Global Hospital Information System Market Size 2024, Forecast To 2033

11 Mar, 2024

The hospital information system market size has experienced robust growth in recent years, expanding from $121.74 billion in 2023 to $133.34 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. This growth in the historic period can be attributed to the increasing utilization of digital healthcare infrastructure, a rise in the prevalence of chronic diseases, and an upsurge in healthcare expenditure. Moving forward to 2028, the market is anticipated to witness rapid expansion, reaching $196.01 billion at a CAGR of 10.1%. Factors contributing to this growth in the forecast period include escalating government initiatives, increased funding, enhanced healthcare access, and a growing awareness of the significance of electronic medical records (EMR). Key trends in this timeframe involve the integration of artificial intelligence for improved data tracking, recording, and maintenance, emphasis on medical devices to enhance patient monitoring and overall care quality, the provision of electronic health record platforms for structured data management, utilization of cloud-based technologies across diverse applications, and strategic partnerships and collaborations to broaden product portfolios and extend application areas.

Global Hospital Information System Market Key Driver

The anticipated growth in the utilization of digital healthcare infrastructure is set to drive the expansion of the hospital information systems market. Digital healthcare infrastructure, involving digital technologies in the healthcare sector, aims to enhance medical services by utilizing wearable medical devices for real-time tracking of medical data. The incorporation of digital healthcare infrastructure in hospitals plays a crucial role in improving patient monitoring. An example of such digital transformation is India's Ayushman Bharat program launched in September 2021, a central government digital mission aimed at revolutionizing the country's health facilities and infrastructure by connecting digital health solutions for hospitals nationwide. As a result, the increasing adoption of digital healthcare infrastructure is a driving force behind the growth of the hospital information systems market. The market size for hospital information systems is expected to reflect this trend in 2023, and by 2024 and 2028, the continuous integration of digital healthcare infrastructure is projected to contribute to the market's ongoing growth.

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Global Hospital Information System Market Segments

The hospital information system market covered in this report is segmented –
1) By Components: Hardware, Software, Services
2) By Type: Clinical Information Systems, Administrative Information Systems, Electronic Medical Records, Laboratory Information Systems, Radiology Information Systems, Pharmacy Information Systems, Other Types
3) By Deployment: Web-Based, On-Premises, Cloud Based
4) By End-User: Hospitals, Insurance Companies, Other End-Users
By Geography:The regions covered in the hospital information system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. North America was the largest region in the hospital information systems market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Major Hospital Information System Industry Players

Cerner Corporation, McKesson Corporation, General Electric Company, Allscripts Healthcare Solutions Inc., Athenahealth Inc., Epic Systems Corp, Koninklijke Philips NV, NextGen Healthcare, Computer Programs and Systems Inc, Dedalus SpA, Innovaccer, 1mg, Practo, Medi Buddy, Indegene, Ping A Good Doctor, JD Health, CISCO Systems Inc, Honeywell Lifesciences, Philips Healthcare, Agfa-Gevaert NV, Siemens Healthineers AG, Better Doc, Biovotion, Coimbra Genomics, Dacadoo, Doctoralia, NeurNation, Nutrino, TrialReach, N-iX, Intersog, Selleo HQ, DeSmart Software House, Exadel Inc, Softarex Technologies, Canadian Health Systems Inc, Change Healthcare, MED e-care Healthcare Solutions Inc, Optum, Oracle Corporation, Infor Inc, CVS Health, MV Sistemas, Greenway Health, CureMD Healthcare, Mubadala Health, G42 Healthcare, Etisalat, Vezeeta, OKADOC, Safermom, Medsaf, MDaaS Global, Hudibia, AMD Global Telemedicine Inc, Medtronic PLC.

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Hospital Information System Market Overview

Hospital information systems refer to systems that collect, store, manage, and transmit patients' medical records. This system brings together all the information and processes of a hospital on a single platform. The hospital information systems are used to store and manage healthcare data.

Hospital Information System Global Market Report 2023 provides data on the global hospital information system market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hospital information system market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.