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Forecast Year
The global hospital information system market was valued at USD 194 billion in 2023, driven by increase in digitalization across the globe. The market is expected to grow at a CAGR of 13.18% during the forecast period of 2024-2032, with the values likely to reach USD 588 billion by 2032.
Hospital information system (HIS) is an integrated information system intended to manage the hospital’s operations such as financial, administrative, medical, and legal issues to ensure efficient functioning. This system assists the telehealth and provides smooth operation and transfer/sharing of data/information with tools like electronic medical records, laboratory information systems among others. It provides a platform outside traditional settings to engage with patients and provide medical assistance.
Surge in Collaborations and Partnerships to Boost the Market Value
In October 2023, Narayana Health announced that it is entering a partnership with ClearMedi Healthcare. This collaboration is aimed to implement cutting-edge healthcare information system and business intelligence analytics at clearMedi Healthcare. This partnership aims to elevate healthcare services by the use of HIS to achieve improved patient care, data driven decision-making, resource allocations, and cost optimization.
Increasing Digitalization and Implementation of Artificial Intelligence to Meet the Increasing Hospital Information System Market Demand
In April 2023, 3M Health Information Systems collaborated with Amazon Web Services (AWS) to accelerate the use of artificial intelligence (AI) in clinical documentation. The collaboration aimed at utilizing AWS's computing power and machine learning tools to create better and more efficient systems for documenting patient care. This would reduce the time spent on paperwork, allowing more time for patient care.
In July 2023, Singapore's national health tech agency, Integrated Health Information Systems (IHiS) expanded its partnership with Microsoft on using advanced AI and cloud technology to improve and modernize IT and security systems in public healthcare by using Microsoft 365 in the cloud to enhance team collaboration. The project is intended to create a GPT-based platform to automate tasks and transform clinician’s workflow. This platform is to be built by using Microsoft's Azure and AI services to ensure safety and effectiveness for developing AI tools in healthcare.
The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:
| Trend | Impact |
| Adoption of Artificial Intelligence (AI) and Machine Learning (ML) | Adoption of AI and ML is revolutionizing healthcare. AI can help in improving diagnostics accuracy and provides the clinicians with decision support. This technology aids in predicting dataset trends. On the other hand, ML can automate administrative tasks like scheduling. Thus, AI-driven analytics can drive insights from large data, reduces operational costs, and increases accuracy. |
| Increasing Implementation of Cloud-Based Solutions | Cloud based systems allow the hospitals to access data without the requirement of any physical infrastructure resulting in reduction of upfront and maintenance costs. It also offers flexibility and scalability. Its benefit of providing real time access to patient data aids in decision making, also its ability to adapt to various users and large data volume provides potential to drive the market growth. |
| Focus on Patient Oriented Solutions | Patient centered approach includes a platform where patients can access their medical records, schedule appointments with healthcare professionals, and manage medication schedules. Facilitating telehealth is also becoming prevalent. This solution enhances patient satisfaction and deals with the burden on healthcare providers by offering care outside conventional settings. |
| Shift towards Interoperability | Interoperability enables the healthcare professionals to create a more connected ecosystem by allowing seamless communication and ensuring patient information. It is easily accessible across platforms to patients and healthcare providers. This enables coordinated care and management of chronic diseases. |
Market Breakup by System Type
Market Breakup by Deployment
Market Breakup by Component
Market Breakup by End User
Market Breakup by Region
Electronic Medical Record Deployment Expected to Lead the Market Share Based on System Type
Based on system type, the market segmentation includes clinical information system, electronic medical record, administrative information system, laboratory information system, patient engagement solutions among others, each serving a distinct function. The largest segment noted is electronic medical record (EMR). This segment is propelled by the shift towards digitalization of health records and enhancement of healthcare delivery. This shift to digitalization provides the clinicians with real-time access to patient data, enhances patient outcomes and aids in reducing errors. The laboratory information systems (LIS) segment is expected to be the fastest growing attributed by the growing volume of diagnostics test and the requirement for efficient management of data leading to timely clinician decision-making.
Market Segmentation Based on Deployment is Estimated to Witness Considerable Growth
Based on deployment, the market is divided into web-based, on-premises, and cloud based. This segment aids to varied technological preferences and infrastructure requirements of healthcare services. The fastest segment is anticipated to be of cloud based, contributed to its cost-effectiveness, scalability, and easy maintenance. Cloud based deployment offers regular system updates, remote access to data, and enhances data security which are pivotal with the evolving healthcare landscape.
Web based deployment is another crucial method that provides ease of access and flexibility resulting in allowing the healthcare personnel to access the system via any internet enabled device without the need of any specialized software. This system supports telehealth facilities along with remote patient monitoring driving the hospital information systems market share.
Regionally, the market report offers an insight into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America leads as the largest market. This can be attributed to the adoption of advanced technologies, established healthcare infrastructure, and investments in digital health. With the presence of major companies, this region drives substantial growth.
Asia Pacific is projected to witness significant growth. It can be accredited to improvement in the healthcare infrastructure and growing digital literacy. Owing to the healthcare modernization in countries like India, Japan, South Korea and China, the hospital information systems market is projected to grow in the forecast period.
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by System Type |
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| Breakup by Deployment |
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| Breakup by Component |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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