A hospital information system (HIS) is an element of health informatics that focuses primarily on the administrative needs of hospitals. The system is designed to manage all healthcare data. HIS helps healthcare organizations to overcome any complicated challenges they face in the current healthcare industry. HIS is designed to manage patients and their related information in a centralised way via electronic data processing and predict health status within the hospital environment. A hospital information system is an innovative approach to help multiple doctors take care of their all-day outpatient management. It is a set of applications designed to manage healthcare data. In short, the hospital information system plays an important role in simplifying the workflow of hospitals by digitizing the entire operations of a hospital.
The global hospital information system market was valued at US$ 39,696.3 Mn in 2020 and is forecast to reach a value of US$ 75,824.7 Mn by 2028 at a CAGR of 7.3%between 2021 and 2028.
North America held dominant position in the global hospital information system market in 2020, accounting for 40.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.
Figure 1. Global Hospital Information System Market Share (%), by Region, 2020
In January 2021, Royal Philips announced that it has signed an agreement to acquire Capsule Technologies, Inc. to transform the delivery of care along the health continuum with integrated solutions. Philips’ current portfolio already includes real-time patient monitoring, therapeutic devices, telehealth, informatics, and interoperability solutions.
In December 2020, Allscripts Healthcare Solutions announced the launch of the novel Sunrise 20.0, a comprehensive platform of healthcare that connects all aspects of care, including acute, surgical, ambulatory, radiology, pharmacy, and laboratory services.
In October 2020, Cerner Corporation announced the historic and successful first deployment of modern electronic health record (EHR) at Mann-Grandstaff VA Medical Center in Spokane, WA. It is will be a historic milestone toward improving the secure and seamless exchange of health information across the federal government.
Hospital Information System Market Report Coverage
||Market Size in 2021:
||US$ 44,948.7 Mn
|Historical Data for:
||2017 to 2020
||2022 to 2028
|Forecast Period 2022 to 20278CAGR:
||2028 Value Projection:
||US$ 75,824.7 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Mode of Delivery: (Cloud-based and On-premise)
- By Type: (Clinical Information Systems, Administrative Information Systems, Electronic Medical Records, Laboratory Information System, Radiology Information system, Pharmacy Information System, and Others)
Wipro Limited, Epic Systems Corporation, McKesson Corporation, Koninklijke Philips NV, General Electric Company, Cerner Corporation, Integrated Medical Systems, Allscripts Healthcare Solutions Inc., and Dedalus S.p.A (Agfa-Gevaert Group), among others.
- Implementation of healthcare IT solutions
- Favorable government initiatives
|Restraints & Challenges:
- Data security and privacy concerns
- Poor IT infrastructure in developing regions
- Favorable government initiatives and increasing adoption of advanced healthcare solutions is expected to augment the growth of the global hospital information system market during the forecast period. For instance, in June 2019, Ministry of Health and Family Welfare (MoHFW), India announced the launch of new real time Health Management Information System online portal in five states; Punjab, Karnataka, Tripura, Chandigarh, and Uttar Pradesh.
- Increase in implementation of healthcare IT solutions across the globe is expected to propel growth of the global hospital information system market over the forecast period. For instance, as per the Healthcare Information and Management Systems Society (HIMSS), healthcare IT services have witnessed an upsurge in adoption over the past years, whilst remote monitoring services recorded an increment in adoption from 13% in 2016 to 22% in 2019.
Figure 2. Global Hospital Information System Market Share (%) in Terms of Value, by Type, 2021
- Lack of proper IT infrastructure in developing regions is expected to hamper growth of the global hospital information system market. IT infrastructure improves the safety, effectiveness, access, timeliness, patient-centeredness, and efficiency. Poor IT infrastructure may contribute to poor quality of care and outcomes, particularly among vulnerable population groups.
- Data security and privacy concerns are also expected to hinder growth of the global hospital information system market. According to the major healthcare data breaches reported over the years, the most common threats to data privacy and security include unauthorised access, data theft, data loss, hacking IT incidents, improper disposal of data, and more.
- The outbreak of COVID-19 is expected to offer significant growth opportunities for players in the global hospital information system market. For instance, according to the National Center for Biotechnology Information (NCBI), the pandemic required health information systems to rapidly adapt to identify, collect, store, manage, and transmit accurate COVID-19 related data.
- Growing patient pool across the globe is expected to offer lucrative growth opportunities for players in the global hospital information system market. For instance, according to the World Health Organization (WHO), between 5.7 and 8.4 million deaths are attributed to poor quality care each year in low- and middle-income countries (LMICs), which represents up to 15% of overall deaths in these countries.
Market Trends/Key Takeaways:
- Surging developments in healthcare infrastructure are expected to drive growth of the global hospital information system market. For instance, in August 2021, the Government of Delhi approved the INR 13.9 billion project for setting up a cloud-based integrated health information management system across its hospitals.
- Introduction of novel products by major players is expected to aid in the growth of the global hospital information system market. For instance, in January 2019, CoverMyMeds and Cerner Corporation teamed up to integrate patient-specific information into the HER (electronic health record) for healthcare providers to view pricing information at point-of-care.
- Dedalus S.p.A (Agfa-Gevaert Group)
- Allscripts Healthcare Solutions Inc.
- Cerner Corporation
- General Electric Company
- Integrated Medical Systems
- Koninklijke Philips NV
- McKesson Corporation
- Epic Systems Corporation
- Wipro Limited
Hospital information systems provide a common source of information about a patient's health history, and doctors schedule timing. The system helps register complete patient information. It captures and stores the medical history, details of their previous visits, treatment required, insurance details, reports, upcoming appointments if any, and more. The system helps eliminate the need to get these details on every visit. The health information system enables hospitals to collect, manage, store, analyze, and optimize patient information and other key data.
Increasing adoption of healthcare IT solutions and outbreak of COVID-19 (global pandemic) is expected to boost growth of the global hospital information system market over the forecast period. The ongoing pandemic has stimulated innovative ideas and use of modern information technologies. Thus, there is an increasing demand for health information systems to identify, collect, store, manage, and transmit accurate and timely COVID-19 related information. For instance, the Centres for Disease Control (CDC) is using Oracle’s National Electronic Health Records Cloud plus Public Health Management Applications Suite to manage the COVID-19 vaccination program throughout the United States.
Key features of the study:
- This report provides in-depth analysis of the global hospital information system market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- It profiles key players in the global hospital information system market based on the following parameters, such as company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Epic Systems Corporation, McKesson Corporation, Koninklijke Philips NV, Wipro Limited, Cerner Corporation, Integrated Medical Systems, Allscripts Healthcare Solutions Inc., Dedalus S.p.A (Agfa-Gevaert Group), and General Electric Company, among others.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global hospital information system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hospital information system market.
- Hospital Information System Market By Mode of Delivery:
- Hospital Information System Market, By Type:
- Clinical Information Systems
- Administrative Information Systems
- Electronic Medical Records
- Laboratory Information System
- Radiology Information system
- Pharmacy Information System
- Other Types
- Hospital Information System Market, By Geography:
- North America
- Asia Pacific
- Middle East and Africa
- South America