Global Hospital Information
Systems (HIS) Market is expected to foresee a considerable
growth over the forecast period. One of the crucial factors contributing to the
HIS market growth is augmented demand for unconventional health monitoring
systems. The global industry has been witnessing increased adoption of mobile
devices and this trend is expected to continue over the forecast period.
However, shortage of skillful professionals may pose a challenge to market
growth in the coming years. Growing penetration of smartphones and mobile
devices across the developed, as well as emerging economies, is anticipated to
have a positive impact on the market growth.
These
devices eliminate the need for patients to visit clinics or hospitals every
time they require a diagnosis. They also provide regular updates regarding
their illnesses enabling follow-ups and check-ups. Hence, mobile technologies
are anticipated to advance healthcare facilities to a great extent over the
forecast period. Rising need for advanced healthcare services on account of
aging population and growing demand from patients is expected to boost the
market over the forecast period. Furthermore, hi-tech technological
developments, such as business intelligence and analytics, which help reduce
the overall costs and provide improved results would also drive the market
growth.
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Rapid
implementation of these systems in developing economies by the leading
healthcare IT companies will also accelerate the market growth. Popular concept
of emerging interrelated health systems, particularly in the healthcare and IT
market, has led vendors to integrate necessary competencies to tap the growing
market potential. Intense market merging activity has resurfaced over the last
few years. This trend is anticipated to continue during the forecast period.
Rapid technological developments coupled with growing government initiatives in
improving health care facilities, particularly in emerging economies including
India and China, is expected to fuel adoption of hospital information systems.
Efforts
taken by various public and private firms for the development of global
healthcare sector and substantial technological advances are also driving the
adoption of HIS. Rapid demographic changes along with rising health concerns and
health care costs have forced governments to boost the quality and outreach
while simultaneously reducing related expenses. Governments around the world
have been facing concerns to address financial limitations, as well as
affordability and efficiency restraints of healthcare, due to rapidly growing
population. IT has also forced governments to magnify their efforts in
encouraging the adoption of HIS to upsurge clinical outcomes, as well as
hospital productivity.
Substantial
legislative and economic incentives have been offered by governments in North
America, Europe, India, and China, to authorize digitalization of healthcare
workflow. Growing demand and government funding for lesser errors and increased
productivity have encouraged technological advancements in the healthcare IT
industry. Amongst prominent technologies, which have considerably contributed
to progressive adoption trends in this market are cloud-based and web-based HIS
solutions. Software as a Service (SaaS) models have eliminated huge upfront
costs associated with the acceptance of IT infrastructure, thereby escalating
penetration of HIS into medium- and small-scale practices and among independent
physicians.
Other
technological improvements such as advanced clinical decision support systems
and integrated speech recognition capabilities are also expected to continue
contributing considerably in expanding the customer pool for HIS over the next
few years. North America, Asia Pacific, Middle East and Africa (MEA), Europe,
and Latin America are the major regional market for HIS. The North America
region is anticipated to have the largest market share at the maximum growth
rate followed by Asia Pacific and Europe.
Higher
adoption of information systems in the region, particularly in U.S., due to
growing implementation of IT services in the healthcare sector would dive the
region’s growth. Numerous healthcare laws in the region, such as Affordable
Care Act and Patient Protection Act, provide easy access to health insurance
plans for consumers through subsidies. Most of these systems are being widely
used in Arizona, Washington D.C., Colorado, Massachusetts, and New York.
Some of the
key companies in the global Hospital Information Systems (HIS) market include
McKesson Corp.; Siemens Healthcare Ltd.; Epic Systems Corp.; and Cerner Corp.
Other companies are Healthcare Solutions Inc.; MEDHOST Solutions Corp.
(Healthcare Management Systems Inc.); Computer Program and Systems, Inc.;
NextGen Healthcare Information Systems LLC; Agfa Healthcare Corp.; CompuGroup
Medical AG; Medical Information Technology, Inc. (MEDITECH); iSOFT Group PLC;
Computer Sciences Corp.; Allscripts Healthcare Solutions, Inc.; Keane Care,
Inc. (NTT Data Corp.); QuadraMed Corp.; and GE Healthcare.
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