The Global Hospital Information System market size is estimated to reach $36,191 million by 2026, growing at a CAGR of 6.7% over the forecast period of 2021-2026.

Global Hospital Information System Market Overview

Hospital Information Systems (HIS) is a highly synchronized data system used to record, review, and manage hospital-related activities such as finance, administration, planning, and documentation. As a result, HIS increases the effectiveness of information reduces errors and documentation effort.

A hospital information system is complete software for recording all therapeutic, financial, and management information. As the amount and type of patient information increases, making the data available to employees, financiers, and regulators becomes more difficult. Failure to present the information correctly can result in inadequate care and regulatory action.

A hospital information system provides complete information about a patient's medical history and enables healthcare professionals to provide appropriate care through health checks and medication history. The growing demands to reduce health care funding waste, reduce the risk of errors, and streamline hospital workflows to achieve better results are critical drivers of market expansion.

Impact of COVID-19:

The ongoing COVID-19 pandemic has dealt a severe blow to the global economy due to the influx of trade restrictions and global lockdowns. Also, the adoption of IT in healthcare information Systems has been particularly slow and lagging behind significant industries.

This is further exacerbated by the failure in HIS implementation and resistance to technology by healthcare professionals. These challenges range from issues related to the technology itself, the healthcare setting, system users, and the regulatory environment.

Key Takeaways from Global Hospital Information System Market Report:

• Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level – for Component, application, delivery mode, and by different industry verticals.
• Understand the different market dynamics – key driving factors, challenges, and hidden opportunities.
• Get in-depth insights on your competitor's performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
• Analyze the sales and distribution channels across key geographies to improve top-line revenues.
• Understand the industry supply chain with a deep dive on the value augmentation at each step to optimize value and bring efficiencies in your processes.
• Get a quick outlook on the market entropy – M&As, deals, partnerships, product launches of all key players for the past four years.
• Evaluate the supply-demand gaps, import-export statistics, and regulatory landscape for more than the top 20 countries globally for the market.

Market Dynamics

Driver:  

Rapidly Evolving Healthcare Facilities Drives The Global Hospital Information System Market Growth.

The major factors driving the growth of global hospital information systems are rapidly evolving healthcare facilities. Recently developed clinical information software can address a broad scope of issues going from information storage to information management.

Numerous medical care cloud programming like EHR systems, EMR systems, e-prescribing, hospital telemetry systems, remote medical care have demonstrated their effectiveness in managing tremendous information and giving exact results. Besides, medical care software is additionally used to analyze patient data.

Accordingly, developing software applications in hospitals has significantly helped segmental development. In addition, data analyst in the healthcare information system industry drives the market growth. The principal drivers of health information systems are Data examination; the medical care industry continuously creates information.

Cooperative consideration Patients regularly need medicines from various medical services suppliers. At that point, the medical services information analysis can improve patient care.

Challenge: 

The necessity of highly trained staff to control the system is anticipated to slow down growth.

The major challenge encountered by hospital information systems is the necessity of trained staff to control the system, and high upkeep costs lead to the slow rate of growth in certain parts of the globe. Also, the adoption of IT in healthcare information systems is slow and lags behind that of major industries.

This is exacerbated by the failure of HIS implementation and resistance to technology by healthcare professionals. These challenges range from issues related to the technology itself, healthcare, system users, and the regulatory environment.

By Component, the market for services to grow at the highest CAGR during the forecast period.

During the forecast period, the market for services is predicted to develop at the fastest rate of XX%. The software segment dominated the market and accounted for the largest revenue share in 2020 due to the increasing demand for comprehensive, integrated software solutions in hospital settings.

Periodic up-gradation of these software solutions is necessary to sync with the latest analytics methods, enabling the facilities to efficiently manage hospital workflows. The growing adoption of technologically advanced solutions and IT infrastructure in hospitals are critical factors responsible for the fastest segment growth.

By Delivery Mode, the Hospital Information System market for Web and cloud-based to grow at the highest CAGR during the forecast period.

During the projection period, the Hospital Information System market for Disease-oriented Biobank is predicted to develop at the fastest CAGR. Web and Cloud-based held the largest share in 2020.

Various healthcare organizations are looking forward to optimizing workflow by installing cloud-based solutions known for their greater accessibility, better security, and cost-effectiveness. As a result, the cloud and web-based technology are also the fastest-growing CAGR during the forecast period 2020-2025. This is due to increased awareness in patients about web-based technologies that are cost-effective for taking care of patients.

Geographical Overview

North America to account for the largest market share during the forecast period.

North America held the largest share of the Hospital Information System market in 2020, with a global market share of 37.3%. In North America, the hospital information system market will probably lead in the development line of the worldwide market. The development is attributed to favorable government policies, rapid digitalization, and well-established healthcare infrastructure.

Hospital information systems have undergone a significant change fundamentally because of the government's push to digitalize medical care, from different activities to build the appropriation of electronic health records (EHR) to expanding investments in the healthcare information exchange systems. In the US, expanding medical services use demonstrates helpful national market development.

The Asia Pacific is set to be the fastest-growing over 2021-2026. The major drivers for the rapid growth of the Hospital Information System market in the Asia Pacific fast adoption of digitization in medical services by the arising economies are adding to the change.

The arising economies, like India and China, are the most rewarding markets because of the rising old population, expanding patient pool, and improving medical services offices.

Key Market Players

Key Players in the Global Hospital Information System Market consist of Cerner Corporation, Orion Health, Philips Healthcare, Inc, Seimens, NextGen Healthcare, Epic Systems, Mckesson Corporation, and Carestream Healths.

Recent Developments:

• On July 23, 2020, Cerner launched a new cloud-based EHR for rural, critical access hospitals on announced a new cloud-based EHR offering to help rural and acute access hospitals speed up the implementation process and reduce costs. The new EHR offering, dubbed Community Works Foundations, is a cloud-based version of Cerner's Millennium HER.

Report Coverage and Scope

The report "Global Hospital Information System Market" by Research Informatic covers an in-depth detailed analysis for the following segment covered under the scope.

By Component

• Software

• Standalone software
• Integrated software
• Services

By Application

• Clinical Information System
• Administrative Information System
• Electronic Medical Record
• Laboratory Information System
• Radiology Information System
• Pharmacy Information System
• Others

By Delivery Mode

• Web and Cloud-based
• On-Premise

Geography

• North America
• Europe
• APAC
• RoW

Global Hospital Information System Market Growth, Trend and Forecast 2021-2028

Chapter 1 Hospital Information System Market Overview
1.1 Product Overview and Scope of Hospital Information System
1.2 Hospital Information System Market Segmentation by Type
1.2.1 Global Production Market Share of Hospital Information System by Type in 2020
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
1.3 Hospital Information System Market Segmentation by Application
1.3.1 Hospital Information System Consumption Market Share by Application in 2020
1.3.2 Application 1
1.3.3 Application 2
1.3.4 Application 3
1.4 Hospital Information System Market Segmentation by Regions
1.4.1 North America
1.4.2 China
1.4.3 Europe
1.4.4 Southeast Asia
1.4.5 Japan
1.4.6 India
1.5 Global Market Size (Value) of Hospital Information System (2014-2028)

Chapter 2 Global Economic Impact on Hospital Information System Industry
2.1 Global Macroeconomic Environment Analysis
2.1.1 Global Macroeconomic Analysis
2.1.2 Global Macroeconomic Environment Development Trend
2.2 Global Macroeconomic Environment Analysis by Regions

Chapter 3 Global Hospital Information System Market Competition by Manufacturers
3.1 Global Hospital Information System Production and Share by Manufacturers (2020 and 2020)
3.2 Global Hospital Information System Revenue and Share by Manufacturers (2020 and 2020)
3.3 Global Hospital Information System Average Price by Manufacturers (2020 and 2020)
3.4 Manufacturers Hospital Information System Manufacturing Base Distribution, Production Area and Product Type
3.5 Hospital Information System Market Competitive Situation and Trends
3.5.1 Hospital Information System Market Concentration Rate
3.5.2 Hospital Information System Market Share of Top 3 and Top 5 Manufacturers
3.5.3 Mergers & Acquisitions, Expansion

Chapter 4 Global Hospital Information System Production, Revenue (Value) by Region (2014-2021)
4.1 Global Hospital Information System Production by Region (2014-2021)
4.2 Global Hospital Information System Production Market Share by Region (2014-2021)
4.3 Global Hospital Information System Revenue (Value) and Market Share by Region (2014-2021)
4.4 Global Hospital Information System Production, Revenue, Price and Gross Margin (2014-2021)
4.5 North America Hospital Information System Production, Revenue, Price and Gross Margin (2014-2021)
4.6 Europe Hospital Information System Production, Revenue, Price and Gross Margin (2014-2021)
4.7 China Hospital Information System Production, Revenue, Price and Gross Margin (2014-2021)
4.8 Japan Hospital Information System Production, Revenue, Price and Gross Margin (2014-2021)
4.9 Southeast Asia Hospital Information System Production, Revenue, Price and Gross Margin (2014-2021)
4.10 India Hospital Information System Production, Revenue, Price and Gross Margin (2014-2021)

Chapter 5 Global Hospital Information System Supply (Production), Consumption, Export, Import by Regions (2014-2021)
5.1 Global Hospital Information System Consumption by Regions (2014-2021)
5.2 North America Hospital Information System Production, Consumption, Export, Import by Regions (2014-2021)
5.3 Europe Hospital Information System Production, Consumption, Export, Import by Regions (2014-2021)
5.4 China Hospital Information System Production, Consumption, Export, Import by Regions (2014-2021)
5.5 Japan Hospital Information System Production, Consumption, Export, Import by Regions (2014-2021)
5.6 Southeast Asia Hospital Information System Production, Consumption, Export, Import by Regions (2014-2021)
5.7 India Hospital Information System Production, Consumption, Export, Import by Regions (2014-2021)

Chapter 6 Global Hospital Information System Production, Revenue (Value), Price Trend by Type
6.1 Global Hospital Information System Production and Market Share by Type (2014-2021)
6.2 Global Hospital Information System Revenue and Market Share by Type (2014-2021)
6.3 Global Hospital Information System Price by Type (2014-2021)
6.4 Global Hospital Information System Production Growth by Type (2014-2021)

Chapter 7 Global Hospital Information System Market Analysis by Application
7.1 Global Hospital Information System Consumption and Market Share by Application (2014-2021)
7.2 Global Hospital Information System Consumption Growth Rate by Application (2014-2021)
7.3 Market Drivers and Opportunities
7.3.1 Potential Applications
7.3.2 Emerging Markets/Countries

Chapter 8 Hospital Information System Manufacturing Cost Analysis
8.1 Hospital Information System Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Price Trend of Key Raw Materials
8.1.3 Key Suppliers of Raw Materials
8.1.4 Market Concentration Rate of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.3 Manufacturing Process Analysis of Hospital Information System

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
9.1 Hospital Information System Industrial Chain Analysis
9.2 Upstream Raw Materials Sourcing
9.3 Raw Materials Sources of Hospital Information System Major Manufacturers in 2020
9.4 Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders
10.1 Marketing Channel
10.1.1 Direct Marketing
10.1.2 Indirect Marketing
10.1.3 Marketing Channel Development Trend
10.2 Market Positioning
10.2.1 Pricing Strategy
10.2.2 Brand Strategy
10.2.3 Target Client
10.3 Distributors/Traders List

Chapter 11 Market Effect Factors Analysis
11.1 Technology Progress/Risk
11.1.1 Substitutes Threat
11.1.2 Technology Progress in Related Industry
11.2 Consumer Needs/Customer Preference Change
11.3 Economic/Political Environmental Change

Chapter 12 Global Hospital Information System Market Forecast (2021-2028)
12.1 Global Hospital Information System Production, Revenue Forecast (2021-2028)
12.2 Global Hospital Information System Production, Consumption Forecast by Regions (2021-2028)
12.3 Global Hospital Information System Production Forecast by Type (2021-2028)
12.4 Global Hospital Information System Consumption Forecast by Application (2021-2028)
12.5 Hospital Information System Price Forecast (2021-2028)

Chapter 13 Appendix