Global Hospital Information Systems Market 2022-2027 - Rising Awareness Regarding EHR Systems, Spurred by COVID-19 - ResearchAndMarkets.com

The "Hospital Information System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)" report has been added to ResearchAndMarkets.com's offering.

The global hospital information systems market is projected to register a CAGR of 8.4% during the forecast period.

The pandemic has put healthcare systems under strain worldwide and forced hospitals and other medical facilities to scramble to make sure data can be shared effectively. The 'digital front door' was really the key to how providers should be responding to the COVID-19 situation in terms of access, triage, and even treatment. With the surge in demand for hospital capacity, one of the challenges faced by hospital IT staffers was figuring out how to quickly deploy EHR systems to alternative care locations.

Moreover, healthcare facilities such as hospitals, diagnostic centers, and clinics are showing an interest in clinical decision support systems, electronic health records (EHRs), and other systems in minimizing medication prescription errors, adverse drug events monitoring, and other medical errors. COVID-19 acted as a trigger for a sharp uptake of teleconsultations. The restrictions on free movement and travel, the limitation of medical services to emergency situations, and the overall increase in suspected and confirmed COVID-19 infections contributed to the surge in teleconsultation platforms.

For instance, during the COVID-19 pandemic, in December 2020, Indian Railways launched an integrated Hospital Management Information System (HMIS) in South Central Railways and Northern Railways. The HMIS in railways was developed in coordination with RailTel Corporation Limited. The objective of the HMIS is to provide a single window of clearance for hospital administration activities such as diagnostics, clinical, pharmacy, examinations, and industrial health.

The major factors driving hospital information systems include the increasing demand for quality healthcare systems, technological developments in the healthcare sector, an increase in government initiatives, and rising awareness regarding EHR systems.

As per the study by HealthIT.gov in June 2019, around 94% of EHR providers reported that their EHRs make the records readily available at the point of care, and 88% of EHR providers reported that their EHRs provide benefits for clinical practices. This indicates that the providers understand the significance of EHR systems. Owing to this, the demand for EHR systems in healthcare practices is increasing. The use of EHR is increasing due to higher patient satisfaction in terms of the services that they receive.

EHR is a major component of the hospital information system, and the need to integrate and manage the EHR, along with other administrative and clinical processes, is expected to contribute to the growth of the hospital information system market during the forecast period. However, factors such as data security and privacy concerns and lack of proper IT infrastructure in developing regions are expected to restrain the market over the forecast period.

Key Market Trends

• The Cloud-based Segment is Expected to Witness the Fastest Growth during the Forecast Period
• North America Dominates the Market, and It is Expected to do the Same During the Forecast Period

Competitive Landscape

The hospital information system market is fragmented and competitive due to the presence of various players. The market players are focusing on integrating the technologies and developing more secured information systems to expand their market share. Moreover, companies are also focusing on developing healthcare markets to strengthen their market positions. Some of the market players are Dedalus, Allscripts Healthcare Solutions, Cerner Corporation, GE Healthcare, Integrated Medical Systems, Koninklijke Philips, McKesson Corporation, Carestream Health, and Wipro Limited, among others.

Key Topics Covered

1 INTRODUCTION

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Demand for Quality Healthcare System

4.2.2 Technological Development in the Healthcare Sector

4.2.3 Increase in Government Initiatives and Rising Awareness Regarding EHR Systems

4.3 Market Restraints

4.3.1 Data Security and Privacy Concerns

4.3.2 Lack of Proper IT Infrastructure in Developing Regions

4.4 Porter's Five Forces Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION (Market Size by Value - USD million)

5.1 Mode of Delivery

5.1.1 Cloud-based

5.1.2 On-premise

5.2 Type

5.2.1 Clinical Information Systems

5.2.2 Administrative Information Systems

5.2.3 Electronic Medical Records

5.2.4 Laboratory Information System

5.2.5 Radiology Information System

5.2.6 Pharmacy Information System

5.2.7 Other Types

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Middle East and Africa

5.3.5 South America

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Dedalus S.p.A. (Agfa-Gevaert Group)

6.1.2 Allscripts Healthcare Solutions Inc.

6.1.3 Cerner Corporation

6.1.4 General Electric Company

6.1.5 Integrated Medical Systems

6.1.6 Koninklijke Philips NV

6.1.7 McKesson Corporation

6.1.8 Wipro Limited

6.1.9 Epic Systems Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/m5h82v

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