Hospital Information Systems (HIS) Market Demand Is Estimated To Be High on Account of Increasing Patient Traffic Till 2025 | Million Insights

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According to new report available with Million Insights, healthcare facilities who seek for a fully integrated business solution provide great opportunities for Hospital Information Systems market growth in near future.

The global Hospital Information Systems (HIS) Market is expected to be valued at USD 39.7 billion by 2025. Hospital information system market demand is expected to be high over the forecast period on account of increasing patient traffic. The need to integrate data of a single patient from all the departments in a hospital is anticipated to propel the overall industry growth. Hospital information system (HIS) is designed to fulfill the administrational needs of medical centers. It involves the integration of multiple divisions in order to manage the administration on a real time basis. Various sections of a medical center which include laboratories, finance departments, and general administration are integrated through enterprise architecture. It also helps the physicians in tracking a patients’ past record and progress in the treatment. The increase in patient flow is the major factor driving the overall market. Increasing disease incidence has created the need to establish a sophisticated data base for patient tracking. A patient undergoes multiple therapies, treatments, and diagnosis. A Physician needs to collate all the information for further diagnosis. This need drives the demand for information system with integration of multiple wings within an organization. Such systems also help physicians to track patients past history.

Accounting is another factor which propels the demand for hospital information system. Bills from various departments are consolidated into one and therefore leading to customer satisfaction. Medical institutions have been able to process the overall cash flows at a centralized level with precision and without any delays. Such centralized cash flow management reduces the possibilities of fraud and financial data fabrication. HIS has helped to fasten the administrative process with high accuracy which includes placing orders, bookings and payment. Moreover, these applications have significantly contributed to increase overall accuracy, response time and efficiency which in turn is expected to drive its demand over the forecast period. Electronic record keeping has boosted the demand for HIS implementations. They provide a common source for patient’s health history. Doctors can easily access patient’s information, laboratory results and previous prescriptions.

Full Research Report On Global Hospital Information Systems (HIS) Market Analysis available at: https://www.millioninsights.com/industry-reports/hospital-information-systems-his-market

These information applications are efficient in crowd control. Tracking the patient flow has been easy, leading to a planned scheduling of appointments and bed occupancy. This has resulted in avoiding time delays and long queues. Therefore, healthcare organizations with large inflow of patients are expected to find major applications for crowd management. Growing medical insurance industry is expected to further drive the demand for patient records in healthcare. Insurance agencies are expected to find these applications useful in tracking a patient’s history and avoiding fraud. Absence of well-established I.T arrangement is expected to pull down the overall system growth as launching these applications requires highly proficient I.T systems and maintenance. Moreover, these applications are high in cost and require regular updates and maintenance.

Mindset change is another reason which is expected to restrain global industry growth in the future. Some organizations are expected to hesitate in implementing new technologies and stick with their old systems which are cost effective and well adopted by their employees. Healthcare facilities who seek for a fully integrated business solution provide great opportunities for market growth in near future. There is a need to establish proper sales channel so that the vendors ensure efficient technologies are integrated into their solutions.

Rise in medical informatics is expected to propel the growth of overall industry. Data collected through these application suites is used to study the recent trends and patient behavior. This source of data provides meaningful insights for capacity planning. Hospitals tend to use this information for their expansion programs and demand forecasting. The HIS architecture is segmented on the basis of specialized implementations which includes clinical information system, laboratory information system, procedure management, radiology information, and picture archiving & communication.

North America is expected to observe highest demand in the global industry on account of the well-developed healthcare sector and implementation of advanced IT infrastructure. Similarly, Western Europe is expected to show a substantial demand over the forecast period on account of increasing emphasis by the regional government on healthcare facilities coupled with the stringent regulatory framework. Asia Pacific and the Middle East are expected to observe significant growth on account of the increasing government initiatives to establish proper healthcare infrastructure in developing economies including China, India, Japan and UAE.

Key players operating in the market are SAP, Philips, Infosys, Wipro, TCS, Meditech, Mckesson Corporation, Epic systems, Allscripts, and Cerner Corporations. Vendors focus on providing complete IT enabled services which consist of HIS. This helps the vendors to reduce costs and also aid in the maintenance process. After sales service plays a vital role in establishing strong relations with the customer. Break down of these applications result in loss of information and disturbance in services. In February 2015, Cerner Corporations successfully acquired Hospital IT solutions business unit of Siemens for USD 1.3 billion. The acquisition is expected to help Cerner develop efficient business solutions especially in the field of electronic record keeping.

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Market Segment:

HIS Delivery Mode Outlook (Market revenue in USD Billion, 2016 – 2025)
        • Cloud-Based Technology
        • On-Premises Installation
        • Web-Based Technology

HIS Component Outlook (Market revenue in USD Billion, 2016 – 2025)
        • Software
        • Hardware
        • Services

HIS Regional Outlook (Market revenue in USD Billion, 2016 – 2025)
        • North America
            • U.S.
            • Canada
        • Europe
            • Germany
            • UK
        • Asia Pacific
            • Japan
            • China
        • Latin America
            • Brazil
            • Mexico
        • MEA
            • South Africa

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/healthcare-it

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