Healthcare Information System Market Size, Share & Trends Analysis Report By Application (Revenue Cycle Management, Hospital Information System), By Deployment, By Component, By End-use- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Healthcare Information System market gathered revenue around USD 257.1 Billion in 2020 and market is set to grow USD 538.4 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 8.9% during the prediction period 2021 to 2027.

Growth Factors:

The demand for information systems is expected to continuously increase over the forecast period, mainly due to the increasing prevalence of chronic diseases and the aging population. The growing demand-supply gap in the healthcare industry has led to an increase in the use of IT, thereby boosting the adoption of cloud computing in healthcare companies. The rising demand for cloud-based information systems in healthcare organizations is expected to boost the market growth over the forecast period. The increase in the adoption of information systems in hospitals for improving operational efficiency, growing awareness regarding advanced services, and the growing requirements for reducing healthcare costs are among the key factors contributing to the market growth.

The COVID-19 pandemic has positively impacted the market growth and transformed the fortunes of healthcare companies. It has immensely impacted hospital systems, diagnostic centers, research centers, and the economy. The pandemic created a rapid demand for the usage of advanced technology-based healthcare information systems such as electronic health records (EHRs), electronic medical records, real-time healthcare systems, and prescription management software solutions.

 Furthermore, IT companies and healthcare institutions are collaborating at a greater level to focus on the development of high-utility services and products to improve the delivery of personalized care, streamline data storage, and make effective use of data analytics. For instance, some of the advanced services implemented in hospitals using various technology platforms include real-time locating services, self-service kiosks, report monitoring tools, portal technology, and pharmacogenomics, which are helping improve the overall hospital administration and patient experience.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Healthcare Information System market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Healthcare Information System market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 538.4 Billion by 2027
Growth Rate CAR 8.9% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Largest Market North America
Fastest Growing Market Asia Pacific
Segments  Covered Application, deployment, component, end-use and Region
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends 
Companies Mentioned  McKesson Corporation; Cerner Corporation; athenahealth, Inc.; Allscripts; Medidata Solutions Inc.; Agfa Gevaert NV; GE Healthcare; Siemens Healthineers; Epic Systems Corporation; NextGen Healthcare.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Healthcare Information System market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

North America accounted for the largest share of over 45.0% in 2020 primarily due to the high demand for technologically advanced solutions and services in healthcare systems and the presence of a large number of vendors, such as Accenture, Cerner, GE Healthcare, McKesson, Oracle, and Microsoft. The presence of large health settings in this region is a contributor to the market growth. Technologically advanced products offer a more effective way of operating hospital processes and administration. The enactment of laws and legislation to increase the adoption of EHR is an important factor, which is boosting market growth.

Asia Pacific is expected to be the fastest-growing segment over the forecast period. Technological advancements such as eHealth platforms and cloud computing are playing a major role in driving the regional market. The healthcare data is subject to stringent regulatory oversight to ensure confidentiality of the information, safe and secure storage, user-level authorization, traceability of information, and mitigation of other cyber security threats.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Healthcare Information System Market include:  McKesson Corporation; Cerner Corporation; athenahealth, Inc.; Allscripts; Medidata Solutions Inc.; Agfa Gevaert NV; GE Healthcare; Siemens Healthineers; Epic Systems Corporation; NextGen Healthcare

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

  • By Application
    • Hospital Information System
      • Electronic Health Record
      • Electronic Medical Record
      • Real-time Healthcare
      • Patient Engagement Solution
      • Population Health Management
    • Pharmacy Information Systems
      • Prescription Management
      • Automated Dispensing Systems
      • Inventory Management
      • Others
    • Laboratory Information Systems
    • Revenue Cycle Management
    • Medical Imaging Information System
      • Radiology Information Systems
      • Monitoring Analysis Software
      • Picture Archiving and Communication Systems
  • By Deployment
    • Web-based
    • On-premises
    • Cloud-based
  • By Component
    • Hardware
    • Software and Systems
    • Services
  • By End-use
    • Hospitals
    • Diagnostic Centers
    • Academic and Research Institutes

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Healthcare Information System market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Healthcare Information System market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Healthcare Information System markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Healthcare Information System market Study:

  • Growth of Healthcare Information System in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Healthcare Information System and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Healthcare Information System Consumption Analysis
  •  Healthcare Information System Production Analysis
  •  Healthcare Information System and Management