With burgeoning population and several associated developments such as rise in geriatric population as well as massive burden of disease occurrences, need for impeccable healthcare delivery remains primary. Additionally, growing need for patient communication for long term loyalty necessitates a well-knit communication matrix amongst healthcare workforce and care givers to maintain feasible interaction concerning patient information. With stupendous patient footfall, it becomes rather overwhelming to maintain real time data access manually in the realms of health, financial, as well as operational needs.
The global Hospital Information System (HIS) market is expected to develop USD 528.49 Billion by 2030, at a compound annual increase in price (CAGR) of 7.8% throughout the forecast period.
.jpg "The Global Hospital Information System His Market 2020-2030 (USD Billion)")
After substantial bottlenecks in timely access and maintenance of patient centric information, subject to manual errors, hospitals have largely upgraded to efficient hospital information systems (HIS) to efficiently deliver legacy free, agile data support pertaining to clinical and administrative information. Modernization of healthcare facilities are essentially expected to leverage mass scale dependence and eventual growth in hospital information system (HIS) market.
Patient information furnished in any hospital information system platform categorically addresses a range of department centric applications encompassing pathology and radiology. Hospitals working on hospital information system (HIS) work on patient centric information inclusive of gender, age, and demographics and even patient diet plans and medication. On the back of such information framework appropriate recovery mapping can be effectively leveraged aligning with the tanets of absolute health delivery. According to advanced studies in Hospital Information System (HIS) Information System broadly encompasses workforce, information collection tools and procedures to use enormous data for administrative needs.
Besides defining the role and scope of Hospital Information System (HIS) several studies are directed towards examining and evaluating the success quotient of novel tools and system up-gradation in hospital information system (HIS) along with their subsequent implications.
Breakthroughs in Hospital Information System (HIS) are poised to harness operational aid to stakeholders in healthcare landscape, comprising managers, researchers, as well as physicians. A dedicated study evaluating HIS was recently carried out by medical practitioners of Psychiatric Hospital and Education Center in Iran. According to the study, HIS recorded high efficiency, marked by 65%. Therefore, according to the study, Hospital information System (HIS) is crucial for appropriate hospital management and optimum instruments to evaluate the efficiency are underway.
Besides relentless efforts directed to improve healthcare across developed economies, emerging economies such as India are taking substantial leaps to remain ahead in healthcare delivery. At the backdrop of Indian government's historic decision to increase healthcare spending, India is set to witness a spike of around 2.5% on its GDP with directed expansions in healthcare expenditure.
On the back of active government aid in developing healthcare IT services, developing companies such as India are taking big leaps. In this regard, India has added C-DAC based Sushrut which essentially is a Hospital Information System (HIS) is a dedicated platform to address care delivery amongst patients, besides leveraging simultaneous competence administrative operations. Alterations such as technological diversifications and cost efficiency are core deliverables of this nes-age Hospital Information System (HIS), India is witnessing.
Spike in Hospitals is Likely to Mirror Adoption and Growth in Hospital Information System (HIS) Market
Data management is an extensive operational need, more emphatically across hospitals where patient footfall is enormous. Besides tracking patient centric information based on real time data, need for maintaining other records such as financial aspects are equally challenging. This calls for an optimum data management system to reckon and maintain health information systems.AI integrated hospital information system is perhaps the next big turning point in healthcare. Intelligent tools incorporate AI expertise to gauge real time information, restrict data loss, minimize turn-around-time, and accentuate health delivery services.
Healthcare delivery, by virtue of its innate need and large scale requirement has instigated demand upsurge for committed healthcare delivery means, such as facility expansions. Several federal governments are closely working and funding several dedicated schemes to increase hospital availability.
According to a recent announcement by Emory University, plans are ripe for the inauguration of a new hospital in Brookhaven a suburb in Atlanta. Additionally, Atlanta has is also funding its ambitious health care initiative, that is likely to facilitate development of a novel hospital worth $1.3 billion expected to be functional in 2025.Such fast paced healthcare developments and upcoming facilities are likely to encourage million dollar opportunities in hospital information system market.
Innovations in Healthcare and IT Integration to Bode Well with Adoption Trends in Hospital Information Systems (HIS) Market
California based VA Palo Alto Health Care System (VaPalo) is a dedicated institution to extend healthcare services across numerous healthcare facilities, comprising a total of over 900 beds. The herculean task of managing such enormous healthcare services necessitates IT capabilities for error-free service delivery and tracking voluminous data assets pertaining patient information as well as financial and legal aspects.
To encourage new developments, VAPAHCS has recently launched its National Center for Collaborative Healthcare Innovation (NCCHI). The project is being adequately backed by Veteran Health Administration Innovation Ecosystem entailing skilled services in patient information, patient communication, clinical decision making, as well as predictive analytics that are poised to necessitate adoption of Hospital Information System (HIS) to limit human errors. The partnership is also likely to lend impetus to IT integration in healthcare that is likely to improve Hospital Information System (HIS) visibly.
Some of the new features included in contemporary Hospital Information System include, patient dashboard comprising of elaborate patient information such as number of visits, condition diagnosis, and other medical records. A convenient information editor is also included for error free analysis and record maintenance. Innovative documentation format highlighting appointments, patient entry, as well as other notifications and offline availability are also included in hospital information system.
Cloud-based Hospital Information System to Witness Large Scale Preferences
Yet another development in Hospital Information System (HIS) space is cloud-based operations that leverage accuracy in clinical management of data.
However, besides manifold advantages of Hospital Information System (HIS), the concept falls short of adoption precisely because of pricing constraints in technological developments and space. To offset such limitations, cloud based Hospital Information System (HIS) has emerged as a novel development that is likely to be more user convenient. Additionally, besides cost efficiency, cloud based Hospital Information System (HIS) also ensures scalable and transparent data security and management. Voluminous patient data are encrypted and stored, with minimal risks of data breach. Additionally, round-the-clock availability of patient data is crucially important for effective care delivery, besides governing evidence backed therapeutics. Location and space constraints in cloud based hospital information system get substantially diminished. Additionally, owing to its wireless technology platform, cloud-based Hospital Information System is universally accessible, and also resonates well with ever increasing popularity of mobile devices instead of conventional PC systems.
Need for hardware installation is mitigated in cloud-based hospital information system (HIS). As data streams are off-site, hardware maintenance becomes obsolete.
Hospital Information System (HIS) Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 528.49 Billion |
| Growth Rate | CAGR of 7.8% during 2020-2030 |
| Segment Covered | By Application,By Deployment,By Component Type, By End-use, |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Oracle, Mckesson Corporation, IBM, General Electric Company, AllScripts Healthcare, LLC, Koninklijke Philips N.V, Cognizant, Athena health, UnitedHealth Group, Dell, Inc. |
Key Segment Of The Hospital Information System (HIS) Market
By Application (USD Billion)
o Hospital Information System
• Electronic health record
• Electronic medical record
• Real time healthcare
• Patient engagement solution
• Population health management
o Pharmacy Information System
• Prescription Management
• Automated dispensing system
o Laboratory Information system
o Revenue Cycle Management
o Medical Imaging Information System
• Radiography Information System
• Monitoring Analysis Software
• Picture Archiving & Communication System
By Deployment, (USD Billion)
• Web-based
• On-Premises
• Cloud
By Component Type, (USD Billion)
• Hardware
• Software & Systems
• Services
By End-use, (USD Billion)
• Hospital
• Diagnostic Centers
• Academic & Research Institute
Regional Overview, (USD Billion)
North America
• US
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The global hospital information system his Market is Segmented on the basis of By Application,By Deployment,By Component Type, By End-use,
North America dominated the market for hospital information system his market and accounted for the largest revenue share.
To get latest version of hospital information system his market report can be obtained on demand from the website.
Key Market Movements
- Growing population and rise in disease occurrences to maneuver large scale adoption of hospital information system (HIS)
- Government investments and associated milestones in hospital capacities to transform lucrative returns
- Lack of competent and sufficient workforce to harness reliance on digital solutions such as Hospital Information System (HIS)
- Relevant breakthroughs in IT integration in healthcare to remain a key growth booster
- Emergence of cloud-based services to escalate growth advantage with effective cost management strategies
Key Study Deliverables
-
- Market valuation in terms of value and volume with forecast estimations in the global rubber process oil market through the forecast span, 2018-25 with CAGR during the said period.
- Comprehensive market analysis and assessment based on market segmentation as well as regional diversity.
- Identifying market dynamics such as drivers, threats, challenges, and opportunity assessment
- A holistic assessment of the competitive landscape based on standard assessment tools
- An elaborate review of industry participants and an assessment on the basis of company and product overview, financial returns, and other substantial business strategies