Your payment is in progress...

Hospital Information System Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)

Published on: Feb 2021 | From USD $4250 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 111

The hospital information system market is projected to have a significant growth rate of 11.5% during the forecast period. The major factors driving the hospital information systems include increasing demand for the quality healthcare system, technological development in the healthcare sector, and the growing usage of EHR systems.

Electronic health record (EHR) is a real-time and patient-centred record that makes information about the patient available quickly and securely to the concerned and authorized user. The EHRs contain the patient’s medical history, treatment plans, and the test results of the laboratory. EHRs improve the ability to diagnose the disease and they reduce the chances of errors in the results, which ultimately improve the outcome for the patients.

As per the study by the HealthIT.gov, around 94% of the EHR providers reported that their EHRs make the records readily available at the point of care, and 88% of the EHR providers reported that their EHRs provide benefits for clinical practices. This indicates that the providers understand the significance of the EHR systems. Owing to this, the demand for EHR systems in healthcare practices is increasing. The use of EHR is increasing, due to higher patient satisfaction, in terms of the services that they receive.

As an EHR is a major component of the hospital information system, the need to integrate and manage the EHR, along with other administrative and clinical processes, is expected to contribute to the growth of the hospital information systems market, during the forecast period. Along with that, other factors, such as the increasing demand for quality healthcare system, rising investments in the healthcare sector, and technological development in the healthcare sector, are driving hospital information systems (HIS) market.

Key Market Trends

By Mode of Delivery, the Cloud-based Segment is expected to Witness the Fastest Growth during the Forecast Period

- Cloud-based systems store data on external servers, where they can be accessed via the web, which only requires a computer with an internet connection. Cloud-based delivery helps the healthcare providers and patients access information, anytime and anywhere.
- Also, cloud-based information systems are cost-effective, particularly for small- and medium-sized practices, as there are no large hardware expenditures, and the software expense is based on a consistent subscription rate.
- Furthermore, cloud-based radiology information portals also allow physicians and medical practitioners to control access to sensitive information. Furthermore, cloud services are updated more frequently, in comparison to the on-premise counterparts, to comply with the legal, regulatory, and accreditation requirements.
- Moreover, an increasing number of hospitals, especially the chain of hospitals which need cloud-based information systems to manage data are further fuelling the market growth
- Thus, healthcare functionality can be enhanced with the use of cloud-based systems, which offer broader integration and allow easy and secure sharing of data among the healthcare professionals, which, in turn, is fueling the segment growth over the forecast period.

North America is Expected to Dominate the Market

North America hospital information system projected to have a significant market share among the regions. The growth is attributed to favourable government policies, well-established healthcare infrastructure and rapid digitalization in the healthcare system.

The landscape for hospital information systems has undergone a significant change over the past few years, primarily due to the government’s push to digitalize healthcare, from various initiatives to increase the adoption of electronic health records (EHR) to increasing investments in the healthcare information exchange systems.

In July 2017, Mackenzie Health launched a new electronic medical record (EMR) I in Canada which is implemented in collaboration with Epic, the software is the first full-suite Epic EMR to be installed in a Canadian hospital.

Furthermore, rapid digitalization of the healthcare sector is fueling the demand for hospital information systems in the region, and government programs, such as Medicare and Medicaid, are also supporting the broader use of hospital information systems.

Currently, in the United States, the healthcare sector is under continuous pressure to decrease the running costs, through approaches, such as improved workflow efficiencies. Morover, presence of the key market players and availability of advanced solutions are projected to fuel the market growth in the region.

Competitive Landscape

The market studied is a fragmented one, owing to the presence of various players. The market players are focusing on integrating the technologies and developing more secured information systems to expand their market share. Moreover, companies also focusing on developing healthcare markets to strengthen its market position.

For instance, in January 2020, iPatientCare successfully launched and exhibited its Electronic Health Record and integrated Clinical/Hospital Management System for the Indian healthcare market.

In August 2019, Philips has completed the acquisition of Carestrems Healthcare Information Systems (HCIS) business in 26 of the 38 countries in which it operates

In April 2020, Dedalus S.p.A has acquired healthcare IT portfolio of Agfa-Gevaert Group to expand its business position.

Some of the market players are Dedalus S.p.A., Allscripts Healthcare Solutions Inc., Cerner Corporation, GE Healthcare, Integrated Medical Systems, Koninklijke Philips NV, McKesson Corporation, Carestream Health, and Wipro Limited among others

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Quality Healthcare System
4.2.2 Technological Development in Healthcare Sector
4.2.3 Rising Initiatives by the Governments? for EHR
4.3 Market Restraints
4.3.1 Data Security and Privacy Concerns
4.3.2 Lack of Proper IT Infrastructure in Developing Regions
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Mode of Delivery
5.1.1 Cloud-based
5.1.2 On-premise
5.2 By Type
5.2.1 Clinical Information Systems
5.2.2 Administrative Information Systems
5.2.3 Electronic Medical Records
5.2.4 Laboratory Information System
5.2.5 Radiology Information System
5.2.6 Pharmacy Information System
5.2.7 Other Types
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Dedalus S.p.A (Agfa-Gevaert Group)
6.1.2 Allscripts Healthcare Solutions Inc.
6.1.3 Cerner Corporation
6.1.4 GE Healthcare
6.1.5 Integrated Medical Systems
6.1.6 Koninklijke Philips NV
6.1.7 McKesson Corporation
6.1.8 Carestream Health
6.1.9 Wipro Limited

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

FAQs

Market research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research.

The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process.

The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage.

Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more.

These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry.

Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website). There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Any person who has the capacity to make decisions for the business must buy the reports. These reports help management in decision making process. Market research helps person to obtain market information from different sources, and in multiple formats. It aims to study supply and demand, analyze data as per geography, age factors, demography, technology, product, psychographic & gender differences, and many other parameters. Access to in-depth market trends helps person to assess the market effectiveness. Some of the multiple techniques used for market research include customer analysis, choice modeling, competition and risk analysis, product research, advertising the research, marketing mix modeling, simulated test marketing, and more.
Market research studies several features of business environment, such as competitors, market structure, government regulations, economic trends, technological advances and financial analysis of companies, industries, and sectors. This helps person in the decision-making process of planning and implementing strategies for their markets.

The generation of research report is concerned by most clients when purchasing it. Following general steps are taken for generating reports.
1. Choose a topic.
2. Make skeleton catalogue.
3. Fill content. As for report content, there are two main information source, Primary and Secondary data collection. Secondary data collectionrefers to information searched from the Internet or data bought from database. Primary data collection refers to information concluded from telephone interview, face-to-face interview, expert’s interview, meeting etc.
4. Audit the report
5. Publish the report.

With regard to information cost, information searching costs the least, database support the second least, and telephone interview the third least. Face-face interview cost higher, in-depth interview much higher and expert interview the highest. A research may adopt all of these approaches, or just some of them.
In general, a good-quality research report needs 1-3 months to be finished. Time and method varies according to different Publishers. Thus, it’s difficult to define an exact procedure or process of making research report. Both time and cost vary. However, specialization has become a basic industry standard. Professional and dedicated products will be more and more popular.
MarketInsightsReports has focused on various fields such as Life Science, IT, Telecommunication, Food& Beverages, Energy & Power, Automotive & Transportation, Materials& Chemicals, Financial Services and many more. These market research reports are available for all regions around the globe.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website).

There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Please Choose License Type

USD $4250
USD $4750
USD $6000
USD $7500
Offer

Why Us

  • Why Us In-depth database
    Our Report’s database covers almost all topics of all regions over the Globe..
  • Recognised publishing sources Recognised publishing sources
    Tie ups with top publishers around the globe.
  • Customer Support Customer Support
    Complete pre and post sales support.
  • Safe & Secure Safe & Secure
    Complete secure payment process.