Increasing Healthcare Expenses Drive the Growth of Healthcare Information Systems Market to touch US$53.2 Billion by 2019

North America has the largest healthcare information systems market and Asia is the fastest growing healthcare information systems market. Some of the fastest growing markets for healthcare information system are China, India, Japan and the U.S. Adoption of wireless and cloud computing is constantly on the rise, which is resulting in reduction in operational costs. For instance, the number of patients who used home health monitoring systems was about 2.8 million in the world in 2012. The growth rate is projected to increase to 26.9% in the near future. Similarly, About 5.7 million patients are expected to be monitored with a wireless medical device in 2014.

Healthcare information system is an extensive integrated system which captures, stores, manages and transmits information related to the health of individuals or the activities of organizations that work within the healthcare sector. Globally, increase in aging population is playing a major role in increasing the demand of healthcare information system. Older people have less regenerative abilities and are more prone to disease, syndrome and sickness. As a result, healthcare information systems market is expected to grow at a CAGR of about 7.1% during 2013 – 2019.

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Some of the key driving factors for the healthcare information systems market are aging population, rising healthcare cost, rising government initiatives, rising need for integrated healthcare system and rising investments by healthcare IT players. However, the market faces some restraints such as lack of experienced professionals, high maintenance & service expenses and interoperability issues. North America has the largest healthcare information systems market and Asia is the fastest growing healthcare information systems market. Some of the fastest growing markets for healthcare information system are China, India, Japan and the U.S. Adoption of wireless and cloud computing is constantly on the rise, which is resulting in reduction in operational costs. For instance, the number of patients who used home health monitoring systems was about 2.8 million in the world in 2012. The growth rate for home health systems is projected to increase to 26.9% in the near future. Similarly, About 5.7 million patients are expected to be monitored with a wireless medical device by 2014.

Hospital information system is the largest application segment in healthcare information systems market and it is expected to grow at a CAGR of about 6.9% during 2013 – 2019. Based on delivery mode, the healthcare information systems market can be classified into web based technology, on-premise technology and cloud based technology.

GE Healthcare is the leading player in the hospital information systems market. Other major players of healthcare information systems market include Philips Healthcare, McKesson Corporation and others.

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