Knowledge Hub

With CAGR 6.9%, Healthcare Information System Market poised for steady growth by 2019 globally

Press release   •   Apr 05, 2016 06:38 EDT

Some of the key driving factors for the healthcare information system market are aging population, rising healthcare cost, rising government initiatives, rising need for integrated healthcare system and rising investments by healthcare IT players. However, the market faces some restraints such as lack of experienced professionals, high maintenance & service expenses and interoperability issues. North America has the largest healthcare information system market and Asia is the fastest growing healthcare information system market. Some of the fastest growing markets for healthcare information system are China, India, Japan and the U.S. Adoption of wireless and cloud computing is constantly on the rise, which is resulting in reduction in operational costs. For instance, the number of patients who used home health monitoring systems was about 2.8 million in the world in 2012. The growth rate for home health systems is projected to increase to 26.9% in the near future. Similarly, About 5.7 million patients are expected to be monitored with a wireless medical device by 2014.

Hospital information system is the largest application segment in healthcare information systems market and it is expected to grow at a CAGR of about 6.9% during 2013 – 2019. Based on delivery mode, the healthcare information system market can be classified into web based technology, on-premise technology and cloud based technology.

In the segment of geographic analysis, the report identifies and analyses market sizes and forecast of North America, Europe, Asia Pacific and Rest of the World (RoW). North America region covers the scenario of the U.S.. Europe region covers the scenario of France, Germany and the U.K.. Asia Pacific region highlights the scenario of India, China and Japan.

GE Healthcare is the leading player in the hospital information system market. Other major players of healthcare information system market include Philips Healthcare, McKesson Corporation and others.