Hospital Information System Market to Hit USD 102.21 billion by 2030 owing to technological progress in health care.

The SNS Insider report indicates that the Hospital Information System Market was valued at USD 64.13 billion in 2022, and is expected to reach market size of USD 102.21 billion by 2030, with a compound annual growth rate (CAGR) of 6% expected over the forecast period from 2023 to 2030.

Based on SNS Insider's research, the delivery of health data to the relevant stakeholders as soon as possible is dependent on a healthcare information system that provides seamless access to all necessary medical care and IT.

Market Report Scope -

Revenue management aspects are an important module in the hospital information system. In addition, improvements in overall efficiency and clinical management are becoming increasingly important in the current trend. Although all clinical institutions require some modules, the size and specialised areas of care covered by each institution determine the requirement for others.

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The major key players In Hospital Information System Market
- Allscripts, Cerner Corporation,
-GE Healthcare,
-McKesson Corporation,
-Carestream Health,
-NextGen Healthcare,
-Philips Healthcare,
-Siemens Healthineers,
-Merge Healthcare Inc.
-and other players.

Market Growth Factors-

Increasing demand for better healthcare facilities & increasing initiatives by governments of various countries around the world
A range of ICT projects using information and communication technologies to improve the efficiency and effectiveness of public health systems has been launched by governments from different countries around the world. The ICT sector is constantly being planned and invested by these governments. The National Health Portal of the Indian Government provides information, aimed at raising citizens' awareness about health conditions and availability of a variety of treatments, government programmes and services within the healthcare sector, in multiple languages to residents and interested parties.

Hospital Information System Market Segmentation Analysis -

In 2022, the revenue cycle management segment accounted for 66.2% of total market share. This is due to the need to reduce medical billing errors, to reduce healthcare reimbursements, to shift the trend towards the development of synchronized management systems, and to increase the need to optimise the flow of information in hospitals and other healthcare facilities.

By Component
-Hardware
-Solutions
-Services

By Delivery Mode
-Cloud-based
-On-premise

By Application
-Clinical Information System
-Administrative Information System
-Electronic Medical Record
-Laboratory Information System
-Radiology Information System
-Pharmacy Information System

In 2022, the hospital segment accounted for 76.4% of total market share. Increased efficiency of staff has resulted in easier and more organised care for patients as a result of the growing use of healthcare information systems at hospitals. It will help to manage the administrative, financial and clinical aspects of hospitals with a view to efficiently maintaining hospital inventories and patient records. The adoption of hospital information systems is also increasing due to technological advances in cloud-based systems.

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Key Regional Development -

In 2022, North America accounted for 52.0% of the market, in particular due to factors like a strong economy and presence of hospitals, advanced research centres, universities and medical device manufacturers from this area. Potential growth opportunities for market players in the area of healthcare information technology services are created by major hospitals and research centres such as Mayo Clinic, University of Maryland Medical Center, Cleveland Clinic, St. Jude Children's Research Hospital or John Hopkins Health System.

Due to the increase in government healthcare spending, Asia Pacific is the fastest growing regional market with high demand for health information technology. Furthermore, the main drivers of demand for the market in this region are increasing healthcare expenditure in developing Asian countries, as well as improvements in healthcare infrastructure, due to the growth in the adoption of advanced technologies to streamline hospital procedures and reduce medical costs.

Key Takeaway from Hospital Information System Market Study-

The growth of the global hospital information system market is expected to be driven by rapidly developing healthcare infrastructures. In addition, the Delhi government approved an INR 13.9 billion project to set up a cloud based Integrated Health Information Management System in all of its hospitals during August 2021.

The growth of the global hospital information system market is expected to be supported by introducing new products from large manufacturers.

Recent Development Related to Hospital Information System Market -

In December 2021, Cerner made an announcement in December 2021 that it had been purchased by Oracle. Through this acquisition, the companies will transform healthcare delivery by providing healthcare professionals with the information to make better treatment decisions.

In December 2021, In the Netherlands, Royal Philips has entered into a partnership with Ijssel land Hospital, which provides healthcare services in Capelle. By focusing on digitalisation, optimisation and innovation as well as the purchase of patient monitoring and radiology solutions which include CT and MRI systems, this partnership aims to improve patients' care in the region.

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Table of Contents

1.Introduction

2.Research Methodology

3.Market Dynamics

4.Impact Analysis

4.1COVID-19 Impact Analysis

4.2.Impact of Ukraine- Russia war

4.3.Impact of Ongoing Recession on Major Economies

5.Value Chain Analysis

6.Porter's 5 Forces Model

7.PEST Analysis

8.Hospital Information System Market Segmentation, By Component

9.Hospital Information System Market Segmentation, By Delivery Mode

10.Hospital Information System Market, By Application

11. Regional Analysis

12. Company profile

13.Competitive Landscape

14.Use Case and Best Practices

15.Conclusion

continued

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