What Has Been the Growth of the Hospital Information System Market So Far?
The hospital information system market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the market size of the hospital information system in the past few years. The market value is set to increase from $131.25 billion in 2024 to $140.89 billion in 2025, a compound annual growth rate (CAGR) of 7.3%.
The notable growth during the historic period can be linked to the escalating use of digital healthcare infrastructure, the increasing incidence of chronic diseases, and an upsurge in healthcare spending.
What Is the Forecasted Market Size and Growth Rate for The Hospital Information System Market?
The hospital information system market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the hospital information system market is anticipated to experience a swift expansion. The market is projected to soar to $208.56 billion by 2029, with a compounded annual growth rate (CAGR) of 10.3%.
This augmentation during the prediction timeframe can be attributed to various factors including elevated government initiatives, an influx of funding, widened access to healthcare, and an increased consciousness about the significance of EMR. Several trends expected to emerge during this timeframe comprise utilization of artificial intelligence for enhanced tracing, documentation, and data maintenance, emphasis on medical devices to augment patient monitoring and overall care quality, and providing electronic health record systems for structured capture, storage and sharing of patient data, with a focus on cloud-based technologies and capitalizing on strategic alliances and collaborations.
What Are the Critical Driver Fuelling the Hospital Information System Market's Growth?
The anticipated expansion of the hospital information systems market is driven by the increasing utilization of digital healthcare infrastructure. The term digital healthcare infrastructure applies to the employment of digital technologies in the healthcare industry, designed to deliver superior quality medical services, such as real-time health data tracking via wearable healthcare devices. The use of these systems in hospitals enhances patient monitoring within these facilities. For instance, Rock Health, a corporation based in the UK, conducted a survey in 2022 revealing 80% of participants had at some point used telemedicine— an 8% increase from the previous year's 72%. However, the usage of live video telemedicine remained fairly stable in 2022, with only a marginal increase of 1% from 2021. Therefore, the expanding use of digital healthcare infrastructure is fueling the growth of the hospital information systems market.
What Key Areas Define The Segmentation Of The Global Hospital Information System Market?
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
Sunsegments:
1) By Hardware: Servers, Workstations, Networking Equipment, Peripheral Devices
2) By Software: Electronic Health Records (EHR) Software, Practice Management Software, Clinical Information Systems, Revenue Cycle Management Software
3) By Services: Implementation Services, Support And Maintenance Services, Training And Consulting Services, Managed Services
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How Are Emerging Trends Reshaping The Dynamics Of The Hospital Information System Market Size?
Major players in the hospital information system market are adopting artificial intelligence as a significant trend to enhance the monitoring, record-keeping, and preservation of data. For instance, TidalHealth, a Maryland-based Hospital information system and Health Care company, providing a network of hospitals, clinics, and physicians for emergency care, initiated a partnership in August 2022. This partnership aims to improve the accuracy of patient diagnosis, alleviate clinician stress, and boost revenue with enhanced documentation. The software, driven by AI, will be employed by TidalHealth to aid physicians in diagnosing medical conditions, optimizing practitioners' workflows across its network in Maryland and Delaware. The goal of the software is to automate the chart reviews of electronic health records (EHR) for TidalHealth clinicians to ensure all diagnoses are captured, thereby improving patient safety.
Who Are the Key Players in the Hospital Information System Market?
Major companies operating in the hospital information system market include:
• Cerner Corporation
• McKesson Corporation
• General Electric Company
• Allscripts Healthcare Solutions Inc.
• Athenahealth Inc.
• Epic Systems Corp
• 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.
What Is The Most Dominant Region In The Hospital Information System Market?
North America was the largest region in the hospital information systems market in 2024. 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.
