Hospital Information System Market Size, Forecast by 2027

Global Hospital Information System Market Size, Share & Industry Trends Analysis Report By Component, By Deployment, By Type, By Regional Outlook, Strategy, Challenges and Forecast, 2021 - 2027

Published Date: February-2022 | Number of Pages: 237 | Format: PDF | Report ID: KBV-16560

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Hospital Information System Market

Market Report Description

The Global Hospital Information System Market size is expected to reach $79.7 billion by 2027, rising at a market growth of 5.4% CAGR during the forecast period.

A hospital information system (HIS) is a subset of health informatics that emphasizes on hospital management. In various implementations, a HIS is a full, integrated information system designed to manage all aspects of a hospital's operations, such as medical, financial, administrative, and legal complications, and the associated service processing. A hospital information system (HIS) is sometimes known as hospital management system or hospital management software (HMS). Doctors utilize hospital information systems to organize visits since they are a great source of information pertaining to a patient's medical history. The system must protect data and control who has access to it under certain situations.

Hospital Information System Market Size - Global Opportunities and Trends Analysis Report 2017-2027

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has disrupted the business operation across various business verticals. It is due to the imposition of various regulations by the governments across the world to curb the spread of the virus. However, the healthcare sector has been positively impacted by the pandemic. The increasing prevalence of COVID-19 has made it necessary for hospitals to use information systems to save burden.

Furthermore, continuous endeavors for healthcare IT solutions have pushed the use of different modern information systems in emerging countries even further. To reduce exposure, the COVID-19 pandemic has directed to enhance the level of automation and digitalization in healthcare institutions.

Market Growth Factors:

Enhancement in Data Retrieve-ability & Security

Record keeping in hospital facility is a necessary measure with two challenges: keeping the data secure with only authorized staff having access to it and retrieving it in the shortest amount of time feasible. In addition to these constant issues of space limitation, natural element protection, insect prevention, and so forth, the demand for various advanced solutions would witness a surge in the coming years. HIS is the ideal solution to these issues. All data is securely saved on a server or in the cloud. Because HIS is focused on logins, data security is no longer a concern, as data access is granted depending on the person's job including receptionist, doctor, nurse, radiologist, and so on.

Improved Accuracy and enhanced efficiency

Processes that are automated utilizing software will be handled mechanically without the need for human interaction, resulting in immediate increased efficiency. The programme will not experience human issues such as exhaustion, misunderstanding, or lack of attention; it will do every work entrusted to it with the same precision day after day. Because HIS operations are automated and many activities are entrusted to software to conduct with greatest precision with minimal human participation, the possibility of error is greatly minimized.

Marketing Restraining Factor:

The rise in the number of regulatory compliances

The Healthcare industry has plenty of sensitive data, which is required to be protected through various regulations and compliances like the US Health Insurance Portability and Accountability Act (HIPAA). Data discovery problems and low data quality make it more problematic to carry out the needed audits and fulfill regulatory needs and restrict several data healthcare providers from using them for benefitting their patients. Many governments across the world are increasingly framing strategies and policies to keep a track on the security of patients’ data. It is mandate for hospitals to meet this compliance in order to prevent data breaches.

Hospital Information System Market Share and Industry Analysis Report 2020

Component Outlook

Based on Component, the market is segmented into Software, Hardware, and Services. It is owing to the high reliance of the hospitals on on-premise solutions to provide better healthcare services to the patients in organized manner. It is because of the factors like high requirement of various advanced systems and devices by the hospitals.

Deployment Outlook

Based on Deployment, the market is segmented into Web Based, On-Premises, and Cloud based. The on-premise segment procured a substantial revenue share. It is owing to the high reliance of the hospitals on on-premise solutions to provide better healthcare services to the patients in organized manner.

Type Outlook

Based on Type, the market is segmented into Electronic Health Record, Patient Engagement Solution, Population Health Management, Electronic Medical Record and Real-time Healthcare. The patient engagement solutions segment acquired a significant revenue share. The rising burden of chronic illnesses, as well as the growing elderly population, is some of the primary causes driving the global adoption of patient engagement solutions.

Hospital Information System Market Report Coverage
Report Attribute Details
Market size value in 2020 USD 56.9 Billion
Market size forecast in 2027 USD 79.7 Billion
Base Year 2020
Historical Period 2017 to 2019
Forecast Period 2021 to 2027
Revenue Growth Rate CAGR of 5.4% from 2021 to 2027
Number of Pages 237
Number of Tables 373
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling
Segments covered Type, Component, Deployment, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Enhancement in Data Retrieve-ability & Security
  • Improved Accuracy and enhanced efficiency
Restraints
  • The rise in the number of regulatory compliances

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region with the maximum revenue share. It is due to the growing market for technologically advanced information systems in U.S. hospitals, as well as the high presence of IT vendors such as GE Healthcare, Cerner, Carestream Health, McKesson, and NextGen Healthcare.

Free Valuable Insights: Global Hospital Information System Market size to reach USD 79.7 Billion by 2027

KBV Cardinal Matrix - Hospital Information System Market Competition Analysis

Hospital Information System Market - Competitive Landscape and Trends by Forecast 2027

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the General Electric (GE) Co. is the major forerunner in the Hospital Information System Market. Companies such as Siemens Healthineers AG, Koninklijke Philips N.V., Wipro Limited are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens Healthineers AG (Siemens AG), Cerner Corporation, AllScripts Healthcare Solutions, Inc., General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., McKesson Corporation, NextGen Healthcare, Inc., Wipro Limited, Dedalus S.p.A. (Ardian), and Integrated Medical Systems Pty Ltd.

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» Partnerships, Collaborations and Agreements:

  • Dec-2021: Royal Philips came into partnership with IJsselland Hospital, provider of healthcare services located in Capelle, Netherlands. The partnership is aimed to improve the patient care in the region by focusing on digitalization, optimization and innovation and purchase of patient monitoring & radiology solutions which includes CT and MRI systems.
  • Aug-2021: Dedalus came into partnership with Rx.Health, an AI-based digital health unification and clinical intelligence platform in North America. The partnership is focused to provide customized customer engagement by improving the clinician experience through actionable insights from data & accelerate the growth of digital transportation for healthcare stakeholders.
  • Jul-2021: Cener Corporation extended its existing collaboration with Baystate Health, a not-for-profit integrated healthcare system based in Massachusetts by launching a digital health platform. This extension is focused on integrating care delivery & financing systems for customer-focused approach of patient care. In addition, the innovation would improve patient access to customized care, provide clinicians with better view to patient populations, and utilizing data to drive more effective disease management & virtual health experiences.
  • Jul-2021: Royal Philips collaborated with Cognizant, a world-leading professional services firm. By this collaboration, the companies aimed to design end-to-end digital health solutions which would allow healthcare organizations & life sciences companies to enhance patient care & accelerate clinical trials.
  • Jun-2021: Siemens Healthineers partnered with Prisma Health, largest not-for-profit health organization in South Carolina. This partnership is aimed to innovate healthcare, enhance workforce, and improve healthcare for patients and communities served by Priwsma Health.
  • Dec-2020: Siemens Healthineers came into partnership with IBM Deutschland, an American multinational technology corporation. Under the partnership, the companies would launch an open digital platform aimed to advance the networking of the German healthcare system & expand the infrastructure for the provision of digital services.
  • Sep-2020: Siemens extended their partnership with Atos, a global leader in digital transformation. This extension of partnership is aimed to accelerate Siemens’ digital objectives in the areas of services digitalization and modernization, data driven digital, cloud transformation & cybersecurity.
  • Aug-2020: Allscripts entered into a partnership with Sheba Medical Center, the largest hospital in Israel. This partnership is focused to hasten the artificial intelligence technology and enhance patient care by help of ARC innovation center. Also, the launch serves as an innovation step for transformation of Sheba Medical Center into healthcare.
  • Jul-2020: Allscripts extended their partnership with Microsoft Corp., an American multinational technology corporation which produces computer softwares for five years. This extension is done to allow the expanded development & delivery of cloud-based health IT solutions. This strategic extension would support Allscripts' cloud-based health record and provide opportunity of transforming healthcare with smart and scalable technology.
  • Apr-2020: GE Healthcare teamed up with Microsoft, an American multinational technology corporation which produces computer software. Under this collaboration, GE healthcare would launch Murul Virtual Care Solution to support clinicians & health systems in treating COVID-19 patients. The new solution is developed to provide hospitals with wide view of their ventilated patient population and help identifying patients at risk of deterioration, to the highly secure & trusted cloud platform.
  • Mar-2020: Wipro entered into partnership with PLEXIS Healthcare Systems, a leading payer technology company. This partnership is aimed to offer secure, compliant, high-value, end-to-end digital first plan administration solutions at a cost-effective price point along with enhanced customer experience in order to allow a streamlined, accurate, efficient, & integrated plan administration solution to support healthcare payers and plan sponsors across the world.
  • Feb-2020: Allscripts Healthcare Solutions partnered with Manorama Infosolutions, a healthcare IT company in India. The company aimed to deliver an integrated healthcare management information system as well as health information exchange platform. Under this partnership, Manorama will Integrate Allscripts interoperability platform, dbMotion Solution with Lifeline Suite of solution to extend the reach of Allscripts to 1.4 billion more people.

» Acquisitions and Mergers:

  • Dec-2021: GE healthcare took over BK Medical, a leader in advanced surgical visualization, from Altaris Capital Partners. The acquisition would add rapidly growing & latest field of real-time surgical visualization to GE's pre as well as post operation ultrasound abilities to create an end-to-end offering by the full continuum of care from diagnosis through therapy & beyond.
  • Oct-2021: Dedalus acquired Dobco Medical Systems N.V., a fast-growing cloud-native Enterprise Imaging provider. Through this acquisition is aimed to unite Dedalus as the largest healthcare IT businesses with a wide portfolio in Healthcare IT ecosystem by supporting each step of the Continuum of Care, from diagnostic to treatment, follow-up, from prevention to early detection, rehabilitation and end-of-life.
  • Jul-2021: Royal Philips took over Capsule Technologies, a leading provider of medical device integration and data technologies for hospitals and healthcare organizations. The acquisition aimed to transform the delivery of care and the health continuum with integrated solutions. The company already has rel-time patient monitoring, telehealth, therapeutic devices, informatics & interoperability solutions.
  • Apr-2021: Cerner Corporation acquired Kantar Health, a division of Kantar Group, a data analytics and brand consulting company. This acquisition is focused on speeding up the advancement in life science research and impring patient outcomes across the world by combining Kantar Health’s rich life sciences expertise with Cerner's collection of real-world data (RWD) & technology.
  • Apr-2021: Dedalus Group took over AMPHI Systems A/S, s part of the Judex Group which delivers innovative solutions to the healthcare sector. The acquisition aimed to allow the company to accelerate the digital transformation of emergency & ambulance health management.
  • Apr-2021: Dedalus acquired DXC Technology’s healthcare software business, an American multinational information technology services and consulting company. The acquisition focused to generate a revenue around €700 million & making the company one of the largest R&D platform for this sector. This deal capitalizes on synergies

» Product Launches and Product Expansions:

  • Nov-2021: NextGen Healthcare introduced NextGen Community Health Collaborative (NCHC). This launch is aimed to offer comparative analytics, data benchmarking, and reporting services, plus a forum for members to connect and share best practices to support the mission of community health.
  • Oct-2021: Allscripts introduced Allscripts Practice Management, an artificial intelligence scheduling application that uses real-time provider, practice & industry data. This system is designed for key clinical and operational metrics which permits users to schedule visits of patients properly.
  • Oct-2021: Cerner Corporation launched Cerner RevElate, the company’s go-forward patient accounting product. The product will provide the company's income cycle management with new and enhanced capabilities. In addition, Cerner RevElate would reduce the complexity by managing workflows and data which scale large health systems and influence clinical, payer and billing workflows.
  • Sep-2021: McKesson Corporation launched McKesson’s Rapid Returns Solution by the help of PharmaLink, a national pharmaceutical reverse logistics and disposal provider. The solution helps hospitals and health systems increase the amount of credit received for pharmaceuticals and over-the-counter products, expedites credit processing, & simplifies the returns process to provide more time to staff for patients.
  • May-2021: GE Healthcare unveiled Xeleris V, a new processing and review solution. The launch is aimed to provide nuclear medicine clinicians secure access to data at anytime, anywhere. Moreover, the launch features new Artificial Intelligence and also improves and simplifies clinicians with advanced data required to help them make customized care decisions & treatment recommendation.
  • Dec-2020: McKesson Corporation introduced Ontada, an oncology technology and insights business. The Ontada is developed to support acceleration, innovation, & evidence generation to give better results for cancer patients by allowing coordination between life science & oncology providers.
  • Mar-2020: Siemens Healthineers launched teamplay digital health platform. This launch is focused on covering the way for healthcare providers´ digital transformation to facilitate easy access to solutions for clinical, operational and shared decision support.

Scope of the Study

Market Segments Covered in the Report:

By Component

  • Software
  • Hardware
  • Services

By Deployment

  • Web Based
  • On-Premises
  • Cloud based

By Type

  • Electronic Health Record
  • Patient Engagement Solution
  • Population Health Management
  • Electronic Medical Record
  • Real-time Healthcare

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Siemens Healthineers AG (Siemens AG)
  • Cerner Corporation
  • AllScripts Healthcare Solutions, Inc.
  • General Electric (GE) Co. (GE Healthcare)
  • Koninklijke Philips N.V.
  • McKesson Corporation
  • NextGen Healthcare, Inc.
  • Wipro Limited
  • Dedalus S.p.A. (Ardian)
  • Integrated Medical Systems Pty Ltd

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Related Reports:

North America Hospital Information System Market Report 2021-2027

Europe Hospital Information System Market Report 2021-2027

Asia Pacific Hospital Information System Market Report 2021-2027

LAMEA Hospital Information System Market Report 2021-2027

FREQUENTLY ASKED QUESTIONS (FAQ):

The global hospital information system market size is expected to reach $79.7 billion by 2027.

Improved Accuracy and enhanced efficiency are driving the market in coming years, however, the rise in the number of regulatory compliances limited the growth of the market.

Siemens Healthineers AG (Siemens AG), Cerner Corporation, AllScripts Healthcare Solutions, Inc., General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., McKesson Corporation, NextGen Healthcare, Inc., Wipro Limited, Dedalus S.p.A. (Ardian), and Integrated Medical Systems Pty Ltd.

The Electronic Health Record market is generating high revenue in Global Hospital Information System Market by Type 2020, and would continue to be a dominant market till 2027.

The Web-based market shows high market share in the Global Hospital Information System Market by Deployment 2020, and would continue to be a dominant market till 2027.

The North America region dominated the Global Hospital Information System Market by Region 2020, and would continue to be a dominant market till 2027.

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