Healthcare Information Systems market worth will reach US$ 35.2 bn by 2025

Posted by Harsh on October 10th, 2018

Healthcare information technology offers results for data and security management of information associated with healthcare. These days, information technology has more effect on the expenditure quality and wellbeing related to healthcare. Some generally utilized applications in the healthcare industry incorporate electronic medical records, personal health records and healthcare records. During 2013, the worldwide market for healthcare information systems recorded revenues of about US$ 35.2 billion that is likely to increase equal to US$ 53.2 billion towards 2019 end. Throughout the conjecture period 2019, the worldwide market will increase at a 7.1% CAGR.

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Increasing aging populace, increasing expenses of healthcare services and heightening predominance of certain fatal diseases including coronary heart diseases, cancer and so forth are the major driving aspects of the worldwide market for healthcare information system. A few governments and in addition healthcare service providers are currently implementing these healthcare information systems to conform to the developing need of healthcare in a savvy way for therapeutic purposes. A few IT empowered services for developing markets and doctors in emerging nations viz. China and India are opening more up to date prospects for the worldwide healthcare information systems market.

On the other hand, an absence of skilled and trained experts and high costs of services and maintenance as well as issues associated to interoperability are the aspects which are hindering the market development. Assured trends foreseen in the worldwide market incorporates the rising popularity of cloud computing and also remote alongside the concentration in the direction of healthcare information of the patients.

In terms of the application type, the global market is segmented into laboratory, pharmacy and hospital. Of these, the laboratory category has the biggest healthcare information systems market over the said period. In terms of the delivery mode, the global market is segmented into cloud-based, web-based and on-premise technology. In terms of the component type, the global market is segmented into services, hardware and software. Region-wise, the global market is studied across 4 prominent regions, namely APAC, North America, Europe along with Rest of the World. Al through the forecast period, the North America and Europe region are projected to continue to remain prevalent in the worldwide market for healthcare information systems as a result of increasing demand for improved facilities of healthcare as well as growing requirements of the integrated healthcare system. In addition, the APAC region is likely to reflect a higher expansion rate on account of the increasing market demand for healthcare information systems in several developing markets. 

The prominent companies active in the worldwide market for healthcare information systems are Nextgen healthcare Information System Inc., McKesson Corporation, Philips Healthcare, GE Healthcare and Others.