CHICAGO, Oct. 26, 2022 /PRNewswire/ -- Healthcare Information System Market is projected to reach USD 547.2 billion by 2030 from USD 290.4 Billion in 2022, at a CAGR of 8.2% during the forecast period. according to a new report by MarketsandMarkets. The healthcare information system market is mainly driven by factors such as rise in penetration of technological advanced healthcare services, increasing government initiatives, rise in healthcare expenditure and digitalization of the healthcare infrastructure. However, potential data security concerns related to healthcare information system are expected to restrain the growth of this market to a certain extent in the coming years.
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"Revenue cycle management segment is expected to grow at the highest rate during the forecast period."
Based application the healthcare information system market is segmented into hospital information systems, pharmacy information systems, laboratory information systems, revenue cycle management, and medical imaging information system. The revenue cycle management segment expected to dominate the market in 2022. Factors such as growing regulatory requirement and government initiatives to boost the adoption of RCM solutions, increasing patient volume, loss of medical billing errors and the rising need for robust process improvements in healthcare are some of the factors driving the growth of this segment.
"The Services segment is estimated to account for the largest share of the healthcare information system market in 2022"
Based on the component the healthcare information system market is segmented into software, hardware, and services. The services segment expected to account for largest share of the market in 2022. The growth of this segment is primarily attributed to the growing need to manage data and technological advancement in HCIT.
"The web-based segment is estimated to account for the largest share of the healthcare information system market in 2022"
Based on delivery mode the healthcare information system market is segmented into web-based, on-premises and cloud-based. The web-based segment expected to account for the largest market share in 2022. This can be attributed to the enhanced adoption of the web-based segment in the medium and small healthcare units.
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"The Hospital segment is expected to account for the largest share of the healthcare information system market."
Based on end users, the healthcare information system market is segmented into hospitals, diagnostic and academic & research. The hospitals segment expected to hold the largest share of this market in 2022. The large share of hospital segment can be attributed to the growing number of hospital admissions across the globe owing to various reasons, is producing a huge volume of data.
"North America to expected to hold the largest share of the healthcare information system market in 2022"
The healthcare information system market has been segmented into four main regional segments: North America, Europe, the Asia Pacific, Latin America and Middle East & Africa. In 2022, North America accounted for the largest market share of this market. The large share can be attributed to the growing government initiatives in the North America to eradicate the paperwork and enhance the use of digital technologies for keeping data of the patients has significantly influenced towards the progress of the healthcare information systems market.
However, the Asia Pacific market is projected to register the highest CAGR during the forecast period. The high growth rate of the Asia Pacific market can primarily be attributed to the rising geriatric population, rising investments of both the government and corporate sector in the advancements of the healthcare sector in the nations like China, Japan, India, and South Korea.
Prominent players in this market are McKesson Corporation (US), Cerner Corporation (US), athenahealth, Inc. (US), Allscripts Healthcare, LLC (US), Medidata Solutions Inc. (US), Agfa-Gevaert N.V. (Belgium),GE Healthcare (US), Siemens Healthineers (Germany), Epic Systems Corporation (US), NextGen Healthcare (US), eClinicalWorks (US), Philips Healthcare (Netherlands), Hewlett Packard (US), Carestream Health (US), Novarad Corporation (US), e-MDs Incorporation (US), Ada Health GmbH (Germany), SWORD Health (US), Siilo (Netherlands), Orion Health (US), Oracle (US), NXGN Management, LLC (US), Greenway Health, LLC (US), Infor (US) and Neusoft Medical Systems Co., Ltd. (China)
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