What Has Been the Progress and Growth of the Integrated Patient Care Systems Market in Recent Years?
The integrated patient care systems market has seen considerable growth due to a variety of factors.
• The size of the integrated patient care systems market has expanded at a brisk pace in recent years. The projections show that it will escalate from $23.32 billion in 2024 to $26.66 billion in 2025, with a compound annual growth rate (CAGR) of 14.4%.
The upward trend in this historic period is credited to the integration of interoperability standards, an upswing in chronic illnesses and complicated medical situations, emphasis on minimizing healthcare expenses while boosting efficiency, increasing appreciation for healthcare interoperability's significance, and prioritization on enhancing patients' results and experiences.
What Can Be Expected from the Integrated Patient Care Systems Market Size?
The integrated patient care systems market is expected to maintain its strong growth trajectory in upcoming years.
• In the imminent years, the integrated patient care systems market is predicted to experience a swift expansion, escalating to $45.4 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 14.2%.
The surge anticipated in the forecast timeframe could be due to the increasing utilization of electronic health records (EHR), a growing elderly populace along with elevated healthcare requirements, boosted consumer demand for undisturbed healthcare experiences, an upsurge in the appetite for interoperability amidst various healthcare systems, and the rising significance of patient engagement utilities. Noteworthy trends projected within this duration encompass the amalgamation of social determinants of health (SDOH) data, advances in healthcare IT technology, a transition towards value-based care and reimbursement structures, and the proliferation of telemedicine and virtual care provisions.
What Are the Critical Driver Fuelling The Integrated Patient Care Systems Market's Growth?
The surge in use of electronic health records (EHR) is projected to stimulate the expansion of the integrated patient care systems market. Electronic health records (EHR) are digital facilities that confidentially save and regulate patient health data, facilitating effective access, distribution, and examination among healthcare professionals. An upturn in demand for Electronic health records (EHR) systems can be attributed to a variety of reasons including heightened productivity, centralization and accessibility of data, interoperability, and patient involvement. Electronic Health Record (EHR) systems play a crucial part in integrated healthcare systems as they enable easier data sharing, enhanced care coordination, and superior patient results. Within integrated healthcare systems, the interoperability of EHRs is vital to assure patient details are securely and proficiently transmitted through multiple healthcare environments. For example, as reported by The Office of the National Coordinator for Health Information Technology, a US-based federal agency handling health information technology, in 2022 the nationwide percentage of individuals given access to their online medical records or patient portal escalated to 73% from the previous 59%. Hence, the rising uptake of electronic health records (EHR) is fueling the prosperity of the integrated patient care systems market.
How Is The Integrated Patient Care Systems Market segmented?
The integrated patient care systems market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Delivery Mode: Web Or Cloud-Based Systems, On-Premise Systems, Hybrid Models
3) By Application: Electronic Health Or Medical Records, Real-Time Healthcare, Patient Engagement, Prescription Management, Other Applications
4) By End User: Hospitals, Clinics, Diagnostic Centers, Pharmacies, Other End Users
Subsegments:
1) By Software: Electronic Health Record (EHR) Systems, Patient Monitoring Software, Clinical Decision Support Systems (CDSS), Hospital Information Systems (HIS)
2) By Hardware: Patient Monitoring Devices, Diagnostic Equipment, Medical Imaging Systems, Infusion Pumps
3) By Services: Installation and Deployment Services, Maintenance and Support Services, Training and Consulting Services, Data Integration Services
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How Are New Trends Impacting The Size Of The Integrated Patient Care Systems Market?
Leading organizations in the integrated patient care systems sector are concentrating on creating innovative solutions such as patient support services to boost care coordination and patient engagement. These services comprise a series of healthcare provisions tailored to offer continuous support, resources, and relevant information to patients, thus helping them to manage their health problems more effectively. Such services also integrate with different aspects of healthcare provision. For instance, Inizio Engage, a pharmaceutical firm based in Austria, unveiled Patient Access Services in July 2023. This comprehensive suite is aimed at improving the patient experience, particularly for those grappling with specialty, rare, and orphan diseases. The goal of this launch is to enhance adherence to treatment and the overall health outcomes by offering personalized support throughout the often convoluted path to diagnosis and treatment.
Who Are the Key Players In The Integrated Patient Care Systems Market?
Major companies operating in the integrated patient care systems market are:
• McKesson Corporation
• International Business Machines Corporation
• Oracle Corporation
• GE HealthCare
• Koninklijke Philips N.V.
• Cerner Corporation
• Epic Systems Corporation
• Allscripts Healthcare LLC
• eClinicalWorks
• Siemens Healthineers
• InterSystems Corporation
• Medical Information Technology Inc.
• Computer Programs and Systems Inc.
• Optum Inc.
• Vocera Communications Inc.
• Advantech Co. Ltd.
• CareCloud Inc.
• Greenway Health LLC
• NantHealth Inc.
• CureMD
• GetWellNetwork Inc.
• PatientSafe Solutions Inc.
• SONIFI
• Compulink Advantage
What Is The Most Dominant Region In The Integrated Patient Care Systems Market?
North America was the largest region in the integrated patient care systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the integrated patient care systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
