Global Hospital Information System (HIS) Market Scope Report

Global Hospital Information System (HIS) Market Highlights Over 2023 - 2035

The global hospital information system (HIS) market is estimated to garner a revenue of USD 52.0 Billion by the end of 2035 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 18.0 Billion in the year 2022. The growth of the market can be attributed to the rising demand for safely transferring patients’ data followed by the increasing volume of data in the healthcare sector. According to the statistics, more than 25 percent of the global data volume is generated by the healthcare industry.

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Hospital Information Systems (HIS) is a subset of health informatics that focuses on the administrative, financial, and clinical needs of hospitals. These systems improve healthcare professionals' ability to coordinate care by delivering a patient's health information and visiting history when and where it is needed. Therefore, HIS is intended to centrally manage patients and their related information through electronic data processing and to predict health status within the hospital environment. The goal is to provide better healthcare services with greater precision and accuracy. Therefore, an Increasing Need to Reduce Prescription errors is anticipated to increase the growth of the global hospital information system market. More than 1,00,000 medication errors are reported in the United States every year

Global Hospital Information System (HIS) Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Number of Hospitals- There has been an increase in the number of hospitals leading to a surge in the volume of data. Therefore, it is expected to boost the growth of the global hospital information system (HIS) market. In the year 2020, there are more than 4,500, 4,000, and 3,000 hospitals in Mexico, Korea, and Germany respectively.

• Rising Number of Emergency Cases– In the United States, nearly 130 Million emergency department visits were made by the patient in the year 2018.

• Increasing Automation in Healthcare– More than 80 percent of organizations around the world have automation and artificial intelligence in the year 2020

• Surge in Number of Patients Suffering from Chronic Diseases– More than 40 Million people die each year across the globe owing to the chronic disease as per the data reported in 2020.

Challenges

• Lack of Appropriate Information Technology Infrastructure

• Concern Related to Privacy

• High Cost for the Deployment of Hospital Information System

The global hospital information system (HIS) market is segmented and analyzed for demand and supply by delivery mode into on-premise, and cloud. Out of these, the cloud segment is anticipated to hold the largest share over the forecast period owing to the easily accessible present on external servers that can be accessed by patients and healthcare providers at anywhere and anytime. Moreover, it is the most cost-effective system that can be adopted by large as well as small & medium scale enterprises.  There were more than 320 Million small & medium enterprises across the globe in the year 2019.

Global Hospital Information System (HIS) Market Regional Synopsis

Regionally, the global hospital information system (HIS) market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2035 on the back of the rapid adoption of digitalization in healthcare, surging number of hospitals, and rising demand for advanced technological products in the countries such as the United States. Furthermore, there has been a high adoption of IT services in the healthcare sector that are expected to further contribute to the growth of the market in the region. According to the Survey Statistics by American Hospital Association, 2022 edition, the total number of hospitals in the United States accounted for nearly 6,093

Market Segmentation

Our in-depth analysis of the global hospital information system (HIS) market includes the following segments:

Key Companies Dominating the Global Hospital Information System (HIS) Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global hospital information system (HIS) market that are included in our report are GE Healthcare, Carestream Health, Inc., Cerner Corporation, Koninklijke Philips N.V., McKesson Corp., HealthLinc, Inc., NXGN Management, LLC., Allscripts Healthcare, LLC, Epic Systems Corporation, Medical Information Technology, Inc., and others.

Global Hospital Information System (HIS) Market: Latest Developments

• August 2019: Koninklijke Philips N.V., announced the complete acquisition of Carestream Health, Inc., a healthcare information system business in 26 countries in which it operates.

• November 2021: GE Healthcare announced the unveils of new artificial intelligence and digital technologies and solutions in order to solve healthcare’s most pressing problems.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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