Healthcare Information Systems Market to Surpass 1614.8 Billion by 2030 Driven by Rising Demand for Preventive Care Solutions
SkyQuest projects that the healthcare information systems market will attain a value of USD 1614.8 billion by 2030, with a CAGR of 13.3% over the forecast period (2023-2030). The healthcare information systems market is undergoing a rapid transformation owing to the increasing adoption of digitalization and raising the demand for preventive care solutions. This shift has resulted in the emergence of numerous entrepreneurship ventures and a surge in partnerships and funding, driving the market growth.
Westford, USA, Aug. 24, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the global geriatric population is growing with the burden of chronic diseases such as diabetes, hypertension, cancer and cardiovascular diseases. This will increase health and medical expenses and drives the demand for home-care services such as remote patient monitoring. To meet this demand, the adoption of IT services is expected to rise, propelling the healthcare information systems market growth.
Browse in-depth TOC on “Healthcare Information Systems Market”
- Pages – 157
- Tables – 119
- Figures – 77
The healthcare information systems market is witnessing a significant increase in the prevalence of chronic diseases such as diabetes, cancer, and congestive heart failure, driving the adoption of remote patient monitoring services. This trend is expected to boost the demand for IT solutions in the industry, enabling healthcare providers to monitor and manage patients’ health conditions remotely. For instance, according to the International Diabetes Federation (IDF), the number of people living with diabetes is expected to rise to 643 million by 2030 and 783 million by 2045.
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Prominent Players in Healthcare Information Systems Market
- Hewlett Packard
- McKesson Corporation
- Allscripts Healthcare, LLC
- GE Healthcare
- Oracle (Cerner Corporation)
- Epic Systems Corporation
- Carestream Health
- Novarad Corporation
- e-MDs Incorporation
- Medidata Solutions Inc.
- Siemens Healthineers
- NextGen Healthcare
- Ada Health GmbH
- SWORD Health
- Siilo
- NXGN Management, LLC,
- GREENWAY HEALTH, LLC.,
- Infor
Hospital Segment is Expected to Dominate the Market Due to Rising Usage of Hospital Information Systems
Hospital segment dominated the healthcare information systems market, accounting for 76.8% of the total market share, and is expected to maintain its leadership position during the forecast period. The growing usage of hospital information systems has increased professional efficiency and improved patient care. These systems assist hospitals in managing administrative, financial and clinical aspects, allowing for efficient maintenance of hospital inventory and patient records.
The markets in North America dominated the healthcare information systems market in 2022, holding a 52% share of the market. The region’s dominance can be attributed to several factors, including its high economic development and the presence of a large number of hospitals, advanced research centers, universities and medical device manufacturers.
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Services Segment is Expected to Dominate the Market Due to the Increasing the Services Offered by Companies
Services segment dominated the healthcare information systems market, accounting for 46% of the total market share. This trend is expected to continue during the forecast period, driven by the various services offered by companies in the industry. These services, including optimization, hosting, consulting and revenue cycle services, assist healthcare facilities in managing their information systems effectively.
Regional markets in Asia Pacific is anticipated to be the fastest-growing healthcare information systems market, with increasing government expenditure on healthcare and a rising preference for healthcare IT services. Additionally, the increasing prevalence of chronic diseases and the aging population drive the demand for advanced healthcare technologies.
A comprehensive analysis of the major players in the healthcare information systems market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Healthcare Information Systems Market
- Malta recently launched its first national health workforce strategy in 2022, aiming to address the shortage of healthcare workers in the country. The strategy is an ambitious plan that seeks to bridge gaps in healthcare workers’ training, retention and professional development. With the implementation of this strategy, the country hopes to improve the overall quality of healthcare services, increase access to care and ensure that the healthcare workforce is prepared to meet the needs of the population.
- Fujifilm India Pvt. Ltd., a leading provider of diagnostic imaging and information systems for healthcare facilities, expanded its pulmonology solutions portfolio in India with the launch of the EB-710P in 2022. The new slim video bronchoscope is designed to aid in diagnosing and treating lung diseases, such as lung cancer and chronic obstructive pulmonary disease (COPD).
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Key Questions Answered in Healthcare Information Systems Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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