Healthcare Information Systems Market to Grow at 7.1% CAGR during 2013-2019 : Persistence Market Resby Addie Thomes Marketing Executive
New York City, New York, Oct 14, 2015: According to a recent market research report published by Persistence Market Research, the global healthcare information systems market is estimated to grow at a CAGR of 7.1% during the period between 2013 and 2019. The market for healthcare information systems was worth US$35.2 billion in 2013. The report points out that the increasing demand for better healthcare facilities will increase the valuation of the overall market to US$53.2 billion by 2019.
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A healthcare information system is an integrated system used to manage, store, and transmit information related to the patient’s health. Supported with client-server architectures for processing and networking, these systems ensure safe and smooth collection and exchange of patient data between labs, hospitals, and clinics. The report points out that the rising need for integrated healthcare systems and growing investments from healthcare IT players have boosted the overall market. Various government initiatives such as The Patient Protection and Affordable Care Act in the U.S. have stressed on better healthcare facilities, which has positively impacted the global healthcare information systems market.
However, the report states that high maintenance and service expenses of healthcare information systems will restrain the growth of the global healthcare information systems market. Lack of experienced professionals and interoperability issues will also hamper the overall market. The healthcare information systems market has a huge potential to grow with the introduction of IT-enabled healthcare solutions for physicians. Emerging markets in Asia will boost the demand for healthcare information systems.
With wireless and cloud technology increasing in popularity, increased adoption of electronic medical records is observed in the healthcare sector. The report states that the growing usage of mobile devices and focus on patient-centric healthcare information systems have emerged as the key trends in the global healthcare information systems market.
On the basis of application, the report segments the global healthcare information systems market into laboratory information systems, hospital information systems, and pharmacy information systems. Laboratory information systems have dominated the overall market and are expected to grow at a CAGR of 7.7% during the period between 2013 and 2019.
The report further segments the global healthcare information systems market into components such as hardware, software, and services. On the basis of delivery mode, the market has been categorized into on-premise, cloud-based, and web-based. There has been an increased adoption of the cloud-based delivery model of late.
The report studies the global healthcare information systems market in four key regions: Europe, North America, Asia, and Rest of the World. North America is the largest market for healthcare information systems, closely followed by Europe. During the forecast horizon, Asia is expected to witness the fastest growth owing to the growing demand from countries such as China and India.
The report profiles some of the key players in the global healthcare information systems market, such as GE Healthcare, Philips Healthcare, Cerner Corporation, CareStream Health Inc., Epic Systems Corporation, and Siemens Healthcare. The report mentions the products and services, financial performance, and recent developments of the key players.
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