Non Clinical Information Market – Overview
In the last few decades, the healthcare sector has undergone a lot of changes. From services to administration, every aspect of this industry has been subjected to a major or minor change. And as a consequence of such changes the global market for non-clinical information has received a much needed push. According to the research report by MRFR (Market Research Future), this market will witness tremendous growth during the forecast period of 2017-2027.
Non clinical information systems form an integral part of any hospital. The main purpose of this system is to streamline the administrative functions of medical set-ups like hospitals, physician’s clinics and laboratories. It aids in organizing the revenue cycle by providing payroll and claim management, cost accounting and automatic billing services.
Currently, the healthcare IT sector is developing at a lightning speed. The industry is ready to accept any new technology that offers better and efficient service. Therefore, it is being asserted that the worldwide market for non-clinical information will grow by leaps and bounds throughout the forecast period. The statistics look good as well, the CAGR promises great progress in future from a financial point of view.
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The emergence of new and proficient technologies can be characterized as the prime growth contributor for this market. The transformation in the medical sector and reducing prominence of Medicaid, Medicare and commercial rate of reimbursement also happen to positively affect the market’s expansion.
The feasibility of this system over the conventional ones is another factor that further propels the growth of this market. The modern day hospitals want to cut down on the cost without compromising on the efficiency. And non-clinical information market allows them to do so, hence it is being adopted at a dramatic rate.
Key Players
The prominent key players present in the Global Non Clinical Information Systems Market includes Quest Diagnostics, CareCloud Corporation, McKesson Corporation, Kareo, Cerner Corporation, Athenahealth, eClinicalWorks, General Electric Company, SSI Group, Inc., Allscripts and among others.
Non-clinical Information System Global Market – Competitive Analysis
The market of non-clinical information system appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Non-clinical Information System Global Market – Segmentation
The non-clinical information system market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
- Segmentation by Component: Comprises of service, software and hardware
- Segmentation by Deployment: Comprises of cloud based and on premise deployment
- Segmentation by Application: Comprises of hospitals, clinics, laboratories and ambulatory care solutions and others
- Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Non-clinical Information System Global Market – Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the non-clinical information system market in North America owing to the presence of a large number of established key players such as Quest Diagnostics Inc., CareCloud Corporation, McKesson Corporation, Cerner Corporation, eClinicalWorks LLC, and, General Electric. Also, due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of IT based healthcare solutions in the region, the market is likely to witness high growth in the coming future. Non-clinical information system market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 due to rise in IT technology and rise in demand of non-clinical information system and financial support from government in implementing the solutions in small as well as large healthcare industries in the region. Whereas, the Europe market for non-clinical information system is expected to grow at a considerable CAGR (2017-2023). The growth in Europe is attributed to the rise in adoption of new and updated versions of non-clinical information system solutions. Also, the healthcare solution providers in Europe are improving purchasing capacity of non-clinical information system solutions in order to provide effective services to everyone in the region.
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Industry News
September 2017 – Quest Diagnostics completes acquisition of the outreach laboratory services of two Hartford healthcare hospitals in Connecticut.
July 2017 – Quest Diagnostics announces intent to acquire Cape Cod healthcare outreach laboratory business in Massachusetts. If completed, the deal would enhance access to quality, affordable, and convenient laboratory services.
October 2017 – Allscripts closes acquisition of McKesson’s Enterprise Information Solutions business. Also adds Paragon and other solutions. The transaction significantly expands Allscripts client base in U.S. hospitals and health systems and expands its solutions portfolio. Allscripts purchased the EIS business for $185 million in cash, subject to an adjustment for net working capital and net debt.
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