DUBAI, UAE, Nov. 17, 2023 /PRNewswire/ -- As per the latest report published by Kings Research, the global Health Informatics Market garnered a valuation of USD 34.23 billion in 2022 and is estimated to reach USD 101.34 billion in revenue by 2030, growing at 12.50% CAGR from 2023 to 2030. Pivotal factors attributing to the market growth include accelerated automation in clinical laboratories to improve the accuracy, quality, consistency, efficiency, and patient safety. The integration of technologies like conveyor systems, robots, machine vision, and others into laboratory automation systems serves as a driving factor for market growth.
Additionally, increased government investments in upgrading healthcare infrastructure, expanding hospital networks, and the widespread adoption of electronic health records are key drivers of market expansion. Furthermore, the growing demand for integrated systems to diagnose, interpret, analyze, and record data, coupled with the rising adoption of IoT and advanced technology solutions, is expected to fuel market growth over the forecast period.
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Global Health Informatics Market Report Scope:
Report Coverage | Details |
Forecast Period | 2023-2030 |
Base Year | 2022 |
Market Value (2022) | USD 34.23 billion |
Forecasted Value (2030) | USD 101.34 billion |
CAGR | 12.50 % |
No. of Pages | 120 |
Segments Covered | Type, Application, End-User, and Geography |
Drivers | Rising Operational Expenses in Pharmacy Informatics to Aid Health Informatics Market Growth |
Growing Demand for Healthcare Informatics in Hospitals to Augment Health Informatics Market Progress |
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Competitive Landscape
Prominent leaders in the health informatics market are prioritizing various strategic approaches, such as forming partnerships, engaging in mergers & acquisitions, implementing product innovations, and establishing joint ventures. These initiatives are aimed at broadening their product offerings and enhancing their market presence in different geographical locations. Furthermore, these firms are also undertaking various expansion and investment efforts, including research and development investments, establishment of new manufacturing facilities, and optimization of supply chain operations.
For instance, in March 2023, Genomic Vision, a biotechnology company listed on Euronext, introduced FiberSmart®, a cutting-edge technology utilizing Artificial Intelligence (AI) to automate the detection and quantification of fluorescent signals on combed DNA molecules.
Key companies profiled in the health informatics market include:
- Accuro Healthcare Solutions
- Allscripts
- Agfa HealthCare Corp.
- Axiom Resource Management Inc.
- Cardinal Health
- Cerner Corp.
- Benchmark Systems
- Cognizant Technology Solutions
- Companion Technologies
- CNSI
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The global Health Informatics Market is segmented as:
By Type
- Nursing Informatics
- Pathology Informatics
- Pharmacy Informatics
- Research Informatics
- Others
Rising Operational Expenses in Pharmacy Informatics to Aid Health Informatics Market Growth
Based on type, the pharmacy informatics segment is projected to dominate the market through the assessment period mainly driven by the progress made in healthcare solutions, the proliferation of large-scale pharmacies, the demand for enhanced pharmacy management, and the burgeoning operational expenses related to health informatics systems. Additionally, continuous advancements in technology and the growing significance of personalized healthcare have further solidified the importance of pharmacy informatics as an essential tool for both pharmacists and healthcare practitioners.
By End User
- Hospitals
- Specialty Clinics
- Pharmacies
- Research Labs
- Others
Growing Demand for Healthcare Informatics in Hospitals to Augment Health Informatics Market Progress
By end-user, the hospitals segment is anticipated to capture the largest revenue share in the health informatics market by the end of the forecast period. This can be attributed to the growing demand for healthcare informatics within hospitals, as well as the increasing utilization of healthcare analytics. Additionally, the substantial influx of patients in hospitals underscores the importance of efficient patient records and management systems to maintain optimal workflow. Moreover, hospitals often establish partnerships with medical schools and research institutions, enabling them to remain at the forefront of medical progress and provide state-of-the-art treatments.
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Widespread Adoption of Advanced Technologies in North America to Support Health Informatics Market Expansion
North America is projected to have a significant presence in the global health informatics market primarily due to the widespread adoption of advanced technologies like IoT in the region. Additionally, several key players are investing in health informatics systems and developing digital solutions for healthcare records in this region. The highly developed healthcare system and advanced infrastructure and technological landscape in North America enables the efficient collection, storage, and analysis of healthcare data critical for effective health informatics.
In addition, healthcare infrastructure and services have significantly improved worldwide, including advancements in equipment, buildings, and information & communication technology. Furthermore, increased investments and favorable policies from regional governments are expected to drive market growth in the future.
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Major Points from TOC:
Chapter1 Introduction of the Global Health Informatics Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter2 Executive Summary
Chapter3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter4 Global Health Informatics Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter6 Global Health Informatics Market, By Type
Chapter7 Global Health Informatics Market, By Application
Chapter8 Global Health Informatics Market, By End User
Chapter9 Global Health Informatics Market, By Geography
Chapter10 North America
Chapter11 Europe
Chapter12 Asia Pacific
Chapter13Middle East & Africa
Chapter14 Latin America
Chapter15 Global Health Informatics Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
Chapter16 COMPANY PROFILES
16.1 Accuro Healthcare Solutions
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Allscripts
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Agfa HealthCare Corp.
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 Axiom Resource Management Inc.
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 Cardinal Health
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
Continued………
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