Healthcare Information Systems Market SWOT Analysis of Top Key Player Forecasts to 2022|Reaching USD 53.2 billion

Healthcare Information Systems Market 2022

The global Healthcare Information Systems Market is estimated to grow at the rate of 7.1% in the upcoming period, reaching USD 53.2 billion by the year 2022. Integration with virtual reality solutions is expected to rule the roost in the forecast period. Augmented reality could be used for accessing information as well as reports while handling patients or without having to leave their existing operations, that too, in a completely hands-free mode, through voice command, or making supportive data appear automatically. This would be the healthcare vertical in future.

As per the latest market report published by Persistence Market Research, titled "Global Market Study on Healthcare Information Systems: Asia to Witness Highest Growth by 2022", the global healthcare information systems market was valued at US$35.2 bn in 2022 and is predicted to reach US$53.2 bn by 2022. It is expected to expand at a CAGR of 7.10% to 2022.

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As per the report, the market for healthcare information systems is fuelled by a number of factors, such as the increasing requirement for integrated healthcare systems and a large number of initiatives taken by the governments. In addition, the rising number of investments done by players operating in the healthcare sector have also augmented the growth of the market for healthcare information systems.

Furthermore, the less regenerative abilities of the aging population will increase the prevalence of fatal diseases, hence augmenting the demand for healthcare information systems. On the other hand, interoperability problems, an absence of trained and skilled professionals, and the huge maintenance cost involved in the usage of healthcare information systems may impede the growth of the market in the coming years.

Some of the companies operating in healthcare information systems market:

GE Healthcare.
Philips Healthcare.
McKesson Corporation.
Nextgen healthcare Information System Inc.
Other.

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According to the report, the market for healthcare information systems is experiencing a shift towards computerized processes from manual processes. The prime trends observed in the market include utilization of mobile devices, the launching of cloud and wireless technology coupled with patient-centric healthcare information systems. Furthermore, geographic expansion of some of the top players operating in the market is also a key trend observed within the market for healthcare information systems.

The report segments the market on the basis of delivery mode, application, component, and geography.

On the basis of delivery mode, the market is segmented into web-based, on-premise, and cloud-based healthcare information systems. In terms of components, the healthcare information systems market is segmented into hardware, software, and services.

In terms of applications, the market is segmented into pharmacy information systems (PIS), laboratory information systems (LIS), and hospital information systems. Amongst these application segments, the laboratory information systems hold the biggest share in the market. This application segment is predicted to expand at a 7.70% CAGR in the forecast horizon from 2013 to 2019.

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On the basis of geography, the market is segmented into Europe, North America, Asia-Pacific, and Rest of the World (RoW). Amongst these, Europe and North America led the market owing to the increasing requirement for integrated healthcare systems and due to the inclination towards enhanced healthcare facilities in these regions.

On the other hand, Asia is predicted to experience swift growth owing to rising demand for healthcare information systems from India and China. In addition, the increasing geriatric population and the rising occurrence of diseases such as coronary heart diseases, cancer, and diabetes in this region have also raised the demand for healthcare information systems from this region.

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