The global Hospital Information System Market size is
expected to reach USD 85.2 billion by 2028, according to a new report by Grand
View Research, Inc. The market is expected to expand at a CAGR of 5.9% from
2021 to 2028. An increase in the adoption of hospital information systems (HIS)
for improving operational efficiency in administration, financial, and legal
tasks in hospital settings is one of the key factors attributed to the market
growth. In addition, growing awareness regarding advanced IT services and
consequently growing requirements to curb healthcare costs are among other key
driving factors. With the surging adoption of hospital information systems due
to the several benefits of information technology, such as lower healthcare
expenditure and higher operational efficiency, the demand for analytical IT
solutions is increasing in healthcare.
Hospital information solutions aid in reducing medical
and administration errors. Electronic Health Records (EHRs),
electronic medical records, patient engagement solutions, and population health
management are the key types of information systems registering high adoption
among end-users. The growing need for efficient management of a large volume of
healthcare data generated and its accessibility by the medical practitioners is
one of the key factors driving market growth recently.
Furthermore, IT companies and healthcare settings are
entering into partnerships and collaborations to streamline the data storage,
curb rising costs and effectively use data analytics for better healthcare
delivery and outcomes coupled with efficient management and distribution of
patient data. For instance, in February 2019, IBM Watson Health announced its
10-year investment of USD 50 million in a research partnership with and
Vanderbilt University Medical Center (VUMC) and Brigham and Women’s Hospital, which
aimed to focus on the intersection between AI, EHR data, and the user
experience.
Related Press Release@ Hospital Information System Market Report
Hospital Information System
Market Report Highlights
- The HIS market size is anticipated to be valued at USD 85.2 billion
by 2028, owing to an increase in the number of government initiatives
worldwide to develop and deploy hospital information systems
- The electronic health record segment dominated the global market in
2020. It is due to growing digitalization coupled with the rising demand
for centralization in healthcare administration
- The web-based deployment segment dominated the market, owing to
reduced business costs and improved accuracy
- Software component segment dominated in 2020, owing to the presence
of technologically advanced IT infrastructure in healthcare organizations
- North America dominated the market in 2020 due to the presence of a
large number of vendors, such as Cerner, GE Healthcare, Carestream Health,
IBM, and McKesson Corporation, in the region offering information
solutions
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in San Francisco. The company provides syndicated research reports, customized
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relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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