Hospital Information Systems (HIS) Market Overview and Trends, 2015 to 2025

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Hospital Information Systems (HIS) Market Size,
Shares, Growth, Trends, Competitive Strategies
and Forecasts to 2025 Hexa Research
Global hospital information systems (HIS)
market is anticipated to witness a Substantial
Growth till 2025
2 May 2019, The global Hospital Information
Systems (HIS) Market is expected to foresee a
considerable growth over the forecast period. One
of the crucial factors contributing to the HIS
market growth is augmented demand for
unconventional health monitoring systems. The
global industry has been witnessing increased
adoption of mobile devices and this trend is
expected to continue over the forecast
period. However, shortage of skillful
professionals may pose a challenge to market
growth in the coming years. Growing penetration
of smartphones and mobile devices across the
developed, as well as emerging economies, is
anticipated to have a positive impact on the
market growth.
These devices eliminate the need for patients to
visit clinics or hospitals every time they
require a diagnosis. They also provide regular
updates regarding their illnesses enabling
follow-ups and check-ups. Hence, mobile
technologies are anticipated to advance
healthcare facilities to a great extent over the
forecast period. Rising need for advanced
healthcare services on account of aging
population and growing demand from patients is
expected to boost the market over the forecast
period. Furthermore, hi-tech technological
developments, such as business intelligence and
analytics, which help reduce the overall costs
and provide improved results would also drive the
market growth.
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Rapid implementation of these systems in
developing economies by the leading healthcare IT
companies will also accelerate the market growth.
Popular concept of emerging interrelated health
systems, particularly in the healthcare and IT
market, has led vendors to integrate necessary
competencies to tap the growing market potential.
Intense market merging activity has resurfaced
over the last few years. This trend
is anticipated to continue during the forecast
period. Rapid technological developments coupled
with growing government initiatives in improving
health care facilities, particularly in emerging
economies including India and China, is expected
to fuel adoption of hospital information systems.
Efforts taken by various public and private firms
for the development of global healthcare sector
and substantial technological advances are also
driving the adoption of HIS. Rapid demographic
changes along with rising health concerns and
health care costs have forced governments to
boost the quality and outreach while
simultaneously reducing related expenses.
Governments around the world have been facing
concerns to address financial limitations, as
well as affordability and efficiency restraints
of healthcare, due to rapidly growing population.
IT has also forced governments to magnify their
efforts in encouraging the adoption of HIS to
upsurge clinical outcomes, as well as hospital
productivity.
Substantial legislative and economic incentives
have been offered by governments in North
America, Europe, India, and China, to authorize
digitalization of healthcare workflow. Growing
demand and government funding for lesser errors
and increased productivity have encouraged
technological advancements in the healthcare IT
industry. Amongst prominent technologies, which
have considerably contributed to progressive
adoption trends in this market are cloud-based
and web-based HIS solutions. Software as a
Service (SaaS) models have eliminated huge
upfront costs associated with the acceptance of
IT infrastructure, thereby escalating penetration
of HIS into medium- and small-scale practices and
among independent physicians.
Other technological improvements such as advanced
clinical decision support systems and integrated
speech recognition capabilities are also expected
to continue contributing considerably in
expanding the customer pool for HIS over the next
few years. North America, Asia Pacific, Middle
East and Africa (MEA), Europe, and Latin America
are the major regional market for HIS. The North
America region is anticipated to have the largest
market share at the maximum growth rate followed
by Asia Pacific and Europe.
Higher adoption of information systems in the
region, particularly in U.S., due to growing
implementation of IT services in the healthcare
sector would dive the regions growth. Numerous
healthcare laws in the region, such as Affordable
Care Act and Patient Protection Act, provide easy
access to health insurance plans for consumers
through subsidies. Most of these systems are
being widely used in Arizona, Washington
D.C., Colorado, Massachusetts, and New York.
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Some of the key companies in the global Hospital
Information Systems (HIS) market include McKesson
Corp. Siemens Healthcare Ltd. Epic Systems
Corp. and Cerner Corp. Other companies are
Healthcare Solutions Inc. MEDHOST Solutions
Corp. (Healthcare Management Systems Inc.)
Computer Program and Systems, Inc. NextGen
Healthcare Information Systems LLC Agfa
Healthcare Corp. CompuGroup Medical AG Medical
Information Technology, Inc. (MEDITECH) iSOFT
Group PLC Computer Sciences Corp. Allscripts
Healthcare Solutions, Inc. Keane Care, Inc. (NTT
Data Corp.) QuadraMed Corp. and GE Healthcare.
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