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High Acuity Information Systems Market Overview 2024: Global Expansion and Innovations
High Acuity Information Systems Market Overview
According to The Business Research Company's, The high acuity information systems market size has grown rapidly in recent years. It will grow from $10.84 billion in 2023 to $11.95 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increasing patient acuity levels, growing healthcare demands, shift towards value-based care, rise in chronic diseases, regulatory compliance requirements, focus on patient safety and quality.
The high acuity information systems market size is expected to see strong growth in the next few years. It will grow to $16.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to population health management initiatives, increasing demand for telehealth services, focus on precision medicine, patient-centric care models, continued expansion of digital health. Major trends in the forecast period include technological advancements, interoperability and integration, telehealth integration, data security and privacy, population health management, mobile health (mhealth) integration, ai in diagnostics and decision support, cloud-based solutions.
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Market Drivers and Trends:
Rising demand for telemedicine is expected to propel the growth of high acuity information systems market going forward. Telemedicine is the remote diagnosis and treatment of patients through telecommunications technology. High-acuity information systems enhance telemedicine by providing detailed, real-time patient data critical for making urgent and complex medical decisions remotely. For instance, in June 2023, according to Cross River Therapy, a US-based provider of ABA therapy services, telehealth usage in the United States grew from 24.2 million individuals in 2021 to 27.6 million in 2022. Therefore, the rising demand for telemedicine is driving the growth of high acuity information systems market.
Major companies operating in high acuity information systems market are focusing on strategic partnerships to develop innovative product solutions. A strategic partnership is a collaborative agreement between two or more entities (usually businesses) with the goal of achieving mutually beneficial outcomes. For instance, in June 2023, Royal Philips NV, a Netherlands-based health technology company, partnered with Masimo Corporation, a US-based health technology and consumer electronics company, to develop high acuity patient monitors. The partnership aims to streamline access to patient data by integrating Masimo technology into Philips' monitors, providing contextual and relevant information at the bedside and during transport.
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Major Key Players of the Market:
McKesson Corporation, Siemens Healthineers AG, GE Healthcare, Philips Medical Systems, Computer Sciences Corporation, Optum Inc., Dragerwerk AG, Epic Systems Corporation, Cerner Corporation, Nihon Kohden Corporation, Athenahealth Inc., CompuGroup Medical SE & Co. KGaA, eClinicalWorks, Meditech Information Technology Inc., iSOFT Group Limited, Computer Programs and Systems Inc., CareCloud Corporation, CureMD Healthcare, Advanced Data Systems Corporation, Amazing Charts LLC, Aprima Medical Software Inc., ChartLogic Inc., Azalea Health Innovations Inc., Allscripts Healthcare Solutions Inc., Picis Clinical Solutions Inc.
High Acuity Information Systems Market 2024 Key Insights:
• The high acuity information systems market is expected to grow to $16.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Telemedicine Surge Drives Growth With High-Acuity Information Systems At The Forefront Of Remote Healthcare Revolution
• Royal Philips NV's Collaboration With Masimo Corporation Driving Innovation In High Acuity Information Systems
• North America was the largest region in the high acuity information systems market in 2023. The regions covered in the high acuity information systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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