The Global Emergency Department Information System Market can expect a growth rate of 15.10% during the forecast period (2017-2023), says Market Research Future (MRFR).
Market Drivers and Key Restraints
Emergency department information system is consisted to be an essential component in hospitals with emergency departments being a hospital’s front door for residents. Thus, the services offered in the emergency department directly reflect the hospital image. This system automates as well as streamlines the work process, providing the patients with efficient and high-quality care. These are designed with inputs from the medical professionals, along with nurses, healthcare administrators, clinicians, and pharmacists to cater to every need that ensures the smooth operation of the emergency department.
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The critical factors shaping the emergency department information system market include the growing number of hospitals and surge in healthcare expenditure. Apart from this, with the rising demand for automated healthcare services, supplemented by the increasing number of diseases, the market is expected to maintain its growth in the future as well. The expanding patient pool, along with the rising need to maintain an updated patient record as well as upgraded systems in healthcare, would also add to the market’s strength.
Having said that, the lack of knowledge about the system could slow down the market growth in the ensuing years. However, few crucial drivers dictating the smooth trajectory of the worldwide market include the increasing geriatric population and the growing adoption of technologically advanced systems in the healthcare sector.
The worldwide market for emergency department information system has been split into the segments of end-user, application, component, and delivery mode.
Component-wise, the market includes hardware, software, and services. In the market, the software segment covers the maximum share of the market and is poised to achieve a CAGR of 15.39% from 2017 to 2023.
With respect to application, the market covers administrative functionalities and clinical functionalities.
In terms of delivery mode, the market comprises on-premise and software-as-a-service (SaaS). Between these, the SaaS segment has seized the biggest portion of the total market, and expects to grow at a CAGR of 15.33% in the subsequent time frame.
The end-users that are part of the market are medium-sized hospitals, large hospitals, and smaller-scale hospitals. Out of these, the large hospitals segment has grabbed the primal spot, acquiring 48% of the total share.
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The primary markets for emergency department information system include Asia Pacific, Europe, the Middle East & Africa and the Americas.
The Americas region, with close to 38.6% of the total market share to its name, was the top region in 2016. The market will have a sustained growth in the future as well, owing to the presence of a large number of significant manufacturers and technological advancements within the region. Other than this, the high adoption rate of emergency department information systems will auger well with the market growth.
Europe thrives as the second-leading emergency department information system market on account of the rising use of information technology and improved developed healthcare facilities. These factors accelerate the demand for emergency department information system within the region.
The fastest-developing region is that of Asia Pacific, with a projected CAGR of 15.71% in the ensuing years. The region marks unmatched opportunities and consistently growing countries. Herein, improving economies, growing number of public and private hospitals and latest healthcare developments will favor the market growth.
The Middle East & Africa market is projected to experience substandard growth compared to other regions, with predictions of it noting the same growth pattern in the coming years as well. The lack of economic development coupled with low level of disposable income in the region could be the chief reasons for the sluggish growth.
The prominent companies in the emergency department information system market include Cerner Corporation, Medhost Inc, Evident, EPOWERdoc, Inc, T-System Inc, Wellsoft, Allscripts, veEDIS Clinical Systems LLC, Unitedhealth Group, Epic Systems, Inc, Logibec Canada, Healthland, Inc, Mckesson Corporation, Siemens Healthcare, Medical Information Technology, Inc, to name a few.
Medsphere has acquired Wellsoft Corporation, a company that specializes in emergency department information system. The acquisition’s primary aim is to launch a solution for urgent care centers, says Medsphere.
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