clinical data to improve treatment and procedure outcomes. The growing use of these systems in hospitals in developing countries is projected to benefit the hospital information system market growth.
Technology analysis
Both emerging and developed countries are struggling to achieve high standards of care that are affordable, high-quality, and low in error. Using HIS, clinicians can now improve patient outcomes while lowering costs by mining electronic patient information for systemic medical mistakes. It helps them provide cost-effective patient care while reducing resource waste. The healthcare industry is also growing due to the increased use of technologically advanced hospital management solutions. Increasing adoption of electronic health records for patient-centered treatment is also expected to boost the market growth in the coming years. EHR has emerged as a key potential segment in hospital information systems, driven by increased demand for EHR-integrated technologies and the need to simplify electronic healthcare solutions. Government initiatives to promote HER are expected to boost demand for electronic systems. Various EHR benefits result in increased system productivity and patient satisfaction.
Hospital Information System Market Segment Insights
Hospital information system Component Insights
- Hardware: Hospital information system hardware is used to store, retrieve, share, and use healthcare information, data, and knowledge for communication and decision making.
- Solutions: A custom hospital information system designed to meet organizations specific requirements.
- Services: Hospital information system vendors also offers implementation and integration, traing and education, support and maintenance, and managed services for their customers.
Hospital information system Application Insights
- Clinical Information System (CIS): A Clinical Information System (CIS) is an information system designed specifically for use in the critical care environment.
- Administrative Information System (AIS): Administrative Information Systems offers programming and technical support services for hospital administrative operations..
- Electronic Medical Record (EMR): EMR stands for electronic medical records, the digital equivalent of paper records, at clinics. EMRs contain information about the treatment and medical history of the patient.
- Laboratory Information System (LIS): Laboratory Information System (LIS) is a software that processes, stores, and manages data in all stages of medical procedures.
- Radiology Information System (RIS): A software solution that store and manage medical imaging data. Radiology Information Systems enable healthcare providers to automate data management and optimize the imaging process by leveraging the various functionalities involved in managing patient information.
- Pharmacy Information System (PIS): A Pharmacy Information System (PIS) help healthcare providers to maintain, supply, and organize drugs.
- Others: Other applications of hospital information system includes patient engagement, inventory management, and administrative functions.
Hospital information system Deployment Mode Insights
- Web-based: Web-based hospital information systems can be run on a web browser. Web applications use a combination of client-side scripts that work with server-side programs to retrieve information from a database and deliver it to users' browsers.
- Cloud-based: This type of deployment environment utilizes cloud computing to host the data which is accessible to all the users via internet. The growing adoption of cloud-based hospital management solutions is supported by its advantages such as user-friendliness, ease of installation, and ease of use. The cloud-based systems stores the data on multiple servers that are geographically separated from one another, so if one server is compromised, there is no data loss
- On-premise: In on-premise hospital information system, the data is stored in the physical servers of the organization. The maintenance and management of this server can be outsourced or maintained by the company.
Hospital information system Regional Insights
North America
Growing adoption of IT sevices in healthcare across the region is driving the North America Hospital Information System market
North America held the largest hospital information system market share in 2020, owing to the rising prevalence of chronic diseases. North America is dominating the global hospital information system market during the forecast period owing to adoption of IT services, especially in healthcare. The region's substantial share is also due to increasing demand for the quality healthcare system, increasing government initiatives, effective EHR adoption, and extensive deployment of robust IT infrastructure. Moreover, raising awareness of EHR systems is contributing to the growth of the North America hospital management system market.
Asia Pacific
Rising use of eHealth platforms and cloud computing is fueling the Asia-Pacific hospital information system market
Asia Pacific is anticipated to grow at the highest rate throughout the projection period. Growing adoption of eHealth platforms and cloud computing are propelling the APAC hospital information system market. Strict regulatory monitoring ensures data confidentiality, secure storage, user-level authorization, data traceability, and mitigation of other cyber security concerns. India and China are the most potential markets for hospital information systems solutions in the region, with their growing older population, patient pool, and healthcare infrastructure. Growing advancements in the latest technologies and supportive government programmes promote the healthcare industry's digitalization that fuels the hospital management system market.
Competitive Landscape
The hospital information system market is profitable, both for existing players as well as new entrants. Our analysis revealed that market players adopt different strategies and innovative R&D techniques to expand their business and secure their position in the market. The hospital information system Market is very competitive due to the presence of numerous participants. To expand their market shares, players are focusing on integrating technologies and developing more secure information systems. Also, firms are focusing on new healthcare markets to strengthen their market position. The companies invest in R&D activities to expand their product portfolio, further driving the hospital information system market. In addition, the market players are adopting various strategies such as mergers & acquisitions, contractual agreements, new product launches, increasing investments in R&D, and partnering with other players to expand their global footprint.
List of Key Companies Covered in this Report
- McKesson Corporation (US)
- Cerner Corporation (US)
- athenahealth, Inc. (US)
- Allscripts (US)
- Medidata Solutions Inc. (US)
- Agfa Gevaert NV (Belgium)
- GE Healthcare (US)
- Siemens Healthineers (Germany)
- Epic Systems Corporation (US)
- NextGen Healthcare (US)
- Allscripts Healthcare Solutions Inc. (US)
- Epic Systems Corporation (US)
- Greenway Health, LLC (US)
- Integrated Medical Systems (US)
- Carestream Health (US)
Recent Developments
- In October 2021, Cerner (US) launched Cerner RevElate, a patient accounting product that brings new and improved capabilities to the Cerner revenue cycle management portfolio.
- In October 2021, Allscripts Healthcare, LLC (US) launched Allscripts practice management, an AI-based scheduling application that utilizes real-time provider, practice, and industry data to optimize healthcare providers' work efficiency.
- In October 2021, Medidata (US) launched Medidata Link to connect patient-level clinical trial data and real-world data. Medidata Link can be fully integrated with Medidata Unified Platform that provides clinical trials run on Medidata Rave EDC.
Report Overview
The study covers the existing short-term and long-term market effects, as well as helping decision-makers to draught short-term and long-term plans for businesses by region. The report covers major regions in North America, Europe, Asia-Pacific, Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's Five Forces, value chain, and impact of COVID on the market.
Hospital Information System Market segmentation
Hospital Information Systems Component Outlook
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Hardware
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Solutions
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Services
Hospital Information System Delivery Mode Outlook
- Web-based
- Cloud-based
- On-premise
Hospital Information System Application Outlook
- Clinical Information System
- Administrative Information System
- Electronic Medical Record
- Laboratory Information System
- Radiology Information System
- Pharmacy Information System
- Others
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