Hospital Information Systems Market Size, Share & Trends Analysis Report By Delivery Mode, (Cloud-Based Technology, On-Premises Installation, Web-Based Technology), By Component, And Segment Forecasts, 2018 - 2025

Industry Insights

The global hospital information systems market size was valued at USD 13.26 billion in 2015 and is projected to grow at a CAGR of 11.4% during the forecast period. The market is expected to witness significant growth on account of rapid increase in the adoption of these systems for efficient management of hospital operations. These comprehensive integrated systems have an application in various operations such as administration, finance, legal, etc. The rising demand for efficient management of large volume of data generated and its availability for medical practitioners as and when required is one of the key drivers for the expansion of the market.

The upsurging need for analytical IT solutions in healthcare, awareness about these advanced services, and their growing importance to curb the high medical costs are contributing factors for the increasing acceptance of these systems in healthcare. Moreover, due to the growing significance of efficient workflow, streamlining of operations, and better storage, management & distribution of patient data & imaging results, as well as better healthcare delivery and outcomes, there is a growing demand for such IT solutions.

U.S. hospital information systems market by delivery mode, 2013 - 2025 (USD billion)

The rapid technological advent along with supportive government policies and initiatives are also key contributors to the expansion of the market. Across the globe, health systems have invested significantly in the installation of EHR technology and upgradation of IT in health, but only EHR system no longer serves to be adequate with rapidly changing healthcare landscape. Hospitals are focusing on systems that focus on data analytics and web-based solutions, which helps reduce errors along with lowering cost and improving quality of care.

Delivery Mode Insights

Cloud-based technology dominated the overall market in 2015 with a share of 45.5%.and the segment is anticipated to continue the dominance over the forecast period with a CAGR of 11.8%. The key factors driving the widespread use of cloud systems include cost considerations, data storage capacity, and remote access to information. The cloud-based technology is gaining momentum due to numerous security lapses in the web-based and on-premise systems.

• Web-based technology is expected to be the second fastest-growing delivery mode growing at a CAGR of over 11% in the coming few years. The use of web-based systems has significantly reduced the operational hassles encountered due to processing large volumes of data. In general, web hosting is available in the following forms:

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Component Insights

The software segment held a majority of the share in 2015 accounting for 46.6%. The high demand for advanced software and digitalization of hospitals and technological developments such as eHealth platforms, web-based software, remote monitoring tools, portal technologies, and others are contributing to the large share of the segment.

Global hospital information systems market by component, 2015 (USD Million)

Furthermore, the services segment is projected to be the fastest-growing segment during the forecast period with a CAGR of 11.7%. The rising requirement for collaboration platforms, implementation of various health information software, and implementation of EHR systems is expected to boost the segment growth.

Regional Insights

North America is the largest market for these systems with a share of 48.2%. The government initiatives in the region accelerate the adoption of information technology in healthcare. The U.S. is dominating due to high acceptance and implementation of IT services specifically in the healthcare sector. Furthermore, the local presence of large players with focus on the development of advanced IT solutions, successful implementation of EHRs in the region, and high deployment of robust IT infrastructure can be attributed to the large share of the region

Asia Pacific is projected to be the fastest-growing market with a CAGR of 11.7% during the forecast period. The emerging economies, such as India and China, are the most lucrative markets due to the rising elderly population, increasing patient pool, and improving healthcare facilities. The increasing awareness about these systems and their growing importance coupled with the supportive government programs and policies is projected to boost the growth. Rapid adoption of digitization in healthcare by the emerging economies is also contributing to the growth.

Competitive Insights

GE Healthcare, Cerner Corporation, Carestream Health, Siemens Healthineers, Philips Healthcare, Merge Healthcare (IBM), McKesson Corporation, NextGen Healthcare, Allscripts, and many others are the prominent players operating in hospital information systems market.

Due to greater opportunities in both developed and developing countries, companies are undertaking strategic initiatives such as mergers and acquisitions & collaborations for development of novel innovative solutions and expansion of operations for increased global presence. For instance, in December 2016, Cleveland Clinic and IBM collaborated to develop population health and value-based care models with the aim of improving analysis of EHR-based data, information from administrative claims and personalized critical care.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the industry trends in each of the sub-segments from 2013 to 2025. For the purpose of this study, Grand View Research has segmented the hospital information systems market on the basis of delivery mode, component, and region:

• Delivery Mode Outlook (Revenue, USD Million; 2013 - 2025)

  • Cloud-Based Technology

  • On-Premises Installation

  • Web-Based Technology

• Component Outlook (Revenue, USD Million; 2013 - 2025)

  • Software

  • Hardware

  • Services

  • Others

• Regional Outlook (Revenue, USD Million; 2013 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa